No Free Lunch Edition
Why We Need Strong Tax Authorities

Marsha is a Yoga Teacher, fully self-employed, had never taken a college course in her life. She is now being audited by the IRS. They are saying her W-2’s were not reported correctly. She has no W-2’s. They want proof of the higher education credit she claimed. There is no such claim on her tax return.

Willie forgot to report a stock sale on his 2016 tax return — he submitted an amended return, which accurately showed that the sale had no affect on his 2016 taxes. He received correspondence from the IRS asking him to consent to a tax increase, and did not even cite the amount.

Paula did forget to report a W-2 on her taxes. Two years later, she received a bill from the IRS for the tax due — plus interest and penalties, two years worth.

The IRS has been a political punching bag for decades, and the toll on customer service has been devastating. Budget cuts, a hiring freeze and an ancient computer system — results are frustrating for taxpayers, accountants and hard-working IRS staff (yes).

You won’t hear “Fund the IRS” as a campaign slogan, but properly supported tax authorities keep taxpayers honest, provide a huge “return on investment”, decrease the chance of errors and let your CPA focus on saving you real tax money.

Because You Asked

Tina and I have had three great, short vacations this season: Provincetown, Chicago and Delray Beach, Florida (for Tina’s family gathering). Yonah plans to travel abroad, Malcolm did an internship at a local library and accompanied me on a second trip to Chicago. (Love Chicago!)

Meanwhile we have stayed busy at home with our Air B and B and local political campaigns.

ARCHIVES!
Past issues include:

The New Tax Law
Year-End Tidbits
Social InSecurity
Non-Profit Registration Headaches
What’s The Use Tax?
Social Enterprise
Breaking Up is Hard, says Jew (Divorce)
Injured Spouse Relief!
Keeping Records
Registering a New Business
Student Loans
Making A Living As an Artist