4 • 1.1K Ratings
🗓️ 15 April 2025
⏱️ 29 minutes
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0:00.0 | On any given year, if you're an accountant, today is a busy day. |
0:09.7 | It's April 15th. |
0:11.3 | It's tax day. |
0:13.3 | But this year hits different. |
0:15.9 | One big change, Elon Musk's Department of Government Efficiency has already made its way through the IRS. |
0:23.6 | In the middle of a busy tax season, their workforce was diminished by 6,000 jobs. |
0:31.6 | America's tax-collecting agency has blown through three directors since Donald Trump became president again. |
0:38.5 | Not surprisingly, this chilling effect is resonating through the population to U.S. citizens. |
0:48.5 | That's Professor Francine Lippmann. |
0:51.3 | She's a tax law professor at the University of Nevada, Las Vegas. |
0:55.0 | We're hearing anecdotally from CPAs and enrolled agents that U.S. citizens are saying, |
1:03.0 | well, do I have to file taxes? And my understanding is the IRS is going to be eliminated |
1:09.0 | and replaced with tariffs. |
1:13.1 | When it comes to taxes, Professor Lippman has done everything. |
1:18.0 | She's worked as a CPA for an accounting firm, as a CFO for a business. |
1:22.8 | There was a stint in big law, two terms as Nevada's tax commissioner. |
1:30.8 | The resume is long. But for much of her career, she's made time for a group she calls unauthorized immigrants. One thing that I can say, |
1:37.9 | having worked with this group of individual taxpayers for two decades is that they treasure more than many U.S. |
1:49.8 | citizens their documents, meaning they have very close in hand their birth certificates, |
1:58.3 | often their passport, their other documents from their home country, including |
2:05.7 | they treasure any driver's license or other picture ID. |
2:11.7 | So they have documents. |
... |
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