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Most Recent Posts

Name Drop

Name Drop

Lamar Smith has given me another guest post.  Since it mentions me explicitly I will give some extended commentary at the end....

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Association For Honest Attorneys Has No Attorney Members And No Longer Has Tax-Exempt Status

Association For Honest Attorneys Has No Attorney Members And No Longer Has Tax-Exempt Status

Ironically, Ms. Farr’s approach is similar to what happens with some attorneys when they end up in Tax Court.  Rather than going through the tedious process of documenting transactions as an accountant would, they make arguments about process.  That is what happened with the great F Lee Bailey  Some good accounting and a better audit trail might have been the salvation of AHA.  Rather than an honest lawyer, perhaps AHA could have been saved by a reasonably competent accountant.

I don’t doubt Ms. Farr’s word when she says she will appeal, so I will be on the lookout for the next decision in this saga.

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NWTRCC Wants Tax Day To Be Peace Day

The organization National War Tax Resistance was formed in 1969 as a response to the surge in interest in income and telephone tax resistance, and at its peak had 192 chapters. War tax resisters also sought support from organizations like Peacemakers and War Resisters League. Many resisters gave their taxes to alternative funds that redirected the money to community organizations more deserving of financial support.

During the length of the war, many prominent individuals took up resistance. For example, in 1968, the Writers and Editors War Tax Protest took out ads in three publications, listing writers and editors who pledged to refuse to pay the income tax and/or telephone tax. Signers included Howard Zinn, Allen Ginsberg, Grace Paley, Frances Fox Piven, Adrienne Rich, Helen and Scott Nearing, Kurt Vonnegut, and Philip and Daniel Berrigan.

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Stop Calling It Tax Day

Stop Calling It Tax Day

Tax season and the focus on “the fifteenth” has other pernicious results.  Things that are really important that don’t have an externally imposed deadline attached to them are put off until “after the fifteenth”.  And “after the fifteenth”, there is a tendency to operate at a lower rate of urgency.  And the real nightmare is very complicated returns that slip past the due date through no fault of the firm.  It can end up being almost impossible to get them prioritized since being “already late”, they are of lesser importance than other returns that can be “on time”.

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Some Tips For The Upcoming Tax Deadline – No Fooling

Really.  If there are still issues that prevent you from filing an accurate return, next week, put together a good extension calculation, file the extension (Form 4868) (You may have to also file some state extensions), and relax. Most of the tax season drama is, well, drama.  One thing that tax professionals will never admit – even to themselves – is that they actually like tax season.  They have a job that is rather tedious, not at all dangerous, and not really that challenging intellectually.  Tax season drama creates a sense of camaraderie and makes them feel special.

Among the people who should definitely extend this year are those affected by the Bitcoin hard fork in August.  Also if you are party to a deferred like-kind exchange and have not closed on the replacement property, you must extend to have the full 180 days.

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