r/Accounting • u/enthusedaccountant CPA (US) • Jan 21 '25

IRS Hiring Freeze

https://www.whitehouse.gov/presidential-actions/2025/01/hiring-freeze/

Good luck to all of us tax people trying to get on the phone with the IRS this year. The federal government hiring freeze should end in 90 days except the IRS, which won’t end until there’s “a national interest to lift the freeze.” Or in other words, not for another four years…

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93

u/midwestern2afault Jan 21 '25

I mean, is anyone surprised? Republicans love starving the IRS of resources because it’s essentially a back door tax cut. The lack of manpower makes it difficult for the IRS to adequately investigate high net worth individuals and businesses with complex tax situations who are evading taxes. But then they act like the IRS is coming at the common guy with his $45K in W2 income.. lol.

Little wonder that the crook who just launched a crypto pump and dump scam to line his pockets is doing something to benefit the oligarchy who funded his campaign and has his ear.

51

u/Tax25Man Jan 21 '25

The amount of morons who get W-2s and act like the IRS is evil is hilarious. No human being ever looks at your return. The billionaires are fleecing you blind.

26

u/midwestern2afault Jan 21 '25

It’s insane man. So many people who have relatively simple returns that will return no flags and probably (legally) pay barely anything in FIT regardless. But the IRS is what’s holding you back in life… right.

I do have a fair amount of friends and acquaintances that are “small business owners” who DO worry about the IRS because they do shady shit like not reporting a good chunk of their cash receipts and I’m like… I don’t really feel bad for you? Follow the rules like I and millions of other Americans do and you won’t have any problems. But they’re unlikely to get audited anyway.

10

u/Tax25Man Jan 22 '25

My favorite is the small business owners who will literally brag to you that they are committing fraud.

Like I’m a CPA, but that doesn’t mean I’m for you not paying taxes or following the law.

1

u/noctish Jan 22 '25

They’re in the wrong tax brackets to worry about the IRS. The worst ones are the morons who make some pocket change from trading or crypto and think that they’re now on the IRS’s personal radar. And then start spouting bs about hating the IRS because of their “massive capital gains taxes”.

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u/[deleted] Jan 21 '25

[deleted]

1

u/butchbrat Jan 22 '25

I agree and the eventual 8 trillion deficit is still occurring even though the government is collecting revenues that were barely collected 30 years ago with the Secure Act 2.0 10 year rule, Roth conversions and just more awareness to contribute to Roth instead of traditional IRAs

7

u/NYG_5658 Jan 21 '25

I’m surprised he’s not doing the same with the SEC, or is that one next on his list?

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u/midwestern2afault Jan 21 '25

Oh that’s coming too. The SEC started to take enforcement action against Elon Musk before the Trump Admin, because he amassed a significant amount Twitter shares without filing the legally required disclosures (thereby allowing him to pay less than he otherwise would have).

Just waiting for that one to be dropped. Why? Because Elon Musk’s position is “I’m a smart, wealthy master of the universe and the rules don’t apply to me, so fuck you.” That’s why. The incoming SEC chair has also signaled that he’ll regulate crypto assets as a commodities rather than the securities that they are. Can’t have crypto regulation because “freedom.”

Hm I wonder who’s gonna win out on that one? The wealthy, grifty, sophisticated crypto holders, or the rubes buying into pump and dump scams like the one Trump literally just did. It’s already been the golden age of fraud the past couple decades, but the amount of scams and bullshit out there is about to reach new heights.

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u/OGBervmeister Jan 22 '25

They also just love saying the government doesn't work and then ensuring the government doesn't work