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With the U.S. Government shutdown and the ongoing IRS Commissioner turnover – what does this mean for taxpayers this filing season and beyond? Join Tom Wheelwright as he explores how to best navigate through the chaos with guest and former IRS Commissioner, Danny Werfel.
Danny Werfel served as the 50th Commissioner of the IRS. As Commissioner, he presided over the nation’s tax system and oversaw an agency of about 85,000 employees. Commissioner Werfel has a range of experience inside and outside of government. Prior to becoming Commissioner, he was the global leader of Boston Consulting Group’s (BCG) Public Sector practice. Previously, he was the leader of BCG’s Public Sector practice in North America. In these roles, he worked with government agencies worldwide on finances, service delivery, transformation plans and risk-assessment initiatives.
In this episode, gain valuable insight into the current state of the IRS, the plans that are attainable with the right leadership, and how entrepreneurs can best prepare with their tax professionals for what lies ahead.
Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
00:00 – Intro.
03:08 – Window inside the Commissioner’s office.
08:00 – New Role of the CEO.
14:55 – Chaos amidst filing season.
17:46 – No more refund checks.
22:10 – IRS Customer Service.
27:00 – Technology & Modernization.
32:45 – How taxpayers can navigate.
35:50 – Closing Statements.
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ABOUT US:
Tom Wheelwright is the founder and CEO of WealthAbility and TFW Advisors, a leading authority on tax strategy and wealth building. He is the best-selling author of Tax-Free Wealth and a trusted advisor to Robert Kiyosaki. As a world class CPA, Tom is dedicated to empowering entrepreneurs and investors to reduce their tax burden and achieve financial freedom. He currently resides in Phoenix, Arizona.
DISCLAIMER:
WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
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Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker’s personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.
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26 Comments
Stable genius at the helm and his idiotic minions chiming in to shut it down not realizing that we need to fund government some way. Don’t like the way it’s funded or how funds are spent honest debate but “shut it down” really childish and ignorant.
Focus on getting that organized peace hiring but screening agree technology organized
You guys are planning and playing a fair game you have factor mercury your schemers silver you. Don't let take advantage must have instant arrests make example ET already moving on this silver managers back tough but wise uranium bah no corruptible dogs dragons banks screen ox no boar yes
Bottom line the old irs does not benefit the bankers. When the system benefits the entitlements to the people that are domestic on the land and for the land and have taken over executorship of yheir estate the govt shuts down to think tank a new plan against we the people
What on Earth is the purpose of this video? It's basically a sympathetic take on the poor, dreaded IRS.
Customer service? Who's the customer?
Patriotic duty to pay because Congress says so?
What can the IT systems do to efficiently steal and catch the poor customers?
These people are complete shills!
I am so glad the Republicans are fixing the problem and not the democrats
America…. not a dumbocracy
The IRS loses everything. I have sent in many tax returns with certified mail return receipt, plus tax over on a fax app the return and copy of return receipt mailed back to me received and they still lose it and I have to show them the receipt. This has happened several times lol. I wish we could just upload or digitally submit older returns older than two years. It’s needs to update their technology
Shut it down.
Do away with that shit
SHATTERING THE MYTH
DAVE CHAMPION
F THE IRS
IRS ACCEPTS BILL OF EXCHANGE
HOW CAN YOU TAX CURRENCY PRINTED OUT OF THIN AIR
Never in one hundred twenty years HAVE AMERICANS EVER EVER NEEDED FILE ANYTHING PER THE TREASIRY DEPT
We gonna fly soon! he says every month. And mevolaxy already flying long time without their screams.
The one thing I have yet to hear from a Commissioner is why do we need the IRS. They will probably start spewing stuff about to manage and head off booms and busts, needing people's income to pay for valuable infrastructure and stimulate the economy, etc etc. Then ask how it worked for almost 140 before the IRS was created. We had booms and busts before the IRS and have had them afterwards so it doesn't seem like they are doing the job that it's creation was meant to tackle and solve. Why did the economy work back then and how is it that we were beginning to ramp up as a major power it's creation so it wasn't needed? I'd like to have a nationally televised interview/debate on just those questions.
Fair tax.
What has trump done for you? How has he changed your life for the better?
why would any taxpayer want a "more efficient" IRS???
We are unwilling customers who are dealing with the IRS under Duress. Let’s stop acting like the IRS actually cares about good customer service 🙄
Danny was the head theif in charge
This entire conversation seems to hinge on the assumption
that the IRS is a 'legitimate' institution.
The IRS is an Agency of the FED, which is also an UnConstitutional
creation and 'attachment' to the Government. A privately owned NGO.
I agree, an inefficient IRS in chaos is the best thing to happen to all taxpayers. And yes, shut it down!
Go to a new system, a flat tax etc.. something thay is done through consumption only.
They know the truth, the income taxes is an indirect excise tax, NOT a direct nonapportioned tax. People already knew the 16th Amendment did not create an unapportioned income tax on private sector labor workers, but the government kept lying about it. A lot of people are asking for there money back via paper returns. Now the whole system is in shambles. Read Moore v United States 2024, their lie has been exposed.
When I hear the corrupt IRS is in disarray that’s makes my day. Shut this debacle down!!