… a record low business people involved with the administration and what they viewed as business experience. So I think realigning that for Main street and small businesses was essential. And We have seen no effect at the IRS in terms of the revenues from [the 1099K reporting threshold change]. that. That's right. If anything, it's better. In your testimony you mentioned President Trump's signature new tax cuts and specifically the no tax on overtime provision which rewarded hourly workers by allowing them to deduct up to $12,500 or $25,000 for married couples. (02:09–02:15)
CLAIM
Asserts that the change in the 1099K reporting threshold did not affect IRS revenues.
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