* Kelly Phillips Erb – aka FORBES.COM’s “TaxGirl” –
keeps us up-to-date on the progress at the IRS in “IRS Faces Huge Backlog Of Unopened Mail As Workforce Returns” (highlights are mine) -
“So, there's some good news: The Internal
Revenue Service (IRS) is processing paper tax returns.
And then there's some not-so-good news: The estimated
backlog of unopened IRS mail stands at 11 million.
Realistically, that means that taxpayers who filed
returns by paper have experienced significant tax refund delays.”
* The first of the tax year 2021 inflation
adjustments have been announced. The
NATP BLOG reports “HSA contribution limits to increase in 2021” -
“According to Revenue Procedure 2020-32, for
individuals with self-only coverage under a high deductible plan, the annual
limitation on deductions is $3,600. This figure is up $50 from this year’s
$3,550.
For an individual with family coverage under a high
deductible health plan, the annual limitation on deductions is $7,200, up $100
from this year’s $7,100.”
So, I have the first entry in my “What’s New for 2021”
report.
* From Kay Bell, the yellow rose of taxes, at DON’T
MESS WITH TAXES – “Still waiting for your COVID payment? IRS has answers on what to do to get or track your money”.
* Speaking of
the economic stimulus payment, have you seen my previous TWTP post “Understanding the Economic Stimulus Payment”?
* Russ Fox
identifies the “2020 Best States for Business: Bring Me (mostly) the Usual Suspects”, and the worst states, too, at TAXABLE TALK.
Hey, NJ is
NOT the worst for a change – it is #47. Three states are worse than NJ.
* William
Baldwin (no, not “that” William Baldwin) explains “Why You Should Keep Tax Records For More Than Three Years” at FORBES.COM –
“Three
years of documents won’t cut it. Seven years is more like it. Some tax records
should be kept on hand until you’re dead.”
I certainly
agree. I first gave similar advice here
on April 27, 2007. And I updated my
advice on August 18, 2014.
THE LAST WORD -
THE LAST WORD -
It continues
to remain impossible for me to understand how anyone – other than an ignorant
racist or someone who puts his own personal self-interests above everything
else – could possibly support, even reluctantly, Trump and his continuance in
office.
He is clearly
ignorant and incompetent. He is clearly
totally self-absorbed and does not care about anyone or anything but
himself. It is obvious that he is completely
devoid of humanity, honor and integrity and does not possess a single redeeming
positive human quality.
There is no
intelligent or rational reason to support and defend Trump the man or Trump the
President.
TTFN
No comments:
Post a Comment