TAX RELATED IDENTITY THEFT PART TWO

Tax related identity theft part two. Tax related identity theft happens when someone will take a person’s stolen Social Security number to do one of a few things. They may file a fraudulent tax return, with a phony address, hoping to get a refund check, in which case they may also try to steal your […]

BIDEN MAY PUT MORE CASH IN YOUR WALLET

Biden may put more cash in your wallet. With the election in the rear view mirror, President elect biden may have to deal with a divided government. Republicans are on track to keep control of the Senate, yet that hinges on the Georgia runoffs. The former vice president has unveiled plans that could put extra […]

FINAL REGULATIONS FOR CHARITIES

Final regulations for charities. The IRS issues final regulations on the treatment of payments made to charitable organizations in return for consideration, including in return for state and local tax credits. The regulations finalize proposed regulations issued in December 2019 and also incorporate two earlier pieces of IRS guidance, Rev. Proc. 2019-12 and Notice 2019-12, […]

FILING YOUR TAX RETURN WILL NEVER BE THE SAME

Filing your tax return will never be the same. After passage of the Tax Cuts and Jobs Act, and the expectation that tax return rates across the board would go down, it came as quite a surprise to many tax professionals, and their clients, to realize they actually had an increased tax bill. One aspect […]

WEALTH TAX AND EFFECTS ON POLITICS

Wealth tax and effects on politics. We should be wary of a wealth tax because Henry Ford hated Jews. That’s the argument Harvard economist and former director of the national Economic Council Larry Summers made on Twitter last Saturday, stirring up such a firestorm that he had to apologize and clarify. His argument: Henry Ford […]

IRS REVENUE OFFICER ?

IRS Revenue Officer ? The IRS has created a special http://irs.govnew page on www.irs.gov to help taxpayers determine if a person visiting their home or place of business claiming to be from the IRS is a legitimate IRS revenue officer or an imposter. With continuing phone scams and inn person scams taking place across the […]