Wednesday, December 28, 2011
WHAT’S THE BUZZ? TELL ME WHAT’S A HAPPENNIN’ – WEDNESDAY EDITION
+ If you have not already done so - check out the December issue of LOIS.
+ It’s that time of year again - “Nominees Due for Tax Offender of the Year” over at Russ Fox’s TAXABLE TALK.
“With just one week left in 2011, it’s time again for anyone to submit a nominee for the Tax Offender of the Year. To be considered for the Tax Offender of the Year award, the individual must do more than cheat on his or her taxes. It has to be special; it really needs to be a Bozo-like action or actions.”
Nominations are due by tomorrow (Thursday) night.
I do believe that they have come in a close 2nd in the past – but I think this year the idiots in Congress have certainly earned the title.
+ Over at FORBES.COM Kelly Phillips Erb, the TAX GIRL, tells us “What You Can Buy With Your Payroll Tax Cut From Congress”.
Since, as she explained, “The payroll tax cut was extended for two months, saving the average taxpayer a grand total of $166”, she asked her fellow twits what they would do with an extra $166.
One respondant pointed out that, “It could cost the small business owner more than $166 to comply with modified payroll reporting requirements for two months”, a statement with which Kelly agreed.
+ And Kelly’s fellow FORBES.COM blogger Peter J Reilly gives us his list of “8 Unfair 2011 Tax Decisions”.
+ Prof Jim Maule gets his 2+ cents in on the issue of the 2-month payroll reduction extention in “Punting On Taxes”.
His bottom line correctly observes -
“So long as the Congress continues to value electoral politics and re-election as more important concerns than fulfilling its fiduciary duties to the nation, the downward spiral will continue.”
+ Do you want to know the “25 Richest Members of Congress”?
+ Want to know what’s new for NY State personal income tax for 2011? Click here.
THE FINAL WORD
A year-end thanks to all the fellow tax bloggers, commentators, and journalists whose posts, editorials, columns, and articles have appeared in the BUZZ for keeping me, and you, up-to-date on the tax world.
And a personal special thanks to Russ Fox and Bruce McFarland for your help with my Schedule A Guide.
To all my readers – may 2012 be less taxing!
FYI - I am not done with 2011 yet – look for my TAX YEAR IN REVIEW on Friday!