Up-to-the-minute advice, information, resources, and, on occasion, commentary on federal and New Jersey state income taxes, and the various New Jersey property tax rebate programs, and insights and observations on tax policy and professional tax practice, by 40-year veteran tax professional Robert D Flach.
Monday, July 3, 2017
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’
Since Tuesday is the holiday the BUZZ comes
to you a day early this week.
her preface to the report, Ms. Olson praises the IRS for running a generally
successful filing season, including reducing the incidence of identity theft,
implementing new accelerated Form W‑2 reporting requirements, and matching Forms W‑2 against tax
returns claiming refunds.But Ms. Olson
says taxpayers who require assistance from the IRS are continuing to face
significant challenges obtaining it.She
attributes part of the problem to resource constraints, saying that IRS funding has been reduced by nearly 20 percent since
fiscal year (FY) 2010, after adjusting for inflation.”
The idiots in Congress continue to force
unnecessary unrelated social welfare benefit responsibilities on the IRS while
at the same time reducing the budget allocation.And you wonder why I always refer to the
members of Congress as idiots.
And so it
should.To repeat what I said above,
using private collection agencies to collect alleged tax debt is, and has in
the past been proven to be, a stupid idea.
Kay’s post reports
“Olson, during testimony before a House
Appropriations Committee subcommittee on May 23, told lawmakers that
insufficient analysis of taxpayers' financial situations could result in some
owing taxpayers, at the urging of private collection agencies (PCAs), enrolling
in installment payment plans they cannot reasonably afford.
‘This problem will grow worse when PCAs, driven by the
prospect of earning commissions, are allowed not only to place taxpayers into
installment agreements (IAs), but also to 'restructure' IAs, all without ever
gathering financial information for the IRS to consider,’ said Olson a month
She reiterates those concerns in today's report.”
With Nina Olsen
there is at least one intelligent person in Washington.Unfortunately she is truly in the minority.
“Again, as with anything tax, the key to
deducting your cell phone as a business expenses is keeping good, complete and
* NY State has a
new payroll tax to fund “family leave”.It is employee funded, with a new withholding tax that started July 1.The State of New York explains everything at
“Paid Family Leave: How it Works”.
THE FINAL WORD
While we find
ourselves faced with the worst President in our history, a dangerous and
despicable mentally unstable idiot, currently occupying the White House, we
must remember this July 4th that America is still, so far, the
greatest country in the world.
Let us pray that,
for the sake of the future of America and the world, nut job loser Trump is
removed from office soon, so America can truly be great again.