AFTER AUDIT DECLINE IRS TO AUDIT MORE

After audit decline IRS to audit more. After a long period where the IRS was auditing less, especially against the richest Americans, the trend is finally swinging back to more audits. The reason has to do with ballooning federal budget deficits. The Biden Administration has made it a priority to give the IRS additional funding […]

IRS DESTROYED 30 MILLION PAPER FILINGS

IRS destroyed 30 million paper filings. In a highly controversial move, the IRS destroyed 30 million paper filings. This was a result of the backlog that started when the Covid crisis began. The IRS, along with a large number of other government agencies and companies, shut down operations during the first 7 months of the […]

CARES ACT EXTENSIONS AND PROVISIONS

Cares act extensions and provisions. Educator expenses for protective equipment. The bill requires the Treasury to issue regulations or other guidance providing that the cost of personal protective equipment and  other supplies used for the prevention of the spread of COVID-19 is treated as an eligible expense for purposes of Sec. 62(a)(2)(D)(2). Money purchase pension […]

JOE BIDEN VERSUS BERNIE SANDERS ON TAXES

Joe Biden versus Bernie Sanders on taxes. While the Democratic candidates seem to be pared down really to two viable candidates, the tax stances on these two are widely different, based upon the vision of each for the country and economy. While both have the country’s best interests at heart, how they achieve that, and […]