Tax Advice for the Salt Lake Valley Looking for Someone to Trust

Our Tax Services

High quality comprehensive accounting and tax services:
IRS Representation For You
Tax Planning For Big Savings

For Small Businesses

“Hassle Free” QuickBooks Setup
“Reset” Your QuickBooks
“Part Time CFO” Services
Accounting Done For You

Tax Problem Resolution

“Innocent Spouse” IRS Relief
Bankruptcy Options That Work
What Does The IRS “Have” On You
Non-Filed Returns–Done For You Online Filing

A Quick And Easy Way To Do Your Tax Return Yourself
Offers Multiple Packages Perfect For Simple Tax Returns

Expert Advice

Ferrone & Associates CPA is a full-service accounting firm serving clients throughout the Salt Lake City, UT area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs.


Genuinely cares...

“About the success of my business”
“Helps me tax plan for peace of mind”
“Makes sure I am aware of the best tax filing options for me”

The best...

“CPA in Salt Lake City”
“Most honest and straightforward CPA around”
“Thorough and accurate.  Best around!”

A great teacher...

“Helped me learn how to use Quickbooks Online for myself”
“Assisted me in understanding how to reconcile my bank accounts”
“Training sessions in Quickbooks Online so I can run my business more efficiently”


Preview of the Inflation Reduction Act of 2022 (8/16/2022)

Aims to lower energy costs, increase cleaner production and reduce carbon emissions by roughly 40% by 2030 and;

  • Lowers ACA health care premiums for millions of Americans while extending the expanded ACA coverage through 2025
  • Introduces a 15% corporate minimum tax and closes the carried interest loophole to make the biggest corporations and the ultra-wealthy pay their “fair share”
  • Funds greater enforcement of the tax code by providing the IRS $124 Billion for enforcement
  • Allows Medicare to negotiate drug prices and caps out-of-pocket costs to $2,000
  • No new taxes on families making $400,000 or less
  • No new taxes on small businesses

Note: Congress must have been persuaded by the problems the IRS backlogs have caused and will continue to cause, until improvements are made. So here comes the Calvary. $124,000,000,000, (Billion). That’s a lot of improvements. 

It’ll take a bit of time but you should start seeing changes in 2023. From then on the IRS will transform enforcement dramatically, but what about clearing the back log? That too. But the main target will be collecting the estimated $365 Billion dollar short fall in unreported and uncollected taxes. 

So, everything is lining up. The money is there and the incentive is there. That means this will be a game changer. Possibly the likes of which we have not seen before. 

The IRS will become a lean mean cash machine. And… there might be a silver lining; If the IRS is raking in the dough from uncollected taxes, Congress may not need to raise taxes. The new found money can solve a lot of problems; shore up Social Security and have funds left over to run the country, or vice-versa. Either way would be an improvement.    

Click HERE to read more from our blog.