So here it is – the last BUZZ of 2022.
* Michael Cohn gives taxpayers and tax preparers some bad news at ACCOUNTING TODAY. It appears the “IRS tax return backlog will continue into 2023 filing season” -
TTFN
THE WANDERING TAX PRO Up-to-the-minute advice, information, resources, and, on occasion, commentary on federal and New Jersey state income taxes, and the various New Jersey property tax rebate programs, and insights and observations on tax policy and professional tax practice, by 50-year veteran tax professional Robert D Flach.
BEST WISHES FOR A MERRY CHRISTMAS!
There is reason to celebrate this holiday season. Thankfully intelligence and patriotism won out over ignorance, bigotry and treason in many places, including my home state of Pennsylvania, in the November mid-term election.
ROBERT D FLACH AND TURBO
The 2022 New Jersey state income tax forms, schedules and instructions are now available at the NJ Division of Taxation website. Click here.
There are a few changes that are effective for tax year 2022 – some new tax benefits are available on the 2022 NJ-1040. Click here to see what is new for 2022.
There are only two changes to the 2022 Form NJ-1040 -
Line 37 (a), (b) and (c) reports the new NJBEST deduction.
Line 65 reports the new NJ Child Tax Credit of up to $500 for each dependent child age 5.
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The IRS has issued the final version of the series 1040 forms and schedules. To see the final forms go here and enter “Form 1040” at FIND.
There have been several minor changes to the Form 1040. The final 1040 is the same as the previously issued “draft” version –
* The virtual currency question has been refined for those involved with BitCoin and other “virtual” or “digital” investments.
* While the amount of content on each page has expanded the 1040 still does not completely cover a normal 8½ x 11 page (as the pages of the 1040-SR do). God only knows why.
* Line 1 to report wages, salaries, tips, etc, from Form W-2 has expanded, for some unknown reason, to 10 “sub-lines” to separately report a multitude of obscure wage-based income items. If separate identification was needed why is it not added to Schedule 1? These new lines are a waste of 1040 space and only add to taxpayer confusion.
* A Line 6c under the reporting of Social Security benefits has been added as a checkbox to indicate the taxpayer is making a “lump sum election” for Social Security reporting.
* The line – 12b last year – for claiming the “non-itemizer” charitable deduction has been removed since this deduction has expired and is not available for 2022.
* The sub-lines for Line 27, where the Earned Income Credit is claimed, have been eliminated as the special considerations applicable on the 2021 return that necessitated these additional sub-lines have expired and are not available for 2022.
* Line 30 – used in 2021 for the Recovery Rebate Credit – remains on the 2022 Form 1040 identified as “Reserved for future use”.
Similar changes have been made to the 2022 Form 1040-SR.
TTFN
I was just told by Blogger (host/publisher of this blog) via an email -
There was good news to celebrate yesterday.
Intelligence and patriotism won out over ignorance, racism and treason in my home state of Pennsylvania. January 6th insurrection participant and QAnon-supporting Mastriano, one of the worst and most dangerous candidates in any contest this election, was defeated by Josh Shapiro, and John Fetterman defeated TV snake oil salesman Oz. And Matt Cartwright, the House representative in my district, also won. Thankfully, for the most part my fellow Pennsylvanians did not fall for the multitude of lies promoted by Republican candidates and in Republican TV ads.
In more good news, several Democrats held on to or actually flipped state houses in races for Governor, insuring additional protection for freedom, democracy and true American values on state levels. The Arizona race has not yet been decided, but the truly dangerous Trump ass-kissing candidate Kari Lake is trailing slightly. Fingers crossed for her defeat. Of course, if she loses, she will erroneously claim voter fraud. Unfortunately, the despicable and deplorable Republican Governors of Texas and Florida will remain in office for another term to continue to promote their dangerous Religious Right agenda.
Another victory - ballot questions protecting women’s reproductive rights and acknowledging the legality of abortion won in several states.
In a still undecided race brainless idiot Lauren Boebert, one of the dumbest Republican candidates in a field full of morons, appears to be losing her bid for re-election! Unfortunately, fellow moron Marjorie Taylor Greene (it is difficult to know which of the two is the biggest moron) easily won. As did pedophile Matt Gaetz.
The fact that the race for Senate in Georgia was so close, with the fake Christian “Evangelicals” of the racist and repressive Religious Right supporting moron Walker over an actual Christian minister, is proof of the continued danger to freedom and democracy from these hypocrites. The closeness of most races across America indicated that there are truly too many morons, racists and individuals without a conscience in America today.
To those who voted Republican yesterday I say “shame on you”. Your vote was a betrayal of true American values and of American freedom and democracy. Every person who voted for an election-denying or Trump-supporting candidate is guilty of participating in seditious conspiracy and an accomplice to treason.
As was observed by many TV journalists – the election has shown us America is still divided. But the divide has nothing to do with political philosophy. It is not liberal vs conservative – it is intelligence and patriotism vs ignorance and racism. Thankfully, there continues to be more intelligent and patriotic Americans than morons and racists.
Clearly there is still work to be done. We must remain vigilant and continue to fight against today’s Republican Party – still the most dangerous threat to America, the American people, American values, and American freedom and democracy.
TTFN
Tomorrow is Election Day. This election is perhaps the most important election in at least my lifetime (I will turn 69 later this month). You MUST vote like your life depends upon it – because it does!
It is vitally important for the future of America, true American values, and American freedom and democracy that EVERY intelligent and patriotic American regardless of political orientation – every libertarian, conservative, moderate, progress, and liberal - vote against EVERY Republican candidate in EVERY election at EVERY level.
Today’s Republican Party has totally abandoned all integrity and credibility and has totally abandoned all true Conservative and traditional Republican values, philosophy and policies. Today’s Republican Party is controlled by the racist and repressive Religious Right, bought and paid for by the NRA, and completely embraces ignorant, incompetent, corrupt, crooked, and treasonous demagogue Trump and his lies.
I am not saying this because I am a Democrat or a “liberal”. I am not, and have never been, a “card-carrying” member of the Democratic Party or the Republican Party or any other Party. In the past I have voted for Democratic, Republican and third-Party candidates, liberal, moderate and conservative, in various federal, state and local elections, based on the issues and the individual candidates. I am saying this because I have a brain and a conscience and a true concern for the safety and security of America and American democracy.
I very seriously and sincerely believe that the greatest threat to America today is the Republican Party. And I very seriously and sincerely believe that if Republicans gain control of Congress and state legislatures tomorrow it will be the beginning of the end of America as we know it!
The bottom line –
VOTE
TOMORROW AGAINST EVERY REPUBLICAN CANDIDATE FOR EVERY ELECTION AT EVERY LEVEL!