It’s no secret that the IRS is underfunded right now. It takes most taxpayers months to receive refund checks, and most would rather go to the dentist than wait on hold to talk with the IRS. Our guest this week is Tom Nally, who’s recently launched TaxNow to help taxpayers and their professionals navigate this landscape. The platform syncs up with the IRS database and simply notifies you when there are updates to your account. It’s a sorely needed tool, and Tom walks us through what he’s built and how the launch has gone.

We also cover an article about Trump’s interest in allowing the sitting president more control over monetary policy and summarize a volatile week in the markets.

 

Show Notes

[03:22] Market Update – What changes occurred in the market last week?

[07:54] Article of the Week – The Wall Street Journal’s article on the importance of the Federal Reserve to remain free of political influence.

[17:10] Tomas’s journey – Tomas’s professional background and what led him to launch TaxNow.

[23:00] Transcripts – Tomas explains the three major types of tax transcripts.

[28:47] The Process – The process of obtaining tax transcripts.

[34:25] TaxNow – The services that TaxNow provides for taxpayers.

[40:36] Product launch – Tomas explains how they launched TaxNow in the first quarter of 2024.

[46:21] Feedback – Tomas shares what kind of feedback they have received since the launch of TaxNow Pro in May 2024.

[50:22] Pricing – Tomas explains how TaxNow pricing works.

 

 

Resources

Connect with Tomas Nally

LinkedIn – linkedin.com/in/tomasnally/

Website – taxnow.com/

 

Trump’s Plans Stir Fears for Fed Independence, Inflation

wsj.com/politics/elections/trumps-plans-stir-fears-for-fed-independence-inflation-689bc113