WHAT’S THE BUZZ? TELL ME WHAT’S A HAPPENIN’

 

* Patience is still needed.  Roger Russell reports “Service levels hit new lows at swamped IRS” a ACCOUNTING TODAY.  

“Paper returns have piled up — there are 5.5 million Form 1040s and over 4 million business returns that have been opened but not processed. The goal is that by year-end, the paper returns will be processed. However, there are an additional 4 million returns anticipated by mid-October.”

A reminder – do not call or email your tax preparer to ask about your late refund.  There is absolutely nothing he or she, or you, can do to expedite the processing of your tax return or the issuing of your refund!

* From Professor Annette Nellen at 21^st CENTURY TAXATION – “Let's Avoid Unnecessary Costs and Complexities” –

“Let's look at all of the new credits and be sure they meet principles of good tax policy including equity, neutrality and simplicity. Also, let's be sure each has three good reasons why it is needed and that there is no alternative other than providing a tax rule.”

Right on, Sister Annette!  More complexity in the Tax Code we don't need.

* Kay Bell tells us “Farmers and ranchers in most of U.S. get drought tax relief” at DON’T MESS WITH TAXES.

* And Kay explains “ABLE accounts offer tax-favored savings help to disabled individuals”.

*  The JS Tax Corporation’s WEEKLY TAX TIP gives us “Five Tax-Loss Harvesting Tips”.

THE LAST WORD

Please read and share AMERICA IS NOT A CHRISTIAN COUNTRY.   

It is very important that this be understood.

TTFN