Sorry for the dearth of posts here this month. We are in the middle of relocating our offices and things have been quite hectic. I expect to make up for it in October. Thanks for your patience. Bookmark & Share:
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Entries from September 2010
Blogging Drought
September 29th, 2010 · 1 Comment
Tags: Tax Blogging
Sixty Percent of Economists Say Extend ALL Bush Tax Cuts
September 29th, 2010 · Comments Off
From Paul Caron: CNN, Economists: Extend Bush Tax Cuts for Everyone: [A] majority of a panel of leading economists surveyed by CNNMoney.com said that the tax cuts should be renewed for everyone. Bookmark & Share:
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Tags: Tax Policy
University of Florida Professor Says we Should Increase Taxes on Alcohol
September 24th, 2010 · 3 Comments
Racheal Rettner of LiveScience.Com tells of a new study that says raising taxes on alcohol is a good thing: Increasing the tax on alcohol could have a slew of public health benefits, according to a new study. Boosting the price of booze could decrease the incidence of alcohol-related deaths and car crashes, reduce the spread of [...]
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Tags: Tax Policy
IRS to Intensify Collection of Unpaid Payroll Taxes
September 24th, 2010 · 1 Comment
According to WebCPA the Treasury Inspector General for Tax Administration (TIGTA) says that a larger percentage of IRS collection agents are not following the proper procedure in payroll tax cases: The collection of taxes through employment tax returns is a significant source of revenue for the federal government. As of Sept. 30, 2009, the total IRS [...]
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Tags: Payroll Taxes · Tax Collections
2 Year Innocent Spouse Rule Again Invalidated by Tax Court
September 23rd, 2010 · 1 Comment
Paul Caron reports that the Tax Court has flouted the 7th Circuit’s ruling in Lantz v. Commissioner, invalidating IRS regulations requiring that spouses seeking innocent spouse relief request that relief within two years of the first collection action: A divided (8-5) Tax Court yesterday (in a case in which Tax Prof Ljubomir Nacev(Northern Kentucky) represented the taxpayer) [...]
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Tags: Court Cases · Innocent Spouse Relief
TIGTA Says IRS Private Letter Rulings are Processed too Slowly
September 20th, 2010 · 1 Comment
The Internal Revenue Service’s Office of Chief Counsel should improve the timeliness of the private letter rulings it issues and reduce the number of rulings issued, recommended a new government report. Private Letter Rulings are provided by the IRS chief counsel to interpret and apply the tax law to taxpayers’ specific set of facts and advises [...]
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Tags: IRS procedure
Unenrolled Tax Preparer Outfit Shut Down for Tax Fraud
September 16th, 2010 · 1 Comment
Orlando television station WFTV reports of yet another unenrolled tax preparer outfit that bites the dust: An Orlando tax preparer may have single-handedly cheated the federal government out of at least $1 million. Investigators shut down the Lancaster Tax Service on Wednesday. The tax service is accused of making up dependents and deductions, for things like [...]
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Tags: News · Regulation of Tax Preparers · Tax Crimes
