* If I may be
allowed to repeat a previous BUZZ item: Hey
tax pros - I am still waiting to hear from youse guys on the topics discussed
in the October “issue” of THE TAX PROFESSIONAL! Please email me your thoughts
at rdftaxpro@yahoo.com with THE TAX
PROFESSIONAL in the “subject line”.
Please!
* As promised –
from Peter J Reilly “UnFair: Exposing The IRS - Does Not Make Strong Case Or Decent Documentary” at FORBES.COM.
While there are
many aspects of the current Tax Code that are truly unfair, this film
apparently did not address any of them.
Peter’s bottom line
- “Craig Bergman’s argument does not make
a lot of sense.”
Not surprising, as
the film is basically a “reiteration of a
political and cultural platform” – the platform of the infamous Tea Party.
As Peter says the
film was “a rally the troops type of
piece that would only work on those who were already convinced of the
viewpoints expressed”.
Peter approached
the film with an open mind and a true interest, but came away with nothing –
“I was genuinely interested in the topic and
hoped that in the 90 minutes I spent watching the film and the panel discussion
afterwards that this documentary would have disgorged some credible factual
information or leave me with new insights.
Regretfully that did not happen.”
The film calls for
the end of the income tax and the implementation of the “Fair Tax” – a national
sales tax. While I do not necessarily
support this, I have not totally dismissed the concept of a national sales tax. I talked about the potential benefits of such
a tax way back at the very beginnings of TWTP – and repeated the discussion in
the 2009 post “So What Do You Think – A National Sales Tax?”
* Daniel Hood
reminds us that “PTIN Renewal Season Open” at TAXPRO TODAY -
“The IRS announced that professional tax
preparers can now register for or renew their PTINs on IRS.gov.”
And –
“First-time PTINs cost $64.25; renewals are
$63.”
Why? There used to be no charge for a PTIN. The fee was originally initiated to pay for
the now dead RTRP mandatory registration program.
See my ACCOUNTING
TODAY 2013 editorial “Why Is There Still an Excessive PTIN Fee?"
I have already paid my annual $63.00 extortion fee to the IRS. Now I just have to pay my $100.00 extortion fee to New York State.
FYI, only those individuals with a valid PTIN are permitted to prepare federal income tax returns for compensation.
* TAXPRO TODAY
reports on the recent NATP Fee Survey in “Preparers’ Fees, Workload Increasing: Survey”.
No surprise here - the survey indicates that CPA preparers charge, on average, 60% more than the overall average fee for a Form 1040 and, again on average, $100 more than the average individual "unenrolled" preparer charges.
No surprise here - the survey indicates that CPA preparers charge, on average, 60% more than the overall average fee for a Form 1040 and, again on average, $100 more than the average individual "unenrolled" preparer charges.
* My former home
town of Jersey City turns up at #10 on the list of the “15 Worst Cities for Retirees”
at LIFEHEALTHPRO. Newark NJ is #2.
Also on the list –
Baltimore, Boston, Chicago, New York, and Philadelphia.
“The ranking is based on an extensive series
of metrics — 25 total — across five categories: affordability, activities,
quality of life, health care and jobs” applied to “the 150 largest American cities”.
This slide-show is
taken from WALLETHUB’s “2014′s Best and Worst Places to Retire”. Of the 15 best places to retire 6 are in
Florida and 4 are in Texas (Tampa is the best city for retirees) – the last 2
states to which I would want to retire. I would not want to retire to any of the
cities in the top 15.
The WALLETHUB study
says Jersey City is tied with Yonkers for the Highest Adjusted Cost of Living
of the 150 cities. Why do you think I
moved to PA?
TTFN
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