So Trump is planning to get rid of the IRS and income taxes, will this collapse the tax practices of accounting firms in his administration?

likefunnysmart
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Just wait for him to find the next squirrel. All Big hat no cattle.

likefunny

I kind of doubt that he’s going to be able to pull off axing income tax altogether. I do think we’ll see an extension and expansion of TCJA though, more changes, more work for CPA firms. If somehow we actually do see income tax go away, there will still be plenty of work to do in the SALT arena, states will still require provisional federal returns, but I really can’t imagine a world where it happens.

likesmart

Thanks A1 for the informative reply, I work in audit but i’m glad to know our tax people will be okay in the new administration.

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certainly, since trump is known for his precise speech, commitment to literal interpretations, and lack of exaggeration

likefunnyhelpful

Yes, the guy who said billions of Guatemalans are attacking the Lincoln memorial has a concept of a plan to get rid of the IRS.

likefunny

Wait so the Guatemalans are also Palestinian??

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Trump won the popular vote, the electoral college, the senate, EVERY swing state, and the probably the house. And the media told you that it would be a close race 😂 they should be embarrassed for their blatant lies and bias. Sorry you were misled and lied to. Just turn off CNN and life will be ok.

likefunny

It wasn’t a close race? It was one of the closest in a long time based on popular vote

likefunny

Jesus, turn off the television for Christ sake.

likefunnysmart

Too many ripple effects will happen if income taxes are gone. For example, the stock market is propped up on 401ks which are largely pre-tax

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Where did you see he is planning to get rid of income taxes and the IRS?

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If I remember correctly it was in the project 2025 documents how much of it will be followed who knows

Republicans will certainly decimate their funding and hiring.

likesmart

Fake news

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Lol!
There are 2 certainties: death and taxes (scaling back IRS overreach is far from "eliminating" the IRS).
Where are people getting three outlandish ideas of what Trump plans to do??

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exactly, joe rogan is equivalent to Meet the Press these days

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Never gonna happen

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elon's business interests appear to be doing ok..

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It's a hoax!

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