KPC Smart Money

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Each week, Karin and Kevin Christ will look at important issues about financial planning. They will use their experience as independent financial advisors to help leave you smarter and more informed about retirement.

Kevin and Karin Christ


    • Apr 10, 2025 LATEST EPISODE
    • every other week NEW EPISODES
    • 12m AVG DURATION
    • 158 EPISODES


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    Latest episodes from KPC Smart Money

    Episode 158: Investing 101 - A Beginner's Guide

    Play Episode Listen Later Apr 10, 2025 11:18


    Many people feel inadequate or even fearful about investing.  We find it is just a lack of understanding on how it works, or a fear of losing money.  You need investments in order for your money to outpace inflation and to make your money work for you.  Today we will go over the basics. If you want help with investing, you can always reach out to us at KPCFinancialSolutions.com.Key Takeaways:Investing means your money can make you more moneyCommon Types of InvestmentsRisk & DiversificationHow to get started

    Episode 157: Midlife Money Reset - If You Didn't Learn the Basics Growing Up

    Play Episode Listen Later Apr 4, 2025 12:50


    We encounter people frequently that say their parents weren't good at money and so they never learned how to manage their finances.  If this is you, or you wnat to make sure you know the basics of financial planning, this podcast is for you.  It is never too late to learn and take control of this important aspect of all of our lives. Next week will we go over investment basics.Key Takeaways:Never too lateBudgetingSavingDebt

    Episode 156: Wealth Building Habits

    Play Episode Listen Later Mar 20, 2025 13:41


    Wealth isn't just about making money, it is about how you manage it.  We will share 5 habits of successful people that can put you on the path to financial freedom.  These habits are repeatable, and very powerful when done consistently.Key Takeaways:Pay yourself firstLive below your meansInvest consistentlyBuild multiple income streamsKeep learning and networking

    Episode 155: Why Buy Gold

    Play Episode Listen Later Mar 13, 2025 12:51


    I'm sure you've seen the TV ads to buy gold and silver.  Is this a good idea?  Many people own physical gold and silver, and some have stock market investments in precious metals.  But why buy gold or silver?  Today we talk about 8 reasons gold has been owned today and in the past. Key Takeaways:Gold has intrinsic value and has been used as money for thousands of yearsGold can be a safe haven during turbulent timesDiversification of investments - generally not to exceed 10-15% of total wealthWe like pre-1933 coins

    Episode 154 - Importance of Designating Beneficiaries

    Play Episode Listen Later Feb 20, 2025 14:07


    What could happen if you don't keep your beneficiaries up to date on all of your assets?  Today we are talking about why it is important to always verify your beneificiaries when there is a life change, and periodically to have confidence when you are gone that your money goes to those you intended.Key takeaways:Regularly review and update your beneficiaries on ALL assets: bank, investment & retirement accounts, insurance productsDo you know the differences in how beneficiaries are paid out depending on the type of investment?Life events: marriage, divorce, new children and grandchildrenSome real life stories of what can go wrong

    Episode 153 - Digital Currency

    Play Episode Listen Later Feb 13, 2025 11:30


    Is Digital Currency here to stay?  And if so, what is it and what are the benefits and drawbacks?  The two primary supporters of digital currency are banks and the government. This week learn some of the basics on digital currency.Key Takeaways:What is digital currencyHow is it different if offered by financial institutions vs governmentsIs digital currency here to stayHow will it effect you?

    Episode 152 - Effects of the Election

    Play Episode Listen Later Feb 6, 2025 12:32


    We will talk about some of the tremendous changes we have seen in just one week of the new Presidential Administration. What is being implemented that can reduce the troublesome federal debt and bring American back to a solid future.Key Takeaways:Increasing revenue with energy and tariffsDOGE - can it bring down unnecessary government spendingGovernment regulations setting businesses free to flourishImpact on taxes and inflation

    Episode 151: Tax Free Retirement with Fixed Indexed Universal Life (FIUL)

    Play Episode Listen Later Jan 30, 2025 13:13


    How can you create tax free income and legacy for retirement?  One of the most powerful tools is unfortunately not talked about enough.  It is called Fixed Indexed Universal Life, and it has multiple benefits both while you are living and when you are gone.Key Takeaways:Build tax free cash valueSurviving spouse tax free income replacementLong Term Care benefitsTax Free death benefit for your heirsNot included in assets for college planning and the FAFSA

    Episode 150: Your Investment Risk Tolerance

    Play Episode Listen Later Jan 23, 2025 13:17


    We all have a risk tolerance - how much risk td you want to take for the commensurate reward? In stock market investing, risk is defined by 5 categories.  Today we explain each category and debunk some of the myths that it is based only on age.Key Takeaways:ConservativeModerately ConservativeModerateModerately AggressiveAggressive

    Episode 149: New Years Resolutions 2025

    Play Episode Listen Later Jan 16, 2025 12:44


    January is historically the time to make resolutions to improve our lives.  Unfortunately, about 90% of people will not be able to keep their resolutions.  Today we will talk about making small steps that can become permanent habits.Key Takeaways:Increasing physical fitness without a gym membershipSimple weight loss techniquesWritten goals for faith, family, work and health

    Episode 148: Financial Tips for College Students

    Play Episode Listen Later Aug 8, 2024 11:27


    There are a lot of financial things college students are not necessarily prepared for when they head to college. If you are a student or have a loved one that is starting college, share these tips and help them avoid some of the financial surprises that college can bring. Key takeaways: Know about student aid, borrowing and college savings plans Take advantage of student discounts, scholarships, and other available money When and how to repay student loans Prepare for emergencies 

    Episode 147: Passive vs Active Investing

    Play Episode Listen Later Jul 25, 2024 12:04


    Have you heard about Passive and Active Investing and wondered what that means?  Today we will explain what these are and the pros and cons of each investment philosophy. Key takeaways: Is modern portfolio theory relevant today Poor Performance of Bonds Active Investing algorithms better on downside than upside Diversification in and out of the stock market

    Episode 146: Get Rid of Your Ticking Tax Bomb

    Play Episode Listen Later Jul 18, 2024 12:48


    Ed Slott is a CPA and one of my favorite experts on all things tax related.  If you have deferred accounts like 401k, 403b, 457, or IRAs you have a ticking tax bomb. Looking over your entire retirement and where government spending is, our expectation is that there will be some high taxes coming again in the future. Your IRA is an IOU to the IRS! Key takeaways: 401k distribution/rollover biggest check you may ever get What should you do with it? Diffuse this ticking tax bomb Worst asses to leave your beneficiaries

    Episode 145: Money Lessons for Your Kids

    Play Episode Listen Later Jun 28, 2024 12:42


    Teaching your kids about money depends on you, the Parents. We want to share some of the money lessons we learned from our Fathers in honor of Father's Day and share some practical lessons you can teach your children or grandchildren.  You have the opportunity to set you children up for a successful financial life with these lessons. Key takeaways: Children will value what they earn more than what is given to them Teach Your Kids how to Lose Money The power of compounding when you start early The spending acid test - 3 questions Teach Your Kids to Give to Others

    Episode 144: Family Fun on a Budget

    Play Episode Listen Later Jun 21, 2024 12:29


    Are you looking for fun things to do with your children or grandchildren that are budget friendly?  This week we share no and low cost indoor activities, outdoor activities and educational and community activities. Key takeaways: Use resources like Pinterest to help you with ideas Look at options near where you live Join groups that can help with planning fun outings Fun doesn't have to cost a lot of money

    Episode 143: Summer Jobs for Kids

    Play Episode Listen Later May 31, 2024 14:03


    Teaching children to make and save money can start as young as kindergarten and should be a skill that is learned long before they leave the nest.  Today Kevin and I will talk about some fun ideas for children to make some money over the summer.  And what important skills they will learn. Key takeaways: K - 3rd grade - Lemonade Stands & Chores 4th-7th grade - Babysitting, Mother's Helper or Pet Sitting 9th - 10th grade - Tutoring, gardening, house maintenance 11th - 12th grade - Retail jobs, freelance work

    Episode 142: Rainy Day Funds

    Play Episode Listen Later May 24, 2024 12:11


    Financial rainy days will come, are you prepared?  Today we talk about how and why you want to have a rainy day, or emergency fund.  We believe everyone should have one.   Key takeaways: Unexpected expenses like repairs, medical and other bills Avoid debt, use savings Job or Income disruption Financial security & freedom

    Episode 141 - Happy Mother's Day 2024

    Play Episode Listen Later May 9, 2024 15:41


    Being a Mom is the most important "job" in life.  It is the most fulfilling, and sometimes heart wrenching, thing you will ever do.  Moms makes tough decisions and choice all the time.  Today we want to celebrate all Mother's and thank you with all our heart. Key takeaways: Moms have many varied roles and responsibilities Stay at home and working Moms Mom's are learning as they go and yet teaching their children at the same time Use all the resources available to you - Mom groups, books, your own Mom  

    Episode 140: Finances for People Getting Married Part 2

    Play Episode Listen Later Feb 15, 2024 12:34


    You are getting married and your life is going to change in many ways.  An often-overlooked topic however is finances, yet it is one of the top reasons for marital stress. Here are our thoughts on what to discuss and plan for when you are getting married. Key Takeaways: Wedding budgets & expectations The wedding is just the first day of the rest of your life Common or Community property state Taxes in Marriage

    Episode 139: Finances for People Getting Married Part 1

    Play Episode Listen Later Feb 8, 2024 13:54


    You are getting married and your life is going to change in many ways.  An often-overlooked topic however is finances, yet it is one of the top reasons for marital stress. Here are our thoughts on what to discuss and plan for when you are getting married. Key Takeaways: Do you know your partner's income, debt, spending habits and credit score? Do you plan on merging finances or keeping them separate? What will your new household budget be? What are your attitudes towards saving and spending?

    Episode 138: Creating Dividend Income Part 2

    Play Episode Listen Later Feb 2, 2024 13:00


    Generating income from dividends isn't just for retired people.  It is a great strategy to have in your investment portfolio.  But what companies should you invest in and how to you set up a diversified dividend portfolio? We will answer these questions as well as talk about the taxation of dividends versus interest on this week's show. Key Takeaways: Reinvest the dividends or take as income High Yield versus growth Be prepared for Volatility Be diversified

    Episode 137: Creating Dividend Income - Part 1

    Play Episode Listen Later Jan 25, 2024 13:16


    Generating income from dividends isn't just for retired people.  It is a great strategy to have in your investment portfolio.  But what companies should you invest in and how to you set up a diversified dividend portfolio? We will answer these questions as well as talk about the taxation of dividends versus interest on this week's show. Takeaways: What are dividends? How to Build a dividend paying portfolio What types of dividend paying stock to look for

    Episode 136: Financial Planning Tips for New Parents - Part 2

    Play Episode Listen Later Jan 18, 2024 14:00


    In this 2 part series we talk about some of the important financial decisions when becoming new parents.  There is so much that will change as you prepare and learn about parenthood and the financial aspects can be ignored or dropped.  Listen in today to find out what financial steps are important no this new journey in your life. Takeaways: Tax Breaks for Parents Update Tax Withholdings Start saving for College Childcare Find a Financial Planner or Take Some Classes

    Episode 135: Financial Planning Tips for New Parents - Part 1

    Play Episode Listen Later Jan 11, 2024 12:34


    In this 2 part series we talk about some of the important financial decisions when becoming new parents.  There is so much that will change as you prepare and learn about parenthood and the financial aspects can be ignored or dropped.  Listen in today to find out what financial steps are important no this new journey in your life. Takeaways: Employer and State options for income while on maternity leave Budget and Spending Plan Life & Disability Insurance Emergency and Retirement Savings Create or Update Your Will

    Episode 134: Is $1Million Enough to Retire

    Play Episode Listen Later Jan 4, 2024 11:46


    Have you heard the saying "If you have a million dollars saved in retirement, and just withdraw 4% you can retire"?  Today we talk about how that doesn't always work.  The key to retirement is spending.  And you want to have enough to cover not just your retirement budget but also your fun stuff, health care, taxes, lifestyle, and downturns in the stock market.  So, what do you really need? Call us for a complimentary Retirement Blueprint. Key Points: What is your spending? Do you have money set aside for fun and lifestyle? Do you have tax free income in retirement? What about increasing health care costs as you get older?

    Episode 133: Avoid Christmas Overspending

    Play Episode Listen Later Nov 16, 2023 12:18


    Have you ever overspent at Christmas and had big credit card bills in January?  That can take some of the fun out of gift giving at Christmas and can hurt your financial plans.  Here are some ideas to keep Christmas spending down. Key takeaways: Secret Santa - one gift per adult Kids don't need lots of expensive toys Love is about your time & affection, not gifts Write "You are Special because" letters

    Episode 132: Our Christmas Traditions

    Play Episode Listen Later Nov 9, 2023 13:05


    We all have family Christmas Traditions, and they change over time and as we and our children build traditions of their own.  This week we share some of our family traditions.  Enjoy! Key takeaways: Our Christmas Meals - then and now Family Gift Giving Christmas decorations Family Gatherings

    Episode 131: What About Gold and Silver?

    Play Episode Listen Later Sep 14, 2023 13:10


    As the economy is experiencing inflation and recession and the stock market is volatile, people are asking about whether adding gold and silver to their investments is a good idea.  You need to watch out for certain things when buying gold and silver.  And determining whether it is a good idea for you. Key Takeaways: Do you due diligence on who is selling gold/silver products Watch out for fear tactics and high commissions Wealth protection Pre 1933 coins - what are they and why are they unique

    Episode 130: Inflation Tips

    Play Episode Listen Later Sep 7, 2023 14:17


    Many people are wondering what can I do financially to survive the current inflation.  Today we are going to talk about causes of inflation and how to protect your savings.  This is an important conversation that effects all of us. Key Takeaways: What causes inflation Demand pull, cost push and money supply Reduce or delay discretionary & large purchases Some tips for making additional money

    Episode 129: Money Wisdom for Kids

    Play Episode Listen Later Jul 6, 2023 12:11


    Are you talking about money with your children or grandchildren?  Unfortunately, many parents are not talking about money with their children, and just leaving it up to them to figure out how to be financially responsible adults someday.  Today we talk about 7 ways to start a money conversation so you can share your wisdom on what and what not to do. Key takeaways: Saving money & delaying purchases What to do if someone asks to borrow money What would you tell your younger self if you could One thing you bought that you regret Financial Basics - Use AE Creative "Five Retirement Planning Missteps" http://downloads.financial-resources.org/books/wrby/#p=4 

    Episode 128: Clean Your Financial House

    Play Episode Listen Later Jun 1, 2023 13:35


    Just like you might spring clean your home, you can clean your financial house.  This week we will give you tips on how to reduce your financial clutter. Just like spring cleaning, these are good habits to develop on a regular basis. Key takeaways: Purge the Paper and Get Digital Backup Consolidate Accounts Automate Savings Check your Financial Goals Will You Have Enough Income in Retirement? http://downloads.financial-resources.org/books/xtbx/#p=1 

    Episode 127: How to Weather a Recession

    Play Episode Listen Later May 25, 2023 12:41


    Are you worried about a major recession?  Worrying won't help, and isn't good for you.  The economy is cyclical and will experience times of recession.  Listen this week to find out how to avoid anxiety. Key takeaways: Don't Buy into the Headlines Resist Impulsive Actions Make Time to Relax Expand Your Outlook Investing Basics - Use AE Creative "Understanding Market Corrections (Dually licensed version) 8 pages  http://downloads.financial-resources.org/books/wjxu/#p=1 

    Episode 126: Happiness in Retirement Part 2

    Play Episode Listen Later May 4, 2023 12:17


    In this two-part series we will give some ideas on how to be happy in retirement, assuming you have already handled the financial aspects.  What are you going to do with the extra 2,000 hours per year you will have?  Often people don't plan for what they will do with this new found time but it is important to your well being.  Here are some ideas: Key Takeaways: Develop a grateful spirit Learn something new Find new adventures Whitepapers: Your Retirement Income Planning Checklist (Dually licensed version) 24 pages  http://downloads.financial-resources.org/books/qmmm/ 

    Episode 125: Happiness in Retirement Part 1

    Play Episode Listen Later Apr 27, 2023 13:00


    In this two-part series we will give some ideas on how to be happy in retirement, assuming you have already handled the financial aspects.  What are you going to do with the extra 2,000 hours per year you will have?  Often people don't plan for what they will do with this new found time but it is important to your well being.  Here are some ideas: Key Takeaways: To enjoy wealth you need good health Companionship is vital You need a sense of purpose Whitepapers: Your Retirement Income Planning Checklist (Dually licensed version) 24 pages  http://downloads.financial-resources.org/books/qmmm/ 

    Episode 124: Summer Fun for Kids

    Play Episode Listen Later Apr 6, 2023 12:37


    Kids and Grandkids will be out of school for the summer soon.  On this podcast we will talk about the fun things we did as children, and offer some ideas to make summer break fun.  And create lasting memories for the school aged children in your life. Key takeaways: Outdoor Ideas Indoor Ideas Educational Ideas Acts of Kindness

    Episode 123: Is Pet Insurance a Good Idea?

    Play Episode Listen Later Mar 30, 2023 12:06


    Pets are an important part of many families.  Our "furry babies" can get injured and sick, and the vet costs can be very expensive.  So, should you buy Pet Insurance? Key takeaways: Injuries to dogs or cats can cost $1,000s 84% of pet insurance issued by 4 carriers Plan can have deductibles & reimbursement percentages Other ways to save on Pet Care

    Episode 122: Final Expense Planning

    Play Episode Listen Later Mar 23, 2023 13:35


    Do you know the difference between final expense life insurance and pre planned funeral packages?  The cost of funerals increases between 5-7% per year.  Since you already know that you will need a funeral at some time in the your life, why not plan ahead and save your loved ones the difficult decisions and financial burdens of your funeral? Key takeaways: Final Expense life insurance is a small death benefit meant to pay for your funeral Final Expense plans still require minimal underwriting, and you will pay the premiums for life Preplanned funeral packages lock in pricing today's costs All aspects of your funeral are already planned and paid for

    Episode 121: Why Go on Short-Term Missions - Ecuador

    Play Episode Listen Later Mar 16, 2023 13:01


    On the next 2 weeks of podcasts, we will share our experiences with short term missions.  We hope you enjoy our insights on the people, their living conditions, and how to make a positive impact in their lives. This week we will talk about Ecuador. Key takeaways: What we enjoy about Ecuadorians Geographical & Economic highlights of Quito Medical Tents bring blood pressure & sugar readings, and eyeglasses How you can bring hope to remote villages

    Episode 120: Why Go on Short-Term Missions - Cuba

    Play Episode Listen Later Mar 9, 2023 12:16


    On the next 2 weeks of podcasts, we will share our experiences with short term missions.  We hope you enjoy our insights on the people, their living conditions, and how to make a positive impact in their lives. This week we will talk about Cuba. Key takeaways: What does socialism really look like Poverty in Cuba vs poverty in the US Money manipulation in Cuba Many Cubans have never seen an American

    Episode 119: Best Safe Interest Earning Options

    Play Episode Listen Later Jan 26, 2023 12:45


    Many people are accumulating cash out of concern for stock market losses.  We see many people that are frustrated though as safe alternatives for their cash often are not earning enough to keep up with inflation.  Today we talk about safe and liquid options that are earning more than brick and mortar banks are paying. Key takeaways: Online High Yield Savings accounts How to find one that is right for you I-Bonds - how they work and what they are paying

    Episode 118: 2022 Market Review

    Play Episode Listen Later Jan 19, 2023 12:34


    2022 was a unique year for the stock market as many negative factors came together at the same time.  The US hasn't seen this combination before: stocks and bonds both down, inflation, and some say a recession.  So do traditional 60/40 investment plans work anymore? Listen to this week's podcast to see why your investment strategies need to change. Key takeaways: The impact of rising interest, inflation and recession in the same year Review of key metrics for 2022 3rd worst year in stock market history for 60/40 plans

    Episode 117: Simple Positive Resolutions

    Play Episode Listen Later Jan 12, 2023 13:08


    Ever make "big" New Year's resolutions that were onerous, difficult, and didn't last long?  We all have.  So instead, try some of these simple resolutions that are small steps to big change. Key Takeaways: Wake up every morning with a simple positive statement Recognize happy moments when you are in them Is this current issue long term?  If not, let it go Don't procrastinate, get things done as they come up

    Episode 116: New Year Habits - Part 2

    Play Episode Listen Later Jan 5, 2023 13:31


    We have all tried New Year's Resolutions that didn't last long.  Instead of resolutions, try adding simple new habits.  We hope you can take one, two, or just a few of these simple habits and make them a part of your New Year.  Our hope for you is that this coming year is better than this past year. Key takeaways: Get healthy, good breakfast, drink more water, sleep 7-8 hours a night Be proud of yourself, reflects on your good qualities and your strengths Plan! Your next day's goals & outfit, monthly goals, and daily to do's Think in solutions, not problems

    Episode 115: New Year Habits - Part 1

    Play Episode Listen Later Dec 29, 2022 13:03


    We have all tried New Year's Resolutions that didn't last long.  Instead of resolutions, try adding simple new habits.  We hope you can take one, two, or just a few of these simple habits and make them a part of your New Year.  Our hope for you is that this coming year is better than this past year. Key takeaways: Count your blessings, and let those you love know what you think of them Journals, bucket lists, and to do lists Help others, be kind, stop judging others

    Episode 114: New Grandparent Tips

    Play Episode Listen Later Dec 22, 2022 11:38


    What an exciting time becoming a new Grandparent.  This is new territory that needs to be navigated with wisdom and grace.  Times have changed, and the baby has parents who may have different ideas than you do. Listen this week for our tips for new Grandparents. Key takeaways: Keep your advice to yourself Listen to the parents Help when you can, and that includes the parents Follow the parent's rules

    Episode 113: Get out of Debt - Part 3

    Play Episode Listen Later Dec 15, 2022 11:05


    Most people have found themselves dealing with too much debt as some time in their lives.  Others live in perpetual debt.  It isn't a good feeling when those debt payments seem endless.  This three-part series will give you some ideas on how to get out of debt, and stay out of debt. Today we talk about creative ways to cut down on expenses.   Key takeaways: Make a budget Extra income with side gig, sell stuff on Facebook Marketplace, stop investing Have one credit card and pay it off every month Give more

    Episode 112: Get Out of Debt - Part 2

    Play Episode Listen Later Dec 8, 2022 13:10


    Most people have found themselves dealing with too much debt as some time in their lives.  Others live in perpetual debt.  It isn't a good feeling when those debt payments seem endless.  This three-part series will give you some ideas on how to get out of debt, and stay out of debt. Today we talk about creative ways to cut down on expenses.   Key takeaways: Online coupons and consignment shopping are great ways to buy what you need at a discount FOOD is the hardest budget item to control Do you need expensive hobbies or memberships? Get creative with free entertainment

    Episode 111: Get Out of Debt - Part 1

    Play Episode Listen Later Dec 1, 2022 12:28


    Most people have found themselves dealing with too much debt as some time in their lives.  Others live in perpetual debt.  It isn't a good feeling when those debt payments seem endless.  This three-part series will give you some ideas on how to get out of debt, and stay out of debt. Key takeaways: Start an emergency fund so that emergencies don't catch you by surprise List out your debts and pay off the smallest one first while paying the minimums on other debt Once you pay off the smallest debt, take that payment and apply it to the next debt Determine how much you can pay towards debt per month and stick with it

    Episode 110: Is Pet Ownership Right for You?

    Play Episode Listen Later Nov 24, 2022 12:34


    Being a pet owner has many joys and trials.  Is owning a pet right for you?  On today's podcast we talk about some of the joys and benefits of having pets.  We also discuss the responsibilities and expenses. Key takeaways: Pets can help you live longer Pets can be great companions Know the costs before you get a pet: time and money Covid lockdowns created a rush to get pets

    Episode 109: Older Workers are "Quietly Returning"

    Play Episode Listen Later Sep 15, 2022 12:41


    There has been a trend among younger workers called "Quietly Quitting" where they do the least amount of work required for their job.  But a new trend is emerging called "Quietly Returning" where older workers that were retired are "unretiring".  This gives both employers and older workers big advantages.  Older workers want part time, flexibility, routine, and socializing.  Employers can fill open positions with people that have years of varied experience. Key takeaways: More than 60% of those who unretire say they are looking for something to do  More than 50% are happy with their decision While it can be intimidating, these workers are trailblazers Retirement no longer an exit, but a mile market

    Episode 108: $80 Million for the IRS

    Play Episode Listen Later Sep 8, 2022 12:40


    I'm sure you have heard a lot about the provision in the Inflation Increase Act to give $80 million dollars to the IRS.  There has been much concern about increases in IRS audits and that the IRS has been stockpiling bullets.  While lawmakers are trying to calm the concerns of Americans, there are several reasons why the IRS is understaffed and service is suffering.  The real question is what will happen when the IRS beefs up it's staffing.   Key takeaways: Since the 2013 IRS scandal, there have been several IRS budget cuts The Inflation Increase Act will require more taxes to be collected to pay for all the new spending Significant numbers of IRS agents are over 55 and will be retiring New hires are not expected to be trained until 2026

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