We’re frustrated.

More than a year ago, we sounded the alarm on one of the largest and sneakiest non-legislated tax increases in American history. This was an 11th-hour Biden IRS tax regulation (yes, the same Joe Biden who hired thousands of new IRS agents to harass businesses) that will raise taxes on legitimate business partnerships by $50 billion over 10 years.

A Wall Street Journal editorial late last year trashed the scheme as “an IRS plot against business partnerships.”

About 8% of all businesses in America are organized as partnerships and they account for at least four million jobs. Many are filling out their 2025 tax returns and will get blindsided by this stealth tax hike.

Why hasn’t the Trump IRS, which (unlike the Biden administration) is supposed to be PRO-business, fixed this Biden-era scam? Treasury Secretary Scott Bessent and IRS CEO Frank Bisignano should reverse the Biden shakedown on these businesses immediately.