MIchelle C Herting CPA, ABV, AEP

09/09/2025

Oopsie

The Internal Revenue Service has hit taxpayers with over $162 million in penalties for claiming fraudulent tax credits touted on social media.

08/26/2025

https://www.accountingtoday.com/news/billionaires-saw-lower-effective-tax-rates-than-most-of-us?utm_campaign=NL_ACT_Tax_Pro_Today_08262025&position=1&utm_source=newsletter&utm_medium=email&campaignname=NL_ACT_Tax_Pro_Today_08262025&oly_enc_id=8686A7296156D7S

The total effective tax rate for the 400 wealthiest Americans was lower than the general population, according to a new study.

08/19/2025

The jaws of stagflation are wide open, per Bloomberg:

08/12/2025

You might want to make sure your medication is not on the list.

ProPublica identified more than 150 products that were exempted from import bans since 2013. Our list provides the names of the drugs or ingredients and their manufacturers, many of which are no longer banned.

08/08/2025

The IRS has had 7 so far this year.

They can't govern. Chaos.

President Donald Trump has removed former U.S. Rep. Billy Long as IRS commissioner less than two months after his confirmation, a White House official said Friday. Treasury Secretary Scott Bessent will serve as acting commissioner, the official said. The Senate confirmed Long on a 53-44 vote despite...

08/06/2025

We lowered taxes on the wealthy. It didn’t trickle down. It didn’t lower prices.

This chart gets even crazier when you realize that trickle-down economics started around 1986 and hasn’t really been addressed since.

08/05/2025

Inheriting money is one thing; keeping it is another

07/20/2025

https://www.ctinsider.com/business/article/julie-jason-inheritance-tax-irs-20774563.php

Using the IRS tool can help, but it won’t answer all your questions. It's best to work with a lawyer in the end.