TAX CODE HAS NOT CAUSED CORPORATE CHANGE

Tax code has not caused corporate change. One of the provisions of a change to the tax code, was to increase taxes on the Executive Compensation of Corporate Officers. It was intended by Congress to rein in excessive compensation packages that can cause problems in the marketplace. Prior to the change, Corporations were allowed to […]

2021 AND 2022 IRS LACKED ADEQUATE SERVICE

2021 and 2022 IRS lacked adequate service. According to a report issued by the National Taxpayer Advocate’s Office, in 2021 the IRS only answered 12 percent of all calls made to its offices by the public. The bad news is that in 2022 it is probably going to worse, once that report surfaces. The U.S. […]

TAXING THE RICH TO DETER INEQUALITY

Taxing the rich to deter inequality. In the United States the gap between the rich and poor was heightened during the Covid pandemic. More people became poor, and more became wealthy. One simple reason for this is the IRS tax code, which changed in the 50s and early 60s, where the rich used to be […]

CHRISLEY’S CONVICTED OF TAX FRAUD

Chrisley’s convicted of tax fraud. Todd and Julie Chrisley, the famous TV show personality’s have been convicted on all counts of bank and tax fraud after a three week trial. The Chrisley Knows Best starts could get up to 30 years behind bars. A federal grand jury found Todd, 53, and Julie, 49, guilty of […]

WILL CONGRESS TAX CRYPTO

Will congress tax crypto. With the large stimulus proposals passed by both the Trump and Biden administration’s, its apparent that the deficit has grown enormously during the Covid health crisis. Even though this is a once in a century event, and usually government intervention is needed for such things, economists have put out warnings about […]

AMERICANS DRAINING RETIREMENTS DUE TO COVID

Americans draining retirements due to covid. Nearly 60% of Americans withdrew from their retirement accounts during the pandemic, according to a recent survey from finance magazine Kiplinger and Personal Capital, a wealth management organization. The pandemic caused many people to borrow from their future in order to meet everyday needs throughout state shutdowns and the […]

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 […]

WHAT REPUBLICANS AND DEMOCRATS WANT

What republicans and democrats want. Democrats and Republicans both want more $1200 stimulus checks, but huge differences remain in the latest negotiations over coronavirus relief. Congress has approved roughly $2.5 trillion since March to rescue an economy battered by the COVID-19 pandemic. And it doesn’t look like it will be nearly enough. Lawmakers are working […]

STIMULUS NEGOTIATIONS AND WHEN THEY RESUME

Stimulus negotiations and when they resume. Congress went on recess last week without passing a new stimulus relief bill, but the growing crisis with the U.S. Postal Service ahead of the presidential election will bring it back into session. House Speaker Nancy Pelosi said she will cut the House of Representatives break short with a […]

TRUMP TAX DOCUMENTS SHOW PROBLEMS

Trump tax documents show problems. Documents obtained by ProPublica show stark differences in how Donald Trump’s businesses reported some expenses, profits and occupancy figures for two Manhattan buildings, giving a lender different figures than they provided to New York City tax authorities. The discrepancies made the buildings appear more profitable to the lender–and less profitable […]