+ The July 2016 issue of my free
monthly tax planning and preparation newsletter ROBERT D FLACH’S THE 1040
LETTER is now available to download.
This month I explain how much mortgage
interest you paid during the year is actually deductible, discuss a Tax Court
case that concerns a tuition tax credit, list a dozen “urban tax myths”, and
introduce you to a unique newsletter for NJ state taxpayers.
Click here to read the July issue.
+ And the June issue (click here to
read) discusses some special Summer Tax tips and has advice for recent college
graduates who will soon be starting their first full-time job.
+ Here’s a suggestion. Follow me by email – by entering your email
address in the box in the right border and clicking “submit” – and get my THE
WANDERING TAX PRO posts sent to your inbox. This way you will not miss a single
tax tidbit. I promise that I will not
use, or sell, your email address for spam promotional activities.
+ Another problem I have with the GOP
“Blueprint for Tax Reform” (click here and here for previous posts on the
blueprint) concerns the itemized deduction for state and local taxes (property,
income, sales).
See my post “Defending the Deductions for Taxes and Mortgage Interest” from 2013 to see why I would keep this
itemized deduction.
+ Kay Bell celebrated the holiday
week-end with “13 tax quotes by famous people in positions of power” at her
BANKRATE.COM blog.
She began with the old chestnut from
James Otis – “Taxation without
representation is tyranny."
Taxation with representation, especially the representation we have
today, isn’t so great either (someone else said that before me).
I like the quote from Ronald Reagan - “The problem is not that the people are taxed
too little. The problem is that government spends too much.” Ain’t that the truth. The money paid in salaries and benefits to
the idiots in Congress is a total waste.
+ At TAXPRO TODAY Jeff Stimpson shared
comments from tax preparers in “Tax Pros Highlight the IRS’s Biggest Challenges”.
Here are what I see as the major challenges
facing the Internal Revenue Service –
ü
The
idiots in Congress continue to force totally unrelated and unnecessary jobs on
the IRS – most prominent being the administration of federal welfare and other
social benefit programs like the Earned Income Credit and the refundable Child
Tax Credit, educational assistance, and Obamacare. Neither the IRS, nor tax preparers, should be forced to become Social Workers!
ü
At
the same time the idiots in Congress continue to underfund the IRS – actually
cutting its budget each year.
ü
Despite
underfunding the IRS is faced with having to deal with the growing problem of identity
theft, and the tax fraud resulting from refundable credits, which were created
by the idiots in Congress.
As with a lot of issues, the cause of
the problems and challenges facing the IRS all come back to the incompetence of
the idiots in Congress.
The underfunding of the IRS by the
idiots in Congress also creates a challenge for taxpayers and tax
professionals. The component of the IRS
that has been hardest hit by underfunding, partially because of IRS mismanagement,
is “customer” service. As one example or
the mismanagement, the IRS wasted time and money on a useless and valueless voluntary
“Annual Filing Season Program” for tax preparers.
Your thoughts?
TTFN
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