Tuesday, July 17, 2018

WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?


* Have you checked out my new non-tax blog – the return of THE LAKE REGION SOMETHING – yet?

* Kay Bell discusses “SCOTUS nominee Brett Kavanaugh's judicial take on taxes” at DON’T MESS WITH TAXES.

I certainly supported at least one of his past court decisions.  As Kay explains –

In 2013, Kavanaugh became a hero to many independent tax preparers {myself included – rdf}.

In Loving v. IRS, the D.C. court on which Kavanaugh serves ruled that the Internal Revenue Service exceeded its statutory authority when it attempted to regulate tax preparers.

‘It might be that allowing the IRS to regulate tax return preparers more stringently would be wise as a policy matter," Kavanaugh wrote in his majority opinion in Loving. "But that is a decision for Congress and the President to make if they wish by enacting new legislation.’"

Judge Kavanaugh was mentioned in an installment of the BUZZ from 2013 regarding the IRS appeal of Loving v IRS – see the “Final Word”.

Coincidentally, the same BUZZ installment also began with reality cartoon clown Donald T Rump before he was candidate Rump.  See what I said about the idiot back then –

Trump certainly is a fool, isn’t he?  Talk about the pot calling the kettle black!  Except for the members of clan Kardashian, I can think of no other individual who has made such a successful career out of shameless self-promotion, without possessing anything of actual consequence, importance, value, or even interest to promote!  The Dumpster is truly one of the best examples of someone who is famous for merely being undeservedly famous.”

* Paul D. Allen provides a primer on “Tracking Your IRA's Taxable Basis” at the PIM TAX SERVICES BLOG.

* Jason Dinesen answers the question “Can I Claim My Disabled Spouseas a Dependent?” at DINESEN TAX TIMES.

The answer – yes, but “why would anyone want to file this way instead of just filing jointly? 

* A reminder - my new book of tax planning and preparation advice – TAX SMARTS: MY BEST ADVICE FROM 45+ YEARS AS A TAX PROFESSIONAL – has “gone to press”.

* At FORBES.COM a reader decided to Ask the TaxGirl “Invest Or Roll Your Tax Refund?” and Kelly Phillips Erb, aka TaxGirl, answered.

Of course, as with just about every tax question, the answer is “it depends”.

* And in a subsequent “Ask the TaxGirl” installment KPE responds to the question “Can You Save Taxes By Treating Your Home As A Rental?”.

It seems politicians and legislatures in highly taxed states are not the only ones coming up with totally specious attempts to “get around” the $10,000 limitation on the itemized deduction for taxes.

* Michael Cohn reports “IRS owes tax refunds to 133,000 injured veterans”.

THE FINAL WORD

Check out the video from my friend Tres Hanley’s new CD, which should “drop” this December in time for Christmas.  Click here.

I “knew her when”.

We don’t agree on politics, but I support and honor her championship of animal causes.

TTFN












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