The proposed budget includes 5100 new IRS Agents. Is the the Change the voters wanted?  A simplified tax system would go a long way towards eliminating the needless waste of paperwork preparation. CPAs might actually start helping clients make money as opposed to engaging in various tax schemes.  The WSJ notes this is the next…

Wed Jan 12 2010 These four states are the US equivalent of the European PIGS Portugal Ireland Greece Spain.  The IL Senate wants to raise taxes 66%.  Other governors are making fun of this disaster. Neighboring Indiana says this is a good idea, for Indiana! How bad is it, check out this blog http://www.illinoisisbroke.com/ Meanwhile…

Wed Jan 12 2010 Here is a short article on tax reform. Steve Forbes suggests that you should be able to do your tax return on the back of a post card, the original 1913 form was that way, and then Congress got involved. 

Wed Jan 5 2011 Congress has created a real headache. When the Nancy Pelosi Congress was running amok passing every regulation they could imagine, one slipped under the radar. There is a provision that everyone paying someone else more than $600 must issue a 1099 to the recipient and send the 1099s to the irs…

Monday Dec 27 2010 We last visited HR Block on Dec 8 of this year. We noted HRB had adopted a strategy of lending Tax Anticipation Loans to customers. Now the government has struck down some of that  business. Desperate, HRB even sued their ultimate lender, HSBC, which does not sound like a particularly good idea…

Wed Dec 8 2010   H & R Block was started by two brothers when they got out of the Army. Their original idea was a firm to assist small business, everything from store window decorating to, oh who knows, filing taxes. After a few months they discovered business wanted one thing more than any…

Tuesday Dec 7 2010 This video puts the $100 M of 'budget cuts' in perspective. Out of $3.5 Trillion it is of course nothing so why did the President mention it. Because he knows most people are lost amid such large numbers. 

Tues Dec 7 2010   This may be the end, of the estate tax that is. This is a particularly onerous tax. The 'idea' was to break up estates of the wealthy, but of course it never accomplished that. The wealthy move that to various trusts. Inflation has meant that many individuals are now worth…

The Most Ethical Congress in History    Charles Rangel has his swagger back, but not his power. The 40-year congressional veteran on Thursday became the 23rd House member in the nation's history to be censured for misconduct. Beyond the stain on his career, the censure will have little, practical effect. Rangel's seat appears safe as…