Episode 42: The IRS destroys 30M paper filed returns.

03/06/2022 32 min Temporada 2 Episodio 42
Episode 42: The IRS destroys 30M paper filed returns.

Listen "Episode 42: The IRS destroys 30M paper filed returns."

Episode Synopsis

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. 

More episodes of the podcast Accounting and Accountability