IRS INCREASES GAS MILEAGE WRITE OFF

IRS increases gas mileage write off. As the economy shifts gears due to Covid, the war in Ukraine, and the Federal Reserve changing from a dozen years of easy money, to a more restrictive monetary policy, not to mention the rampant inflation that has overtaken the entire world, the IRS decided to increase the mileage […]

DISAPPEARING DIVIDENDS FROM RETIREMENT

Disappearing dividends from retirement. Pension funds and other investors are smarting from the worst quarter for stocks since 2008. Now many are bracing for more pain as companies slash dividend payouts in the face of a global recession that is wiping out their revenue and putting million of their workers out of a job. Banks […]

TWO MILLION TAX ID NUMBERS TO EXPIRE

Two million tax id numbers to expire. The Internal Revenue Service has issued a reminder to taxpayers with an expiring Individual taxpayer Identification Number (ITIN) to submit renewal applications. Failing to renew an ITIN by the end of the year may cause refund and processing delays in 2020. In a renewed emphasis on security, due […]

GOP CUTTING TAXES ?

GOP cutting taxes ? The GOP is supposed to be really good at cutting taxes. President George W. Bush cut taxes. So did President Roanld Reagan, though he also raised them. So why are Republicans now struggling mightily to reach a consensus on how to overhaul the nation’ tax system ? And why is President […]