Tuesday August 23, 2022 – Cryptocurrency has been all the rage since Satoshi Nakamoto’s famous Whitepaper “Bitcoin – a Peer to Peer Electronic Cash System.” Turns out, that famous whitepaper was really about the Blockchain.

Now, I’m not discounting Cryptocurrency – it has already changed the world – with much promise remaining. But, it sure looks like Blockchain Technolgy is leaving Crypto behind.

Blockchain is changing the Web (Facebook and Twitter will soon be obsolete thanks to blockchain technology), Insurance (Blockchain in Insurance: How Will it Change the Industry?), transportation (How blockchain can fix the transportation menace”, and Banking (Wall Street Bankers Tap Blockchain Use Beyond Crypto) – and those are just today’s stories.

Attorney Steven A. Leahy takes a look at how Blockchain is chang9ng how we do busiess in every sector.

https://cointelegraph.com/news/facebook-and-twitter-will-soon-be-obsolete-thanks-to-blockchain-technology

https://www.financialexpress.com/digital-currency/how-blockchain-can-fix-the-transportation-menace/2640456/

https://www.pymnts.com/blockchain/2022/wall-street-bankers-tap-blockchain-use-beyond-crypto/

https://www.americanactionforum.org/insight/tracker-crypto-and-fintech-developments-in-the-biden-administration/

Thursday August 18, 2022 – Congress has awarded the IRS $80 Billion! It’s like winning the lottery! The recent problems with the IRS are well known: Huge backlog of tax return processing, delays in issuing refunds, answering only 1 in 9 phone calls, accusations of political bias, cybersecurity incurrsions, privacy breeches, and on and on.

Will this monumental infussion of cash solve all of those problems. That is the question Americans should be asking. We already fund the IRS to a tune of nearly $14 Billion a year. That aint hey. It’s not like they aren’t funded. Have you EVER heard a United States Government Agency say they are adequatley funded?

There are those already saying this IRS increase is not enough…the IRS needs more!

Attorney Steven A. Leahy looks at the IRS as it stands and asks the question – Will $80 Billion Fix the IRS? on Today’s Tax Talk.

https://www.bloomberg.com/opinion/articles/2022-08-17/the-irs-has-problems-that-80-billion-won-t-solve

https://www.foxnews.com/media/wapo-fact-checker-glenn-kessler-claims-gop-preying-voters-fear-irs-twitter-lights-him-up

Wednesday August 17, 2022 – Well, President Bident signed the Inflation Reduction Act into law yesterday. The IRS just received an additional $80 Billion dollars over the next 10 years – a 75% increase in the IRS budget. Did you know the IRS budget, after all supplemental funding is close to $14 Billion dollars already!

Treasury Secretary Janet Yellen promised “these investments will not result in households earning $400,000 per year or less or small businesses seeing an increase in the chances that they are audited relative to historical levels.”

IRS Commissioner Charles Rettig have promised “These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans”

Attorney Steven A. Leahy measures these promises with the facts on Today’s Tax Talk.

https://mycbs4.com/news/nation-world/fact-check-team-how-the-irs-expansion-could-impact-middle-class-americans-new-spending-bill-provides-80b-to-irs-for-enforcement-audits-on-high-income-taxpayers-irs-expansion-democrats-reconciliation-bill-will-add-87000-employees-to-irs-to-improve-efficie

https://finance.yahoo.com/news/dont-worry-about-a-beefier-irs-unless-youre-a-tax-cheat-202620223.html

https://news.yahoo.com/yellen-eyes-80b-boost-monumental-151335732.html

https://www.cnbc.com/2022/08/08/reconciliation-bill-includes-nearly-80-billion-for-irs-funding.html