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Feb 13, 2024
02/24
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we are currently working with the irs. they are aware of the issue and trying to move the resources back to that position so we can clear out the backlog and fix it. host: the employee intention recredit? guest: that came out with the cares act in 2020. congress wanted to help businesses in need. think about small businesses, a restaurant for example. with covid, a lot of customers were not coming into restaurants. what congress wanted businesses to do in that situation was keep their employees on roll, in order for them to still receive a paycheck even though the business was not receiving the same amount of customers coming in. it was win-win -- the business stayed afloat and employees received a salary. congress created the employee retention credit as a way to provide businesses additional relief. host: and from the taxpayer perspective -- the document upload tool, what is that? guest: the document upload tool is something that irs i.t. folks came up with. my office was struggling getting documents into the irs. things
we are currently working with the irs. they are aware of the issue and trying to move the resources back to that position so we can clear out the backlog and fix it. host: the employee intention recredit? guest: that came out with the cares act in 2020. congress wanted to help businesses in need. think about small businesses, a restaurant for example. with covid, a lot of customers were not coming into restaurants. what congress wanted businesses to do in that situation was keep their employees...
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Feb 16, 2024
02/24
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CSPAN
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the road has been long. irs had their work cut out for them a long list of major implementation issues over the last decade but i'm glad to hear the irs to the passage of the inflation reduction act improving interactions with the public. last year and this same setting you and i were able to discuss well-documented reports over the last few filing seasons recipients of the earned income tax credit based higher audit rates than other taxpayers. these findings were assessed in detail. audits are more heavily concentrated in the southeast of the united states including the county several present in alabama's rules and underserved areas. my district was among the ten most audited counties in the country reit seek recipients and venture to guess the median income for a family of four is less than 30,000 dollars a year. since our conversation, you sent a letter to congress in september of 2023 mentioning the administration of an initial round of changes made regarding the audit process for the itc and i believe accou
the road has been long. irs had their work cut out for them a long list of major implementation issues over the last decade but i'm glad to hear the irs to the passage of the inflation reduction act improving interactions with the public. last year and this same setting you and i were able to discuss well-documented reports over the last few filing seasons recipients of the earned income tax credit based higher audit rates than other taxpayers. these findings were assessed in detail. audits are...
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Feb 26, 2024
02/24
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host: what are other changes the irs made? you mentioned there are several that they have to make each year. guest: the refund ability cap on the tax credit, the threshold for earned income tax credit, the tax brackets, the standard deduction, various thresholds were different tax rates kick in for different purposes. the limits on the section 199a deduction are adjusted for inflation, the state tax exemption is adjusted for inflation, various provisions like that through the tax code. all of them are for the idea of not taxing taxpayers on inflationary increases in their income. host: the house passed a bipartisan package on taxes that seemed to fall apart when it got to the senate. what is included, and what are the hopes for that moving forward? the house passed tax package has several important components. the main ones are restoring g toxic standards -- tax extenders in washington. it's usually everyone or two years and every one or two years congress extends them for another short time. congress has not done that for seve
host: what are other changes the irs made? you mentioned there are several that they have to make each year. guest: the refund ability cap on the tax credit, the threshold for earned income tax credit, the tax brackets, the standard deduction, various thresholds were different tax rates kick in for different purposes. the limits on the section 199a deduction are adjusted for inflation, the state tax exemption is adjusted for inflation, various provisions like that through the tax code. all of...
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Feb 13, 2024
02/24
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CSPAN
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zero confidence in the irs. est: one challenge for taxpayers is something that we refer to as a math error adjustment. irs has the authority to make an adjustment to your tax return. one of the things we have been pushing with the irs and now have come to congress and asked for legislative fixes is when congress sends out those math error notices that they provide a detailed explanation to the taxpayer on the changes and what are your rights to contest. under the internal revenue code, you have 60 days to say you disagreeing with the math error adjustment. they have to undo it and give you an opportunity to prove white you were right. what we have been concerned with are the letters that go out to the taxpayers. they are not clear. they do not provide enough information for the taxpayer to understand the adjustment. host: one you are asking does your guest know about direct file? guest: yes. direct file is a new pilot that the irs is doing where they have developed their own software. most people are familiar wit
zero confidence in the irs. est: one challenge for taxpayers is something that we refer to as a math error adjustment. irs has the authority to make an adjustment to your tax return. one of the things we have been pushing with the irs and now have come to congress and asked for legislative fixes is when congress sends out those math error notices that they provide a detailed explanation to the taxpayer on the changes and what are your rights to contest. under the internal revenue code, you have...
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the ideal situation for the irs is to make an assessment, get out, go to the next taxpayer. really sure that they are able to get their money because it will take more time to fill the tax gap. neil: what are the right offs people might be planning what it catches the irs's attention? dan:any time you have businesses that are known for being cash businesses that is always an area where people are going to not pay all their taxes because they have unrecorded income. that's the cardinal sin. anytime people are messing around with declaring all their income, the irs doesn't like that at all. on the other side with deductions, some of that can be gray areas. it's not as black and white as when people are not declaring their income. it always goes to those types of businesses or people who have the ability to hide income. neil: for what someone makes, they can realistically write off or deduct and if you are beyond those parameters they put you in a separate pile. it is from that pile, whether you are very rich or not at all very rich from which they do their targeting? right? da
the ideal situation for the irs is to make an assessment, get out, go to the next taxpayer. really sure that they are able to get their money because it will take more time to fill the tax gap. neil: what are the right offs people might be planning what it catches the irs's attention? dan:any time you have businesses that are known for being cash businesses that is always an area where people are going to not pay all their taxes because they have unrecorded income. that's the cardinal sin....
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Feb 24, 2024
02/24
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CSPAN
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i would say to talk to the irs about it. tentially try to get in contact with a taxpayer advocate service. per irs policy, they might not be able to change that. host: we have the irs tax policy advocate on this program recently. discussing a number of issues with the service, including that act long due -- back log due to covid that the caller was mentioning and how caught up the agency is currently. [video clip] >> three or four years the irs was struggling. like everyone else at the beginning of 2021 covid was spiking the irs shut down their facilities. as a result the returns were piling up and it took the irs two to three years to get out of the challenges that covid caused with respect to the workload. last year, the irs closed out the year almost even with respect to the returns that have been filed. the papers and electronic returns were processed, payments were made, but they have areas they need to improve.telephone service . there was a period of time, 2020-20 21, only 11% of calls were being answered by the irs be
i would say to talk to the irs about it. tentially try to get in contact with a taxpayer advocate service. per irs policy, they might not be able to change that. host: we have the irs tax policy advocate on this program recently. discussing a number of issues with the service, including that act long due -- back log due to covid that the caller was mentioning and how caught up the agency is currently. [video clip] >> three or four years the irs was struggling. like everyone else at the...
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Feb 10, 2024
02/24
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what does the irs look for there? well, the home office deduction, neil, was eliminated completely back in 2017. so, where people are trying to take that deduction is what's called the schedule c on their 1040. so, the irs is simply going to those that are reporting income and expenses on that schedule c, looking for office expense and saying, let's go there and see what's going on. so, that's the red flag that's out there for people, neil. >> a lot, too, with donations, charitable and otherwise, if that gets extra scrutiny and they're sort of invisible percentages if you earn this amount of main and giving away this amount of money, sometimes it jibes and other times it doesn't. what's the rule of thumb there? >> neil, what happens there, people should only be deducting their charitable deductions that are legitimate, but what happens here, remember, the tax system for the most part, you're on the honor system. so what happens is, the irs will look at the trends, how much money people make and then how much they gener
what does the irs look for there? well, the home office deduction, neil, was eliminated completely back in 2017. so, where people are trying to take that deduction is what's called the schedule c on their 1040. so, the irs is simply going to those that are reporting income and expenses on that schedule c, looking for office expense and saying, let's go there and see what's going on. so, that's the red flag that's out there for people, neil. >> a lot, too, with donations, charitable and...
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Feb 13, 2024
02/24
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CSPAN2
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we are currently working with the irs. f the issue and trying to move the resources back to that position so we can clear out the backlog and fix it. host: the employee intention recredit? guest: that came out with the cares act in 2020. congress wanted to help businesses in need. think about small businesses, a restaurant for example. with covid, a lot of customers were not coming into restaurants. what congress wanted businesses to do in that situation was keep their employees on roll, in order for them to still receive a paycheck even though the business was not receiving the same amount of customers coming in. it was win-win -- the business stayed afloat and employees received a salary. congress created the employee retention credit as a way to provide businesses additional relief. host: and from the taxpayer perspective -- the document upload tool, what is that? guest: the document upload tool is something that irs i.t. folks came up with. my office was struggling getting documents into the irs. things were getting del
we are currently working with the irs. f the issue and trying to move the resources back to that position so we can clear out the backlog and fix it. host: the employee intention recredit? guest: that came out with the cares act in 2020. congress wanted to help businesses in need. think about small businesses, a restaurant for example. with covid, a lot of customers were not coming into restaurants. what congress wanted businesses to do in that situation was keep their employees on roll, in...
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Feb 20, 2024
02/24
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CSPAN
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the irs says the funding has restored, renewed, and diversified. could reach as much as $851 billion from 2024 to 2034. that was one of the themes from the hearing featuring the irs commissioner. another thing that took place with how the wealthy pay in taxes versus what other people pay in taxes. questioning from lloyd smucker to the commissioner. [video] >> you have multiple times talked about high income earners . p talked about millionaires and billionaires. you have talked about complex tax returns. in the same sentence as tax avoidance and tax evasion. do you believe that million years at billionaires are all tax cheats? >> i do not. >> do you believe there is a reason for complex returns other than to avoid taxes? >> absolutely there is. >> what are some of those reasons? >> here's my understanding. cfos of major companies have a responsibility to their board and their shareholders to find the most tax advantaged status. and they should. >> it's not a problem for you if they took a legitimate tax deduction? >> never. if the return is accurat
the irs says the funding has restored, renewed, and diversified. could reach as much as $851 billion from 2024 to 2034. that was one of the themes from the hearing featuring the irs commissioner. another thing that took place with how the wealthy pay in taxes versus what other people pay in taxes. questioning from lloyd smucker to the commissioner. [video] >> you have multiple times talked about high income earners . p talked about millionaires and billionaires. you have talked about...
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Feb 15, 2024
02/24
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FBC
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under a loan, should they have to report is the irs and their tax returns? what about these? >> with respect to the taxes owed, the majority of the money hunter biden and we believe jim biden but we will know more about jim biden and away, the majority of the money hunter biden received, through the adversarial, suspicious transfers from countries to the shell companies he didn't pay a penny of taxes on them. the taxes that he owns are based on income, he still owes millions and millions of dollars on the influence peddling tea money, they need to take, after the irs went in and investigating biden plaster money laundering and tax evasion, from irs whistleblower's, from that point on it changed the way they were taking money in, now they started taking money and claiming it as a loan because you don't have to report a loan to the irs. if you get a loan and never pay it back, that is income. i can make a strong argument on your show today that the president's son and brother owed millions of dollars to the irs for the money they took in from the influence pedd
under a loan, should they have to report is the irs and their tax returns? what about these? >> with respect to the taxes owed, the majority of the money hunter biden and we believe jim biden but we will know more about jim biden and away, the majority of the money hunter biden received, through the adversarial, suspicious transfers from countries to the shell companies he didn't pay a penny of taxes on them. the taxes that he owns are based on income, he still owes millions and millions...
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Feb 16, 2024
02/24
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KTVU
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the irs is spending its windfall of $80 billion and fantasy land claims about how much revenue the agency thinks it will generate from increased audits and new irs data appears to back that view, showing the top 1% of taxpayers paid a record high 45% of all federal taxes in 2021. but werfel is pushing back, claiming the agency is only going after those who break the law. this should frustrate people and we have so many honest americans who pay their taxes on time, and these millionaires and billionaires are not. ultimately, the new irs effort to, quote, restore fairness to the tax system will likely continue. democrats are expected to make it an issue in the 2024 congressional campaign, despite criticism from republicans who say the irs should be spending money on services, not more audits. >> the question of fairness in the tax system is at hand. we all have different opinions about it. i believe that you're there to oversee fairness, and werfel is asking lawmakers for another $800 million to close what he calls the inequity gap on capitol hill. >> hillary vaughn fox business well, mortg
the irs is spending its windfall of $80 billion and fantasy land claims about how much revenue the agency thinks it will generate from increased audits and new irs data appears to back that view, showing the top 1% of taxpayers paid a record high 45% of all federal taxes in 2021. but werfel is pushing back, claiming the agency is only going after those who break the law. this should frustrate people and we have so many honest americans who pay their taxes on time, and these millionaires and...
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Feb 22, 2024
02/24
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CNBC
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good to see you. >> thanks. >>> all right, still ahead inside the irs crackdown the agency says it isn on wealthy tax cheats, and it is expecting big payday from the ramped u enforcement. robert frank will give us th details of his rare intervie with irs commissioner dann warful next. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis, help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley. with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley. ♪ (captivating music) ♪ (♪♪) the first law of thermodynamics states that energy cannot be created or destroyed. (♪♪) but it can be passed on to the next generation. (♪♪) fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs,
good to see you. >> thanks. >>> all right, still ahead inside the irs crackdown the agency says it isn on wealthy tax cheats, and it is expecting big payday from the ramped u enforcement. robert frank will give us th details of his rare intervie with irs commissioner dann warful next. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis, help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock...
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the irs has a report suggesting they are not complying with the law and we want to know how many irs have personal devices, how many have access to confidential taxpayer information and what are they doing to keep that information safe? the ccp would be interested in the tax information of american businesses and individuals so this is a serious issue and the irs needs to respond and ensure that americans confidential personal tax information is kept that way. stuart: i don't wish to be sarcastic but don't hold your breath on that one. >> that the experience we had with this irs, but we will keep pushing. stuart: the white house is ramping up its attacks on house republicans after they opposed the bipartisan border deal. watch this. >> house republicans have tried to stop the president from delivering the resources we need at the border. house republicans are going further and signaling they may refuse even to consider a historic bipartisan border security deal that would strengthen america's national security. house republicans change course from their years of playing politics with
the irs has a report suggesting they are not complying with the law and we want to know how many irs have personal devices, how many have access to confidential taxpayer information and what are they doing to keep that information safe? the ccp would be interested in the tax information of american businesses and individuals so this is a serious issue and the irs needs to respond and ensure that americans confidential personal tax information is kept that way. stuart: i don't wish to be...
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Feb 10, 2024
02/24
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FOXNEWSW
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the irs is the most powerful collection agency on earth and being in debt to the irs can have serious consequences. oftentimes it begins with the irs sending you a collection letter but then escalates and before you know it, you're having your paychecks garnished. your bank accounts seized. >> even your home or business could be at risk. my problem, i hadn't paid my taxes in eight years. i was trying to take on irs by myself. i have five children. i'm trying to take care my kids . a lot of stress. i owed the irs over $10,000. they told me the possibilities garnishing my wages to resolve this debt, that i owed them. >> i owed a lot of money to the irs. almost $15,000. there was nothing i could do about it. i was just overwhelmed of what to do. these stories are all too common, but thankfully, there's optima tax relief. >> america's number most trusted tax resolution firm, optimist experts have helped thousands of people with stories just like these resolve their tax debt. i owe 50,000. i only had to pay 3500. and now my dad is clean and i don't owe anything. it was it was easy. like on
the irs is the most powerful collection agency on earth and being in debt to the irs can have serious consequences. oftentimes it begins with the irs sending you a collection letter but then escalates and before you know it, you're having your paychecks garnished. your bank accounts seized. >> even your home or business could be at risk. my problem, i hadn't paid my taxes in eight years. i was trying to take on irs by myself. i have five children. i'm trying to take care my kids . a lot...
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Feb 22, 2024
02/24
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CNBC
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>>> with its new $60 billion in congressional funding, the irs is more than doubling the audits on theirs commissioner danny werfel for a rare interview. robert, a lot of times you're interviewing someone and they have the person being interviewed is sort of in silhouette did you go in silhouette so you didn't -- so danny doesn't know who you are? >> i was not an irs whistle-blower he gave us a lot of great information. >> did you give a fake last name >> i did not my taxes are easy and i follow the rules. i had nothing to worry about no partnerships for me >> w-2, that's it. >> irs commissioner danny werfel saying to me yesterday one of his chief goals is, quote, restoring fairness to the tax system, that means targeting the wealthy, partnerships and large corporations >> when i look at what we call our tax gap, which is the amount of money owed versus what is paid, for millionaires and billionaires that either don't file or underreporting their income, that's $150 billion of our tax gap. there is plenty -- >> per year? >> yes there is plenty of work to be done and in doing that work,
>>> with its new $60 billion in congressional funding, the irs is more than doubling the audits on theirs commissioner danny werfel for a rare interview. robert, a lot of times you're interviewing someone and they have the person being interviewed is sort of in silhouette did you go in silhouette so you didn't -- so danny doesn't know who you are? >> i was not an irs whistle-blower he gave us a lot of great information. >> did you give a fake last name >> i did not my...
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Feb 4, 2024
02/24
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coming up, this tax season, one of the biggest changes is at the irs itself. how a new program could change the way you file your taxes. and school lunch debt is piling up for families who are struggling to feed their kids. we talk to teachers and cafeteria workers in pennsylvania who want universal school free lunch. welcome back to, matter of fact, (♪♪) we come from a long line of cowboys. (♪♪) when i see all of us out here on this ranch, i see how far our legacy can go. (♪♪) more than 30 million children can't afford meals at school, many going without because of mounting school lunch debt. families had a temporary reprieve during the pandemic, when the government paid for every public school student to eat well. now, states are left to decide things on their own. only nine states officially have free meals california, maine, colorado, illinois, minnesota, new mexico, vermont, michigan and massachusetts. recently, south dakota lawmakers killed the bill for free lunch. advocates in pennsylvania are pushing for it. our correspondent laura chavez traveled to pe
coming up, this tax season, one of the biggest changes is at the irs itself. how a new program could change the way you file your taxes. and school lunch debt is piling up for families who are struggling to feed their kids. we talk to teachers and cafeteria workers in pennsylvania who want universal school free lunch. welcome back to, matter of fact, (♪♪) we come from a long line of cowboys. (♪♪) when i see all of us out here on this ranch, i see how far our legacy can go. (♪♪) more...
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Feb 29, 2024
02/24
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KRON
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she also reported to the irs. >> we made repeated attempts to contact the past year. we're told he's not commenting at this time. >> neither is the church nor their attorneys. that's the latest here chino hills. kareen wynter. >> all right. well, it's been decades in the making and now a connection between bart and the vta in the south bay is just a vote away from becoming reality. it would run trains on the east capitol expressway all the way to alum rock and connect to the milpitas bart station. the vta board will vote on a construction contract next month. if approved construction could begin in april. >> all right, taking a live look outside right beautiful shot from our mount tam cam overlooking san francisco on this. so lovely day, which promises to and today u.s. is to end and people employed like i'm doing it right now. i you finish my wife's story, which i hope to want to give it credit for something yeah, let >> don't put me down. tone was a little offensive to little authoritarian. still want to get you know, we don't have all day a claim. comedian richard
she also reported to the irs. >> we made repeated attempts to contact the past year. we're told he's not commenting at this time. >> neither is the church nor their attorneys. that's the latest here chino hills. kareen wynter. >> all right. well, it's been decades in the making and now a connection between bart and the vta in the south bay is just a vote away from becoming reality. it would run trains on the east capitol expressway all the way to alum rock and connect to the...
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Feb 15, 2024
02/24
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FBC
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today the commissioner explained what the irs is doing with all that money congress gave them. >> 100hat buys you 700 audits of millionaires and billionaires and 200 audits of complex partnerships, 100 audits of large corporations. before the innation reduction act, there was a fayetteville mus bibbingture of the -- fayetteville mus picture of cafeteria in austin, texas filled with returns of paraphernalia and that cafeteria is clean and people are eating than us storing tax returns. reporter: one upside of all the funding is getting the refund checks out to everybody, the middle and lower class that are expecting them 3 now they're not storing the tax returns on the cafeteria, there's no mustard stains on the returns. stuart: hillary, very good. check the market and same situation, green for dow industrials up 160 and red for nasdaq down 63. a split market. tony ribbens is with us -- robbins with us and has a new book called holy grail of investing and he joins me now. tony, what's your top financial advice for this economy? >> well, everyone want as good grade of returns and most ar
today the commissioner explained what the irs is doing with all that money congress gave them. >> 100hat buys you 700 audits of millionaires and billionaires and 200 audits of complex partnerships, 100 audits of large corporations. before the innation reduction act, there was a fayetteville mus bibbingture of the -- fayetteville mus picture of cafeteria in austin, texas filled with returns of paraphernalia and that cafeteria is clean and people are eating than us storing tax returns....
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Feb 22, 2024
02/24
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CNBC
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. >> the irs turning to ai to crack down on the ultra rich we'll explain. the s&p very close taltio l-me highs at 5060. back after this. rock star? what do you know about rock stars? billy idol? i mean where's the skin-tight leather? my shoes are leather. where's the unnecessary zippers? that thing! billy, rock star is just how doug feels when he uses workday. thanks, rory. i'll show you rock star! be a finance and hr rock star. workday. for a changing world. billy idol just stole your golf cart! that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. you can make money the hard way as a bullfighter with a partner or a human cannonball... or save money the easy way, with xfinity mobile. existing customers can get a free line of our most popular unlimited plan for a year! not only will you save hundreds but you'll also be joining millions who have connected to america's most reliable 5g network. sure is
. >> the irs turning to ai to crack down on the ultra rich we'll explain. the s&p very close taltio l-me highs at 5060. back after this. rock star? what do you know about rock stars? billy idol? i mean where's the skin-tight leather? my shoes are leather. where's the unnecessary zippers? that thing! billy, rock star is just how doug feels when he uses workday. thanks, rory. i'll show you rock star! be a finance and hr rock star. workday. for a changing world. billy idol just stole...
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Feb 19, 2024
02/24
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FBC
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instead of supersizing the irs we could downsize the irs.t supersizing it. turn it into a collection agency, what about something like that? >> that's right, david. we made a down payment on that with the tax cuts and jobs act. when you double the standard deduction, a much larger portion of the american people actually don't have to itemize, don't have to go through complexity. take the amount of income, apply the standard deduction, apply the rate structure. that allows us to get people off addiction to many special interest breaks. it enables us to move toward greater fairness and reduce a lot of these deductions that included in code. if we get it down where secretary mnuchin discussed people could file taxes on a postcard, that is the objective but we have to do it sequentially. david: meanwhile, russ, spending very, speaking of ad exdids, this administration is addicted to spending more that they don't have. annualized we have a deficit $1.6 trillion. it is growing, the last quarter came in $530 billion for the last quarter. where is a
instead of supersizing the irs we could downsize the irs.t supersizing it. turn it into a collection agency, what about something like that? >> that's right, david. we made a down payment on that with the tax cuts and jobs act. when you double the standard deduction, a much larger portion of the american people actually don't have to itemize, don't have to go through complexity. take the amount of income, apply the standard deduction, apply the rate structure. that allows us to get people...
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Feb 19, 2024
02/24
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KTVU
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the irs reports the average refund so far is less than $1,400.e average refund was nearly $2,000. however, accountants point out that people who get to claim that earned income tax credit can't legally receive their refund before mid-february, so that could change the numbers, the irs says. despite the smaller refund, on average, three of four tax filers are due to receive a refund. disappointing news for fans of nintendo, the video game maker will likely push back the release of its long awaited switch two gaming console until early 2025. that means it won't be available for christmas. on that news, shares of nintendo dropped nearly 6% in trading in japan, and taylor swift made a surprise announcement during the latest stop of her eras world tour. she told a sold out crowd in melbourne, australia, last night she will begin repeating songs during her acoustic sets. up until now, swift has followed her self-imposed ban on playing her surprise songs more than once during the tour. i'm pam cook, that's a look at your dollars and cents. >> all right.
the irs reports the average refund so far is less than $1,400.e average refund was nearly $2,000. however, accountants point out that people who get to claim that earned income tax credit can't legally receive their refund before mid-february, so that could change the numbers, the irs says. despite the smaller refund, on average, three of four tax filers are due to receive a refund. disappointing news for fans of nintendo, the video game maker will likely push back the release of its long...
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Feb 13, 2024
02/24
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CSPAN
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challenges with the irs. we refer to ourselves as the safety net when all sales, our office is there to help taxpayers one on one. congress also gave us the authority to provide recommendations for the irs with respect to problems of service or administration or they focus on protecting taxpayer rights. we have the ability by the statute to provide administrative recommendations and also the ability to provide legislative recommendations. in our annual report to congress, we provide recommendations to improve administration, to make it easier to file your taxes. host: a line from that report to congress -- the year 2023 was one of extraordinary transition for the irs and taxpayers. cautious optimism. why do you have cautious optimism? guest: i think a lot of us are trying to put the pandemic behind us, but during those years, the irs was also struggling. like everyone >> we're going to leave this. finish watching it on the c-span now video app, we take you live to the floor of the house. 5856 as amended. the s
challenges with the irs. we refer to ourselves as the safety net when all sales, our office is there to help taxpayers one on one. congress also gave us the authority to provide recommendations for the irs with respect to problems of service or administration or they focus on protecting taxpayer rights. we have the ability by the statute to provide administrative recommendations and also the ability to provide legislative recommendations. in our annual report to congress, we provide...
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Feb 8, 2024
02/24
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that is what the irs would be. >> great. thank you very much. we are here to be helpful. we will come back to you. i owe you a photo. it is a pleasure. thank you so much. >> c-spanshop.org is c-span's online store. browse through the latest collection of c-span products, apparel, books, home the gore success
that is what the irs would be. >> great. thank you very much. we are here to be helpful. we will come back to you. i owe you a photo. it is a pleasure. thank you so much. >> c-spanshop.org is c-span's online store. browse through the latest collection of c-span products, apparel, books, home the gore success
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Feb 14, 2024
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. >> this year's tax deadline is now just two months away, the irs made inflation adjustments, raising tax brackets by 7%, clean energy credits were expanded and the lifetime limit is now gone. used electric cars now qualify for a credit, not just the new ones, and a turbotax cpx expert tells us why you should not wait to wait. >> file now. we don't know what's going to happen yet, and the irs commissioner did state if changes are made, that they would make adjustments automatically to people's tax returns. >> a reminder, the child tax credit did not go away, they were just reset to pre-pandemic levels. the average refund is around $1960 compared with about 2200, the same time last you. the deadline to file taxes is of course, april 15th. for more stories like this, join me and the team starting at 5:00 in the morning. you can also watch nbc news wherever you want. >>> all right, you saw this, kelsey and taylor sharing their love story after the win. we will share you the real the peninsula man, who was big on that moment. peninsula man, who was big on that moment. inw he is gett this
. >> this year's tax deadline is now just two months away, the irs made inflation adjustments, raising tax brackets by 7%, clean energy credits were expanded and the lifetime limit is now gone. used electric cars now qualify for a credit, not just the new ones, and a turbotax cpx expert tells us why you should not wait to wait. >> file now. we don't know what's going to happen yet, and the irs commissioner did state if changes are made, that they would make adjustments automatically...
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Feb 12, 2024
02/24
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that is what the irs would be. >> great. thank you very much. we are here to be helpful. we will come back to you. i owe you a photo. it is a pleasure.
that is what the irs would be. >> great. thank you very much. we are here to be helpful. we will come back to you. i owe you a photo. it is a pleasure.
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Feb 9, 2024
02/24
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real-time information on the backlog of claims and if any claims are withdrawn during the time when the irsalted processing. that is a challenge. maybe john i should turn to you -- if we have numbers? >> we increased our projections of the deficit as we anticipate under current law -- [indiscernible] -- those projections were created effectively in november. at that point we knew there was a moratorium but we had no idea what was on those pieces of paper at irs we had no idea what the future claims would be. irs anticipated going forward there would be stricter scrutiny of claims going forward. as a result, whether the pipeline is a smaller share. [indiscernible] work is reflected in the recent estimate -- [indiscernible] has more information available that probably reflects, it's hard to say. anticipated there are more things in the pipeline in -- then we knew in november. still some certainty on how successful the irs will be in evaluating which claims -- [indiscernible] >> great. other? no? good. thank you. we are here to be helpful. if you have further questions, let us know and we will
real-time information on the backlog of claims and if any claims are withdrawn during the time when the irsalted processing. that is a challenge. maybe john i should turn to you -- if we have numbers? >> we increased our projections of the deficit as we anticipate under current law -- [indiscernible] -- those projections were created effectively in november. at that point we knew there was a moratorium but we had no idea what was on those pieces of paper at irs we had no idea what the...
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Feb 20, 2024
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that you y said you're not supposed to mess with your books or you're supposed to tell the truth to the irsily business has done >> jessica: oh, my god. >> jesse: all we'r e saying jessica is wt e wantwh fair treatment.. t a mountain of evidence where the guy doesn't even have a business card. the bidens don't even have a web there's diamonds c missing,ar there's tax fraud. he's dia sitting down to dinnerh russian billionaires and then leaving them off the sanctions e list. donald trump you can see what he does. nosand one's complaining about . bidens are ripping people off o and then they're getting away with it.e we jusbit want -- ng >> jessica: can we talk about the fb i informant that was a total con. >> they're arresting the guy that blue the whistle. he's arresting the guy that blee the whistle on him jessica justh like they did with the israeli. how come they don't -- >> jessica: and i would argue that wasn't respectful. >> jesse: how come-- they didn' arrest the fbi informant who had the fbi collusion?t hoarw come they didn't arrest wi curveball that said there were l wmds in iraq?
that you y said you're not supposed to mess with your books or you're supposed to tell the truth to the irsily business has done >> jessica: oh, my god. >> jesse: all we'r e saying jessica is wt e wantwh fair treatment.. t a mountain of evidence where the guy doesn't even have a business card. the bidens don't even have a web there's diamonds c missing,ar there's tax fraud. he's dia sitting down to dinnerh russian billionaires and then leaving them off the sanctions e list. donald...
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Feb 26, 2024
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tristan leavitt the attorney for the irs whistleblower gary shapley who testified against hunter thist off, how does this fbi agent, who seems to be tainted, who is labeled as a 14-year informant, highly compensated in the past affect what your client has spoken about and testified on? >> no way. so the irs whistleblower is gary shapley zeigler brought forward extremely significant evidence how the case against hunter biden had been slowed. how it had been delayed how appointees by president biden had impeded bringing charges in california and the district of colombia. but they also testified that they were never even told about smirnov's allegations were contained in the fd 1023 from the fbi none of what they testimony. we are see what he says today doesn't affect the case the prosecutors in delaware have built about against hunter biden a lot of them end up in jail or missing. came out and said president biden's presence at that time a lot of these key events was noteworthy as well as i guess his push to be on the cefc board of china which was a -- which was one of those groups actu
tristan leavitt the attorney for the irs whistleblower gary shapley who testified against hunter thist off, how does this fbi agent, who seems to be tainted, who is labeled as a 14-year informant, highly compensated in the past affect what your client has spoken about and testified on? >> no way. so the irs whistleblower is gary shapley zeigler brought forward extremely significant evidence how the case against hunter biden had been slowed. how it had been delayed how appointees by...
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Feb 28, 2024
02/24
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there have been audited by the irs, yet. this guys they're letting a statute run. now come on. you got another his influence there, and that's wrong. all this is wrong. >> here's the thing, congressman, there's a distinction again between what is ethical and appropriate hopefully it and what is actually a sign of an illegal action, something that would actually need to an immigrant instrument and at this point, given the documents that i've seen, i don't see evidence that you have a smoking gun that shows that when he was vice president, he abused his power to enrich himself or his family members his last name is biden. that's what they were sailing >> congressman tim burchett i've enjoyed the discussion, sir. i look forward to having another one bar is due in the future you can call your weaken both color therapists and say we don't need any help this week, we've already released on both at the thank you, brother it's appreciated, sir. thanks so much still to come on news central, a massive wildfire is tearing through the texas panhandle as it ravages the equivalent of 150 foo
there have been audited by the irs, yet. this guys they're letting a statute run. now come on. you got another his influence there, and that's wrong. all this is wrong. >> here's the thing, congressman, there's a distinction again between what is ethical and appropriate hopefully it and what is actually a sign of an illegal action, something that would actually need to an immigrant instrument and at this point, given the documents that i've seen, i don't see evidence that you have a...
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Feb 10, 2024
02/24
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that is what the irs would be. >> great. thank you very much. we are here to be helpful. we will come back to you. i owe you a photo. it is a pleasure. >> washington journal continues. host: welcome back. we are joined by philip bobbitt, a constitutional scholar at columbia university law school and distinguished senior lecturer at the un
that is what the irs would be. >> great. thank you very much. we are here to be helpful. we will come back to you. i owe you a photo. it is a pleasure. >> washington journal continues. host: welcome back. we are joined by philip bobbitt, a constitutional scholar at columbia university law school and distinguished senior lecturer at the un
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Feb 20, 2024
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david: the other thing with thef orspending on ukraine there's na attempt to pay for it by taking something away from other things, for example super sizinl irs alone, israel is about 15 15 - $18 billion that's how much the supplementalmate has that. >> approximately 14 billion in irs offset that would not increase national debt. >> 50 billion is how much you administration wants to spend on the irs you would only have to. take one third in order to pay for israel.xp >> there are multiple avenues of offsets we could utilize the unused covid expenditures and utilize the moneeny of betsy mccaughey who is part of the october 7 incident we can lookip at the offsets and thele kind offset there are multiple waysg we can look at it because thee greatest domestic and national security threat is the34 growing debt we have $34 trillion, no gdp to national debt income ratio strategy and were not looking at reforms, prosperity and growth which are the three key things that are necessary and we continue to borrow borrow and spend 1.6, $1.7 trillion level that is not sustainable for the american people or theyi nation. david: we've got to leave it there, t
david: the other thing with thef orspending on ukraine there's na attempt to pay for it by taking something away from other things, for example super sizinl irs alone, israel is about 15 15 - $18 billion that's how much the supplementalmate has that. >> approximately 14 billion in irs offset that would not increase national debt. >> 50 billion is how much you administration wants to spend on the irs you would only have to. take one third in order to pay for israel.xp >> there...
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Feb 15, 2024
02/24
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they want to defund the irs. d help. i know you're doing the best job that you can do with the resourcesre you have. we understand that for these agencieses to modernize anita hl of al lot more money to moderne with no risk towards the people. and so we need to call out republicans on the hypocrisy. we knew to fund the government. we need to pass the proactive we need to make sure everybody has health care in this country, that we fight gun violence and that we know what we did to do. so you all thank you summit having me here. all. and in the words of congresswoman barbara jordan,, what the people want is simple, a country as great as its promise. thank you for fighting for the promise every day. let's go.an [cheers and applause] >> what's disgusting? >> unionbusting. >> god bless you all. thank you so much. >> thank you. all right. all right. all right, give it up for representative maxwell frost. [cheers and applause] >> all right. what's disgusting? >> unionbusting. >> what's disgusting? >> unionbusting. >> wh
they want to defund the irs. d help. i know you're doing the best job that you can do with the resourcesre you have. we understand that for these agencieses to modernize anita hl of al lot more money to moderne with no risk towards the people. and so we need to call out republicans on the hypocrisy. we knew to fund the government. we need to pass the proactive we need to make sure everybody has health care in this country, that we fight gun violence and that we know what we did to do. so you...
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Feb 29, 2024
02/24
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this morning a vote on the irs chief council nominee. and looking at buy america electric charger role. and yesterday senator mitch mcconnell announced he'll step down. we'll take you now to the senate floor. watching live coverage on c-span2. barry black will open the senate in prayer. the chaplain: let us pray. o lord, our god, wonderful in glory who keeps your promises to those
this morning a vote on the irs chief council nominee. and looking at buy america electric charger role. and yesterday senator mitch mcconnell announced he'll step down. we'll take you now to the senate floor. watching live coverage on c-span2. barry black will open the senate in prayer. the chaplain: let us pray. o lord, our god, wonderful in glory who keeps your promises to those
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Feb 28, 2024
02/24
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, or the system of the electronic procurement headquarters of the government at the address of the ir point of the headquarters and know the details of the auction to submit a proposal. go to the provinces and make sure to buy these products so that you can make a good choice. on saturday, march 19th, the decoding of this great nationwide contest of the organization will be done and the winners will be announced immediately through the government's electronic procurement system. according to the officials of the property organization , three more nationwide auctions will be held by the end of this year. it will be held by mehdi anari of sed and sima news agency, according to the announcement of national gas company, the amount of gas consumption in domestic, commercial and non-major industrial sectors reached 682 million cubic meters. in order to know more details, i am currently talking with the director of the country's gas network control center. hello mr. aqli . please tell me how much gas consumption has been up to this moment and which stephens were consuming more? greetings to
, or the system of the electronic procurement headquarters of the government at the address of the ir point of the headquarters and know the details of the auction to submit a proposal. go to the provinces and make sure to buy these products so that you can make a good choice. on saturday, march 19th, the decoding of this great nationwide contest of the organization will be done and the winners will be announced immediately through the government's electronic procurement system. according to...
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Feb 14, 2024
02/24
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republic didn't withhold support either time. and major branch of the islamic revolution guard score, the ir gc is also named quds, the quds force which was headed by major general qasim sulaymani until he was assassinated by the united states has been a major force in streamlining regional resistance to the israeli regime and its puppet master and only source of survival, the united states. today the quds force is credited with not only enabling palestinian and other resistance groups across the region to procure their own means of defense, but also training them in elite. to warfare, whether it is the palestine liberation organization, the plo, or hamas, the islamic republic has been unwavering in its support for the palestinian struggle for freedom, and the iranians have said invariably that peace in west asia can only come when the palestinian issue is resolved. their solution is a referendum in which all the original inhabitants of palestine, including muslims, christians and jews, can freely express their opinions about. their desired system of governance with the latest israeli war on
republic didn't withhold support either time. and major branch of the islamic revolution guard score, the ir gc is also named quds, the quds force which was headed by major general qasim sulaymani until he was assassinated by the united states has been a major force in streamlining regional resistance to the israeli regime and its puppet master and only source of survival, the united states. today the quds force is credited with not only enabling palestinian and other resistance groups across...
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Feb 15, 2024
02/24
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the irs whistleblower alleged the attorney general lied under oath. was the attorney general telling the truth when he said this? >> do we have the chart? was the attorney general telling the truth when he pledged not to interfere? >> again, i cannot speak to the attorney general's testimony. i can only tell you what my instructions have been. >> has there been political interference in the investigation of hunter biden and joe biden. >> not that i have experienced >> were the investigators allowed to investigate whether joe brian joe biden was complicit? >> there is an ongoing investigation >> i am asking about the corruption from doj? were they allowed to investigate joe biden or is the whistleblower telling the truth that the doj said joe biden is off limits no questions about the big guy? >> as to what is in scope are not in scope with the ongoing investigation i would refer you to special counsel weiss. that is not me hiding behind anything that is a long- standing policy -- >> you have a responsibility to the fbi. not to allow it to be a partisa
the irs whistleblower alleged the attorney general lied under oath. was the attorney general telling the truth when he said this? >> do we have the chart? was the attorney general telling the truth when he pledged not to interfere? >> again, i cannot speak to the attorney general's testimony. i can only tell you what my instructions have been. >> has there been political interference in the investigation of hunter biden and joe biden. >> not that i have experienced...
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Feb 28, 2024
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the irs announced they would no longer be making unannounced visits to american citizens homes. at's a good thing. the commissioner at the irs said we are doing this because we are concerned about the safety of our agents. baloney. [laughter] >> they are doing it because we caught them knocking on matt tai bi's door when he was testifying on the weaponization of government. he's testifying and democrats are asking him to reveal his sources. they are attacking his free press rights and he explaining why you can't do that and he didn't have to divulge his sources. it turned out they owed him money it wasn't the other way around. sometimes, just by highlighting these things, you can have an impact. we just have to keep it up. we will also be focused on legislation particular where the government is involved in censoring american speech. you have a cause of action. we have legislation that mr. bishop and ms. hagan will introduce in the district committee we think will help address the situation. that is the most important thing. all this other crazy stuff, we can recover from it all
the irs announced they would no longer be making unannounced visits to american citizens homes. at's a good thing. the commissioner at the irs said we are doing this because we are concerned about the safety of our agents. baloney. [laughter] >> they are doing it because we caught them knocking on matt tai bi's door when he was testifying on the weaponization of government. he's testifying and democrats are asking him to reveal his sources. they are attacking his free press rights and he...
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Feb 12, 2024
02/24
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so it's making it easier for them to process through the irs to get started. ight now there's no specific designation for this. this bill would allow it. um, another big bill. we've got that we've coauthored with other members is to give for the news media the same thing that congress gave for the film industry and the record recording industry years ago. but facebook, google, the tech companies have been very obstinate in lobbying against it. they have benefited from, uh, getting the revenue that used to go to local news outlets . >> oh, right. right um, i think that is already in the works. right. what's the status on that? >> we've introduced these collectively, these, uh, these four, three bills. uh, first with david cicilline, uh, from rhode island, who is my partner in this initiative. he has since retired. uh, so now, uh, representative jayapal from washington is carrying that bill with me. and then these other two have a number of authors. >> all right. um, can you explain how local journalism got into this dire straits situation ? >> well, we went from
so it's making it easier for them to process through the irs to get started. ight now there's no specific designation for this. this bill would allow it. um, another big bill. we've got that we've coauthored with other members is to give for the news media the same thing that congress gave for the film industry and the record recording industry years ago. but facebook, google, the tech companies have been very obstinate in lobbying against it. they have benefited from, uh, getting the revenue...
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Feb 17, 2024
02/24
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this is being redirected to the irs, which has never met an audit investigation that they don't like, at least again possibly to the manhattan -- to the federal authorities. >> right, on the irs point, are you referring to the audit that the times has reported on? >> yeah. >> the audit is another issue we are not talk about a lot. we reported in the story in 2020 when we got his tax returns. we could see in that information that we got that there was a lot of data, there was not going on. we determine just based on that one audit that it has been going on for years, that he could face a penalty in excess of $100 million, and i would imagine that is growing every day with interest. that audit is going on inside of the irs. we have no visibility into it. we don't think that it's been settled, but we don't know. but that is another pressure that is potentially on him. that is a real issue, and added on top of the other ones, there are several judges that we saw yesterday with e. jean carroll penalties that he's going to have to pay, these are huge, and they are not things that you can ju
this is being redirected to the irs, which has never met an audit investigation that they don't like, at least again possibly to the manhattan -- to the federal authorities. >> right, on the irs point, are you referring to the audit that the times has reported on? >> yeah. >> the audit is another issue we are not talk about a lot. we reported in the story in 2020 when we got his tax returns. we could see in that information that we got that there was a lot of data, there was...
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Feb 17, 2024
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that also does not include whether or not this case is now going to be sent to the irs. >> which we believe that to shames has scented both of the federal investigators to look at and the irs. >> not only if it goes to the irs but also the state tax department, new york city department of taxation and finance as well as the state department of taxation and finance. this number is substantially greater, even then the 500 million that everyone is talking about. >> looking forward to talking to my friend, thank you for being with us again. i suspect we will have more occasions to talk. as always, michael cohen is the former counsel to donald trump, the author of the books revenge, and disloyal, the host of that mea culpa with michael cohen. and political beatdown podcasts. i will continue this conversation with david cay johnston, his piece poses a simple yet persuading question with the former presidents influence over the gop, bound to create more disaster. will republican leaders speak truth to trump? plus, still to come, we will discuss the disaster that the house gop is in how it continue
that also does not include whether or not this case is now going to be sent to the irs. >> which we believe that to shames has scented both of the federal investigators to look at and the irs. >> not only if it goes to the irs but also the state tax department, new york city department of taxation and finance as well as the state department of taxation and finance. this number is substantially greater, even then the 500 million that everyone is talking about. >> looking...
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Feb 1, 2024
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the irs does have a formula and the formula if the median family income is below 80% of the family incomeder area it is classified low income. that is complicated reason this is happening. montauk 17 million homes on zillow. rohoboth beach, biden's join, houses 2 million, 4 million, 6 million. >> tammy: low income is low income. these are supposed to be subsidy and money help people that need help. people who live their year-round in those environments are service-based people, fishermen, domestic help, people cleaning those $17 million home, people working in hotels and staffing restaurants. can be residents of new york city or are retired and don't have actual income. what the left has done, use protected classes as alibis to get policies through that damage lives. low income people are not buying electric vehicles, they are too expensive. this is alibi on their back to get their friends to have a charger or joe biden to have a charger when the people cleaning their homes are driving gasoline-powered cars and can't afford to put gas in the tank, courtesy of the same pain. >> kayleigh: t
the irs does have a formula and the formula if the median family income is below 80% of the family incomeder area it is classified low income. that is complicated reason this is happening. montauk 17 million homes on zillow. rohoboth beach, biden's join, houses 2 million, 4 million, 6 million. >> tammy: low income is low income. these are supposed to be subsidy and money help people that need help. people who live their year-round in those environments are service-based people, fishermen,...