Biden is hiring 87,000 new IRS agents — and they're coming for you
The Internal Revenue Service is hiring a fleet of new agents. And they’re probably coming for you — regardless of your income level. The Inflation Reduction Act, signed into law this month by President Joe Biden, empowers the IRS with nearly $80 billion in new funds. The world’s most powerful tax collection agency is using the money to go on a hiring spree to fuel much tougher enforcement efforts.It is widely assumed that the audits will be brutal and widespread. Taxes start with tax returns, which must be signed under penalties of perjury. The Biden administration has said that the audits....
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The IRS is hiring 87,000 agents, thanks to President Joe Biden’s 2021 infrastructure package, but they won’t be fully trained for three years. The Internal Revenue Service is hiring 87,000 new agents, but taxpayers will not feel the pain for another two to three years. That’s how long it will take the agency to hire and train agents. Few have discussed the extent of this pain. Still, it’s something to think about when you consider the majority of coming audits will be conducted by new agents, many of whom will have been hastily hired and operating with minimal supervision.Playing the audit....
On the heels of the last stimulus package, U.S. President Joe Biden is creating more legislation that may lead to a massive $3 trillion package dedicated to domestic needs and infrastructure. The recent discussions with Biden and Senate Democrats honed in on the political party’s “Build Back Better” campaign. The recent stimulus talks have a few economists feeling optimistic about the future of the American economy, while Treasury Secretary Janet Yellen has said: “the next stimulus bill will have to be paid for through higher tax rates.” Biden and Senate....
The Biden administration is reportedly drafting a government-wide cryptocurrency strategy as an executive order. The directive is expected to be presented to President Joe Biden in the coming weeks. The strategy could be released as soon as next month.
US Government-Wide Crypto Strategy
The Biden administration is reportedly preparing to release an initial government-wide strategy on digital assets, including cryptocurrencies. The strategy is being drafted as an executive order, Bloomberg reported Friday, citing people familiar with the matter, who revealed that senior....
Ethereum's Merge became final on Sept. 15, 2022. Seven developers are here to tell you why they believe it made Ethereum more sustainable, energy-efficient, and democratic. Since the founding of Ethereum in 2015, an animating question that plagued the community was answered at exactly 06:42:59 UTC on Thursday, Sept. 15, 2022.Ethereum, the technological layer where a new class of applications and self-organizing organizations are being built, eliminated its reliance on an energy-intensive consensus mechanism called proof-of-work (PoW) to a more sustainable and secure consensus mechanism....
U.S. politicians are talking about stimulus again in order to bolster American jobs and President Joe Biden’s infrastructure plan. At the end of last week, White House press secretary Jen Psaki explained that Biden would meet with bipartisan members of Congress on Monday in order to push his proposal. According to reports, Biden’s proposed plan could be a touch smaller than the estimated $2.25 trillion. Biden Suggests Scaling Back the $2.25 Trillion ‘Build Back a Better America’ Infrastructure Proposal The U.S. government is talking about creating more stimulus in....