EPISODE 7. Check Washing Fraud & paying taxes. GAO audits the IRS’ 2022 Tax Season Operations. Los Angeles has a new Mansion Tax coming soon to solve their homeless crisis Artwork

Taxcast With Chelsea

Welcome to Taxcast with Chelsea: My background ranges from corporate finance, small business accounting roles, and now serving clients in a tax advisory role. While I enjoy researching and resolving tax issues for clients, I understand not everyone has the same tax resources and the information online can be overwhelming. My goal is to provide tax understanding to the everyday taxpayer. Taxcast with Chelsea is not legal or tax advice for your personal tax situation. My views are my own and am only speaking from a tax practitioner’s perspective for the general understanding of tax topics. I highly recommend you engage with an experienced tax professional if you are looking for personal tax advice. https://www.irs.gov/pub/irs-pdf/pcir230.pdf

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Taxcast With Chelsea

EPISODE 7. Check Washing Fraud & paying taxes. GAO audits the IRS’ 2022 Tax Season Operations. Los Angeles has a new Mansion Tax coming soon to solve their homeless crisis

December 29, 2022 • Season 2022 • Episode 7

Merry Christmas! Today I’m going to review these 3 topics:

1. Check Washing Fraud – What is it and why the millennial's case for making payments for taxes online isn’t so bad. [:49}

2. The GAO takes a look at the IRS’ 2022 Tax Filing Report. No surprise here but they found Backlogs, Hiring Challenges, Poor Customer Service & Refund Delays [5:57]

3. LA has a new Mansion Tax coming next Spring to solve their homeless crisis. Will they reach their revenue goals and work as planned? Perhaps… but some are already figuring out how to work around it. [14:20]

Links

· https://www.tigta.gov/articles/investigations/washington-woman-sentenced-her-role-negotiating-stolen-treasury-checks
Source: The facts in this case narrative come from the following publicly available documents: W.D. Wash., Indict., filed Feb. 9, 2022; W.D. Wash., Arrest Warrant issued on Feb. 9, 2022; W.D. Wash., Plea Agr., filed July 20, 2022; and W.D. Wash., Judgment filed Oct. 28, 2022.

· https://www.uspis.gov/news/scam-article/check-washing

· https://www.tigta.gov/articles/investigations/california-man-sentenced-his-role-negotiating-stolen-treasury-checks

· https://www.gao.gov/assets/gao-23-105880.pdf

· https://www.cpapracticeadvisor.com/2022/12/15/how-the-rich-in-l-a-are-trying-to-avoid-new-mansion-tax/74862/

· UCLA. "An Analysis of 'Measure ULA' A Ballot Measure to reform Real Estate Transfer Taxes in the City of Los Angeles". September 2022. https://www.lewis.ucla.edu/research/an-analysis-of-measure-ula-a-ballot-measure-to-reform-real-estate-transfer-taxes-in-the-city-of-los-angles/#:~:text=This%20white%20paper%20analyses%20Measure,typically%20paid%20by%20the%20seller

· https://www.latimes.com/california/story/2022-11-12/lopez-column-citizens-led-the-way-on-la-homelessness-tax-measure#:~:text=The%20measure%20calls%20for%20a,buildings%20and%20other%20multifamily%20residences.

· https://www.movela.org/measure_ula

Connect with Chelsea:
Email: taxcastwithchelsea@proton.me
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**DISCLAIMER**
Taxcast with Chelsea is not legal or tax advice for your personal tax situation. My views are my own and I am only speaking from a tax practitioner’s perspective for the general understanding of tax topics. I highly recommend you engage with an experienced tax professional if you are looking for personal tax advice.
https://www.irs.gov/pub/irs-pdf/pcir230.pdf