INQUIRY INTO AUDIT OF COMEY AND MCCABE

Inquiry into audit of Comey and McCabe. The head of the IRS has asked the Treasury Department’s internal investigator to check into the audits of the perceived foes of former President Trump, former FBI Director James Comey and former FBI Director Andres McCabe. The New York Times broke the story that showed that both men […]

IRS STARTS NEW PAGE FOR TAX FILING SEASON

IRS starts new page for tax filing season. The IRS has launched a new resource page on its website located at IRS.GOV, with the latest details and information for taxpayers during this hectic and unprecedented tax filing season. Its unprecedented because the IRS has never entered a tax season before, with so many back tax […]

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 […]

REPORTING FOR LIFE INSURANCE POLICIES

Reporting for life insurance policies. The Internal Revenue Service issued final regulations on the new  information reporting requirements for certain life insurance contract transactions. The requirement was authorized under new section 6050Y, added to the Internal Revenue Code by the Tax Cuts and Jobs Act, the tax reform legislation enacted in December 2017. The final […]

TWO MILLION TAX ID NUMBERS TO EXPIRE

Two million tax id numbers to expire. The Internal Revenue Service has issued a reminder to taxpayers with an expiring Individual taxpayer Identification Number (ITIN) to submit renewal applications. Failing to renew an ITIN by the end of the year may cause refund and processing delays in 2020. In a renewed emphasis on security, due […]

IDEAS FOR TAXING THE RICH

Ideas for taxing the rich. It’s no accident that the Democratic Party went from wanting a 39.6 percent top tax rate to wanting much more. The 1990’s Democratic Party made friends with the rich. The 2008 Democratic Party was eager to bail them out. The 2019 Democratic Party seems ready to declare war. In just […]