Friday, July 25, 2014


Better late than never!

* I didn’t realize I was chortling so loud.  At times my joy in discovering tax return errors made by CPAs (this happens more often than they would like you to think) can be described as “orgasmic”. 

Case in point, and, as Peter points out, another of many instances of CPAs proving they are not 1040 experts, the situation discussed by Peter J Reilly of FORBES.COM in his post “Social Security Disability Taxation - Curious And Confusing According to Tax Court”.

* Jason Dinesen talks about something that I had never even thought about before – “Taxation of Credit Card Benefits”.  

* Kay Bell, the yellow rose of taxes, reports that “two federal court rulings this week differed on just who is eligible for the {Obamacare premium} credit” in her BANKRATE.COM post “No Change Yet in Obamacare Tax Credit”.

“{IRS Commissioner} Koskinen said that until the courts settle the matter definitively, the IRS plans to continue granting advance premium tax credits to individuals who acquire insurance through the federal exchange.”

If the purpose of Obamacare is to attempt to provide universal health insurance coverage by assisting those who cannot afford the premiums with “upfront” tax credits, who gives a rat’s arse where the policy is acquired?  A person who would otherwise have remained uninsured is now covered.

* And at her DON’T MESS WITH TAXES blog Kay tells us “Mississippi Kicks off the Summer 2014 Sales Tax Holiday Season” –

Mississippi's annual sales tax holiday is this Friday, July 25 {today!}, and Saturday, July 26.”


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