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

* Have you seen the latest “issue” of THE LAKE REGION SOMETHING yet?  A new “issue” will be posted on August 16^th. 

* Michael Cohn identifies another reason that the use of private collection agencies to collect tax debt is truly a very bad idea in “Problems found with security at private tax debt collection agencies” at ACCOUNTING TODAY – (the highlight below is mine)  

“The private debt collection agencies that have contracted with the Internal Revenue Service to help collect overdue tax receivables have some security vulnerabilities, according to a new government report.

The report, from the Treasury Inspector General for Tax Administration, examined security at the four collection agencies that have been hired by the IRS. A 2015 highway transportation bill, the FAST Act, revived the IRS’s private debt collection program, even though the IRS had twice before shut it down because it ended up costing more money than it brought in and consumers complained of being harassed by the collection agencies.”

* It’s that time of year again.  Kelly Phillips Erb, FORBES.COM’s TaxGirl, tells us “IRS Warns TaxpayersTo Remain On Alert For Charitable Scams During Hurricane Season”. 

* Jason Dinesen answers the question “Does My LLC Need a New EIN?” at DINESEN TAX TIMES.

* If you have a free afternoon, and you are interested in the topic, KPE and Tony Nitti (also of FORBES.COM) provide detailed and extensive primers on the newly released IRS regulations on the new Section 199A deduction –

KPE = “IRS Issues Proposed Regulations On Section 199A Deduction For Solos & Pass-through Businesses”

Tony = “IRS Provides Guidance On 20% Pass-Through Deduction, But Questions Remain”

THE FINAL WORD

Donald Trump the man is a worthless piece of garbage – self-absorbed, self-important and devoid of character and humanity.

Donald Trump the President is ignorant, incompetent, unstable, and dangerous.

The Trump Presidency is unacceptable. Defending Trump is indefensible.

If the Republican Party is to survive it must denounce and disown Trump.

Any candidate in the upcoming mid-term election who openly supports and defends Trump, and does not openly oppose and denounce him, must be defeated.

If Trump lasts until the 2020 campaign he must be vocally and aggressively opposed in the Republican primaries. He must not be allowed to be the 2020 Republican candidate for President.

TTFN