Midterms & Your Wallet - The WealthAbility Show
The WealthAbility Show #123: Biden is giving the IRS an additional $80 billion in his budget. They claim that services will be improved, but how much weight does that really carry? Are you more likely to get audited now? In this episode, Brian Riedl joins Tom to discuss how the midterm elections will secure or scuttle Joe Biden’s fiscal agenda, and what it means for your taxes.
Order Tom’s new book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
00:00 – Intro
02:55 – If democrats control both the senate and the house, what freedoms will they have in their tax policy?
05:30 – Why does it require only 50 votes to pass a budget? What is the reconciliation process?
09:03 – How many more people will the IRS be auditing per year?
15:45 – Will some of the IRS budget be spent on technology to enforce?
Looking for more on Brian Riedl?
Website: www.Manhatten-institute.org
Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax. https://wealthability.com/tom/
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