Tax Advisor Barry G. Fowler Addresses IRS’s Failure to Share in the Sharing Economy
Barry G. Fowler, EA, leading expert in tax resolution issues and CEO of Taxation Solutions shares information relevant to the sharing economy and offers his help to those in this emerging economy who find themselves in trouble with the IRS.
Houston, TX – June 30, 2016 – Barry G. Fowler, CEO of Taxation Solutions, posted a new article on his website entitled “What Happens When The IRS Does Not Share with the Sharing Economy?” When left to our own devices, we could all be in trouble with the IRS. However, Mr. Fowler turns his attention to one group that is definitely headed for IRS trouble.
Fowler writes, “As children we all learn that sharing is a good thing. We shared our candy and our lunches and our toys.” He continues adding, “Yet, when we become adults, sometimes sharing gets reprogrammed out of our systems. Sometimes those who make it to powerful positions in government are not inclined to share. I’m not just making this up.”
According to Fowler, “While the sharing economy, which includes AirBnB, Uber, and others continues to grow at a record pace the IRS has yet to address the tax rulings for these emerging industries. They leave it to the individual entrepreneurs to figure it out for themselves. That is an enormous number of people left to figure things out on their own.”
“According to the article on TaxNews.com,” writes Fowler, “The hearing’s advisory information noted that 4.2 percent of adults, or 10.3million people, earned income on the platform economy (including online intermediary sites such as Uber, Etsy, Lift, and AirBnB) during the three-year period from October 2012 to September 2015; a 47-fold growth over the three-year period.”
“Regular taxpayers,” says Fowler, “can’t keep up with the changing IRS rules, let alone an emerging industry that presents new challenges to the tax code.”
The entire article can be read at http://www.taxationsolutions.net/what-happens-when-the-irs-does-not-share-with-the-sharing-economy/
About Barry G. Fowler, EA
Barry G. Fowler founded Taxation Solutions out of a genuine concern for the IRS issues his clients face, many of whom are self-employed, contract employees, or entrepreneurs. For his contributions to his profession and expertise in tax resolution and financial planning, Fowler has been featured as one of America’s Trendsetters on CBS and Yahoo, and as a Premier Expert in Inc. Magazine. He has been instrumental in helping hundreds of people resolve complex tax issues with the IRS.
Fowler is licensed to represent taxpayers before the Internal Revenue Service, and is a longstanding member of several tax industry professional organizations: NAEA, NATP, TSEA, ASTPS.