Wednesday August 31, 2022 – As we talked about on this show, the Amercian Rescue Plan required third-party e-commerce platforms like eBay, Poshmark, Mercari, Depop, and Tradesy to issue a 1099-K tax form to anyone … Continue reading Here They Come – 1099-Ks
Regulating Digital Assets: SEC v CFTC
Tuesday August 30, 2022 – The battle for control of the Digital Asset marketplace is fully engaged. The question “will the US Government control cryptocurrency and other digital assets” has been answered. Yes. The new … Continue reading Regulating Digital Assets: SEC v CFTC
Can The IRS Use $80 Billion?
Monday August 29, 2022 – The recently passed Inflation Reduction Act awards the IRS $80 Billion, nearly doubling the IRS Budget. Earlier this year Congress approved an increase in IRS budget to add 10,000 employees. … Continue reading Can The IRS Use $80 Billion?
Rettig Knocks Down Strawman
Attoreny Steven A. Leahy asks the question – Why not answer real questions Commissioner on Today’s Tax Talk. https://finance.yahoo.com/news/irs-sets-the-record-straight-130049197.html https://nypost.com/2022/08/13/gop-demands-answers-on-700k-ammo-stockpile-for-irs-enforcement/ https://www.verifythis.com/article/news/verify/government-verify/internal-revenue-service-did-buy-nearly-700k-in-ammunition/536-0ce9f538-a372-4c26-8013-1ab4e571578c
Penalty Relief For Taxpayers
Wednesday August 24, 2022 – Today the IRS announces broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being refunded to 1.6 million taxpayers. IRS Commissioner Charles … Continue reading Penalty Relief For Taxpayers
Blockchain Doesn’t Need Crypto
Tuesday August 23, 2022 – Cryptocurrency has been all the rage since Satoshi Nakamoto’s famous Whitepaper “Bitcoin – a Peer to Peer Electronic Cash System.” Turns out, that famous whitepaper was really about the Blockchain. … Continue reading Blockchain Doesn’t Need Crypto
Will $80 Billion Fix The IRS?
Thursday August 18, 2022 – Congress has awarded the IRS $80 Billion! It’s like winning the lottery! The recent problems with the IRS are well known: Huge backlog of tax return processing, delays in issuing … Continue reading Will $80 Billion Fix The IRS?
IRA – Fact Check Fact Checkers
Wednesday August 17, 2022 – Well, President Bident signed the Inflation Reduction Act into law yesterday. The IRS just received an additional $80 Billion dollars over the next 10 years – a 75% increase in … Continue reading IRA – Fact Check Fact Checkers
Digital Assets & The Inflation Reducton Act
Tuesday August 16, 2022 – President Biden signed the Inflation Reduction Act today. You may not know the Inflation Reduction Act allocates $4.6 billion dollars to “Enforcement.” The Act also explictly directs the IRS to … Continue reading Digital Assets & The Inflation Reducton Act
The Inflation Reduction Act Is Good?
Monday August 15, 2022 – The Inflation Reduction Act (IRA) is not yet law, but will be too soon. Democrates and Progressives think the IRA is going to solve all of our problems by making … Continue reading The Inflation Reduction Act Is Good?
