Geez. You have to wonder sometimes how these folks got elected.
The House just took back a bunch of money that was appropriated to the IRS to improve operations and effect proper tax audits. And, these dorks claim the claw-back will help balance the budget.
Continue reading IRS gets foiled again
So, let’s debunk some of the BS that the GOP has claiming. The IRS certainly isn’t adding 87,000 armed agents. It isn’t even adding 87,000 agents. In fact, it’s not even adding 87,000 employees- unless one is looking at a ten year time period.
Continue reading IRS changes with the Inflation Reduction Act (sic)
I always feel nervous when I have to amend a client’s taxes. After all, that means that the ability of the IRS to audit their report continues. Normally, there is a 6 year deadline for audits. Except that time frame starts from the due date of the return or the time the taxes are filed- whichever is later. (Yes, that means just because you filed in January of this year for 2021 does not mean that the audit period lapses on 31 January 2028; nope- it’s still [for this year, which the altered due date] 18 April 2028.
So, yesterday, we spoke about TIGTA auditing the IRS. Which is a pretty fancy turnaround of events.
Continue reading Slow as molasses
I am sure this will thrill many of you.
The IRS is getting audited.
Yes, you read that correctly. But, it’s not quite the turnaround many of you would want. This is more related to one of my frequent bitches about the IRS.
Continue reading Who’s getting audited??????
Yeah, I know. You and the media are all incensed that TheDonald deducted $ 70K for his hair sculpturing. I know that comes to about 14,000 cans of Self-Styling Adorn- which is a bit excessive. Except…
Continue reading 2019 Taxes MUST be in by today- or not…
Here we go again!
Another article in the Wall Street Journal that indicates it has stopped providing analysis and depth in news reporting. And, you can bet that a bunch of other papers will use the same basic facts that will mislead you. (Since I wrote that sentence, it has come true- I’ve added the “pack’s” comments below.)
Continue reading Again? Really?
The GOP has done a number on the IRS.
One would think that the IRS was a Democratic Party stronghold by the way they’ve cut funding to the agency. (I guess it’s like TheDonald alleging that the GOP members of Mueller’s investigatory staff all miraculously changed parties from the GOP to effect the investigation of TheDonald’s obstruction of justice.)
Continue reading The Taxman Cometh- NOT!
Tick, tock. The clock is running.
The IRS believes that folks with self-employment income- those who file Schedule C with their 1040- are hiding income. How much? Enough to add $ 125 billion to the US Treasury. (Notice that is the total of the taxes due, not how much revenue is being unreported.) And, these folks are responsible for about 27% of the total taxes not being paid per the law.
Continue reading Dewey, Cheatem, and Howe?
One of the most common questions I receive this time of year (other than: “Can I please do their taxes?”) is. “What are my chances for an audit?”
Continue reading The Taxman Cometh- NOT!
