tag:blogger.com,1999:blog-6318055043707993918.post8302281908501190884..comments2024-02-20T02:12:18.090-05:00Comments on THE WANDERING TAX PRO: TAX PROS DISCUSS THE EARNED INCOME TAX CREDITRobert D Flachhttp://www.blogger.com/profile/06034127763662917220noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6318055043707993918.post-69727298060265062342015-12-09T08:08:23.459-05:002015-12-09T08:08:23.459-05:00ANON (aka HAPPY TAX PREPARER) –
Definitions of “w...ANON (aka HAPPY TAX PREPARER) –<br /><br />Definitions of “welfare” include -<br /><br />MERRIAM WEBSTER = 2a . aid in the form of money or necessities for those in need.<br /><br />DICTIONARY.COM = 3. financial or other assistance to an individual or family from a city, state, or national government.<br /><br />THE FREE DICTIONARY = 2a. Financial or other aid provided, especially by the government, to people in need.<br /><br />The Earned Income Credit is financial aid by the national (and sometimes state) government to an individual or family assumed to be in need. The Earned Income Credit is a federal, and sometimes state, welfare program.<br /><br />Farm subsidies are payments to farmers not to grow certain crops intended to “manage the supply of agricultural commodities, and influence the cost and supply of such commodities”. They are not welfare. And they are, correctly, not delivered via the Tax Code.<br /><br />TWTP<br />Robert D Flachhttps://www.blogger.com/profile/06034127763662917220noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-73067845512931155512015-12-08T23:27:34.960-05:002015-12-08T23:27:34.960-05:00Speaking of federal welfare, ever heard of farm su...Speaking of federal welfare, ever heard of farm subsidies? It's your opinion, and you know, everybody has one. Credits, even if refundable are not Welfare. I am curious as to why you choose to call these particular credits "welfare" I thought Welfare was more of a get something for doing nothing situation. Again, ever heard of farm subsidies? People are clearly working here, and getting something in return for it. That is not the definition of welfare. BTW you may start out as a consultant, but the minute you start doing their taxes, you become a tax preparer. I also object to the excessive accountability and liability of EITC, but I object more to you classifying the credits as "welfare". Also the issue of whether you work for the IRS or Dept of Treasury is a moot point, they write the rules. <br /><br />Happy Tax PreparerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-70626228758310028862015-12-05T10:03:34.350-05:002015-12-05T10:03:34.350-05:00Anon -
The Earned Income Credit and the Additiona...Anon -<br /><br />The Earned Income Credit and the Additional Child Tax Credit ARE federal welfare programs whose benefits are delivered through the tax return. Your saying that they are not welfare does not make it so.<br /><br />I am NOT a public servant. I am a private consultant. I do NOT work for the Internal Revenue Service or the Department of the Treasury. I work for myself, and, by extension, for my clients. Your saying that I am a public servant does not make it so.<br /><br />I DO all I can to make sure that ALL my 1040 clients take full advantage of ALL the allowable tax benefits to which they are entitled, regardless of how I feel about the appropriateness of providing the benefit via the Tax Code.<br /><br />I DO the appropriate amount of due diligence on ALL my returns. Unless I have personal knowledge to the contrary, or something really smells, I assume that what my client is telling me is true without requesting detailed verification. As I said above, I do NOT work for the Internal Revenue Service, and am NOT required to “pre-audit” a return I am preparing. I object to having to become a social worker and verify that a taxpayer is entitled to receive federal welfare benefits. <br /><br />There is NO direct correlation between one’s honesty and one’s level of income.<br /><br />‘Nuff said.<br /><br />TWTPRobert D Flachhttps://www.blogger.com/profile/06034127763662917220noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-51289532971999797812015-12-03T10:26:05.082-05:002015-12-03T10:26:05.082-05:00Refundable tax credits are social welfare? Really?...Refundable tax credits are social welfare? Really? As a tax preparer, you ARE a public servant in a private practice. Having said that, when you accepted this role for compensation, you agreed to certain standards and the ethics that come with performing the job. As tax preparers, we are responsible for making sure that our clients Qualify for all tax breaks, not just the refundable one's. For a thorough preparer, due diligence applies to every return, not just those with EITC and refundable credits. Tax fraud happens on All Kinds of tax returns, and probably moreso on high income returns, for those who are looking for more tax breaks than they deserve. Anonymousnoreply@blogger.com