NY Times Quotes Arshi Siddiqui on Tax Laws
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For its article “How New I.R.S. Rules Could Affect Venmo, Etsy and CashApp Users,” The New York Times quoted Akin Gump public law and policy partner Arshi Siddiqui. The article discusses how the Internal Revenue Service (IRS) is seeking to crack down on tax evasion by small businesses and those in the gig economy.
Siddiqui is noted as representing a business coalition looking to change the new tax requirements. She said that she expects as many as 50 million taxpayers would receive new tax statements for the first time as a result of a measure inside the American Rescue Plan.
Said Siddiqui, “If Congress doesn’t act, we’ll see a tsunami of [Form] 1099s going out to people who will be confused.” She added that she thinks that the Treasury Department, the IRS’s parent agency, could change or delay the tax measure on its own.
