Saturday, September 4, 2010


* My sparring partner Joe Kristan of the ROTH AND COMPANY TAX UPDATE BLOG acknowledged my latest volley in our debate on tax preparer regulation in “Flach and Preparer Regulation”.

It is nice to have a normal, serious and professional online debate, considering past experiences with some less professional fellow tax bloggers.

We both agree that “the argument boils down to whether the benefits of regulation are worth the costs”.

Joe compliments my volley – “Robert does make some interesting observations worth addressing when I have more time later. Meanwhile, he makes as good an argument for the bad case for preparer regulation as you're likely to find.”

I look forward to Joe’s upcoming response.
* Later in the week Joe explains that “debt cancellation usually is taxable, but not always, and a 1099-C doesn't by itself always mean you have to pay tax” in his post “Debt Cancellation Income: A 1099-C Isn't Always Right”.
* Before I leave the subject of tax preparer regulation let’s check out WEBCPA’s article “NSA Tells IRS to Level Playing Field for Tax Preparers” about the recent National Society of Accountants testimony before the Internal Revenue Service on the agency’s proposals for registering, testing and requiring continuing education for paid tax preparers.
NSA executive vice president John Ams testified Tuesday that the IRS should treat all paid tax preparers the same way by subjecting all of them to the requirement for Preparer Tax Identification Numbers, and not exempt those who may be subject to state regulation.” {note – the above highlight is mine}
* TAX PROS – check out the SPECIAL OFFER over at my NJ TAX PRACTICE BLOG! And members of NATP may want to check out my “Tax Pro Buzz” exclusive blog post in the MEMBER2MEMBER section of the NATP website (sorry – cannot provide direct link – click on “Blogs” in the menu).

* William Perez reports that “Tax Amnesty in Illinois Signed into Law” at WILLIAM’S TAX PLANNING BLOG.

* Kay Bell tell us how to “Donate and Deduct Credit Card Rebates“ at DON’T MESS WITH TAXES.

* The IRS online EFTPS system is an excellent way to schedule all your federal estimated tax payments for the year so that you don’t forget to make one on time. Kay discusses this process in her post “Time To Open Your EFTPS Account”.

* Kelly Phillips Erb hosted a series of guest posts on the topic of the Bush Tax Cuts over at TAX GIRL this past week. The first one was “Death to the Estate Tax” by Vinny Kochetta.

* Speaking of the Bush Tax Cuts, see how much you know about the expiring tax cuts by taking the TAX FOUNDATION’s “Bush Tax Cut Quiz”.

* Thanks to Joe Arsenault for including TWTP in his mini-Buzz “BlogRoll Beans” post at CAFETAX. And if you haven’t checked out his new website ROTH IRA FACT yet be sure to do so.

* Some good non-tax advice from Bruce, the MISSOURI TAX GUY, in “Paying Off Debt the Smart Way”.

* The Treasury Department has initiated a new program to increase the direct deposit of tax refunds for low and moderate income “unbanked and underbanked Americans”. Click here for the press release.

* PRO TAX has an informative article on “Tax Considerations of Disabled Taxpayers”.
* Back in early August I discussed the 2010 IRS Tax Forum held in NYC, which I attended on the first day. TAX MAMA Eva Rosenberg discusses her experience with this year’s Las Vegas forum, which is usually the most crowded, in “A Trip to the IRS Tax Forums” (be sure to check out both Page 1 and Page 2).

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