And you thought listening was fun!
Monday March 20, 2023 – The Biden Administration’s proposed budget for 2023 is out. The budget proposes increasing spending from $5.8 Trillion to $6.7 Tillion. It’s clear from the administration’s proposals, they are not serious … Continue reading Biden Budget Adds $43 B to IRS
Thursday March 16, 2023 – The Inflation Reduction Act was passed in August 2022. The Act provided $80 Billion over 10 years. The vast majority of those funds are directed to enforcement almost 60%. Only … Continue reading $80 Billion – Where Will The IRS Spend It?
Crypto-Tuesday March 14, 2023 – Pi Day – Now that the Government has effectively guaranteed every deposit in every bank in America, Cryptocurrency prices have seen a sharp increase., Coinbase (COIN 5.88%) rose 11.9% on … Continue reading Crypto Come Back?
Monday March 13, 2023 – The Administration has been clear (??) the Inflation Reduction Act funding to the IRS, almost $80 billion, will not be used to Audit those making less than $400,000 per year. … Continue reading Yellen: 90% Of New Audits On Small Business
Thursday March 9, 2023 – Did you hear about H.R. 25, the Fair Tax Act of 2023. This bill was introduced in House of Representatives in January 2023, right after the Republicans took over. Supporters … Continue reading FairTax Act of 2023
Wednesday March 8, 2023 – Sen. Joe Manchin (D-WV) has announced that he will vote against, President Biden’s choice for head of the Internal Revenue Service (IRS), Daniel Werfel. Manchin is dissatisfied with the way … Continue reading Manchin To Vote “NO” on Werfel Confirmation
Crypto-Tuesday March 7. 2023 – Cryptocurrency has emerged as a popular form of investment and a means of trade. The US government has been increasingly cracking down on the use of cryptocurrencies, with various agencies … Continue reading Are Federal Agencies Killing Crypto In US?
Monday March 6, 2023 – The Sixteenth Amendment to the Constitution provides Congress with the “power to lay and collect taxes on incomes, from whatever source derived.” Gambling can be a fun and exciting activity. … Continue reading Gambling With The IRS
Thursday March 2, 2023 – As a tax attorney, I am always interested in the unusual. Like the tax implications of catching a record-setting baseball. Or finding a shipwreck with $800 million worth of whiskey. … Continue reading Taxing The Treasure Trove
Wednesday March 1, 2023 – Back in January we did a story about The Supreme Court refusing to hear a case of excessive fines for inadvertently failing to file a timely bank disclosure form called … Continue reading Supreme Court Rights A Wrong
