$20B In Delinquent EIDL Loans Referred To Collections

The Small Business Administration (SBA) began referring $20B in delinquent Covid Loans, to the Treasury Department for immediate collection. Most of these were Economic Injury Disaster Loans (EIDLs) with a balance below $100K. Prior to this, the SBA had already...

Things The Middle Class May Not Be Able To Afford Shortly

I came across an article recently that threw me for a loop. I read it several times, wondering if it was possible. The more I read it, the more I realized that it was not only possible, but even probable in most instances. It talked about the things that the Middle...

Corporate Transparency Act Becomes Opaque

A federal judge in Alabama has ruled that the bi-partisan, anti-money laundering law passed in 2021, aka The Corporate Transparency Act (CTA), is unconstitutional. This legal injunction puts the future of the bill in jeopardy. As of now, we are no longer required to...

Vacationing Rules For Entrepreneurs

I recently read an article saying that “Do Nothing Vacations” have risen in popularity. In a new poll, vacations with nothing more than Sea, Sand, Sun, and my favorite other thing that begins with an “S”, had risen in popularity from 17% to 21%...

IRS Focusing On Upper-Income Non-Filers

In a press release issued yesterday, the Service announced that it was beginning a, “new effort today focused on high-income taxpayers who have failed to file federal income tax returns in more than 125,000 instances since 2017.” This is something that...

Strong Labor Market Defies Mass Layoffs

January’s unemployment numbers held steady at 3.7%. Employers added a seasonally adjusted 353K jobs last month. Meanwhile, back in reality, large companies are continuing to announce massive layoffs. This includes but isn’t limited to… Cisco –...

Real Estate Market Rebounds As Prices Increase

Please read that headline again and realize how what’s happening is completely illogical. It goes contrary to everything we were ever taught in Keynesian Economics. The number of homes sold in January of 2024 increased 3.1% from the prior month. These numbers...

2023 Tax Refunds Down 29%

The average refund this year as of February 2nd was only $1,395. Federal refunds over the same period last year were $1,963. This is a drop of 28.9%, but the average refund is likely to change as more are processed. Refunds that include refundable credits like the...

Bi-Partisan Tax Package Stalls and SALT Relief Dies

The much touted 2023 Bi-Partisan Tax Bill which passed the House with flying colors is now languishing in the Senate. Given the fact that our hard-working Senators are now on vacation until March 26th, it’s dead. Even if they brought it up for a vote when...

IRS Admits To Not Processing 1B Documents

In a blockbuster report that came out this week, The IRS admitted to having an unprocessed backlog of around 1B documents. That’s billion with a B. Those documents include but aren’t limited to… 1 – Income Tax Returns 2 – Payroll Tax...