Comments on: Inflation Reduction Act: What Every Real Estate Investor Should Know

By: ed

ed — Mon, 15 Aug 2022 22:32:43 +0000

In reply to Stephen Nelson CPA. The 87,000 number was made up by a politician and is not part of the actual funding. Most likely about 20,00-30,000 people will be hired. Many will be positions like IT professionals, people to answer the phones, etc. 4 of 5 people do not get a call back from the IRS because they are short staffed. Also, a lot of the current auditors are retiring over the next few years.

By: William Shea

William Shea — Fri, 12 Aug 2022 17:05:35 +0000

In reply to Stephen Nelson CPA. India! They are graduating 2 million accountants a year per the outsourcing people who call me.

By: Stephen Nelson CPA

Stephen Nelson CPA — Thu, 11 Aug 2022 16:06:05 +0000

In reply to Jeff. Honestly don't see where in the world the IRS will find that many accountants. This is not a political comment. It's a practical, "HR department" comment.

By: Stephen Nelson CPA

Stephen Nelson CPA — Thu, 11 Aug 2022 16:05:19 +0000

In reply to JRogers. :-)

By: Charlie Butman

Charlie Butman — Thu, 11 Aug 2022 04:41:04 +0000

I guess Janet Yellen got her way with increased IRS enforcement. Good for the country since only 66%? of taxes due are paid. This is one reason for inflation. Everything they pass always creates more work for accountants and tax preparers. More job security for an already overworked profession.

By: Jeff

Jeff — Wed, 10 Aug 2022 22:32:46 +0000

Part of the reason why 87,000 new IRS agents are needed.

By: JRogers

JRogers — Wed, 10 Aug 2022 20:46:51 +0000

Seriously appreciate the write-up here. Not looking forward to increased IRS enforcement however.

At least they didn’t kill the S-Corp!

By: Stephen Nelson CPA

Stephen Nelson CPA — Wed, 10 Aug 2022 20:44:14 +0000

In reply to Jodi Vettese. I don't think you heard about that from us. Sorry.

By: Jodi Vettese

Jodi Vettese — Wed, 10 Aug 2022 20:23:46 +0000

I would like some more information on a concept you discussed at one point. It was regarding investing in land to be gifted to public lands to get a tax deduction to offset a Roth conversion.