The Chips Bill is Set To Clear, Episode 23 by Ron Cohen

The Chips Bill is Set To Clear, Episode 23, by Ron Cohen
This week we discuss how Senate Democrats are pursuing a narrower “BBB” without a significant tax title, how the Senate is set to clear pared-down CHIPS bill with tax break for US semiconductor makers and the Employee Retention Credit (ERC) is a refundable tax credit for businesses that retained their employees during the COVID-19 pandemic. Additionally we look at how the IRS is finally going after the OIC mills that are dishonest and take advantage of taxpayers’ lack of knowledge to make a quick buck.
The Chips Bill Show Notes:
https://www2.deloitte.com/us/en/pages/tax/articles/tax-news-and-views-newsletter.html
Please let us know if there are specific topics you’d like to hear about in future episodes.
Ron Cohen,
CPA, Partner at Greenstein, Rogoff, Olsen & Co., LLP CPAs & Advisors
Email: rcohen@groco.com
510.797.8661
Click here to listen to more from Ron.
Click here, then scroll down, to see Ron’s bio.
To receive GROCO’s free newsletter, click here.
Click here to learn more about Greenstein, Rogoff, Olsen & Co., LLP (GROCO.com) Advisors to the ultra-affluent.
Have a Tax Issue With the IRS? You Could Always Take Them to Court
What would you do if the IRS makes a decision you don’t agree with? For example, let’s say you file a tax return and send it in expecting to receive a refund of $1,500. However, a few weeks later, instead of receiving your refund, you get a letter in the mail informing you that you…
Will Fewer Audits Lead to More Cheating?
There’s an old saying that cheaters never prosper. Of course, there are probably many people who have gotten away with cheating that would beg to differ. When it comes to taxes, however, it’s always best to avoid cheating. Surely, some people do get away with it, but if you ever get caught it could cost…
Could a Trust Be a Good Way for the Wealthy to Save on Taxes?
When you think of trusts, what comes to mind? While many people think of a financial account that is set up as part of an estate plan, there are a couple of little-known trusts that taxpayers, especially the wealthy, can use to help them save on their tax bill. These trusts are perfectly legal and…
How to Avoid Tax Preparation Scams
With so much to do and so many other important things to worry about, many people will be looking for help over the coming weeks and months with their income tax returns. While some people might just choose the first name they see to file their taxes, whom you choose can actually make a big…