The IRS, Inflation & Taxes with Garrett Watson

September 8, 2022

Inflation is an insidious, pervasive, and regressive tax that never gets voted on. On top of everything, the ambiguity of the language dictating the IRS adds an additional layer of confusion. In this episode, Garrett Watson joins Tom to discuss how to shield your clients from the impacts of inflation.

Order Tom’s new book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/

SHOW NOTES:
00:00 – Intro
04:55 – How is Biden’s 80 billion dollars being allocated?
07:09 – How long will amendment refunds take with the new IRS budget?
09:32 – Will there be more IRS audits compared to before?
13:35 – Who does the $400k rule apply to?16:08 – What’s the truth behind the numbers?
20:50 – Are auditors qualified to be doing what they do?
26:53 – The importance of policy.

Looking for more on Garrett Watson?
Website: https://taxfoundation.org/