Tag: IRS

Join Jim and Greg as they serve up two good martinis and a very bad one. First, they cheer House Republicans for making good on their promise to pass legislation repealing funding for 87,000 new IRS agents and building a campaign issue against every Democrat who voted against it – which was all of them. They also shudder at the Biden administration’s attempts to demonize gas stoves as increasing the odds of developing asthma and other ailments, but they are glad to see the intense pushback that appears to have forced the government to back down. Jim also notes an annoying and tedious tactic employed by Democrats on issues like this. Finally, they not only wonder about the health of our aviation sector after today’s major computer problem triggered a ground stop across the nation, but are increasingly sure Transportation Sec. Pete Buttigieg is simply not up to the job.

The IRS and I

 

So I got this letter from the IRS and…

Okay, I know what you’re thinking. You’re thinking, “It has truly been the greatest pleasure and privilege in my life to read your posts on Ricochet and I’m so sorry that you won’t be writing any more of them. By the way, what are the visiting hours at Leavenworth?” Okay, not all of you are thinking that. Or, maybe only one of you is thinking that (Hi, Mom!).

This week on Hubwonk, host Joe Selvaggi talks with Heritage Foundation senior research fellow Rachel Greszler about the $80 billion investment in the Internal Revenue Service, focusing on the promise to limit enhanced enforcement to high earners and whether the IRS will likely need to expand its net.

Guest:

Join Greg and Scot Bertram as they hammer the Biden administration and Democrats for promising a bill to lower inflation but really just spends more, taxes, more, and harasses middle class Americans. They also wonder what is happening at The Atlantic as it publishes a story downplaying far-left attacks on pro-life organizations but blasts the pro-life community for pointing out that it’s happening. And they sigh as the World Heath Organization won’t be honest about how to stop monkeypox but it’s super worried that the name monkeypox could be stigmatizing.

 

Nothing Is Certain But Death and Taxes. The IRS Can Deliver Both

 

In Orwellian Washington, DC-speak, a “budget reconciliation” bill is winging its way through Congress. Under the post-Watergate 1974 Budget Control and Impoundment Act, “reconciliation” bills have special status, especially in the United States Senate.

More Orwellian than calling it a “reconciliation” bill is its actual title: The Inflation Reduction Act. It does no such thing. But by the time you read this, it will likely have passed the Senate and is on its way to being rubber-stamped by a House narrowly controlled by Democrats and signed by a clueless, hapless, and compliant President. The Senate vote, I predict, will be 51-50, with Kamala Harris breaking the tie. There is always a chance a Senator won’t show up but don’t count on that.

Speaking of the IRS….

 

Well, at least someone was. The Nightly News featured about a 53-second segment on how the IRS is completely backed up on processing the 2020 tax returns.  If you blinked, you would have missed it.  However, it caught my attention because last week, we received a one-page letter that we had a credit that was deposited in our “account.”  Wow, I said to my husband, I think we have a refund! I put it aside, then looked at it again and decided to call our accountant.

His assistant asks me: “Did you owe money in 2020? (we always do so the answer was yes). Is it the same amount you owed? I wasn’t sure, but planned to dig out the return. She said they probably threw it away, but deposited your check.

“Excuse me, but what did you just say, I asked?! Could you repeat that – did you say they threw away our tax return??”

Jim and Greg are glad to see the public opposed by lopsided margins to many of the extreme provisions in the “Build Back Better” legislation. They also discuss new revelations about how involved Chris Cuomo was in helping his brother try to weather his many scandals. And they call foul on Twitter’s new policy banning any media unless everyone in the video or photo agrees to it.

 

Jim and Greg serve up all good martinis today! First, they welcome the warning from former Clinton administration Treasury Sec. Larry Summers that the Fed needs to focus on fighting inflation instead of getting involved in “woke” issues. They also enjoy seeing Maine Dem Rep. Jared Golden announce that he is opposed to the reconciliation bill, leaving Nancy Pelosi with a very narrow margin. And they’re happy to see Sen. Joe Manchin state that is opposed to the IRS getting access to our bank account transactions at any threshold without a very good reason.

 

Join Jim and Greg as they welcome the surprising analysis from NBC’s Chuck Todd that Pres. Biden had a major credibility problem on many different issues. They also smile at reports that Democrats fear they won’t be able to pass the $3.5 trillion monstrosity in its entirety or maybe at all, and they point out just one truly absurd provision in the bill that would impact all of us. And they highlight White House Press Secretary Jen Psaki for her ridiculous contention that illegal immigrants are not planning to stay long in the United States.

Breaking News: God Is a Republican!

 

In a roundabout way, the Infernal Revenue Service has declared God to be a Republican. Have a look:

An IRS official denied tax-exempt status to a Texas group that encourages church members to pray for state and national leaders regardless of their party affiliation because it benefits “the private interests of the [Republican] Party.”

Massive IRS Breach or Leak against “The .001 Percent”

 

Propublica, a leftist media organ, has just published an article on the wealthiest Americans, based on what they acknowledge to be illegal disclosure of taxpayers’ information. They will almost certainly not be prosecuted by the leftist DOJ careerists, once again backed by leftist political appointees. The leftist White House media mouthpieces are good with the felonies and already framing this as the rich not paying their fair share.

We see the set-up for Propublica’s June 8th publication in the June 7, 2021 White House press briefing:

It’s all good news on Tuesday’s Three Martini Lunch! Join Jim and Greg as they cheer a new rule which no longer requires many nonprofits to disclose donors to the IRS. They also cheer retail sales from May more than doubling expectations and suggesting Americans are ready to buy again. And they cheer politicians in the Williamsburg section of Brooklyn for defying New York City Mayor Bill de Blasio and busting open locked playgrounds in response to the city’s heavy-handed crackdown on the Orthodox Jewish community over COVID restrictions.

Thanks, IRS

 

Nice news from the IRS yesterday.  About two months ago we received a letter about our 2017 taxes.  Dear Mr. and Mrs E, we think you owe us about $7,000.

Turns out they were right that I missed reporting the cost basis for a mutual fund that we sold.  But I wrote them back explaining that the mistake actually caused us to overstate our gain, so we didn’t think any additional tax would be owed.  I was hoping they would just let it slide.

Jim Geraghty of National Review and Greg Corombos of Radio America welcome the news that tax refunds are now slightly outpacing the amounts issued last year by the IRS.  They also examine the record of the latest Democrat to run for president – former Colorado Gov. John Hickenlooper – and whether he has any path to victory.  And they get a kick out of New York Sen. Gillbrand insisting she’s not a flip-flopper after running for Congress as a moderate Democrat and now running for president as a ardent progressive.

Member Post

 

For this week’s Big Ideas with Ben Weingarten podcast, my guest was Rich Higgins. Higgins, an expert in unconventional warfare and combatting terrorism with over 20 years experience at senior levels of the Defense Department, and early supporter of President Trump, served as director for strategic planning in President Trump’s National Security Council (NSC). Preview Open

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