Wednesday, February 9, 2022

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

 

For now, there is no regular schedule for the BUZZ.  I will post when I accumulate enough items.

* Professor Annette Nellen is asking for help in “Dealing with 1099 Errors - Input Desired” at 21st CENTURY TAXATION -

I'm working on a paper for a longstanding activity of the Tax Section of the California Lawyers Association to propose that the IRS create a new form to allow taxpayers to reconcile erroneous reporting forms. . . Any examples you'd like to share with me to support the need for a tax form for reconciling information reports to avoid or hopefully at least lessen the number of notices issued by the IRS asking why the form wasn't fully reported.”

* BLOOMBERG TAX provides a 2-part update on the various highly-taxed states’ attempts to help their residents legally evade federal income taxes in “SALT Cap Workaround: Pass-Through Entity Tax Update Part I and Part II”.   

* Kay Bell lists “3 medical tax breaks prompted by COVID-19” at DON’T MESS WITH TAXES.

NJ taxpayers – while you may not be able to get a federal deduction for medical expenses you may get a deduction on the NJ-1040.  And remember, whatever is deductible as a medical expense on the federal return is deductible as a medical expense on the NJ return.

* Michael Cohn gives us an update on the IRS attempts to fix its current total FU-ness in “IRS works to overcome processing backlog, automated notice problems” at ACCOUNTING TODAY.  

THE LAST WORD  

Let's be honest - anybody who thinks January 6th was "legitimate political discourse" is a fucking moron.

TTFN








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