As many of you are aware, the Internal Revenue Service (IRS) is floating a proposal in Congress that seeks to increase taxpayer compliance by having financial institutions report additional account holder information. The IRS has indicated they believe this would result in approximately $460 billion in revenue being collected over a 10-year period that otherwise would not be collected.
These dollars would be used to offset a portion of the cost of the $3.5 trillion human infrastructure bill currently under consideration. At the moment, this is still just a proposal and it would need to be incorporated into legislation, passed by both chambers of Congress, and signed into law by the President before it could become reality and implemented by the IRS.
These dollars would be used to offset a portion of the cost of the $3.5 trillion human infrastructure bill currently under consideration. At the moment, this is still just a proposal and it would need to be incorporated into legislation, passed by both chambers of Congress, and signed into law by the President before it could become reality and implemented by the IRS.
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Have your entire payroll, Social Security, or Pension check directly deposited at MPECU with direct deposit. Or you may have just a portion of your check deposited with payroll deduction. Investing in this account is one of the wisest moves you could make to prepare for a comfortable retirement. MPECU offers Hartford Life and Accident Insurance.
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Mason Koffman
Nov 16, 2020
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