Lots of IRS News, Good And Bad
Taxpayer Advocate: “More misery in 2022.”
Source: taxpolicycenter.org
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IRS Winks at $50 Billion Tax Giveaway to the Rich
President Biden’s landmark Inflation Reduction Act earmarks $80 billion over the next ten years for the Internal Revenue Service (IRS). According to the Treasury, most of the money will be going toward increased enforcement—specifically, stopping rich Americans from cheating on their taxes. Yet the same agency has strangely signed off on a huge tax loophole
Source: dissidentvoice.org
Hiltzik: Good news for retirement savers - Los Angeles Times
The omnibus bill signed by President Biden will make it easier for many people to save for retirement, but more help is needed
Source: latimes.com
Welcome back: What now on new tax rules for gig workers?
<b> </b>If you decided to essentially check out on tax news a couple days before Christmas — well, you missed a lot.
Source: politico.com
Treasury Department Outlines Rules for New Corporate Taxes
The preliminary guidance applies to an alternative minimum tax for large corporations and a tax on stock buybacks, which helped fund President Biden’s climate and health bill.
Source: nytimes.com