* I actually could
not come up with a topic for discussion for THE TAX PROFESSIONAL this
week. Tax pros – any suggestions?
If you haven’t seen
last week’s post yet do so now!
* And check out
this week’s post at BOB’S BABBLINGS.
* Howard Gleckman
tells it like it is in “Obama-Era Tax Reform: RIP” at TAX VOX (the blog of the
Tax Policy Center) –
“If you still thought there was any chance
Congress would pass tax reform before the next election, you can officially
abandon hope.”
It seems I can no
longer dream.
Howard reports –
“In an online interview published Sunday on
Morning Consult, Senate Majority Leader Mitch McConnell (R-KY) hammered the
last nail in the coffin. Asked about his priorities for the rest of the year,
McConnell replied, ‘We’re certainly not going to be able to be doing big,
comprehensive tax reform with this president. The president is not interested
in revenue neutrality, and he’s not interested in treating all taxpayers the
same, so I don’t think we’ll get there on comprehensive’.” -
The idiots in
Congress have been talking big about the need for genuine and substantial tax
reform for about 3 years now – but of course they have done absolutely nothing,
and will do absolutely nothing until after the 2016 election (if even then).
It has always been
obvious that BO never wanted genuine and substantive reform. His proposals have always been to further
complicate the already mucking fess of the Tax Code with expanded refundable
credits. He wrongly wanted, and wants,
to continue the erroneous practice of distributing government welfare and other
social program benefits via the 1040, and equally wrongly using the Tax Code to
“redistribute” income.
Read my lips – the
purpose of the income tax is to raise the money necessary to fund the
administration of the government.
Period!
The most we can
hope for this year is that the idiots in Congress address the tax extenders
before the end of the fall.
* Jason Dinesen
continues his answer of the question “Are HRAs Always Appropriate for Sole
Proprietors?” with “Part 3”.
* Tax attorney Darrin
T. Mish deals with another important question at his IRS PROBLEM SOLVER BLOG - “How Easy Is It For Identity Thieves To Get Your Tax Information?”.
Personal tax return
information is NOT public information.
Transcripts should be available only
to the taxpayer, the Executor of the estate of the taxpayer, and a duly
authorized tax professional with a Power of Attorney. The IRS should not be allowed to provide taxpayer information directly to third
parties for income verification. If a
mortgage company needs a transcript of a tax return it must get it from the
applicant.
* The following
appeared in the Spring 2015 issue of the NEW JERSEY STATE TAX NEWS -
“The
following jurisdictions are conducting tax amnesty programs. During the
designated amnesty period, taxpayers have a chance to pay back taxes with
reduced (or eliminated) penalty and/or interest. For more information,
including eligibility requirements, or to obtain an application, visit the
jurisdiction’s website.
TTFN
1 comment:
How about doing somthing on multi-state?
Post a Comment