INFLATION MAKES NEW CALL TO TAX RICH

Inflation makes new call to tax rich. The Davos summit of the rich and powerful did nothing to restore the confidence and trust of the masses. After dealing with the problems of Covid, then having inflation rear its ugly head higher than the last 40 years, people are looking to restore the tax system to […]

IRS BEHIND NEARLY 17 MILLION TAX RETURNS

IRS behind nearly 17 million tax returns. The IRS has seen the problems due to Covid and the government shutdown now have a serious impact on the 2022 filing season, as they still have to grapple with getting back unfiled tax returns form the previous two years completed. Angry taxpayers expecting tax refunds, will have […]

IRS CREATES CASE MANAGEMENT OFFICE

IRS creates case management office. The Internal Revenue Service has created the new Enterprise Digitalization and case Management office, which will spearhead IRS efforts to empower taxpayers and IRS employees to rapidly resolve issues in a simplified digital environment. The office’s efforts will support overall IRS modernization and implementation of long term changes stemming from […]

USING LIFE INSURANCE FOR INVESTMENT

Using life insurance for investment. There is, without a doubt, no type of insurance we like to think about less than life insurance. It’s a financial product that, by its nature, is geared toward answering questions of when and how you’ll die, possibly even prematurely–and, subsequently, how the nearest loved ones in your life will […]

COALITION WANTS CHANGE FOR PPP LOANS

Coalition wants change for PPP loans. With all the talk that large companies were getting the bulk of the Paycheck Protection Program loans, other criticisms have been forthcoming also. One has been that the way the pay calculation is made is not an accurate determination for what a company really needs. An AICPA led small […]

GETTING READY FOR YOUR 2019 TAXES

Getting ready for your 2019 taxes. The Internal Revenue Service urged taxpayers to act now to avoid a tax time surprise and ensure that they have smooth processing of their 2019 federal tax return. The IRS urges everyone to use the tax withholding calculator to perform a paycheck or pension income checkup. This is even […]

TAX REFUNDS THIS WINTER UNLIKELY

Tax refunds this winter unlikely. It’s unfortunate that the IRS has been furloughed, because an awful lot of low income households rely on the Earned Income Credit to help them get through the winter. With the holidays behind them, millions of americans are putting a new priority on the calendar: getting caught up on the […]

ROTH 401K FOR IRS TAXES

Roth 401k for IRS taxes. If you are looking forward to a retirement spent paying hefty tax bills, a trend called the Roth 401 K has developed to help buy your ticket to happiness. Once you turn age 70 and a half, you are forced to start taking money out of your retirement plan, the […]