BIDEN SOLAR ENERGY AND CLIMATE CHANGE

Biden solar energy and climate change. With energy priorities due to the Russian invasion of Ukraine, the Biden Administration seems caught between its climate goals and promises to the Progressive Wing of the Democratic Party, and the shifting sands underneath him. President Biden is publicly committed to expanding solar capacity as quickly as possible to […]

2023 LOW INCOME TAXPAYER CLINIC APPLICATIONS

2023 low income taxpayer clinic applications. The IRS announced that the application period for Low Income Taxpayer Clinic matching grants for calendar year 2023 will open on or around May 3rd, 2022. The LITC Program is a federal grants program administered by the Taxpayer Advocate Service, led by National Taxpayer Advocate Erin Collins. The Taxpayer […]

DETAILS OF BIDENS STIMULUS PLAN

Details of Bidens stimulus plan. Candidate Joe Biden had promised a spending program that would be designed to lift up the middle class of Americans, who he felt were left behind in the last twenty years, by a tax code designed to give all the tax breaks to the top one percent of Americans. Seeing […]

TIGTA CRITIQUES PROTECTION OF DATA

TIGTA critiques protection of data. The IRS continues to have challenges protecting taxpayer data, and especially ensuring that its various applications provide complete and accurate audit trails, according to the Treasury Inspector General for Tax Administration (TIGTA). TIGTA issued a report that highlights IRS shortcomings and challenges, titled Most Internal Revenue Service Applications do Not […]

REPUBLICANS RIP INTO DEMOCRATIC STIMULUS

Republicans rip into democratic stimulus. With the election mostly settled, and the CODI-19 pandemic increasing at an alarming rate, most economist have agreed that a new stimulus proposal is needed to boost the economy. In a matter of weeks, thousands of individuals will be thrown out onto the streets, due to the inability to pay […]

TRUMP SOCIAL SECURITY AND THE ELECTION

Trump social security and the election. Social Security has long been called the “third rail” in American policitcs–touch it at your own peril. With the news cycle dominated by COVID-19 since March, it hasn’t been a hot button issue. But that is changing. On August 8, President Trump signed an executive order to cut the […]

HOW MANY WITHDREW 401(K) DURING PANDEMIC

How many withdrew 401(k) during pandemic. The CARES Act, which went into effect this spring, allows savers to withdraw up to $100,000 from their 401(k) plans and waive the 10% early withdrawal penalty if they’re under age 59 and a half. A fraction of savers took the measure available, according to plan providers. While 2% […]

SMALL HOSPITALS BILKED IN BAILOUT FUNDS

Small hospitals bilked in bailout funds. This past spring, Providence Hospital received at least $509 million in government funds, one of the many wealthy beneficiaries of a federal program that is supposed to prevent health care providers from capsizing during the coronavirus pandemic. With states restricting hospitals from performing elective surgery and other nonessential services, […]

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 […]

OWE TAXES YOU MAY LOSE YOUR PASSPORT

Owe taxes you may lose your passport. If you owe the IRS more than $52,000 in overdue taxes, you may not be able to get a new passport or renew your existing one–or it might be revoked, whether you’re home or abroad. The IRS has notified more than 400,000 taxpayers that their passports are at […]