{"id":134066,"date":"2024-12-06T18:46:06","date_gmt":"2024-12-06T11:46:06","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=134066"},"modified":"2024-12-06T18:46:06","modified_gmt":"2024-12-06T11:46:06","slug":"billy-long-promised-huge-tax-refunds-now-trump-wants-him-to-lead-the-i-r-s","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=134066","title":{"rendered":"Billy Long Promised Huge Tax Refunds. Now Trump Wants Him to Lead the I.R.S."},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">When Billy Long, now President-elect Donald J. Trump\u2019s pick to lead the Internal Revenue Service, left Congress in 2023, he quickly set out to make money. Building off the relationships he developed as a Republican from Missouri and auctioneer, Mr. Long began encouraging people to file for a lucrative, pandemic-era tax credit.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">At meetings with chapters of Hispanic Chambers of Commerce across the country and at an auctioneering convention in Oklahoma, Mr. Long sometimes wore a hat advertising the Employee Retention Tax Credit as he tried to drum up business. Working with companies that would fill out the paperwork for the tax credit in exchange for a fee, Mr. Long had success.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cWhat\u2019s working for me is the trust factor because people know me,\u201d he said in a podcast interview last year about his work, describing clients who received tax refunds of more than $1 million. \u201cThey\u2019ve known me for 40 years in the auction business, or whatever they see me getting this money for their compadres,\u201d he added.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The money spigot would soon shut off. In September 2023, the I.R.S. <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2023\/09\/14\/us\/politics\/irs-pandemic-employee-credit-fraud.html\" title=\"\">temporarily stopped processing claims<\/a> for the credit, hoping to squash widespread fraud in the program. The tax break, aimed at supporting businesses that kept employees on payroll during the pandemic, had spawned a cottage industry of tax preparation firms steering people, including those who were not eligible for the credit, toward it. The I.R.S. began <a class=\"css-yywogo\" href=\"https:\/\/www.irs.gov\/newsroom\/irs-alerts-businesses-tax-exempt-groups-of-warning-signs-for-misleading-employee-retention-scams-simple-steps-can-avoid-improperly-filing-claims\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">warning people about scams<\/a> related to the tax credit, including firms that were \u201cwildly misrepresenting and exaggerating who can qualify for the credits.\u201d<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The fiscal cost of the tax refund bonanza was steep. What analysts had initially expected would be a roughly $55 billion program had ballooned into a $230 billion one, with projections that its cost could ultimately hit $550 billion.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Mr. Long, in the 2023 podcast interview, said he would help only clients who were actually eligible for the credit, and added that the fees he and his associates collected would be returned to any clients that had their tax refund revoked by the I.R.S. The companies he said he worked with \u2014 Commerce Terrace Consulting, which says on its website that it has provided $400 million in tax savings, and Lifetime Advisors \u2014 did not respond to a request for comment.<\/p>\n<div class=\"css-1336jj\">\n<div class=\"css-121kum4\">\n<div class=\"css-asuuk5\"><noscript><\/p>\n<div class=\"css-7axq9l\" data-testid=\"optimistic-truncator-noscript\"><svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" aria-hidden=\"true\" class=\"css-1b5b8u1\"><path fill=\"currentColor\" fill-rule=\"evenodd\" d=\"M2.5 12a9.5 9.5 0 1 1 19 0 9.5 9.5 0 0 1-19 0Zm8.5 1.75v-7.5h2v7.5h-2Zm0 2v2h2v-2h-2Z\" clip-rule=\"evenodd\"\/><\/svg><\/p>\n<div data-testid=\"optimistic-truncator-noscript-message\" class=\"css-6yo1no\">\n<p class=\"css-3kpklk\">We are having trouble retrieving the article content.<\/p>\n<p class=\"css-3kpklk\">Please enable JavaScript in your browser settings.<\/p>\n<\/div>\n<\/div>\n<p><\/noscript><\/p>\n<div class=\"css-1dv1kvn\" id=\"optimistic-truncator-a11y\" tabindex=\"-1\">\n<hr\/>\n<p>Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0<a href=\"https:\/\/myaccount.nytimes.com\/auth\/login?response_type=cookie&amp;client_id=vi&amp;redirect_uri=https%3A%2F%2Fwww.nytimes.com%2F2024%2F12%2F06%2Fus%2Fpolitics%2Fbilly-long-trump-irs-tax-credit.html&amp;asset=opttrunc\">log into<\/a>\u00a0your Times account, or\u00a0<a href=\"https:\/\/www.nytimes.com\/subscription?campaignId=89WYR&amp;redirect_uri=https%3A%2F%2Fwww.nytimes.com%2F2024%2F12%2F06%2Fus%2Fpolitics%2Fbilly-long-trump-irs-tax-credit.html\">subscribe<\/a>\u00a0for all of The Times.<\/p>\n<hr\/>\n<\/div>\n<div class=\"css-1g71tqy\"><svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" aria-hidden=\"true\" class=\"css-63woee\" data-testid=\"optimistic-truncator-spinner\"><g fill=\"currentColor\"><path d=\"M11.28 22.8a.72.72 0 1 0 1.44 0v-6.72a.72.72 0 1 0-1.44 0v6.72Z\" opacity=\".37\"\/><path d=\"M17.766 21.16a.72.72 0 1 0 1.165-.846l-3.95-5.436a.72.72 0 1 0-1.165.846l3.95 5.437Z\" opacity=\".26\"\/><path d=\"M1.506 14.653a.72.72 0 0 0 .445 1.37l6.391-2.078a.72.72 0 1 0-.445-1.369l-6.39 2.077Z\" opacity=\".61\"\/><path d=\"M5.07 20.314a.72.72 0 0 0 1.164.847l3.95-5.437a.72.72 0 1 0-1.165-.846l-3.95 5.436Z\" opacity=\".48\"\/><path d=\"M22.049 16.022a.72.72 0 0 0 .445-1.37l-6.391-2.076a.72.72 0 1 0-.445 1.37l6.39 2.076Z\" opacity=\".17\"\/><path d=\"M22.494 9.347a.72.72 0 1 0-.445-1.37l-6.391 2.078a.72.72 0 1 0 .445 1.369l6.39-2.077Z\" opacity=\".09\"\/><path d=\"M6.234 2.84a.72.72 0 0 0-1.165.846l3.95 5.436a.72.72 0 0 0 1.165-.846l-3.95-5.437Z\" opacity=\".87\"\/><path d=\"M1.951 7.978a.72.72 0 1 0-.445 1.37l6.391 2.076a.72.72 0 1 0 .445-1.37l-6.39-2.076Z\" opacity=\".74\"\/><path d=\"M18.93 3.686a.72.72 0 0 0-1.164-.847l-3.95 5.437a.72.72 0 0 0 1.165.846l3.95-5.436Z\" opacity=\".02\"\/><path d=\"M12.72 1.2a.72.72 0 1 0-1.44 0v6.72a.72.72 0 0 0 1.44 0V1.2Z\"\/><\/g><\/svg><\/p>\n<div data-testid=\"optimistic-truncator-message\" class=\"css-6yo1no\">\n<p class=\"css-3kpklk\">Thank you for your patience while we verify access.<\/p>\n<p class=\"css-3kpklk\">Already a subscriber?\u00a0<a data-testid=\"log-in-link\" class=\"css-z5ryv4\" href=\"https:\/\/myaccount.nytimes.com\/auth\/login?response_type=cookie&amp;client_id=vi&amp;redirect_uri=https%3A%2F%2Fwww.nytimes.com%2F2024%2F12%2F06%2Fus%2Fpolitics%2Fbilly-long-trump-irs-tax-credit.html&amp;asset=opttrunc\">Log in<\/a>.<\/p>\n<p class=\"css-3kpklk\">Want all of The Times?\u00a0<a data-testid=\"subscribe-link\" class=\"css-z5ryv4\" href=\"https:\/\/www.nytimes.com\/subscription?campaignId=89WYR&amp;redirect_uri=https%3A%2F%2Fwww.nytimes.com%2F2024%2F12%2F06%2Fus%2Fpolitics%2Fbilly-long-trump-irs-tax-credit.html\">Subscribe<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2024\/12\/06\/us\/politics\/billy-long-trump-irs-tax-credit.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When Billy Long, now President-elect Donald J. Trump\u2019s pick to lead the Internal Revenue Service, left Congress in 2023, he quickly set out to make money. Building off the relationships &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=134066\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8629],"tags":[],"class_list":["post-134066","post","type-post","status-publish","format-standard","hentry","category-u-s","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/134066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=134066"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/134066\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=134066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=134066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=134066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}