Laura Saunders
speaker
5,937 appearances
109 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Laura Saunders’s voice in public audio — every appearance, attributed to the second.
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Appearances
six years for many major issues.
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But there's a big but.
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The statute of limitations doesn't start until the return is filed.
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So if someone never files a return, the statute of limitations isn't running at all.
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And people should keep that in mind.
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The other thing is that the interest rates are rising because interest rates are rising generally.
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So as of October 1st, if you have an underpayment to the IRS, the interest rate is going to be 6%.
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Now, other quarters had lower interest rates, so you get a kind of a blended rate.
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But that's what people should know.
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I think it's important to note the new funding does not directly address the backlog.
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The backlog
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has a great deal to do with the pandemic because the IRS was asked to do so many other things like sending stimulus checks.
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And these returns that haven't been processed are almost all on paper.
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However, the IRS is trying to make progress on the backlog and Congress is really on this issue.
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This week, a group of 93 congressmen sent a letter to the IRS saying, when is this going to be solved?
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And I know that all parties would like it if the backlog were resolved by year end.
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When the market is lower, you are moving assets that have potential for appreciation, assuming the market goes up, into a tax-free account.
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Thanks for having me.
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Well, that's a good question to start with.
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A traditional IRA and a Roth IRA have one important thing in common, which is that the assets inside of them grow tax-free year to year.
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Showing 1161–1180 of 5,937 · page 59 of 297
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