Chapter
Investment into IRS to Increase Tax Collection
52:40 - 59:33 (06:52)
The Inflation Reduction Act proposes investing billions of dollars into the IRS to hire more agents and collect more tax dollars and past taxes. The IRS will need to beef up on auditing agents to collect more money, which may require the injection of more money into the government or more tax dollars.
Clips
The US government has just signed the Inflation Reduction Act due to inflation caused by excessive money printing resulting from the massive national debt of almost 31 trillion dollars.
52:40 - 54:03 (01:23)
Summary
The US government has just signed the Inflation Reduction Act due to inflation caused by excessive money printing resulting from the massive national debt of almost 31 trillion dollars. This raises concerns about taxation as the government uses taxpayers' money to pay off its expenses.
ChapterInvestment into IRS to Increase Tax Collection
EpisodeEverything You Need To Know About The Housing Market w/ Jaspreet Singh EP 1313
PodcastThe School of Greatness
The government is planning to invest billions of dollars into the IRS to replace the retiring agents and help the agency collect more tax dollars.
54:03 - 56:12 (02:08)
Summary
The government is planning to invest billions of dollars into the IRS to replace the retiring agents and help the agency collect more tax dollars. The Inflation Reduction Act aims to raise funds to inject into the IRS, which has resulted in concerns regarding taxation and inflation.
ChapterInvestment into IRS to Increase Tax Collection
EpisodeEverything You Need To Know About The Housing Market w/ Jaspreet Singh EP 1313
PodcastThe School of Greatness
The IRS has proposed adding a question about cryptocurrencies to form 1040, which would require taxpayers to share more details about their cryptocurrency activities.
56:12 - 59:33 (03:20)
Summary
The IRS has proposed adding a question about cryptocurrencies to form 1040, which would require taxpayers to share more details about their cryptocurrency activities. This move is expected to target high-earning taxpayers in order to prevent under-reporting of cryptocurrency transactions by individuals who might have resources to hire lawyers or accountants to help them avoid taxes.