Tuesday, July 16, 2019
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?
* From FORBES.COM’s TaxGirl Kelly Phillips Erb - “Taxpayer Advocate: You Literally Need A Map To Navigate Our Tax System (So They MadeOne)” -
“The map highlights the complexity of tax administration, with its many connections, overlaps, and repetitions between stages.”
* Fellow tax pros – have you seen the July issue of THE TAX PROFESSIONAL yet?
* The IRS has issued a draft copy of a new Form 1040-SR for senior taxpayers. Hey, it is bigger than a postcard.
* And we return to Kelly Phillips Erb, who borrows a lyric from Peter Allen to tell us about another new Form 1040 – the 2019 draft version - in “Everything Old Is New Again As IRS Releases Form 1040 Draft”.
The new 2019 Form 1040 is the same as the previously mentioned Form 1040-SR without the large print and the Standard Deduction Chart.
The 2018 “postcard” Form 1040, actually bigger than a real postcard, was the stupidest thing I have seen in my 47+ years in the business. This new 2019, instead of being half a full 8½ x 11 sheet, as Kelly points out “takes up just 2/3 of the page”. However, it does to some degree bring back the logical flow of the old, far “more better”, Form 1040. There are still 6 additional schedules to supplement the Form, with some minor changes to the content but not the size for 2019.
One item on the 1040 is noticeably missing – the box to check for “full-year health coverage or exempt”. Since the Obamacare “shared responsibility” penalty for 2019 and beyond is “0” the IRS no longer needs to know if you had proper coverage.
THE LAST WORD
Trump is many things – ignorant, incompetent, a liar, a narcissist – but one this he is NOT is a Conservative.
Click here for my latest post at TRUMP MUST GO!
Trump is also obviously not a Christian.
Anyone claiming to be a Conservative or a Christian who supports and defends Trump, the Trump Presidency and Trump’s re-election is NOT a Conservative or a Christian.