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Archive for August, 2022

IRS Interest Rates Continue To Climb

Posted by taxguru on August 15, 2022

In spite of the Biden Gang’s attempts to pretend that there is no such thing as Inflation, IRS is required to adjust how much they charge for late payments and pay out for late refunds.

As of October 1, 2002, the rate will move from the current 5.0% APR to 6.0% APR.

Here is their official press release, announcing this:

IRS announces interest rate increases for the fourth quarter of 2022; 6% rate applies to most taxpayers starting Oct. 1

Three months from now, there will most likely be another IRS announcement of an even higher rate as of January 1, 2023.

For those people trying to maximize their return on investment, this presents an opportunity to earn much more than banks are paying. In earlier times when IRS interest rates were higher than bank savings accounts, I can recall some clients and others holding off on filing amended refund returns for longer than normal in order to accrue more interest from IRS. I’m not necessarily advising this, but just noting that it is a tactic that some people do in times like this.

Posted in inflation, interest, IRS | Comments Off on IRS Interest Rates Continue To Climb

Giving More Power To IRS

Posted by taxguru on August 7, 2022

There is no shortage of news coverage of the Dims’ proposals to give IRS billions more dollars in order to squeeze more money out of everyone. Here are some more humorous approaches to what we may have to deal with if the IRS’s wet dreams do come true.

From the August 2, 2022 episode of Gutfeld!



From Ben Garrison at GrrrGraphics:


From Rich Terrell:

From Lisa Benson:


From Dana Summers:



As I expected, my favorite satire group, The Babylon Bee, can’t resist pointing out some of the insane aspects of this new law.

New Bill In Congress Hires An IRS Agent To Live In Every Home

10 Ways To Avoid Getting Audited By One Of The 87,000 New IRS Agents

Saruman Breeds Army Of 87,000 More Tax Collectors

Report: By 2026 Everyone In U.S. Will Be Working For IRS And Will All Just Be Auditing Each Other

Gamers Eagerly Await The Release Of ‘Call Of Duty: IRS Auditor’

Want To Be One Of The New IRS Agents? Here Are The 17 Job Requirements

Biden Hires 87,000 Bused-In Migrants As IRS Agents




From A.F. Branco:

From Steve Kelley:

From Dick Wright:

Posted in comix, IRS, parody, video | Comments Off on Giving More Power To IRS