Spaceballs and the IRS data book are here
$5.1 trillion in predicted box office
What I’m reading…
Ropes & Gray (June 2025): Preparing for ETFs as a Share Class
James Garland (1987). Taxable portfolios: Value and performance
Alpha Architect (June 2025): Concentrated Stock Risk, Tax Drag, and a Smarter Path Forward.
Tax Policy Center: The One Big Beautiful Bill Is Designed For The Wealthy. The Senate Still Has Time To Change That.
Tax Policy Center: One Big, Beautiful Bill Complicates Charitable Giving
IRS (May 2025): 2024 Data Book online
From the IRS data book…
“In FY 2024, the IRS collected approximately $5.1 trillion in gross revenues”
“For all returns filed for Tax Years (TYs) 2014 through 2022, the IRS has examined 0.40% of individual returns”
“The IRS has examined the returns of 7.9% of taxpayers filing individual returns reporting total positive income of $10 million or more for TYs 2014 through 2022, as of the end of FY 2024”
Enough exam talk… let’s get ready for the weekend…
Spaceballs is back
We asked “what do the fans want?” But instead we’re making this movie.
Mel Brooks (announcing Spaceballs 2)
Get out there and comb that desert!