36 Burst results for "IRS"

Fresh update on "irs" discussed on The Dan Bongino Show

The Dan Bongino Show

02:01 min | 5 hrs ago

Fresh update on "irs" discussed on The Dan Bongino Show

"Dan breaking news No one tunes into the tampon Gino radio show here Joe Biden lies You just know that It's not something like you tune into a radio show to hear about But what's always irked me about the depth and the just the commitment to the leftist propaganda machine and the endless lies they pump out there is they never give up the lie I almost admire him for this and kind of a weird way Almost admire love Their commitment to the lie is just it's so deep in profound no matter how much data comes out to prove the lie is false They will stick to it no matter what And there's a reason for that One of the reasons they do it is we have a joke of the media's grotesque in this country no matter what the left says they will give them a pass as long as that we already know But second there is an entire community of so called fact checkers out there that are really full-time left wing activists And when they have an opportunity to correct the left and dispel a myth that's like a tick embedded itself into the culture They don't do it They fact check if Nancy Pelosi is buying a house in Florida because they're idiots Here's what I'm talking about An article came out today it'll be in my newsletter if you want to take a look bungee know what dot com slash newsletter The IRS data now from the Trump tax cuts here has come out and is now conclusive The IRS day it's not Dan Bon Geno's data It's a Jim Bertie's data The IRS data is now come out about the Trump tax cuts And every single thing the left told you is false Now you may be saying okay Dan we know that I mean the left told us it was all about the rich and tax cuts for the rich It's been proven conclusively false by the IRS's own data now So why am I bringing up now Because that doesn't matter to these leftist hacks and goons who are total liars in front They continue in their effort to push for Biden's Bill back worse plan Continue to promote the false narrative that the Trump tax cuts have to be repealed and tax cuts have to go over have to go up on the rich Tax cuts have to go away for the rich Because the Trump tax cuts exclusively benefited the rich and screwed over the middle class Folks we now have the data that that was all crap It was all made up We have the IRS data right here This Washington examiner piece eviscerates that narrative destroys it As it turns out those Trump tax cuts years which Biden wants to get rid of largely benefited you in the middle class The numbers are right here Here from the Washington examiner piece a careful analysis of detailed tax data that came into effect a year after the Trump tax cuts wasn't effect The IR is now available The IRS income did reveals that over just one year Households with the gross income of 15,050 $1000 So you'd say what The lower lower middle class rank So other total tax bills cut by an average of 16 to 26% With most employers middle class lower middle class enjoying an 18% tax cut Similarly filers enjoying between 50 earnings excuse me between 50 and a 100,000 one of the largest groups of taxpayers They say middle upper middle class right Experience the 15 to 17% tax cut on average from 2017 to 2018 Folks it's the IRS's own data None of this matters None of it matters I guarantee you when Biden gives a speech on his bill back worse plan and hiking taxes to pay for it I can guarantee you he's going to say that the middle class didn't get a tax cut under Trump even though the IRS data makes it clear and conclusive that that's a lie And he's gonna go on to argue that the rich got over and that they got a bigger tax cut than you That's false too I'm gonna take a break but on the other side of this break I'm gonna show you the IRS data showing that the rich got a lesser tax cut than you did in the middle class number one And number two the rich after the Trump tax cuts played a greater proportion of the income tax than they did before the tax cuts Believe me I'm under no illusion any of this will make a difference for these leftist nuts but I want you to know because you listen to this show and we're committed to truth facts and data I want you to know and I want you to understand that when Biden now gives his speech this week and next week about the bill back worse plan and talks about how Trump tax cuts screwed over the middle class guy It was a rich it was all for the rich I just want you to know that guys a liar and a clown and he's making the whole thing up and the date is right in front of you And if you believe him you choose to be stupid It's stupid by choice not by osmosis More on that and the other side of the break I'm damn boggy We'll be right back.

IRS Dan Bon Geno Jim Bertie Biden DAN Joe Biden Nancy Pelosi Washington Florida Donald Trump
Peter Doocy Presses Jen Psaki on 'Build Back Better' Bill Raising the Deficit

Mark Levin

01:41 min | 2 weeks ago

Peter Doocy Presses Jen Psaki on 'Build Back Better' Bill Raising the Deficit

"Jen Psaki still claims that the bed the build back better Whatever We'll reduce the deficit Even after the congressional budget office has said no it won't See this is what Jason whitlock was talking about on my Fox show last Sunday You have people who reject the truth who deny the truth And this is what destroys a country They want to believe what they want to believe That's their truth And they reject evidence they reject knowledge They experience In fact and they point the finger at you claiming you do That's what destroys a country Peter doocy that young man deserves every award in journalism He really does Cut 14 Go President gonna stop saying the build back better plan does not increase the deficits One single scent We now know that that is not true It is true and I would note the several economists and experts out there I think you're probably talking about the CBO score Which Joe Biden himself in 2010 called the gold standard For Democrats and Republicans Will Peter since we're all here to communicate with the public about accurate information what I would just note is that one of the components that experts Democrats and Republicans including former heads of the CBO have pointed to is that IRS IRS enforcement is not something that there's a lot of experience in the CBO a scoring They still squirted but it's got to shut up you idiot You liar

Jen Psaki Jason Whitlock Peter Doocy Congressional Budget Office FOX CBO Joe Biden Peter IRS
Rep. Nicole Malliotakis: The Infrastructure Bill Is 'Incredibly' Important for Aging Cities Like New York

Mike Gallagher Podcast

01:59 min | 3 weeks ago

Rep. Nicole Malliotakis: The Infrastructure Bill Is 'Incredibly' Important for Aging Cities Like New York

"Right, let's listen to Nicole malli attack. This is the congresswoman from New York. Again, I've always liked her. So disappointed that she voted with 12 other Republicans in the House and rescued the Biden agenda as The Wall Street Journal editorial which I'm going to share with you points out. Listen to her comments to Bill hemmer and Dana perino this morning on Fox News. 19 Republican senators voted for it as well. But for those who did not, they just think this is a bad Bill. Why did it get your yes vote? Well, this bill, look, I read this bill, and it is covered to cover infrastructure. $350 billion is going to roads highways and bridges, which you would consider traditional infrastructure, and in the other 550 billion is for ports, airports, seaports, ferry systems, coastal resiliency projects, like the east or seawall that's so important to my district. Sewer systems, which is so incredibly important following Ida, the damage that took place in New York City, upgrading our subway signals to a communication based train control. We're still relying on pre World War II equipment in some subways. So for an aging city like New York City, this bill was incredibly important. And the reality is is that this is the type of investment that people actually pay taxes for those basic infrastructure needs that you expect from government, but have been neglected for decades. And as you reported earlier, I also believe that we significantly took away the leverage from the socialist squad. It is why AOC and the others voted against it because they knew that if the true infrastructure Bill passed, the spotlight would go onto their social spending bill that includes the IRS agents. It includes the Amnesty. It includes giveaways to those who are in the country illegally, the taxes, the vaccine mandates and penalties, all of that that we remain opposed to and we are going to fight tooth and nail with the moderate Democrats to

Nicole Malli Bill Hemmer Dana Perino Biden The Wall Street Journal Fox News New York City Bill New York House AOC IRS
Senators Joe Manchin and Kyrsten Sinema Continue to Block Biden's Agenda

Mike Gallagher Podcast

00:48 sec | Last month

Senators Joe Manchin and Kyrsten Sinema Continue to Block Biden's Agenda

"Nothing's over yet. We have a long way to go before we can reclaim America, but I like the momentum. I like the way things are going right now. Biden's agenda is blowing up. He's making a last ditch effort to try to save it. It's fallen apart thanks to Joe Manchin and Kirsten sinema. I can not believe that our entire country hangs in the balance with a couple of feisty, moderate Democrats holding the line. They are. They're holding the line and Joe Manchin is evidently talking Biden out of the capital gains tax increases. He's talking Biden out of the IRS, snooping around our bank accounts. It's quite a thing

Kirsten Sinema Joe Manchin Biden America IRS
Biden Administration Wants to Use the IRS to Spy on Your Bank Account. Period.

The Dan Bongino Show

01:47 min | Last month

Biden Administration Wants to Use the IRS to Spy on Your Bank Account. Period.

"So peppermint patties up there at the in the Brady press room And she can't stop lying It's like an impulse control problem Peter doocy is pressing her right now on both vaccine mandates and the IRS snooping and she just can't be cheesy incapable I believe physically incapable Like the vocal cords the tongue the whole mechanism for which she produces sound is incapable of producing a sound that resembles the truth Listen to me and listen clearly The IRS under Joe Biden Joe Biden's administration wants to use the IRS to spy on your bank account Period That's not open for debate That's not open for discussion I don't play euphemisms games That's a fact They think your money is their money and therefore they should be able to see everything you spend money on every withdrawal That's why they want a digital currency as well There's nothing more they'd like and to monitor your transactions outside of the bank as well Listen to me This is what totalitarians and tyrants do They do totalitarian stuff which is totally running your life and taking from you what they believe is theirs That's why they want you to stick things in your body like a vaccine whether you want to or not That's why they demand access to your bank account And she can not stop lying She's trying to play this fancy word game Well now we were gonna look at everybody's bank account that had $600 in transactions Now we're just gonna make it 10,000 Folks most people have direct deposit I assure you the overwhelming majority of Americans are going to have some transactions in their account that total the $10,000 or more Why are they entitled to

IRS Peter Doocy Joe Biden
Ernst Slams Democrats' Spending Spree

The Hugh Hewitt Show: Highly Concentrated

01:17 min | Last month

Ernst Slams Democrats' Spending Spree

"Thank you. I want to begin by asking you about the headlines this morning that Democrats are attempting to write both a billionaire's tax language and an Amnesty proposal into legislation that you haven't seen I assume. What could go wrong, senator? Oh, heavens. What could go wrong? Absolutely everything could go wrong. And we have been discussing some of these proposals that the Democrats are coming up with. And of course, you are absolutely correct. We haven't seen anything in writing, which is very typical around this place. But what they're proposing is the billionaires could be taxed on what's called unrealized capital gains on their liquid assets. Meaning, wealthy, billionaires, they would be taxed on things like stocks or other assets like real estate where they actually haven't seen any money yet it's unrealized. Well, how do you do that? And what happens if you lose money in your stock portfolio? Does the government give you money back? If it's a crazy scheme and I guess we'll just have to have IRS agents living with billionaires so they can figure all this stuff out.

IRS
Former Virginia Governor Douglas Wilder Expresses Disappointment With Kamala Harris, Terry McAuliffe

Mark Levin

01:41 min | Last month

Former Virginia Governor Douglas Wilder Expresses Disappointment With Kamala Harris, Terry McAuliffe

"I wanted to tell you and I forgot but now I'm back About Doug wilder remember I had mentioned him From a Virginia governor first black governor of Virginia last black governor of Virginia He is disgusted with mcauliffe and Kamala Harris And as his reported here Yahoo Douglas wilder the only black governor of Virginia's history Is no fan of the video endorsement Vice president Kamala Harris made for Terry mcauliffe which is being played Sundays and hundreds of the old dominions black church I mean it's so illegal It's so in your face Mcauliffe is pushing it The White House has put because they know nobody's going to charge them They know nobody's going to go after them because they own the whole damn government Now when we own it right When we have all the branches of government we have whistleblowers Whistleblowers with their dog whistles just blowing whistles all over the place Oh and then we have congressional hearings We had the Washington compost and CNN You get it The ad which ethics and legal experts say a clear violation of IRS rules as I pointed out weeks ago is set to continue playing right up until the November 2 gubernatorial election They don't care And by the way I'm not the only one about a week after I pointed this out Jonathan turley said the same thing Anybody who is a serious lawyer who knows something about how this works knows that this is illegal So the Democrat party as it says here is pulling out all the stops to ensure black turnout even breaking the IRS law But a thumbs down from the 90 year old wilder a Democrat highly respected voice in Virginia politics for decades is significant again African

Douglas Wilder Virginia Kamala Harris Mcauliffe Terry Mcauliffe Yahoo White House IRS CNN Jonathan Turley Washington Democrat Party Wilder
Joe Biden Overhauls Power Across His Administration to Control You

Mark Levin

01:22 min | Last month

Joe Biden Overhauls Power Across His Administration to Control You

"Now you can imagine the power that Joe Biden wants to give this department And the Treasury Department in the other departments in terms of tracking your checking accounts and savings accounts and you're borrowing habits loans that you might take Or if you sell a pickup truck that's where $12,000 And they want you to pay income taxes on it They want to track it and they want to be able to question you not all of you They want to hire Listen to me 85,000 new auditors 85,000 new IRS auditors 85,000 To track you Mandates with people losing their jobs even though they won't harm anybody because they have natural immunity 85,000 new IRS auditors The FBI Fredo investigate parents at school board meetings The southern border wide open MS 13 Drug cartels fentanyl pouring into the border Americans dying like never before The murder rate through the roof Through that damn roof You want to give these bastards more

Joe Biden Treasury Department IRS FBI
Caller Talks About Liberals Not Understanding Biden's Tax Plan

Mark Levin

01:28 min | Last month

Caller Talks About Liberals Not Understanding Biden's Tax Plan

"Kind of talk to you about the whole tax bill crap going on right now at the IRS I got people I work with I work for the big chain publics and which by the way they are great great Super Mario I love publics And I'm in Florida They are terrific These people that talk about socialism man I mean if there was a thing socialism at work there would be public Cell phone part you know company and all But besides that besides that I mean I work with people that just are die hard die hard Biden fans and I just don't understand it and they're talking about the IRS bill that it's like we gotta tax the 1% But I'm telling them it's us It's us that their tax you know that you want to try garage sale or something like that Exactly Exactly Just discussing people are now more and more people have a mindset They deserve freebies And that it's only fair that they get freebies from people who make more money than they do Regardless of what those people are done to make more money Maybe they've come up with certain inventions that are crucial to life Or whatever it is and so what the Democrat party is all about again is Creating a situation where there's constant

IRS Mario Biden Florida Democrat Party
Pelosi: 'Yes,' IRS 'Tracking' of Bank Accounts Over $600 Still on Table as Opposition Grows

Mike Gallagher Podcast

01:53 min | Last month

Pelosi: 'Yes,' IRS 'Tracking' of Bank Accounts Over $600 Still on Table as Opposition Grows

"The idea would require banks credit unions and other providers of financial services to track and submit information to the IRS about the total inflows and outflows of every account that features a balance over $600 at any point during the year or with at least that much an annual transactions. Speaker Pelosi was asked about it this week. Yuri, let's play. Can we play the Nancy Pelosi clip? She was asked about this by a reporter and she seems very intent on making sure this is part of the Democrats reconciliation package. Listen to this day, listen to this David. In the build back better build that's been proposed is IRS cracking down on the banks are starting to get calls from customers and they're reporting these calls. They're concerned about its tracking of transactions that is greater than $600. So Americans are starting to be worried about this. Do you think that this paper of getting the IRS more money to check on an unpleasant taxes is going to stay in the reconciliation? Yes, what do you think? Yes. Yes. Yes. Yes. Well, I mean, with all due respect, the plural of anecdote is not data. I've said that before here. Yes, there are concerns that some people have. But if people are breaking the law and not paying their taxes, one way to track them is through the banking measure. I think 600. That's a negotiation that will go on as to what the amount is. But yes. That is very clear. This is going to happen as far as if they get their way. But David Williams, there's been a tremendous amount of pushback from customers from Americans from the lobbyist with the banks, maybe maybe this is something that doesn't soar through the way the Democrats hope it

Nancy Pelosi IRS Yuri David David Williams
Treasury Secretary Janet Yellen Is Building an Army of IRS Auditors

Mark Levin

01:45 min | Last month

Treasury Secretary Janet Yellen Is Building an Army of IRS Auditors

"Ladies and gentlemen they don't need 85,000 new auditors to get billionaires and millionaires There aren't enough billionaires and millionaires for $85,000 It aimed at you and I'll prove it to you again Because they want every transaction involving $600 to be monitored by the Internal Revenue Service That's not the case right now $600 Well you're not going to catch tax cheats with a $600 transaction This is just a way to get the foot in the door so they can spy on you and threaten you That's what we're talking about So here's Janet Yellen on CBS evening news last evening And she's asked about this by Nora O'Donnell Let's go to cut 8 Go You want banks to report transactions of $600 or more That's what the IRS wants Does this mean that the government is trying to peak into our pocketbooks If you want to look at $600 transactions Absolutely not I think this proposal has been seriously mischaracterized The proposal involves no reporting of individual transactions of any individual Look yes it does What are you talking about Yes it does A $600 transaction They want to be able to Monitor it And the banks have to report it What is she talking about These people on this administrator they lie worse than your typical American Marxist

Janet Yellen IRS Nora O'donnell CBS Government
Mark Levin Destroys FBI, National School Boards Association on Hannity

Mark Levin

02:01 min | 2 months ago

Mark Levin Destroys FBI, National School Boards Association on Hannity

"I said last night on Hannity respecting this move by the attorney general in his memo go You know Sean I served as chief of staff to an attorney general It means during the Reagan administration for some period of time it never would have crossed our minds to do anything like this The Biden Justice Department is made up of Obama retreads The same Obama administration that unleashed the IRS against the Tea Party in my recall These people do not believe in civil liberties at all They do not believe in competition of ideas or competition period With Merrick Garland is done here as he's trying to create out of the FBI some kind of East German Stasi That's what he's doing Spying on parents gathering intelligence on parents tracking parents a special phone number that they use to report domestic terrorists So a teacher who is offended or school board member who's offended or staffer who's offended can report a parent to their government And the pretext here is some kind of widespread violence There's no pattern or widespread violence That pathetic letter written by the left wing national school board association They don't even provide a list of crimes that they think are committed moreover The federal government has absolutely no authority whatsoever to even go into a school board meeting let alone a classroom These are state and local matters fully local police can handle any violence And I would remind everybody that the FBI did damn little when our cities were burning when Black Lives Matter and antifa were brutalizing people were committing acts of larceny were attacking our police The FBI needs to get its act straight So this is a pretext about widespread violence to intimidate threaten and suppress communities and neighborhoods all over the country to comply with the left wing radical marks of the critical race theory gender ism and anything else It's a cabal of the thug teacher unions these educational bureaucrats these Marxist school contractors and the Democrat party and the Biden

Biden Justice Department Obama Administration Merrick Garland Reagan Administration Hannity FBI National School Board Associat Sean Tea Party IRS Barack Obama Federal Government Democrat Party Biden
Biden's Bill Will Empower the IRS to Track Your Every Transaction

Mark Levin

01:30 min | 2 months ago

Biden's Bill Will Empower the IRS to Track Your Every Transaction

"One One of the core aspects of this bill Biden and the Democrats are pushing Is to massively increase the power of the Internal Revenue Service Now for people who don't pay taxes and are on the doll that's not a big deal But for people who do it is a big deal Because it's intended to again Bully threaten intimidate law abiding American citizens who are actually pay the freight in this country While people on the dog get to watch and laugh John barrasso at a press conference today cut 6 go The Republican Party is not going to allow the IRS to spy on your banking accounts On this single topic alone I've gotten more emails and calls in the last three weeks than I have on any other item over the last of the times I've been in the United States Now what is he talking about Well we've talked about now for weeks and I've done it on television as well And that is this Biden is proposing that any Movement of money that is $600 or more can be monitored by the Internal Revenue Service They can try and figure out what it's for Whether it's coming into your account or going out of your account and not just your account it could be PayPal or Venmo or whatever it is That the Internal Revenue Service would be empowered to trace that And to monitor that

Bill Biden Internal Revenue Service John Barrasso Republican Party Biden United States Venmo Paypal
Nebraska Will Oppose IRS Snooping in Biden's $3.5T Spending Plan

The Charlie Kirk Show

01:55 min | 2 months ago

Nebraska Will Oppose IRS Snooping in Biden's $3.5T Spending Plan

"A lot of people are looking for a roadmap. How do we move forward. While the nebraska treasurer it becomes the first state. Says they refuse to comply with biden's plan to let the irs view your bank transactions nebraska says nebraska state treasurer. John miranda said they will not comply if the administration sues. He will take it all the way up to the supreme court i'm reading from the gateway pundit dot com as a state treasurer i have an obligation to safeguard personal information of hundreds of thousands of these accounts. And it's absolutely wrong to ask american citizens who have an accuser wrong during the turn of their wrongdoing to turn over the private bank information the federal government. There's no excuse for it. He says moronta. The state treasurer. Says i t i don't typically engage in legislation. That's going through congress but on an issue like this is something that myself and many of my colleagues across the country believe we have to stand up and fight. And i would say this. Even if the supreme court says it's constitutional don't comply seattle san francisco portland los angeles chicago new york philadelphia. They did not comply with federal immigration law. Because they didn't like it with all of a sudden the biden regime is going to say. Yeah we wanna see your bank account information. The state attorney generals and treasure should say no. That's not how this works. And i wanna just praise nebraska for saying the sell out saying that they are going to have a noncompliance agenda when biden decides to completely and totally overreach and go in a direction that we have never gone before in our country that they can see your most intimate banking information your transactions as you make them for what reason exactly because they want to monitor you and of course they'll target conservatives more than liberals obviously they'll target republicans more than democrats especially republican donors and people that are making a difference obviously

Nebraska John Miranda Biden Moronta Supreme Court IRS Federal Government Congress Portland Seattle Philadelphia San Francisco Los Angeles Chicago New York
Democrats Want to Run Deficits Approaching World War II Levels

The Charlie Kirk Show

00:48 sec | 2 months ago

Democrats Want to Run Deficits Approaching World War II Levels

"Democrats are currently so distracted by this reconciliation. Bill that the bipartisan infrastructure. Package the con job that too. Many republicans voted for the green energy. Con job that made pete. Buddha judge the infrastructure czar which isn't passed yet thankfully. They are all tied to joe biden. And they are now putting mitch mcconnell in the driver's seat i have to say mitch mcconnell's handling this very well mitch. Mcconnell is holding the line and he is refusing to give the democrats what they want so the democrats are proposing to ram through this massive budget as they will continue to run deficits approaching world war two levels four five six trillion dollars of annual deficits.

Mitch Mcconnell Joe Biden Pete Bill Mcconnell Mitch
Russell Brand Calls 'Russiagate' a 'Democratic Conspiracy'

The Charlie Kirk Show

02:36 min | 2 months ago

Russell Brand Calls 'Russiagate' a 'Democratic Conspiracy'

"How are we supposed to interpret celebrities coming out who were once on the radical left and now are saying things that were and are very obvious russell brand who is a comedian. He's pretty fair on most things. He's all over the place. No trump fan though at all he has now come out and he has criticized russia gate. Now i'm saying this for a reason because we have a new episode out with cash patel that i encourage all of you to listen to but if you wanna listen to in my opinion. The best analysis of the origins of the russian investigation of peter struck of lisa page of where the all came from. And where we are headed. I'm telling you cash patel who is being targeted by every major institution on the left that you can imagine key breaks down how john durham is building a criminal conspiracy case against the deep state. It was compelling. It was detailed. I pushed him on a lot of different things. And that's exclusively on the charlie kirk show. Podcast app of cash patel. It's one of my favorite episodes. We've done in recent times and it's all around this topic of who is going to be held accountable for what was done back in two thousand sixteen two thousand seventeen timeframe with peter struck and lisa page spying on a presidential campaign and hoping to get away with russ or russell brand now says well. This is all from the clinton campaign russell. The great sean. Hannity has been saying this on his program for literally the last four years but better late than never. I suppose. Play cut fifty six. We'll move so fast. It's almost no time for history. It seems like years ago that we would hear. In the trump was colluding with russia. They would've won the election without russia that he's whole presidency was kind of employees. Well there's now serious evidence that it was the clinton campaign and hillary clinton acolytes lueth directly involved in the generation of has proven to be a conspiracy untrue. Think about how much media watched me a person who i think broadly speaking. He's from the left. A liberal certainly not trump support in republican with respect to those of you that are i find myself in awe gobsmacked flabbergasted in startled by these revelations. The russia gate was a democrat conspiracy.

Russell Brand Patel John Durham Charlie Kirk Russia Peter Struck Lisa Page Lisa Peter Clinton Hannity Russ Lueth Russell Sean Hillary Clinton
How Joe Biden Is 'Flushing out the Pheasants' in the U.S. Military

The Charlie Kirk Show

01:46 min | 2 months ago

How Joe Biden Is 'Flushing out the Pheasants' in the U.S. Military

"A pheasant. Hunter not a professional pheasant hunter. But i do enjoy pheasant hunting. I was actually pheasant hunting in south dakota last week. My goodness just feels a lot longer than that. And when i was in south dakota pheasant. Hunting and anyone who pheasant hunts knows this. There's a strategy called flushing where us dogs. I grew up with a german short haired pointer and you would send the dogs out in the fields and they'll work the fields they'll find the pheasant and they will provoke the pheasant to then leave the field fly in the air and then bang. You have a chance to shoot. The pheasant flushing out requires not just the identification but the provoking of the pheasant out of the field and up into the air. Now for those of you that know that shot pheasants you then call hens and roosters there some farms where if it flies at dies but hopefully you're not shooting hands and if it's a rooster hopefully you will shoot. Pheasant actually tastes pretty good in a soup but the strategy of flushing. Is this idea that you need to not just find the pheasant. You need to provoke it. Identify it spotted and then bang. You could take it out this very same strategy of flushing out. The pheasants is happening. Metaphorically of course in how joe biden is handling the federal vaccine mandate in the military. Joe biden wants to have people that are conservative. Strong willed independent thinkers identify and get flushed out of the military as if we were shooting pheasants in the field in central south or north dakota to be able to take them out

South Dakota Hunter Joe Biden North Dakota
"irs" Discussed on Radical Personal Finance

Radical Personal Finance

03:17 min | 2 months ago

"irs" Discussed on Radical Personal Finance

"Paid voluntarily and timely by tax payers under such code for such tax year and then number three racial disparities analysis a comprehensive analysis and description of whether there exists any racial disparities in the internal revenue services enforcement activities including audits based on gross income including a comprehensive description of any plans. The internal revenue service has to address any such disparities in the coming fiscal year. So there we have increasing racial analysis by the by the irs. Now that's what you need to know. Perhaps it was a little bit longer than intended but sometimes when i read news stories. I don't know what's actually true. And so i always say okay. Well let me go and find out what the actual text of the proposal says and do my best to get an accurate understanding of what is actually being proposed. What is hyperbole. what is not what is spin. What is not. I do my best and so i try to share with you the details. Let's talk now about what happens with this legislation generally speaking. I believe that this is the future. I personally persuaded that more. Transparency more snooping more reporting is the future. I don't see any reason why that will change now. The let me explain how i get there so you can see whether or not you agree with me. I don't know whether this particular bill will become law or not. It probably doesn't matter one way or the other. If this particular bill becomes law or this particular bill does not become law. That won't change the general direction of the law. The general direction of the law is were going to require more reporting. We're going to require more disclosure and we're going to require more snooping by financial institutions and. This is a confluence of many different factors. What are the number one. More and more individuals have made choices of their own volition to move their activities their financial activities from things that are easily kept anonymous to things that are easily tracked for example the vast majority of us do virtually all of our financial transactions using credit cards and debit cards credit cards and debit cards automatically. Track everything that we do and they create a paper trail all along the way. We didn't do it because we were forced to do it. We did it voluntarily. We did that. We made that change. We stopped using cash because of the convenience. We were persuaded that it was far more convenient for us to swipe our american.

irs
"irs" Discussed on Radical Personal Finance

Radical Personal Finance

03:34 min | 2 months ago

"irs" Discussed on Radical Personal Finance

"This information will help improve audit selection so it can better target. It's enforcement activity on the most suspect. Evaders avoiding unnecessary and costly audits of ordinary taxpayers. The treasury department said in a statement wednesday. The biden plan which includes new spending on childcare education and paid leave relies on seven hundred billion dollars in revenue. The administration says would come from a significant expansion of the internal revenue service. The information reporting expansion of the plan combined with some other efforts would yield about four hundred and sixty billion dollars of the seven hundred billion dollars in additional tax collection under the biden. Irs changes the people said the plan would largely affect the bank accounts of business owners placing financial institutions at the center of an effort to curb unreported or misreported business income the irs estimates that up to fifty five percent of business income is unreported or misreported shocking. That the irs would estimate such a thing. Now let's go and additionally by way of background that's enough news stories. Let's go and read a little bit of text. I i want to begin with the official factsheet published at whitehouse dot gov on april twenty eight twenty twenty one about the american families plan and then we will go to the texted. The bill submitted by senator warren overall in the american families plan Today president biden announced. The american families plan an investment in our kids. Our families and our economic future and the basic ideas are to expand government schools at at least four years of free education and so they want to expand government schooling basically in short they want to add two years of government schooling for prekindergarten for three and four year olds and then also add two years of government colleges for community college levels basically make community colleges tuition and then there is an a proposal for expanded child credits education preparation for teachers. Yada yada yada childcare credits. Yada yada yada yada nutrition blah blah blah. Okay now how do we pay fort. This is the appropriate section here tax reform that rewards work not wealth. The president's tax agenda will not only reverse can reading from the government documents here. The president's tax agenda will not only reverse the biggest two thousand seventeen tax law giveaways but reform the tax code so that the wealthy have to by the same rules as everyone else it will ensure that high income americans pay the tax they owe under the law ending. The unfair system enforce unfair system of enforcement that collects almost all taxes due on wages while regularly collecting a smaller share of business and capital income. The plan will also eliminate long standing loopholes including lower taxes on capital gains and dividends for the wealthy that reward wealth over work importantly these reforms will also rain in the ways that the tax code widens racial disparities in income and wealth..

biden irs senator warren treasury department whitehouse fort
Renaissance Hedge Fund Execs to Pay $7B in IRS Settlement

Wall Street Breakfast

00:34 sec | 3 months ago

Renaissance Hedge Fund Execs to Pay $7B in IRS Settlement

"Simon's and robert mercer along with current and former executives of hedge fund. Renaissance technologies will personally pay as much as seven billion dollars in back taxes interest and penalties to settle a long-running dispute with the internal revenue service a tax settlement. That may be the largest in history simon's who started renaissance before retiring as the firm's chairman. On january i will make an additional quote settlement payment of six hundred seventy dollars according to the firm. Mr simon's will also pay back. Taxes related to his

Robert Mercer Renaissance Technologies Simon Internal Revenue Service Mr Simon
Apple Settles Class Action Lawsuit With App Developers

The Vergecast

01:31 min | 3 months ago

Apple Settles Class Action Lawsuit With App Developers

"Apple settled a hundred million dollar lawsuit time. Can you walk through. What was this lawsuit. And what was the settlement so apple there is a class action lawsuit from a variety of developers Who said that. The app store was monopoly. That apple was you know being unfair. It was an improper monopolization to the market. It was filed in twenty nineteen and apple is settled that wall street this week with one hundred million dollars settlement that includes clarifying. Some of its policy is about some rules on irs. They're making one hundred. Million dollar fund develop burs thirty million dollars of which is going to be used to pay lawyers. And if you're a smaller iowa's developer you'll you'll probably get some money out of this. They're also going to do things like not change. How app store works for minimum of. I think three years and they're going to keep the small business. The app store small business program which says that if you earn less than one million dollars a year you can apply to get fifteen percent cut your sales instead of thirty percent so that will stay unchanged for the next three years also in its current form which is if you make less than a million and you could do that the day that you go over and you know you make a million dollars once again. Subject to the thirty million a thirty percent cut so that's not changing in either direction And there will be more price points for apps so instead of selling app for like a dollar you'll be able to in theory sal for like a dollar fifty or a dollar eighty. There's like more than five hundred points coming right now. There's one hundred. So

Apple App Store IRS Iowa
"irs" Discussed on SML Planning Minute

SML Planning Minute

07:51 min | 3 months ago

"irs" Discussed on SML Planning Minute

"Welcome to security mutual life insurance company of new. York's snl planning minute where we share concise and proper woking financial ideas for individuals families and business owners security mutual the company. That cares. hello. This is bill. Rinaldi with another addition of security mutuals. Snl planning minute in today's episode. The irs announces its so called dirty dozen tax scams for twenty twenty one the internal revenue service recently announced its dirty dozen tax scams. Twenty twenty one with the twist this year. The biggest emphasis is on an increase in pandemic related scams like the theft of economic impact payments. Aside from that there are three other general categories of scam this year number one personal information scams which include phishing ransomware and what is known as phone fishing with a v. number two bake charities and senior or immigrant fraud and number three schemes persuade taxpayers into unscrupulous actions. So here is the complete list number one. Economic impact payments. The irs has observed an increase in the number of attempts to steal direct payments. Made his part of pandemic relief. They've advise people to be wary of unexpected phone calls text messages and emails. As maybe expected the irs advises us to ignore random phone calls and delete any suspicious text messages or emails particularly those enquiring about bank accounts or requesting to verify data. They also urged people not to respond to or open any such correspondence number. Two fraudulent unemployment claims. There has been an increase in scammers. Who use stolen information to apply for fake unemployment benefits. The irs says that you could end up receiving a form ten ninety nine g for unemployment payments that you never asked for and then receive number three tax related phishing scams. Fishing is a common scam where someone uses fake emails and fake websites to try and get personal information from you. The emails are made to look as legitimate as possible and are often used. As a way to collect financial account information the information is then used to collect benefits in your name for the benefit of a scammer number four social media scams tricksters have become an adept at using social media scams to facilitate tax related identity theft. Social media. accounts are a way for them to get access to your friends and family. They then use these connections to link to things like fake charity's number five impersonator phone calls slash vichy fishing by phone. That is by. Voice is known as fishing more often than not these calls threatened the victim with arrest deportation or license revocation unless victim pays what is in fact a fake bill such as a tax bill number six ransomware ransomware has been in the news a lot lately and with good reason. But it's not just a concern for multi-billion dollar corporations. With enough access criminals can find weaknesses to infect a person's computer then demand payment to free up the systems and get you back up and running number seven fake charities natural disasters bring out the best in some people and the worst in others scammers know how to explain generous people through the use of fake charities. A fake charity can be used to steal from people who are only trying to help and the irs reports that there has been an uptick in fake cove nineteen charities this year number eight immigration slash senior fraud elder abuse takes many forms and scammers often look at senior citizens as relatively easy prey. Thus senior citizens tend to get targeted more often criminals also like to target people with limited english proficiency number nine quote offer in compromise mills. Compromise mills are organizations that will work with a tax payer to settle a tax debt. Generally in the right circumstances they can arrange the payoff attacks dead at a reduced amount but some of these organizations charge high fees to people who may not qualify for compromise from the irs. Note that the irs has an online calculator to see whether someone might qualify for a negotiated compromise number ten unscrupulous tax. Return preparers according to the irs. Well a pay. Tax return. preparer is primarily responsible for the overall substantive accuracy of your return and by law is required to sign the return and include their preparer tax identification number or p. t. i n. on it so called ghost prepares our people who charge fees but avoid any responsibility by not signing the return number eleven unemployment insurance fraud. Unemployment insurance is the source for two of the twelve common scams in this case the concern is individuals who act in coordination with or against employers and financial institutions to get unemployment assistance to which they are not entitled. An example of this would be a situation where an individual returns to work but fails to report the income with the hope of continuing to receive unemployment benefits number twelve promoted abusive arrangements. The irs has recently seen uptick in what are called quote abusive arrangements. This is where a promoter sometimes referred to as a syndicator sets up tax shelters that are in fact fraudulent. These arrangements can take many forms including charitable gifts of what are known as conservation easement misuse of business tax credits and abusive captive insurance arrangements. The irs ends its discussion of this list. With some advice multi factor. Authentication is a good way. To protect online accounts. One example of how multi factor authentication works is to require a security code sent to a mobile phone in addition to the username and password. This in theory should make it more difficult for a scammer to steal your information. This podcast is designed to provide general information regarding the subject matter covered and is believed to be current as of the data publication. It is not intended to serve as legal tax or other financial advice related to individual situations because each person's legal tax and financial situation is different security mutual and its agents may not give legal or tax advice. This information is not approved endorsed or authorized by the irs. Reliance on the information should be undertaken only after an independent review of its accuracy and where applicable in consultation with your tax legal or other professional advisors regarding.

irs Rinaldi York Reliance
"irs" Discussed on GovExec Daily

GovExec Daily

05:07 min | 4 months ago

"irs" Discussed on GovExec Daily

"To where it's going to need to be not where it used to be. Yeah we'd certainly noted that the staff decline has been over a period of years. So the idea that it could be a fixed super quickly. i think might be Even in the best of circumstances really difficult but the civil service system certainly is a huge huge part of that Fixing this issue fixing the workforce you know modernizing it. What is the pushback here. Is it political. What are the roadblocks getting us to a more effective in a fuller. Irs workforce while. I think there are two one is political and I'm up professional civil servants. I'm going to try to stay away from that as much as i can. But it's almost unavoidable because there are lots of people who don't want the irs to get more efficient. It's one thing to pass a tax law. In congress passes all the tax laws the irs does not it but it's one thing for congress to pass a tax lots another thing to give an agency the resources it needs to enforce it to do the audits to do the collections to do all of the things that get people to pay their taxes hopefully voluntarily but if not to require them to do so so there's there's a political angle to this that i think is an unavoidable but there is. There are a lot of people who say okay. The irs needs to modernize needs to get better both in terms of numbers and skills and in terms of technology. But we can do that. Administrative we can do it under the current system. Don't require an act of congress because again an act of congress gets political. So let's try to do it administratively. I have to tell you to me that sort of a fifty five forty five percent. But i come down on the side of legislation because there are just as we discussed so many impediments doing an administratively. Here's here to lots of people say give. Irs direct higher authority.

irs congress Irs
"irs" Discussed on GovExec Daily

GovExec Daily

02:04 min | 4 months ago

"irs" Discussed on GovExec Daily

"The same problem right. The civil service system has not been wholly modernized in twenty years. Yes it's There have been incremental changes to it improvements to it exceptions to it A couple that we talk about in the article that commissioner resulting and i wrote but at the end of the day we are dealing with an old system. Now lots of people will take exception to that including like good friend. Tony rear news president of the national treasury employees union. Who will say you can do anything you need to do. Under that system. And i'll concede that point. You can get what you need done under that old system. But i have to tell you it is so slow and so painful and so convoluted and so complex And i'm happy to give you a few examples but You tear your hair out so Suffice it to say if the ideas to staff the irs up they help close the tax gap using existing rules. Even the most flexible of those rules is gonna take time. It's going to be complicated. It's gonna take lots of mother. May i with oh. Pm and at the end of the day. I'm not sure we're going to be better off. So i go whole hog here. And as as charles. Roddy and i recommend give. Irs the same legislative. Fix that you've given the banking regulators. We did that ten years ago during the financial crisis. Let them run with it and hopefully that will. There's still going to take time. Ross is there is no easy overnight fix but it's gonna take time anyway and why not start with a clean slate so that you can hire quickly pay accordingly opa employees accountable and get the irs to where it's going to need to be not where it used to be. Yeah we'd certainly noted that the staff decline has been over a period of years. So the idea that it could be a fixed.

"irs" Discussed on GovExec Daily

GovExec Daily

01:34 min | 4 months ago

"irs" Discussed on GovExec Daily

"And so take revenue officer or revenue agent. and how they do audits. Just think about how powerful audits could be if you were able to apply data science tools and modern technology to that and to be sure. Iris has always done some of that. But not nearly enough. Or what if outreach through its customer service representatives took full advantage of social media and all of the other platforms available to communicate with taxpayers. I mean after all the irs is lifeblood is voluntary compliance with the tax code and ninety percent poss- of us citizens want to pay the taxes that they owe they. Just don't understand the internal revenue code. So you need to take a something old and something new and combine them so that it's not just hiring thousands of people to do it. Irs used to do. It's hiring thousands of people to do what. Irs needs to be able to do this year next year five years into the future the hiring and training in modernizing all that stuff needs to work within the civil service system. What are the impediments ord rebuilding irs workforce within the civil service system. While it's the same problem right. The civil service system has not been wholly modernized.

irs Iris us
"irs" Discussed on Sway

Sway

05:03 min | 6 months ago

"irs" Discussed on Sway

"Facebook apple all these companies. Yeah exactly so pro. Public is publishing these findings during the by demonstrations we noted which is pushing for this global corporate tax. The closing loopholes greater auditing wealthy. Americans do you think there will be a shift in taxes on the wealthy Let me just point out with president biden was doing. He's mostly focused on raising the top marginal income tax rate thirty seven percent whereas dow at thirty nine point six percent which is basically him to me using a flyswatter to kill a bear right. So the stonning thing. Is that the people who really pay taxes. The people who have got actual bite from texas make about a million to five million and then the system starts to become regressive set of progressive. It's a system on its head where the wealthy you're you are the less you pay in taxes and that's just effective tax rates. That's not even talking about the wealth growth rates. Do you think outrage and this reporting and the idea that these are not the solutions will come to force. And what do you think the solution is. I don't know what the solution is. I don't advocate for a solution. I think that our contribution is to put facts into the public sphere I'm not optimistic about Being able effectively raise taxes. On the rich. I think that there is a pendulum. Swing where the administration has all these spending ambitions that rival fdr bj and so the pendulum may be swinging. Although the the issue is the billionaires have an extraordinary amount of power and don't want to pay more taxes you know what. I say to them all the time. You're either going to have to deal with this or you're gonna have to armor plate your tesla's so that's my. That's my argument to them anyway. The vitamin station is also investigate on all series z. The leak of these tax documents the commissioner charles reading told lawmakers a potential prosecution swallow treasury spokesperson lily. Adam said quote the unauthorized disclosure of confidential government. Information has a legal. So are you afraid of this. Because you know these are Unauthorized disclosure of confidential information. Meaning am i afraid for what of rape of the source or sources are afraid for might so i'll for the sources and for propublica I think it would be pretty astonishing. If the biden administration were to investigate propublica I'm not interested in being investigated. I am afraid of that but We did go in with their eyes. Open thinking that this was something of a risk but i thought that our obligation to society overrode that small amount of risk that we are taking. What did your lawyer say. Your biggest risk is As i understand it there is a law that Strictly construed could read a publishing information about taxes as breaking the law. And i think we have good case that this was in the public interest but we. It's possible that the judge might not see it that way. But i don't think that's going to happen. I think we are highly. I i just i a hard time imagining. That will be That the vitamin station will really press Either charges against us Or probably pursue who how they pursue. Yeah the probably pursue the leaker leakers and Whether we will be involved in you know brought into that investigation named vitamin station is gonna ask. Maybe the biden ministration just came out with new policies. You know the trump administration did a lot of searching of journalists We consider that to be journalists. Consider that to be a violation of the first amendment and a chilling to sources. We would be very upset if the biden administration started to kind of rope us into their investigation and we would Bloody helath okay. Thank you so much jesse for coming on and talking about this really Everyone.

Adam Facebook thirty seven percent jesse five million texas apple thirty nine point about a million dow charles reading biden administration first amendment president biden propublica six percent trump vitamin Americans
"irs" Discussed on Sway

Sway

01:34 min | 6 months ago

"irs" Discussed on Sway

"Amusing and would so he had half a billion dollars over five hundred million dollars of income at defined by the irs. In two thousand sixteen instead seventeen and he wipes it all out through interest expense and it's perfectly legal otherwise except it's a remarkable thing that he borrows his assets to create leverage. So that he can supercharge has returns. And then we are subsidising his borrowing in reducing his borrowing costs for that so that he can write it off on taxes. I mean that's just something people should understand. Yeah as donald trump would say that's brilliant and one of the billionaires. told you. Violation.

"irs" Discussed on Sway

Sway

08:08 min | 6 months ago

"irs" Discussed on Sway

"Murdoch larry page. We have all their information And we have many more. We have thousands of people. We may report on some of these people. What we wanted to do was illustrate this in a very careful. Way with some specific examples We're going to be doing stories all year on various aspects of it and will name many many more people but only in what we consider to be responsible ways that are in the public interest. Okay all right so more possibly to come. But let's talk about two sources of data here for calculation of wealth grows you noted you're using estimates from forbes the income tax payments paid by the wealthiest americans. You're using irs documents that you obtained and received anonymously correct correct. And you don't know where they came from. We're we're really not commenting on that or discussing that in any detail nine. We're going to be very careful Well we want to protect the source and sources but We don't know an enormous amount And we're not going to explain what we do know. The most important thing about this is that this information has been verified in countless ways. I don't wanna bust your chops to hear about some of the stuff. People have an issue because apparently it's illegal to take this information from the ours is not illegal for you to have it. Yeah bussed away we we talk about journalistic standards. Yeah i'd love to. I'd love to. Because i think people should understand who are questioning the way. They're attacking the story. Is they got hot information. Essentially as if a pawn shop or something like that. What kind of corroboration have you done to feel confident in these numbers. Sure so accuracy in corroboration that these facts were of paramount importance to us so the first thing we did was go through an enormous amount of public material to see whether the numbers matched up and we were very paranoid and we thought you know somebody could have assembled data millions of lines data way. One of the things was that. Pass the smell test from minute one. It had information that really only Select entities might have. But you know that's not enough for us as the smell test but so we then went to private sources. Only those private entities would know and ran selective pieces of information by them and that also was verified and in the end we pretty easily surmounted information on fifty individuals and by that point we had a high level competence but that was not enough so then we assembled the information on. Jeff bezos elon. Musk and michael. Bloomberg and carl icahn. We presented that to as many people who would accept it and gave them the information and said we're going to publish this What you have to say about it. and no one disputed the veracity of the numbers and no one since we published as disputed. That numbers either yet is out in your article. Contemplative scenario where the source was a state actor that might be hostile to american interests. And the quote that you have here is two things we have long held at. These motives are irrelevant. The information is reliable which you just said. And the editors also said in your note. Providence is not essential accuracy which is essentially. You said the same thing twice so talk about this issue of what if the sources nefarious. Because in this case it's not misinformation as correct information possibly stolen information surely answer specifically in. Generally the first specific thing to say is that we don't know the provenance but the inspector general for the irs came out Many months ago and said that the solar winds hack which was a russian providence hack of huge amount government data. You probably know much more about it than i do. that they didn't access irs materials. I just want allegedly right. That's what they say. Yeah so let me go to general comment that go back to a specific comment. Generally we do not care about the providence of information when i in my reporting career i've been a reporter now for almost thirty years. God love me. I have always put it through the prism of whether it is true. And whether it is newsworthy. And i've been in business journalism and so it's been very clear to me from the beginning that everybody who talks to me is biased and has an agenda. No one talks to me. Because i'm charming handsome. I wish it were the case But no they're trying to move markets and move their position and convince me of their Of their position to make money. You're essentially saying everybody has an agenda. Yeah but just because you're bias doesn't mean raw and here. I think that no one can accuse us of being responsible stewards of this enormously. Valuable and precious and sensitive material and we published. I think we published six names right. Although one can compare speaking of. Jeff bezos national inquire the sex that he did were accurate he did write those very awkward sex. They got them apparently through the brother but nonetheless they publish them and you could make that argument. They're accurate but is that correct. Well then you come to the newsworthy side of the equation. And i like to think that. What the wealthiest person in the country contributes to american society through a tax system that we all need to contribute to is a little bit more newsworthy than a crotch shot. I that's just. Maybe that's me. Yeah but i think that this crosses the public interest threshold and it's not just me. I don't make decisions on my own. We have a careful Venting system at propublica. I'm working with two brilliant colleagues. Paul kill and jefferson's thousand and then of course we have editors and then we all it goes up and we have lawyers. We all made a determination that this serve the public interest. And i would be very shocked to have someone to make an argument aside from maybe the wall street journal editorial page that there isn't a public interest in understanding that the wealthy are outside of the taxes that they pay zero in taxes that they have legal mechanisms. I wanna emphasize this is all legal. We're not making any accusation in this story of illegal behavior. This is this system that we have. And i think we have a notion in this country. We certainly have an ideal in this country that everybody pays their fair share. And that's kind of founding myth of the united states. And what we wanted to say. It's as mythical as george washington cutting down the cherry tree. It doesn't exist and let's step back. What are the consequences of not paying taxes. Well roads and bridges are crumbling and philanthropy. Doesn't fix bridges. There are collective problems that government and only government can solve and government needs to be funded. Okay so i would. Just go with some of the responses elon. Musk sent you a question. Mark which seems about right for him. I often question that was. That was a shockingly character and then nothing else often curses next just so you now to the curses coming next. So you haven't heard back from at all nothing else nope nope. No one of my favorite response was carl. Icahn who i've dealt with. He won't he sort of stumbled and wobble detect for a short time period. Then your team's interview with him. The billionaire basically group rich people poor people and apple altogether saying quote. You have no income. You don't pay taxes. They seem confused by the suggestion that a rich person to pay taxes. No matter what can you tell me anything else about these conversations. Carl was great is incredibly charming and was totally perplexed by the concept of needing to pay taxes so essentially what channels you texas. He was very kind of.

carl icahn Jeff michael Carl Icahn Mark carl george washington apple Jeff bezos fifty individuals Musk thousands six names two sources first jefferson twice texas two things
"irs" Discussed on GovExec Daily

GovExec Daily

02:35 min | 6 months ago

"irs" Discussed on GovExec Daily

"Go through all these hurdles ready Counters that point by saying no. No no we're focusing on a high income high wealth individuals huge corporations Various tax setups like pass throughs and other entities that are in need to the. Irs is view of of increased scrutiny. They wouldn't they wouldn't target low income people or or Small businesses so they claim and a yeah finally There was a sort of well. I guess to to related points. One is you can't spend this money efficiently so we can't give it to you all at once or or at all and then the mentioned rob portman brought up. How can you even bring on this many employees Hiring new federal government is slow training people slow Into to that point of the commissioner said we've been planning for this for months we you know sort of anticipating that problem in that question. They took the liberty of of pretending like they were going to get this funding with very much unknown There's there they said they have spent months have developing work Workforce plans on boarding plans training plans so that they can really hit the ground running and part of that is going to target not just sort of young people fresh out of school but also mid career people in and senior career people Who might come over from the private sector or or else in government who know how to manage people who know how to confront. Irs or civic problems. He talked about bringing new people who might be able to tackle new issues. Like crypto currency in non filers people who have sort of virtual currency in. Don't pay their fair share of taxes on that So you know. They're confident that they can spend this money. They can do so effectively and that they will be held accountable to Delivering on what. They're saying that they can do. These are all priorities that have been laid out sort of in the budget and through the irs. Certainly ready is sort of Owing.

"irs" Discussed on Clark Howard Show

Clark Howard Show

03:38 min | 1 year ago

"irs" Discussed on Clark Howard Show

"So this is a mess. New report about the irs poured it on by the motley fool that the irs still has over a million tax returns for various reasons could not be filed electronically and had to be filed by paper that they still haven't even gotten to open yet people that were do refunds or waiting for those refunds. And you may remember. We had the problem that we talked about on our show <hes>. Back in late summer where people were getting. Notices for non-payment of tax bills with penalties and interest and the letters are very <hes>. For computer generated letter pretty unfriendly and the irs. Finally stop sending out those notices because the problem was that point. Just general male bay had somewhere round twelve million pieces of mail. They had not opened the. Irs is dealing with a massive shortage of employees and then on top of it has the second problem of so many workers working remotely. There's been no one to open mail the motley fool estimates. There's still three million letters that have been sent to the irs. In addition to tax returns that has not been opened. So if you had an issue with the irs where you are sending money and you send them money and they never have acknowledged receipt that check you sent his never cleared. This is what's going on and so when you send money to the irs. I'm going to recommend until this backlog has worked off before the <hes>. Chaos that exists right now in the irs. Before it's over. I'm going to recommend that you spend a little extra money when you send an item to the irs. You can send it and away known as certificate of mailing. I don't need to censor defied mail or anything like that. But if you send certificate of mailing it is an item of proof stamp by the post office. The you have actually sent a communication of the irs and it doesn't matter that they have not opened. It will be an item proof that you did the part you were supposed to do and sent that to the irs. The other thing you can do is if you have a need to pay not a desire but a need to pay the irs money you can set up an electronic account with the irs where you have an electronic account where you pay them much like you'd pay an electronic bill pay you do that same thing with the irs. And then there's no issue that you didn't pay on time that the irs thinks that you are now attacks deadbeat you electron ecclesia paid and not only. Is there proof. Well i guess on the bad part they would have your money immediately and you wouldn't have your money anymore. I guess the one advantage to them not opening all these envelopes. Is you still have your money for an extended period of time.

irs Irs
"irs" Discussed on Squawk Pod

Squawk Pod

05:25 min | 1 year ago

"irs" Discussed on Squawk Pod

"You're planning in on trying to cash some of your casino. I should say some of your bitcoin and trying to pocket. The gains will be prepared for a potential tax it. If you've owned or used bitcoin you may owe taxes no matter how you acquired used it. Cbc senior personal finance correspondent. Sharon edison is here now with more on what you need to know. Sharon hi andrew. Will you know if you bought or sold. Bitcoin or any crypto currency this year. The irs wants to know about it. It now asked this white on the first page of your ten forty federal income tax. Return at any time during twenty twenty. Did you receive sell send exchange or otherwise acquire any financial interest in any virtual currency. And you have to answer yes or no now you need to check. Yes if you involved. In any transaction with the crypto currency including selling it receiving it transferring it for free exchanging it for goods or services or other property including another virtual currency and like stocks any gain or loss from the sale or exchange of crypto currency is taxed as a capital gain or loss. So it's very important to keep good records of your transactions now. You're gonna find out a lot more about bitcoin and your taxes at cbc dot com slash smart tax planning andrew. So couple of questions consequences if you don't check the right box on your taxes. Turn either you're dodging purposely. Or maybe just don't know well you need to know you mean to make sure that you understand how this works and working with tax professional is key here because if you've made a transaction and you do not check that yes box that tax experts that we've spoken to say that you could be accused of tax evasion by the irs. There could be criminal consequences so this is a very serious consideration that you have to make right there at the top of the ten forty four. You can't miss the question. But you must answer truthfully is because there could be significant consequences. If you don't sharon just real quick our places like coin base and other institutions are they reporting your gains and losses as well to match. I'm so glad you asked that because like a brokerage firm will report. You know what you've done with your stock transactions your other transactions. This does not happen. At many of the exchange this does not happen with crypto currency. Usually so it's very important for you to keep very good records on your own and to make sure that you understand how to keep those records having cpa and enrolled agent some tax professional who has worked with quipped crypto currencies. His work with tax payers. Who are dealing with. This is very important so ask that question as you pick the right professional work with his sharon. I get the idea of having report if you've bought or sold crypto currency. But the idea of if you've used it for any transaction could get really complicated especially as more and more vendors are accepting it as a as a form of payment if you let's say you rented an airbnb on something using it. Let's say you bought a cup of coffee somewhere you've got to report. Every of those transactions that can be incredibly complicated. It says it says any so i know that but of course it is difficult to keep all of those records and all of those documents the issue is that people want reporting anything and i think the irs has been really looking to crack down on this looking at the millions of people who own bitcoin right now own cryptocurrency and. How just several hundred. Some years over the past few years have been reporting every year. so they're missing a lot of people and they just wanna make sure. I think that they're getting the accurate numbers of who has who owns bitcoin. Who's using it and how reporting it sharing this just just thinking about all the ramifications because early adopters. They may be smart enough to have their own little wallet where they don't even use a coin base and that may part of the appeal of bitcoin. I think is that it's so anonymous. Some people and we've seen historically what it's been used for so it has that <hes>. You know the impression that that that it gives. But i would think anybody that buys on coin base or coin. Base is not going to be able to say. Oh no we're not going to provide anything coming. Base is going to have to generate if you answered. Do they generate like something to the irs. Right now about the people that they're dealing with or will they not a standard form life at ten ninety nine form. There's not a staredown. Four for crypto currency. So you may have a some institutions may have some type of form or paperwork that they deal with the irs. But there's no standard standard ten ninety nine like you get with the brokerage firm from what's coming telling. The market cap now is for bitcoin and for other cryptos that that's going to. That's that's gotta be near term for for the exchanges. I would think if you can't you know it's like a wild. Wild west only lasted for so long right exactly and that's again that's that's evidenced by the fact that it's not on the schedule anymore. It's not tucked away somewhere in tax documents where you have to report. This is right at the top on the first page of your ten forty form. So you're absolutely right. Things are definitely changing. Okay all right. Sharon thank you. I appreciate that thanks. People say that's why it was invented. We'll see when when the when the rubber meets the road. Whether everyone you know going to be it'd be interesting to watch <hes>. Better better hire more. Irs agents. I think

becky quick Ross sorkin andrew Kernan united states cdc cnbc hud becky kobe joe senate minority leader chuck s uk Nancy pelosi
"irs" Discussed on KSFO-AM

KSFO-AM

02:02 min | 1 year ago

"irs" Discussed on KSFO-AM

"Is still with us you might recall a question I had on the show a couple of weeks ago from a woman who said that she sent in her tax return but hasn't yet gotten her tax refund and she was fearful that her tax return got lost in the mail and I said to her no don't worry about it give the IRS some time because they've all been working from home well I was right the IRS is just announced this week that they have ten million pieces of mail that they have not yet opened five million unopened tax returns are waiting for the IRS at their offices the irises the running fourteen percent behind last year's pace of getting through all the paperwork in the mail the iris has eighty one thousand employees half of them have been working from home the mail was just accumulating at the office the iris is getting folks back to work at the office and therefore we're hopeful that this will get caught up so if you haven't gotten your tax refund yet I'm willing to bet it's because of that backlog give it another few weeks before you do anything about it and did you get your stimulus payment yet you know that twelve hundred Bucks per person twenty four hundred a couple did you get your check at five hundred dollars per child under seventeen well if you think you didn't get your check it might be because you threw it away yeah the IRS sent four million debit cards two Americans they're called economic impact payment cards the card has a visa logo on the front of it it says meta bank and AA on the back that's the bank that is processing all this those cards were mailed to you in a plain envelope with the heading money network card holder services and I'm willing to bet that if you've got it you were short it was a scam because you know the irises melt debit cards out right and who's the money network card holder services you probably thought it was either junk mail or spam guess what.

IRS
"irs" Discussed on KQED Radio

KQED Radio

03:27 min | 1 year ago

"irs" Discussed on KQED Radio

"In cash the IRS typically uses information from prior returns to verify identities says Jenna host plant of the urban Brookings tax policy center that kind of information often serves as a backstop as a way of sort of identifying people look for people without returns the Irish relies on much simpler information Brian Krebs editor of krebsonsecurity dot com was among the first to notice that fosters could steal these coronavirus payments with only a few pieces of identifying information I was a little shocked to see that there are a number of things that they requested the very few things that were required and the only thing that I could tell that were required well our name date of birth social security number address and then you had to have a phone number and that was pretty scary to me a longtime reporter on computer security Krebs says that this information is readily available for fraudsters urination people think is confidential and secret is available for sale on a significant portion of the US population in a number of places in in the underground and in many cases we're not even talking about the dark web we're talking about just out on the internet and and it's a couple Bucks it's about what it costs for you know caramel macchiato at Starbucks both holds plant and former IRS commissioner mark Iverson estimate that millions of Americans fall into this category millions of America's most vulnerable here host but again vulnerable in the sense that firm variety reasons their income is very low it is too soon to know for sure whether this kind of fraud is under way and that would scale Mike Chapple a professor of information technology at Notre Dame says it's a good bet that this kind of fraud is already happening he points to an incident in twenty fifteen with an iris system where people could obtain their previous tax return transcripts online that system was more secure because it asked for more information in order to verify identity there were three hundred and ninety thousand cases that the IRS inspector general found of fraudulent access to that system so no fast forward five years and we're using an even weaker system to control access not just information but the payments the IRS didn't address this specific vulnerability but told NPR that it is actively working on combating scam artists prioritizing investigations into those who prey on vulnerable taxpayers IRS criminal investigation chief don fort said in a statement that they are tracking the dark web following message boards and anticipating the schemes of criminals mark Iverson was the IRS commissioner between two thousand three and two thousand seven he says that the IRS is doing the best they can under trying circumstances you're always the trade off between speed and security a priority for the federal government is trying to get these direct payments out the door as quickly as possible which is going to lead to some vulnerabilities he said they're limited in terms of our technical strength which is then you're already in the contract and they have so many different things they're doing right now I miss what is still the filing season Iverson now with the line group which provides specialty tax services advises those who are seeking coronavirus direct payments and are not familiar with computers to find help from someone they trust.

IRS
"irs" Discussed on Defenders of Business Value

Defenders of Business Value

08:42 min | 1 year ago

"irs" Discussed on Defenders of Business Value

"And the problem you know. I shouldn't say the problem. I think the challenge that that business owners have is if the Irish shows up at my doorstep what happens and I know you you do a lot of that work of of advocating your for your clients position to the IRS. So what happens when we deploy your strategy? I get an a a knock on the door. That says we need to talk about this. What does that mean? And what should I do and when you talk about Hackney take the are either? You take action that you shouldn't worry you don't pay deduction the entitled to because you're scared that it's either. GonNa trigger an audit or you're taking action because she shouldn't let the fear at the IRS. Keep you from claiming legitimate deduction because when you do that. You're leaving money on the table but again part of the tax planning prophet. That's important having advisor. He's going to work with you. Identified the strategy that your visit navy and part of that process. They're going to work with you. Understand the requirement that way you understand you need to do to make sure that you can take action and you know buying tag printing actually protection in the event of an Audit Winnie. Know what you can and cannot do. He didn't find your activities that said the following the letter of the law and you're compliant and in that case you can leverage every deduction or credit C can pay the least amount attack now in that example of what she gave they enter the. Irs COMES KNOCKING National Guard. The first comment I make when you get that notice in the mail is don't panic. Don't panic but don't ignore that note and what I tell my clients when you get a notice. You're not responded to notice. I'm responding to this notice. He will. You want your tax advisor to handle this correspondent so much of what's happening to the IRS. Automated these days and you have a lot of data that's coming through and a lot of it's a matching. We reported this on your return in ten ninety nine matching up and some of these fairly simple but some are more complicated. So that's why it's important to have guidance with you as you're responding to be so when you do that. What are the red flags are the mistakes that you see? I know you said that There's a matching Aaron. I and believe it or not I on on our ten ninety nine I I have received that notice where the mistakes or what are the other areas that you see that the irs shows up at your door the ones that you're going to see one. We didn't report all your income. You know Either I had W. Twos and ten ninety nine and didn't include return those or you're GonNa get flagged for that and and the end of is that any kind of a matter of parental always report all your income always report all your income and I said that probably the largest organization of the deduction You know it sounds like there's a lot of I think. Incorrect information out there floating around like can take this deduction. I can take that deduction make sure that these arches urban myths that there's actually some legitimacy and that deduction that you're taking and And off the top of my head. I'm thinking of a couple that I I told that I could take and it piece implied in this kind of very basic example that I had a car. I haven't wrapped. Therefore it's a mobile advertisement and all of that that entire vehicles deductible crap. That is so funny. You're saying this I keep going because the showed up About thirty days ago keep going no an and that one where it's totally incorrect. Because what we're always looking at. What would the actual use of that vehicle? I need to be tried in either to a client location or it from an administrative office to a home. Office you know. It's the intent of that deductible mileage having a billboard on ninety ICAL down automatically make that extends deductible should those things out there or you know What has happened added a lot of the entertainment? Deduction were film avenue. Temperature slashed. So there's still that misunderstanding that okay. We'll advice show up somewhere in branded apparel at obeyed. Paul gained that makes it automatically deductible. No SO I. If we need to go back to one thing I do remind my client. There are still many great available deductions or out there. Don't waste your effort on the stupid ones that are gonNA get in trouble you know. What is it that expression in place to the game's going to apprising? It's one where just make sure everything you're doing better go and you will be fine but the right but I sat. There's so many opportunities for crated action to get into the grey areas. One of the things that and being a small business owner I bump into also. Is that come January. I'm now starting to scramble the to compile everything that that I need in order to do the taxes you know life gets in the way and certainly for small business owners. There's a lot going on. I mean you can't just take your foot off the gas in order to compile all your taxes and I know in our prerecord conversation you were talking about the organizational component that makes your services it amplifies and makes it easier to do so. Can you talk a little bit about the guidance that you give business owners in order to make the tax planning service or the tax planning easier accurately Your Business Owners? We are required to operate in a business. Like manner meaning. We have to keep accurate. Books and records were so keep contemporaneous records and supposed to be falling corporate formalities. Bertha maintain documentation to support our businesses expensive. And if you gentlemen would not only can get into trouble with the irs but you can unknowingly exposure stuff to read or you could not only gypped with the IRS but You could also potentially piercer corporate veil where your reputation is stripped. And you become personally liable. So it's a white. You've developed to bill to protect yourself by incorporating all gone for nothing now. Many business owners don't fully understand their responsibilities. They named had an attorney or they used an online legal service to set up their corporation or their Elo fee opinion. Really understand what it meant and what they need to do and what I find through the tax planning process if my become a lot more organized because we walked through some of that this malady doubt them understand. You can do this and you can't do that. Let give an example I can't tell you the number of times that I went through a client's records with and personal attention running to their corporate which is a no. I'm not only. Are you required to keep separate books in record but the other part is if you had a plane turning who started looking through records and the you have personal extensive filtering through your corporate business. You're opening yourself up for an opportunity for them to say Bush corporate. Del should be appears and that the corporate protection should be taken away so at heart of the practice that I walked through. We that's punched out. Okay let's separate things out. You need to understand personal which personal personal keep separate link and what what business expenses or right there and I do talk to either. You know I didn't know if I could or you don't there aren't change growth like we put it through hoping would notice and there shouldn't being an adversarial relationship with your taxing by their. You know it it sent me. Let me see what I can sneak through. It should be we me very deliberate about what we're putting true and this should be ongoing ongoing process that way at the end of the year scrambling it should be as situation. Where every month you got you know every month you know how much you're making Attorney at Kor voter. We have an idea.

IRS advisor Irs business owner Hackney attorney Aaron Del Paul Bertha Bush
"irs" Discussed on Newsradio 970 WFLA

Newsradio 970 WFLA

04:17 min | 1 year ago

"irs" Discussed on Newsradio 970 WFLA

"Here and how to get the IRS out of your IRA so what it does is gives a very simple layman's overview of the tax cut and jobs act as well as the passage recently of this new secure app which got rid of that the stretch IRA which again about the time we expire is about the time money will be inherited by our children who are about to retire so they'll be in their highest wage earning years and one of things I teach is if you look at what the secure act is going to cost over the next ten years which is about fifteen point seven billion the number of people that will be passing over these next ten years that will force their their inherited IRA's upon their children and grandchildren to be liquidated under the new rules of ten years also generate they predict about fifteen point seven billion so think about that on the backs of boomers and retirees with the greatest of intentions to leave this money to the next generation to leave this world better than the way we found it is going to be who carries the burden of the price tag to pay for all these other promises in what's called believe it or not and you can't make this up the secure act focus anything but secure for those that have worked hard and saved hard in tax deferred accounts like IRA's and four oh one case like I write about my books don't become the government's perfect taxpayer because that's not a title that you want to take home so what I want to teach you is what you can do we have an entire tax team we have a thirty four year certified tax master staff CPA's folks that instead of telling you how much you owe strategize from a retirement perspective and a tax rate regulated perspective of how much tax you have to pay so instead of telling what you will tell you how much less you have to pay quite a difference in by going to taxes save dot com in requesting that analysis I'll give you that guy taxes in your retirement how to protect yourself if you work hard for your money we look at some of the said look check I I'm I'm already those that are retired to share with us look I'm already concerned about having to reduce my retirement some of you said here I'm not sure if I'm going to be able to reach retirement and many people are puzzled that it's a higher predictability if you're trying to figure out if you can retire or maybe one spouse RT is once trying to figure that out by just getting rid of on necessary taxes you see what I talked about recently was that the contract Congressional Budget Office regard this is not having a Bernie Sanders an officer Joe Biden or somebody with this green new deal pushing all these crazy promises basically to buy votes this is just based on where we are running about a trillion dollar deficit per year in other words we're spending a trillion more than we're taking in yeah we're taking in about three and a half trillion were spending about four and a half trillion this prediction of this study is that will be over paying a deficit of about two point one trillion in the next ten years or less that's assuming no war no recession no increased interest rates and get that point the government's gonna have to step in and create what's called a value added tax a vat tax which has been very popular in Europe folks of somewhere around twenty to twenty five percent and a payroll tax increase of another fifty percent which puts payroll taxes going from about fifteen to twenty three almost twenty four percent so the time to protect your tap future tax on your money is in twenty twenty to go to Texas a dot com that's taxes save dot com request the saving tax optimization plan analysis is it coming out of my new book about to release my eighth book and it's giving you kind of a head start on learning what that is and then teaching you and I'll talk about after this break how you can design right alternative income sources so that you can have upside without the downside not this crazy you know market fluctuation like we've been seeing over these last couple weeks for up a thousand down a thousand a thousand down a thousand and people not realizing in a one week recently people lost over ten percent and then the market came back in one day five percent will folks if you lose ten percent you've got to make a Levin point one percent just to get back to even the people as of now still aren't many aren't back to even well we'll talk about how you can do that but also make it all.

IRS
"irs" Discussed on Biz Talk Radio

Biz Talk Radio

02:56 min | 2 years ago

"irs" Discussed on Biz Talk Radio

"Through the IRS thing what is the most pervasive these days are those usual tried and true still in the in the mixtape yeah the the IRS scams are pretty current although there's a real need very ation this one is is so ingenious and of course you know we should expect it to be ingenious somebody these criminals their scam artists that the only criminals we call artist so here's how it works the first they hacked into your tax return probably from your accountant's office for they may get it from you so what they do is they use that information when they filed a phony return using information like the number of kids you have is dependent basically they can get by the irises security because for the most part is gonna look pretty accurate then they tell me up a W. too but sure is the good part of the really interesting part instead of having it sent wired to them to their bank account or to have the checks into them they have this inflated check sent to you the victim either to your bank account or by check then you get a call appears to come from the IRS your caller ID says it's the IRS they said there's been a mistake you got a refund in the amount of and they give you the exact amount and that is in excess wire that money to us and people fall for it because it sounds legitimate they got a real check from the IRS the mistake and they send it to the bad guys because as always that was always the issue for me is like okay look I can see us so we can follow return for me but if they're going to get a check yeah think I'll take it to a bank somewhere let's get a check cashing place or or if they're gonna get a wire transfer they're putting through the pretty throughout you know bank cordon it's everything else that I never could figure out some way to trade the the the thing for me is at some point is it is the IRA ever going to be armed enough to prevent this before it happens because in my mind it seems like it happens far too often it is happening the same people the same time here in this is yours to stay right there we're not going to get into that more to delve into that a little bit because and also that's one of the things that that scared me how can I get me one help me twice well your name is Ross this fall I do not like the third most none of them are out there John Smith I don't like throwing in letters Dacula listings of thought tax return he that's all of these guys from from the states are everybody from Ukraine our system he did it was in the M. as in the mail your it's time to stop the insanity.

IRS