Episode 42: The IRS destroys 30M paper filed returns.
Accounting and Accountability
English - June 03, 2022 16:37 - 32 minutes - 30 MB - ★★★★★ - 9 ratingsBusiness News News Business Management whitecollarcrime businessnews crimedrama irsupdates taxdeductions Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Episode 41: Secure Act 2.0 Passes House
Next Episode: Episode 43: Mileage reimbursement rate is on the rise
In this episode:
Lifetime in gift tax exemptions are $12,060,000 for 2022, due to be reduced to $5M after 2025. The IRS will increase interest rates at the end of Quarter 3 this year. Form 1023-EZ returns are being abused and overused for nonprofit organizations. Lawmakers are discussing rescinding. The proceeds from lawsuits from physical injuries may not be taxable. The IRS destroyed 30M paper filed returns.We also tell the story of Billy McFarland and his Fyre Festival disaster.