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

Some post-Christmas BUZZ.  I don’t expect to have a Tuesday BUZZ next week.

* Tax pros, PLEASE check out the December “issue” of THE TAX PROFESSIONAL and let me know your comments on my “Soapbox” editorial.

* New at BOB’S BABBLINGS – “LBJ Took The IRT Down to 4th Street USA. When He Got There What Did He See? The Youth of America on LSD!”  Huh?  Also some Holiday Surfing USA.

* Kelly Phillips Erb, FORBES.COM’s TaxGirl, continues her annual “12 Days Of Charitable Giving 2014” with Pet Food Pantry Of Eastern North Carolina.

* It’s that time again.  “Nominations Due for 2014 Tax Offender of the Year”.  Send your nomination to Russ Fox at TAXABLE TALK -

“To be considered for the Tax Offender of the Year award, the individual (or organization) must do more than cheat on his or her taxes. It has to be special; it really needs to be a Bozo-like action or actions.”

I vote for the idiots in Congress every year.

* Jean Murray talks about year-end payroll tax tasks in her weekly email newsletter at ABOUT.COM.

* Another Congresscritter caught cheating on his taxes.  So Robert W Wood reports in “Congressman Michael Grimm Pleads Guilty To $1M Tax Fraud”.

“Rather than go to trial as he promised, U.S. Representative Michael Grimm of Staten Island, New York has plead guilty on tax charges related to his Manhattan health food restaurant Healthalicious.  The indictment claims that the Republican Congressman failed to pay taxes on $1 million in income and that he hired illegal workers. The charges are serious, even if he weren’t an elected official.

“Among other things, the indictment claims that Mr. Grimm under-reported sales and wages of over $1 million, paid workers in cash under the table, and kept two sets of payroll ledgers. Rep. Grimm allegedly used cash to avoid payroll taxes, income taxes and workers’ compensation premiums. The immigration status of his workers has also been questioned.”

RWW goes on to say (highlight is mine) -

“It is not clear whether Rep. Grimm will seek to maintain his seat in Congress, though he could face discipline from the House of Representatives, including expulsion. It does not appear that he would face automatic expulsion.”

Why not?

The item does not mention whether the idiot will do any jail time. 

So, like fellow tax cheat Chuck Rangel, will his punishment be limited to simply being shamed before Congress? 

* Speaking of Grimm and Rangel, at THE HILL Ben Kamisar reminds Grimm of his comments about Chuck back in 2010 in “Grimm in2010: Tax Cheating 'Unforgivable’” –
 
“At best Mr. Rangel has proven himself to be incompetent of administrating the tax code and at worse, he was cheating on his taxes.  Either way his actions are unforgivable.”
 
Grimm also said at the time -
 
"Americans deserve better from their elected officials.  Ethics are not a political issue; either you have them or you don’t.”

Obviously Grimm "don't".
 
Another Congressional example of “Do as I say, not as I do.”

BTW - the item tells us -

"Rep. Michael Grimm (R-N.Y.) said Tuesday that he won’t resign after pleading guilty to tax fraud."

* A holiday rerun from Jason Dinesen deals with a still current issue for taxpayers with "unrented" property - "From the Archives: Tax Court: Vacant House Can Still Qualify as Rental" - 

"The U.S. Tax Court ruled . . . that a rental home that sits vacant for an extended period can still be considered a rental property."

 

* Let me end the BUZZ on the day after Christmas with "'Twas the Night Before Christmas (Legal Edition)" via TAXPROF Paul Caron.

TTFN