Most Recent Posts
Paycheck Protection Moving In The Senate
There is nothing in either of the two pieces of HEALS that have been released on deducting expenses that are funded by forgiven PPP loans. The IRS in Notice 2020-32 ruled that the expenses were not deductible, which seemed to contradict what Congress intended when it deemed the forgiveness not taxable.
Clearing that up one way or the other would avoid a lot of litigation in the coming years.
Paul Hansen And Kent Hovind Go To A Bridge Tournament To Play Crazy Eights
I prefer board and card game analogies. Litigation is like a duplicate bridge tournament. There are strict rules about when you can bid and you have to be open about what your bids mean. There are also strict rules about how you play. And there is the etiquette on top of that. I like to say that Hovind and Hansen go into court and play crazy eights because that sounds funny. What they actually play is TEGWAR – The Exciting Game Without Any Rules, which ironically is explained in a baseball movie Bang The Drum Slow (go to 0:46)
My Hovind Posts As Youtube Stars
Three very clever, somewhat snarky people read two of my posts making comments as they went along, They only had two hours, so they did not get to the third posts. It was very gratifying that the remarks on my work were quite positive.
IRS Misdated Notices – Some Mystery Remains
It would seem that unless I have a very bad sample, the percentage of misdated notices that went out without explanatory inserts is substantially more than the minuscule percentage reported by the IRS. Something tells me we will be reading a TIGTA report about this. Well, I’ll probably read it. Whether I report on it or not will be determined by my mood and what else is going on.
Second Stimulus Check – Wait For Something To Pass
Way back on June 1, 2020, which seems like eons ago, HR 6080 was passed by the House of Representatives and went to what is usually the final resting place of anything the House passes – the Senate.
The bill included an additional “rebate amount” of $1,200 plus $1,200 for each dependent up to three. Phaseout starts at $75,000 single, $112,500 HOH and $150,000 joint modified adjust gross income. The modifications relate to exclusions for income earned outside of the fifty states and DC
Marching Through Georgia – Class Action Lawsuits Against Conservation Syndicators
Regardless among the most colorful members of the faculty were the sergeants. Sergeant Daley, in particular, would pepper his instruction with anecdotes about Army life. One of his stories was about being in a bar in Atlanta shooting pool. He started whistling Marching Through Georgia (which perhaps was going through a revival thanks to Tennessee Ernie or maybe because it celebrates one of the great achievements of the United States Army).
A couple of fellows looked at him kind of ominously and then one of them walked up to him and politely but firmly told him “We don’t like that tune around here very much”.
Trump Tweet On Universities Invokes Specter Of Supreme Court Bob Jones Decision
Now in the Trumpian view of the universe, public policy is what President Trump says it is. So protecting the kids from “Radical Left Indoctrination” is public policy. If any of that is going on at your university, as the Soup Nazi would put it – No exemption for you.
Make The IRS Great Again
Regardless, there are some people who instead of honing selling and political skills become great accountants. Some of them are very compliance oriented. They get frustrated by things not being right, because things should be done right, because right is right even though the client doesn’t want to pay for it and the IRS will never figure it out.
That’s who the IRS should be hiring. In many areas of tax practice the best and the brightest work for the IRS for a few years, then go into public accounting or the law firms for much bigger money. The IRS should turn the tables and grab up the compliance-oriented people who know where the bodies are likely buried. IRS could offer good benefits, a better work life balance and a great deal of perverse satisfaction.
If The IRS Plays Politics With Tax-Exempts, President Trump Is Holding A Smoking Tweet
But there’s a nontechnical problem, too, which is in many ways worse. President Trump seems to want to emulate the worst aspects of President Nixon. Nixon tried to use the IRS to attack his enemies. And Trump wants to use the IRS to attack people and organizations with which he disagrees. Fortunately, there are protections in place making it hard for him to use the IRS this way. But he’s proven particularly effective at ignoring and subverting norms; this is one that I hope he doesn’t manage to subvert
What Mary L Trump Needed Was Forensic Accounting
In 2017, Mary was approached by the New York Times. She told them that she did not have any documentation, but they suggested that the attorney might. As it turned out there was a trove of documents, which she turned over to the Times.
According to her account, those documents would prove that her grandfather’s estate was worth a billion dollars.
Taking this at face value, the question is why were there not forensic accountants and independent appraisers going through those boxes before settlement? No offense to the Times, but they probably would have figured it out a lot quicker than a team of investigative reporters.