IRS BEING FUNDED TO START COLLECTING

IRS being funded to start collecting. After years of under funding at the IRS, Congress weary of the political fallout from increasing deficits, have decided to fund the one government agency that actually returns nearly $14 for every dollar invested into it, the IRS. It doesn’t take a rocket scientist to figure out that when […]

IRS TO AMEND GIFT AND ESTATE TAX EXCLUSION

IRS to amend gift and estate tax exclusion. The issued proposed regulations that would provide an exception to the anti-clawback special rule that preserves the benefits of the temporarily higher gift and estate basic exclusion amount. The regulations would apply to certain transfers that are includible, or treated as includible, in a decedent’s gross estate […]

BIDEN WANTS IRS TO DRIVE HIS RECOVERY

Biden wants IRS to drive his recovery. As the President moves his Covid recovery through the IRS, the nation’s tax collector will take on an expanded role as comptroller of the social safety net, delivering billions of dollars in stimulus payments to millions of American households. But the missions threatens to stretch the agency between […]