Who does this affect the most?

Yeah, so it affects two different groups really differently.

As I mentioned at the beginning of the economic update, there's a K-shaped economy that's developing where the people on the higher end of the spectrum, wealthier, invested in the stock market, they've benefited from the gains there that you're seeing within the market.

If they're well-invested and diversified, they're catching a lot of that appreciation with stocks.

And the other side of it, though, is the people that are on the lower income side, Think of folks that are on a very fixed income.

Just as an example, say if you have $100 a week to spend on stuff and you were spending $20 on gas, that gas price might be $40 of your weekly allocation.

So they are really feeling the pinch right now, Wayne.

That kind of sounds tough for the self-employed.

Can you make a case to reject it?

You can, and oftentimes you probably should because the agency is working from incomplete information a lot of times.

A meaningful share of these notices are wrong or overstated.

The biggest mistake is you receive one of these and there's delaying action or doing nothing.

You have generally 30 days from the date of the notice, so silence gets treated as agreement, which you probably don't want to do, and then it escalates to what's called a notice of deficiency or At that point, you have 90 days to petition the tax court, and that deadline is absolute.

There's no wiggle room there.

So that window sounds like it narrows pretty fast.

So how exactly is reasonable compensation determined?