Sanctions Against Russia "At The Ready"

The transcript covers potential sanctions against Russia, emphasizing coordination with European and Asian allies. It discusses the challenges faced by the IRS during tax filing season due to underfunding and the pandemic, and outlines plans for IRS modernization. The economic outlook for 2022 is positive, with a focus on expanding the labor market and addressing supply chain issues.

What was the main goal of the US and European allies in considering sanctions against Russia?

• To support Russian economic growth

• To ensure a significant impact on the Russian economy

• To increase trade with Russia

• To reduce European dependency on Russian energy

What is one of the potential measures discussed to impact Russia's economy?

• Providing financial aid to Russia

• Cutting Russia out of the SWIFT financial system

• Increasing oil imports from Russia

• Reducing tariffs on Russian goods

What has contributed to the IRS's challenges during the tax filing season?

• Decrease in tax filings

• Technological advancements

• Increased funding

• Pandemic and underfunding

How does the IRS plan to handle the backlog of tax returns?

• By hiring more employees

• By encouraging online filing and ensuring accurate information

• By extending the tax filing deadline

• By reducing the number of tax audits

What is the proposed $80 billion infusion for the IRS intended to improve?

• Public transportation

• Military spending

• IRS services, technology, and enforcement

• International relations

What percentage of Americans pay their taxes on time, according to the transcript?

• 95%

• 83%

• 50%

• 70%

What is one of the concerns related to the Federal Reserve's actions?

• Pushing the economy into a recession

• Increasing inflation

• Reducing employment opportunities

• Decreasing interest rates