Tag Archives: letter

White House Says More IRS Funding Won’t Increase Audits for Lower Income Americans

By Ryan Cvitkovich | Published August 15, 2022

On Monday, the Biden Administration received major backlash regarding concerns about the new $80 billion for the IRS in the Inflation Reduction Act package. The funding was intended to help the IRS crackdown on the collection of under-reported income … Continue reading

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IRS Letter 6501 – Qualified Opportunity Funds

By Tom Long | Published April 18, 2022

At the beginning of April, the IRS announced that they will be sending a letter to people who need to take action related to Qualified Opportunity Funds (QOFs). If a taxpayer decided to attach Form 8996 QOF to their tax … Continue reading

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