A Tax Provision That Neither Taxpayers Nor the IRS Is Ready For

Back in early 2021, Congress passed the American Rescue Plan Act (ARPA), a massive stimulus bill that came months after the time for stimulus had passed. One of the few “pay-fors” in this giant glob of cash was a poorly-considered provision that would increase scrutiny of online third-party transactions. As the time when this provision will finally come into effect comes closer, it is only becoming more and more apparent that not only are taxpayers not ready to deal with the full consequences of this provision — the IRS is not either.

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