IRS: “No More Door Knocks”

By Staff Reporters

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 The IRS will not come to the front / back door 

The tax agency will no longer make unannounced visits to taxpayers’ homes or businesses to collect payments due (in most cases). The IRS said it was halting the controversial practice, which has been around since at least the 1950s, to protect its agents’ safety.

Instead, the agency will send letters requesting that the taxpayer schedule an appointment. In specific cases, such as to deliver a summons or subpoena or seize assets, an unannounced visit may still occur, but there are only a few hundred of those each year compared to tens of thousands of the more routine visits, according to Reuters.

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Recession, Interest Rates and Earnings?

By Staff Reporters

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Recession: Last October, economists surveyed by Bloomberg were predicting a 100% chance of a Recession. But currently, the Dow is riding a 10-day winning streak, and the S&P 500 is just over 5% away from its all-time high. This week, Wall Street will be glued to the Fed’s interest rate announcement and a heavy slate of earnings.

Final Fed rate hike? The Federal Reserve will likely announce another interest rate increase this week, but this could be the final hike in its 16-month quest to bring down inflation. If the Fed hikes 25 basis points as expected, interest rates would be at their highest level since 2001.

Earnings galore: Corporate America’s A-list will report Q2 earnings this week, including Meta, Alphabet, Microsoft, McDonald’s, Coca-Cola, and Exxon Mobil. In all, about one-third of companies in the S&P 500 will give financial updates over the next five days, so we should get a good look into the health of a bunch of different industries.

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PODCAST: Why Doctors Select Alternative Insurance Payment Networks

DIRECT CONTRACTING

By Eric Bricker MD

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