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It has been designed to take advantage of changes in how we tip and how employers monitor and report those tips to the IRS - with the aim of improving compliance and reducing unreported tip income. SITCA would be a voluntary program for employers in all service industries (apart from the gaming sector) with at least one business location. SITCA is open for public feedback until May 7 - but has already drawn the ire of Republican lawmakers like Cruz, who sees the proposed tax program as an example of how the IRS is “punishing everyday Americans.” How the new tipping program would work According to a 2018 study done by the Treasury Inspector General for Tax Administration, an estimated 30% of employers with tip agreements under report earnings - amounting to tens of billions of tax dollars at stake. The program is intended to improve gratuity reporting compliance and reduce the estimated $1.66 billion in annual unreported tip income. ![]() The voluntary tip reporting program between the IRS and employers in various service industries could result in service workers seeing their tax liability go up. The IRS recently announced a proposed new tip reporting program, Service Industry Tip Compliance Agreement (SITCA). Here's how much money the average middle-class American household makes - how do you stack up?Ĭruz hasn't been shy about his criticism of the federal agency over the years: he tweeted another call to "abolish the IRS" as recently as last month. Get in now for strong long-term tailwinds Rich young Americans have lost confidence in the stock market - and are betting on these 3 assets instead. Your cash is trash: 4 simple ways to protect your money against white-hot inflation (without being a stock market genius) Ted Cruz to go so far as to accuse the tax agency of “next level cruelty" on Twitter. Out of all the federal agencies, the IRS is traditionally the least popular with the public.īut a recent change has spurred Sen. ![]() Eric Burlison in his bid for Missouri’s 7th congressional district.Ted Cruz renewed his call to 'abolish the IRS' over proposed tip reporting program that may hike taxes for many Americans - here's how new rules could impact workers and employers Schmitt reported about $1.27 million cash on hand, Schatz $1.16 million, Long $577,000, Greitens $290,000, and McCloskey $99,300.Ĭruz has also endorsed Sen. Eric Greitens, and attorney Mark McCloskey are vying for the GOP nomination to replace Senator Roy Blunt.Īs of the latest filing reports, Hartzler has the most cash on hand with nearly $1.78 million. ![]() Īside from Schmitt and Hartzler, Congressman Billy Long, Senate President Pro Tem Dave Schatz, former Gov. Schmitt has also been endorsed by conservative radio host Dana Loesch, AFP Action, and former acting U.S. The endorsement comes after Missouri Senator Josh Hawley offered his endorsement of Congresswoman Vicky Hartzler for the seat at the statewide Lincoln Days over the weekend. Senate like Senator Cruz, and I am honored to have his support in my campaign and in the fight to save America.” “Senator Ted Cruz is a conservative leader and fighter who has never been afraid to fight back against the left who want nothing more than to eradicate our freedoms and accumulate more power and control,” Schmitt said in a response provided to The Missouri Times. Eric is a fighter who will hold China accountable, defend religious freedom, take on Big Tech, and he will protect American jobs.” In a piece published in Fox News Wednesday, Cruz said: “I’m proud to endorse Eric Schmitt for U.S. Texas Senator Ted Cruz officially backed Attorney General Eric Schmitt in his bid for U.S.
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