Op-ed by Truth in Accounting CEO and Founder, Sheila Weinberg, includes “On July 9, the Internal Revenue Service will turn 61, a few years short of the average retirement age. Many Americans, when they get ready to retire, reflect on their career. I’d like to think the IRS, were it personified, might take a long look at its professional life leading up to its birthday. The IRS's primary function is to take in American tax dollars, and use them to fund vital American programs, services, and operations. Because the dollars coming in do not equal the dollars going out, the U.S. national debt increases every day. … It’s imperative that governments accurately represent their deficits to their countrymen and enable government officials to make decisions based upon accurate data. Another double standard is that the IRS does not allow corporations with revenues of more than $5 million to use cash-basis accounting. … Before our national financial problems can be solved, our true financial condition associated with them must be accurately reported. We trust the IRS to report and acquire the correct data. Our expectations must be the same for our federal, state, and local governments. With the facts, you can be knowledgeable participants in solving our governments' financial problems. The mission of the organization I lead, Truth in Accounting, is to educate and empower citizens with understandable, reliable and transparent government financial information. …”
Read the full article on: Washington Examiner