Tuesday, December 8, 2015
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’ – TUESDAY EDITION
“The smallest feline is a masterpiece.” Leonardo da Vinci
* New at BOBSERVATIONS – “It’s A Musical!”.
* Russ Fox provides “Yet Another Reason Why Requiring Tax Professionals to Obtain a License Won’t Stop Tax Professionals from Behaving Badly” at TAXABLE TALK (highlight is mine) –
“In California, everyone who prepares a tax return for money must have a license. Individuals must either be an Enrolled Agent, a CPA, an attorney, or obtain a license from the California Tax Education Council. Of course, that means that no California tax professional would commit tax fraud, right?
Of course not. Where there’s money involved there will always be people trying to obtain that money fraudulently. That’s the case whether you need no license, one license, or 100 licenses to prepare a tax return.”
Right on, brother Russ!
* Joe Kristan of THE ROTH AND COMPANY TAX UPDATE BLOG explains in detail “Estimated Tax Payments: Who Needs to File Quarterly” at IOWA BIZ.
* Good advice from Brent Hunsberger of OREGON LIVE - “Need help with taxes? Better find a tax pro now”.
You can begin your search at my website FIND A TAX PROFESSIONAL.
* New Hampshire is also offering a state amnesty program beginning in December -
“From December 1, 2015 through February 15, 2016, taxpayers have a one-time opportunity to receive amnesty from all penalties and one-half interest on outstanding taxes by paying the tax due and one-half of the applicable per annum interest that has accrued since the tax was due. Amnesty is available regardless of whether the DRA has assessed the tax due or the taxpayer has filed a return and even if the taxpayer has appealed or intends to appeal.”
Click here for more information on this program.
* Robert W Wood tells us that the “IRS Power To Revoke Passports Signed Into Law” by BO on Friday, December 4th -
“The law says the State Department can revoke, deny or limit passports for anyone the IRS certifies as having a seriously delinquent tax debt in an amount in excess of $50,000. Administrative details are scant. It could mean no new passport and no renewal. It could even mean the State Department will rescind existing passports.”
This new power is part of the Fixing America’s Surface Transportation Act, aka the FAST Act or the Highway Bill. This is the same legislation that reinstated the stupid and costly idea of requiring the IRS to use outside collection agencies to collect outstanding tax debts (did you see yesterday’s TWTP post “Another Tax Professional Discussion: Outside Collection Agencies”?).
* Professor Annette Nellen discusses “Tax Return Due Dates and Some History” at 21st CENTURY TAXATION.
* Over at ABOUT.COM William Perez gives detailed instructions on “How To Fill Out Form W-4”.
THE FINAL WORD
I firmly support strong federal and state gun control laws – more so than ever in light of continued mass public shootings.
I believe that it should be illegal for an individual to own and carry any gun more “intense” than a hunting rifle. And I believe that a gun license should be akin to a driver’s license – applicants must attend gun safety classes, and pass a written test, and be able to demonstrate the ability to properly handle a gun in order to receive a valid license. There also needs to be some kind of national database of ammunition purchases to track, and prohibit, individual purchases of excess ammunition.
While I am somewhat concerned about the ability of criminals to acquire guns (despite gun-control legislation), I am much, much more concerned about the ability of the mentally disturbed and religious and political fanatics to currently acquire guns of all kinds of “intensity”.
It is important to understand that the inclusion of the 2nd Amendment in the Bill of Rights was a political accommodation for those among our founding fathers who opposed a federal armed forces. The right to bear arms and maintain a militia referred to maintaining the supremacy of the state militias over any federal army.