Monthly Archives

August 2020

IRS Identification Verification Letters – A Scam or For Real?

A lot of our clients have been receiving these IRS Identification Verification notices. Some of these clients have even paid taxes and are wondering "Is this for real; is this fraud?" And if you get one, what should you do about it? So if you get one of these letters and you are owed a refund, you need to ask CPA if the letter appears legit. You can do it online, and we'll include a link at the bottom of this blog post. Or you can call the number on the letter. Something you need to know is the IRS will never call you. So if you have received a call from the IRS, you can pretty much assure it's fraud. And if you are concerned about fraud, with the letter, another thing you can do is you can Google the phone number that's on the letter. If it's the...
Read More

How Will This Election Year Affect the Markets?

How will the presidential election impact the markets? There's a lot of concern out there. Every four years, I feel like I have the same video. Though this one is a little different. Every four years there's this concern over markets. Democrats are afraid of what happens if the Republicans win; Republicans are afraid of what happens if the Democrats win. But as you'll see in the attached chart, markets clearly don't care who's going to win the election. Possibly a more accurate statement is markets are fairly good at discounting the election outcome. Given how close we are to the election right now, it's increasingly likely the markets have already priced in the outcome. What's interesting though, is politics and economics and the markets all tend to live in separate parallel universes. In many cases, they are totally uncorrelated. This election is particularly heated. There's a deadly pandemic you...
Read More