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Second Stimulus Check – Wait For Something To Pass
Way back on June 1, 2020, which seems like eons ago, HR 6080 was passed by the House of Representatives and went to what is usually the final resting place of anything the House passes – the Senate.
The bill included an additional “rebate amount” of $1,200 plus $1,200 for each dependent up to three. Phaseout starts at $75,000 single, $112,500 HOH and $150,000 joint modified adjust gross income. The modifications relate to exclusions for income earned outside of the fifty states and DC
Marching Through Georgia – Class Action Lawsuits Against Conservation Syndicators
Regardless among the most colorful members of the faculty were the sergeants. Sergeant Daley, in particular, would pepper his instruction with anecdotes about Army life. One of his stories was about being in a bar in Atlanta shooting pool. He started whistling Marching Through Georgia (which perhaps was going through a revival thanks to Tennessee Ernie or maybe because it celebrates one of the great achievements of the United States Army).
A couple of fellows looked at him kind of ominously and then one of them walked up to him and politely but firmly told him “We don’t like that tune around here very much”.
Trump Tweet On Universities Invokes Specter Of Supreme Court Bob Jones Decision
Now in the Trumpian view of the universe, public policy is what President Trump says it is. So protecting the kids from “Radical Left Indoctrination” is public policy. If any of that is going on at your university, as the Soup Nazi would put it – No exemption for you.
Make The IRS Great Again
Regardless, there are some people who instead of honing selling and political skills become great accountants. Some of them are very compliance oriented. They get frustrated by things not being right, because things should be done right, because right is right even though the client doesn’t want to pay for it and the IRS will never figure it out.
That’s who the IRS should be hiring. In many areas of tax practice the best and the brightest work for the IRS for a few years, then go into public accounting or the law firms for much bigger money. The IRS should turn the tables and grab up the compliance-oriented people who know where the bodies are likely buried. IRS could offer good benefits, a better work life balance and a great deal of perverse satisfaction.
If The IRS Plays Politics With Tax-Exempts, President Trump Is Holding A Smoking Tweet
But there’s a nontechnical problem, too, which is in many ways worse. President Trump seems to want to emulate the worst aspects of President Nixon. Nixon tried to use the IRS to attack his enemies. And Trump wants to use the IRS to attack people and organizations with which he disagrees. Fortunately, there are protections in place making it hard for him to use the IRS this way. But he’s proven particularly effective at ignoring and subverting norms; this is one that I hope he doesn’t manage to subvert
What Mary L Trump Needed Was Forensic Accounting
In 2017, Mary was approached by the New York Times. She told them that she did not have any documentation, but they suggested that the attorney might. As it turned out there was a trove of documents, which she turned over to the Times.
According to her account, those documents would prove that her grandfather’s estate was worth a billion dollars.
Taking this at face value, the question is why were there not forensic accountants and independent appraisers going through those boxes before settlement? No offense to the Times, but they probably would have figured it out a lot quicker than a team of investigative reporters.
TIGTA – IRS Scores 98% On First Stimulus Payments
And then there are 40,656 individuals who already have their second stimulus payment, even though they were only supposed to get one. It appears that that was a sort of divorce bonus. People appeared as the secondary name on 2018 joint returns and then they filed their own return in 2019.
Paycheck Protection Shaming – Just Stop It
Originally published on Forbes.com. The SBA has released data on the Paycheck Protection Program. 5,461 lenders made 4,885,388 loans totaling $521,483,817,756. Tax Pro...
Preparers May Fight IRS On PPP Deduction Denial-Hundreds Of Billions At Stake
Originally published on Forbes.com. One of the most exciting features of the Paycheck Protection Program was that it appeared that borrowers were going to be getting...
Newly-Released IRS Data Book Shows Continued Downsizing of IRS and Taxpayer Audits
While hindsight is certainly 20/20, it has become harder to doubt that a short-staffed IRS has made handling the economic effects of this year’s pandemic all the more challenging. The U.S. government should perhaps consider an increased mobilization of staff to handle the complexities that will arise due to the various rule changes and concessions triggered by this year’s unprecedented events.