Internal Revenue Service (IRS) Has Changed Tax Deduction Requirements For Cellphones
Just Like Mileage For Your Car ... Only The Documented Business Smartphone Usage Can Be Deducted From Your Gig Income
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Gig Workers Are Being Targeted By The IRS For Tax Deduction Analysis & Audit
“A last-minute insert by Democrats looking to offset the cost of their
coronavirus aid package would send tax collectors into the gig economy,
eventually costing Uber and DoorDash drivers, Airbnb hosts and others
about $1 billion annually,” Roll Call reports.
IRS & Tax Courts Are Denying The Ability To Claim/Deduct Personal Usage
“As for the cell phone and internet, Judge Panuthos really wanted to help Ms. Armstrong ..., but he was unable to do that because she could not give him any basis for allocating what amounts of the total cell phone and internet bills
were for work and what amounts were for personal use..."
Direct quote from Intuit/Turbo Tax on their tax advisory note dated July 1st, 2021 : "If you have an expense that is both personal and business (Smartphone) then you need to allocate it between the two."
Direct quote from H&R Block "When you use a personal cell phone for business, the regular monthly expense will not qualify as a deduction. To deduct the expense, you would need to calculate the business-use percentage of the mobile phone on a month-by-month basis. Adequate documentation could include a log with these: ... Notes that indicate whether each call was personal or business Business purpose of each call"
The Likelihood Of An Audit Has Doubled For The Average American
Nearly half of the audits would impact families earning less than $75,000, while roughly one-quarter of the audits would affect Americans earning up to $25,000 per year... the plan will also result in 800,000 more federal tax liens against taxpayer property, including homes and vehicles.
The IRS Has Hired 87,000 New Auditors Targeting Self Employed & Small Business Owners
The [Washington] Post reports the IRS expects a much lower return on all
those “rich” people they claim they are going to audit with those 87,000 new
agents, which is an eightfold increase in their budget….
80% Of New IRS Revenue Will Come From Small Businesses Earning Under $200,000
Quote #1 : “The IRS will have to target small and medium businesses because they won’t fight back,” Joe Hinchman, executive vice president at National Taxpayers Union Foundation, told The Post.
Quote #2 : In fact, going after the lower and middle class can actually be more lucrative for IRS auditors than trying to get more money from the wealthy. “The rich have their lawyers and fight it — that’s why the poor are easier to go after,” Hinchman adds.
Quote #3 : Even if small business owners get everything right, they may still be faced with a headache since part of the IRS expansion will involve sending out more notices and letters to businesses, Bunn adds. For individual contractors or small businesses, an IRS letter that they owe more money or made an error on their taxes can put them underwater.
IRS Going After Nickles & Dimes By Lowering Reporting Threshold From $20,000 To $600
Quote #1 : "Before this year, the threshold for filing a Form 1099-K report was at least 200 transactions totaling an aggregate of at least $20,000.
Quote #2 : "When Congress passed the American Rescue Plan Act of 2021, it included a provision that reduced the reporting threshold to a single transaction over $600."
Quote #3 : "President Biden and the Democratic Party have insisted that Americans earning less than $400,000 annually would not have to pay a cent more in taxes."
Quote #4 : But the Joint Committee on Taxation disputes this, saying that between 4% and 9% of the money collected will come from businesses that earn above $500,000 a year.
Quote : “To share information between the SB/SE and WHD to assist in the identification of emerging and ongoing employment tax compliance issues related to misclassification, but its practical effect is to streamline the process for investigating and penalizing businesses that allegedly misclassify their employees as independent contractors. This is the latest memorandum of understanding between federal agencies focusing on perceived widespread worker misclassification in the labor market."
"To remain compliant with the IRS's cellphone policy, you should document business and personal usage for every call, text message and packet of data."
"I recommend a U.S. patented solution from mobilityView Inc. which
automates the separation of business vs. personal use of mobile devices
and services.”
Page 581 : “Like all expenses, business expenses for use of mobility
devices and networks need to be accumulated, categorized, and recorded.
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