Friday, November 14, 2014
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’
Next week I will be at Bally’s in Atlantic City for the annual NATP year-end tax update workshops – returning to PA late Thursday evening. There is no free in-room wifi at Bally’s (it costs about $13.00 per 24 hour period!), so I will not be able to “wander” the web or post while away. That means no BUZZ installments next week. I have scheduled some posts to appear while I am away, and will post on the workshops on Friday. If you feel BUZZ withdrawal you can get some relief by following Joe Kristan’s daily Tax Roundups.
* Tax pros, I am still waiting to “hear” your comments on the issues discussed in the November, and previous, “issues” of THE TAX PROFESSIONAL.
Email your comments to email@example.com.
* My post on explaining mortgage interest and investment interest is referenced in ACCOUNTING TODAY’s weekly BUZZ-like “In the Blogs”. This week the theme is “Nervous In The Service”.
* The weekday daily CCH Tax News Headlines e-letter reports “IRS Provides IRA Owners with Fresh Start for Rollovers in 2015”
* And CCH has a “Tax Briefing: 2014 Year-End Planning” designed to bring you up to speed, in summary style, on 2014 year-end tax strategy essentials.
* Jason Dinesen keeps us informed on same-sex tax issues. His latest post on the subject is “Same-sex Marriage, Amended Tax Returns and Filing Status”.
* Kay Bell talks about the fate of the tax “extenders” in the lame duck session of the idiots in Congress in her post “Tax Extenders Outlook Cloudy in the 2014 Lame Duck Session” at DON’T MESS WITH TAXES.
The consensus seems to be that the extenders will once again be extended (highlight in quote is mine) - “But as anyone who's paid any attention at all as to how Congress does or, too often, doesn't work, you know it's a good idea to never ever take any action for granted.”
* Kelly Phillips Erb looks at the prospects for substantive tax reform from a historical perspective in “What Matters Most When It Comes To Tax Reform? Hint: It's Not Control Of Congress” at FORBES.COM, a post I missed last week.
Based on Kelly’s analysis we shouldn’t expect anything of consequence to happen this decade.
THE FINAL WORD-
I recently came across this via a “tweet” -
An attorney charges a blind woman $100 for legal services. The woman gives him two new $100 bills that are stuck together, thinking it is only one bill. What is the lawyer’s ethical dilemma?
Should he tell his partner?