I am off to
Lancaster PA to learn how to prepare my PA corporation’s state income tax
return. I will return with a Friday
BUZZ.
* The October
“issue” of THE TAX PROFESSIONAL will be up early tomorrow morning. It has some more food for thought for tax
preparers, and I would appreciate hearing your comments on the topics
discussed. You can email them to rdftaxpro@yahoo.com with “THE TAX
PROFESSIONAL” in the “subject line”.
I am also
interested in your comments on topics discussed in previous “issues”.
* KIPLINGER.COM
warns “Retirees, Watch Out for the State Tax Bite”.
The item looks “at three primary categories: state tax
treatment of pensions and retirement income, Social Security, and estates and
inheritances.”
* That reality show
idiot “The Situation” is claiming stupidity as his defense for cheating on his
taxes. In this case it is a credible
defense – the fool certainly is stupid.
Actually he is
blaming the FU on his brother, who, in turn, is blaming everything on their
accountant. So TMZ (a truly rare source
for a BUZZ item) tells us in “The Situation Clueless on Tax Filings ...Mi Familia Screwed It Up”.
* Kay Bell is a
much better source of reliable information on the tax indiscretions of the
brain-dead reality tv show “star”. In
her BANKRATE.COM post “Bad Tax ‘Situation’ for Reality TV Star” Kay tells us –
“The feds charge that the Sorrentino brothers
knowingly provided their accounting firm with false information, which was used
unbeknownst to the paid preparers, to file incorrect tax returns.”
In this “situation”
I tend to believe the Feds regarding the paid preparers.
* And at her DON’T
MESS WITH TAXES blog Kay continues the discussion of the reality show fool’s
tax FUs and correctly advises “Lying to Your Tax Pro Could Result in a Bad Tax Situation” –
“We all know the old adage used when
discussing tax-filing software: Garbage in, garbage out.
It also applies to taxpayer-tax preparer relationships.
If a taxpayer isn't honest or forthcoming about his or her tax circumstances
when working with a tax pro, then that preparer is going to complete and submit
a 1040 that's flat-out wrong.
And that creates problems for both the taxpayer and the
tax preparer.”
* Strange but
true. “The IRS Says I’m Not Authorized to Speak On My Own Behalf”. So says
Jason Dinesen at DINESEN TAX TIMES. Oi vey!
* At TAXPRO TODAY
Jeff Stimpson’s piece “IRS to Send EITC Due Diligence Warnings” explains one of
the reasons why the Earned Income Credit does not belong on the 1040 –
“The IRS estimates that from 22 percent to 26
percent of all EITC claims contain ‘some type of mistake’ that altogether cost
the government a total of $13.3 billion to $15.6 billion in 2013.”
TTFN
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