OUTDATED TECH THE REASON FOR RETURN FIASCO

Outdated tech the reason for return fiasco. Over the last decade, prior to the Biden Administration’s plan to update the IRS workforce and technology, the IRS had the oldest computer system in the entire U.S. Government. When 30 million information returns were “dumped” inadvertently, the finger pointing began. A statement by the IRS said “Broadly, […]

IRS TAXPAYER ASSISTANCE CENTERS OPEN

IRS taxpayer assistance centers open. Years ago the IRS had a program, that started in just a few cities but was such a success that it went to dozens more, in an effort to give taxpayers with difficult situations a chance to get the IRS problem fixed in one weekend. It appears that the IRS […]

DISCHARGED STUDENT LOANS NOT REPORTED

Discharged student loans not reported. Many changes to the tax code happen, and the economic cycle certainly plays a big role in that. When the economy is down, the government of the United States, and generally most all governments, try to accomodate citizens, by passing laws to help them get by in uncertain times. Covid […]

STEVE BANNON SAYS TO TAX THE RICH

Steve Bannon says to tax the rich. Steve Bannon demanded that the U.S. increase its taxes on the wealthiest Americans, arguing that the current situation is “absurd” and that the country is “being scammed” by multibillionaires. The Ex-senior counselor to former President Trump went on a rant against tax avoidance by the nation’ wealthiest people […]

TAX CUTS AND JOBS ACT

Tax Cuts and Jobs Act. It changed an awful lot of the Internal Revenue Code. Getting familiar with the changes will take some time, but knowing many of the changes, especially is you are doing your own taxes, is essential, to do them right. Here are some of the highlights it. Tax Cuts and Jobs […]

HIGH INCOME TAXPAYERS ALERT

High income taxpayers alert. High income taxpayers alert by the IRS for complex tax returns. The IRS is urging taxpayers to check their withholding soon to avoid an unexpected tax bill or penalty when they file their 2018 federal income tax return in 2019. The high income taxpayers alert was issued so that high income […]