Monday, March 7, 2016
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’ - ANOTHER SPECIAL TAX SEASON EDITION
What’s this – another tax season BUZZ! Wow! Some more items that could not wait until after April 18 to share.
* Jason Dinesen discusses one of the many problems with using a “box” to prepare your tax returns in “How to Fix a Schedule C Filed In the Wrong Spouse’s Name” at DINESEN TAX TIMES.
“The following scenario comes up now and then, especially among self-employed taxpayers who file their own tax returns using tax-preparation software.”
If the taxpayer had gone to Jason in the first place, and did not erroneously rely on a “box” to prepare a correct return, all his agita could have been avoided.
* I sympathize with Jason when he says “Sometimes I Wish I Could Just Prepare 1040-EZs”. Although I would substitute 1040-EZs with 1040As – I do not prepare 1040-EZs.
I have always said I sincerely believe that if I did nothing but 1040As all day during the tax season, I would make more money, experience less agita, and substantially reduce the number of extensions.
Like Jason, I, too, like more complicated returns. But not so much in the rush of the hectic tax filing season.
As Jason suggests, the agita that arises from tax preparation comes from clients – obviously only a few and not all.
While I do enjoy visiting with and talking with many of my long-time clients - I would truly be in heaven if I worked alone at a desk all day and someone would just give me returns, with all the information necessary included, and I would just prepare the returns without having to deal with the actual taxpayers.
* The yellow rose of taxes, Kay Bell, points out another of dangerous buffoon Donald Trump’s lies in “IRS Audit Doesn't Prevent Trump From Releasing Taxes” at DON’T MESS WITH TAXES -
“But being under audit does not in any way prevent The Donald, or anyone, from releasing personal tax returns.
The IRS, of course, can't reveal a taxpayer's filings or items therein. There are strict privacy rules that prevent that.
Each taxpayer, however, is the owner of that info and he or she can make public as much as he or she wants about his or her tax filings any time she wants.”
* Speaking of Republican candidates’ tax returns, ACCOUNTING TODAY discusses “Rubio's Tax Returns: Few Details, $2.3Million in 5 Years” and “Cruz's Tax Returns: Few Details, $5 Million for 2011-14”.
THE FINAL WORD-
A FYI – as Tronald Dump was winning on Super Tuesday, Google searches for “How Can I Move to Canada” increased astronomically.