IRS Easing Up On Collection Activity During Crisis
The IRS will not be turning over accounts to private collection from April 1 to July 15. That is actually not good news. The private collectors can’t take the nasty actions that IRS is holding back on. If you are taking the passive-aggressive approach having your account with the private collectors is good news, if you don’t mind hanging up the phone every once in a while.
Reilly’s Fifteenth Law Of Tax Planning – If somebody calls you up to talk about your unpaid federal taxes, just hang up.
Paycheck Protection Program Looks Like A Very Sweet Deal For Employers
The legislation is written in such a way that it is clear that they want to shovel out the money quickly. Still. SBA has to come up with what the rules are and let the banks know. Then the banks have to implement procedures. As far as you are concerned what matters is what the bank you go to thinks. Of course, if you think they are being too difficult you can always go to another bank.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.