by Mark Thomson | Jan 15, 2019 | What I have to Say
WASHINGTON — The Treasury has handed Congress an urgent deadline: Oct. 17. On that day, unless Congress were to raise the debt ceiling, the Treasury would have only $30 billion cash on hand, putting the United States on the precipice of an unprecedented default, the...
by Mark Thomson | Jan 15, 2019 | What I have to Say
The Internal Revenue Service has temporarily stopped sending out tax refunds, and the Tax Court has suspended operations during the federal government shutdown, as lawmakers in Congress continue their battle over delaying or defunding “Obamacare” for a year. “Tax...
by Mark Thomson | Jan 15, 2019 | What I have to Say
There’s an old adage that “there’s nothing new under the sun” and so it is inside the Beltway. As you are well aware, the federal government suspended most of its operations on Oct. 1 after Congress failed to pass a bill to extend funding to mid-November, the first...
by Mark Thomson | Jan 15, 2019 | What I have to Say
For more than a decade, Tim Quinn, CPA, CGMA, negotiated the tedious, back-and-forth magic of building the annual budget for Northern Quest Resort & Casino. Every year, it was the same time-consuming endeavor: Quinn, the company’s vice president of finance, would...
by Mark Thomson | Jan 15, 2019 | What I have to Say
The report, from the Treasury Inspector General for Tax Administration, pointed out that the IRS’s own employees and contract employees are required under the Internal Revenue Manual to pay any federal tax debts and file their taxes on time, but employees of IRS...
