Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

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Archive for August 8th, 2002

Posted by taxguru on August 8, 2002

Delete All Spam

What kind of idiots are actually stupid enough to buy things advertised in spam that is by its very nature designed to hide who it’s from? Whoever is patronizing these scum merchants, stop it right now so they will no longer be able to afford to send out their garbage.

It would also be a good idea if someone could visit these guys in person and do a number on their computer equipment with a good old Louisville Slugger. Such a person would be a true hero in the cyberspace world.

KMK

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Posted by taxguru on August 8, 2002

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Posted by taxguru on August 8, 2002

This Is News?

Rich Hollywood lefties want taxes to be higher for everyone. They’re always so generous with everyone else’s money.

KMK

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Posted by taxguru on August 8, 2002

Bush Spending More Than Clinton

One of the mantras that we in the Libertarian Party have long used is that there isn’t a dime’s worth of difference between the two major political parties. While the JackAss Party has a well deserved reputation for big tax & spend programs, the Bush administration is doing everything possible to blur the distinction between the two parties. According to this article, Bush is currently out-spending Clinton.

While I’m sure he is doing this to attract normally Democrat voters in 2004, he is just sealing his fate as another one term Bush presidency. Most Demonrats have such a visceral hatred of Republicans that nothing will cause them to vote for Bush. Likewise, many Republicans will sit out the election or vote for someone else as a way of punishing Bush in the same way as they punished his father in 1992 for breaking his “No New Taxes” pledge. The presidency of Hillary Clinton is looking more and more like a certainty.

KMK

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Posted by taxguru on August 8, 2002

More Budget Fraud By Our Rulers In DC

I have discussed on several occasions why the numbers released by our rulers in relation to the effects of tax law changes are completely bogus because they use static analysis, which says that people’s behavior doesn’t change as a result of law changes.

All attempts to switch to the more realistic dynamic analysis, which takes into account real life demonstrable behavior changes, are beaten down. This means that any official government figures should be considered as credible as a Bill Clinton denial of sex with Monica or any of the hundreds of other women he has used for his perverse pleasure.

KMK

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Posted by taxguru on August 8, 2002

Best Investment Possible

I have long explained that the most lucrative investment possible for a business is a political donation. For a mere $100,000 contribution (aka bribe) to one of our rulers in DC, s/he will gladly repay you with millions of dollars in tax breaks or government contracts. There is no higher rate of secure return possible anywhere. Similar rates of return are common practice with donations to State & local politicians.

This is how the game is played in DC as its power and scope continue to grow. It hasn’t changed any under the control of the supposedly fiscally conservative GOP, who just funnel the same government largesse to their donors. It won’t change a bit with the recently passed unconstitutional campaign finance reform measures.

What triggered this reminder of that fact of life is this story about a casino company that is in bankruptcy and is pleading to the bankruptcy court to allow it to continue paying out its political campaign contributions (bribes) as an essential business expense.

KMK

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Posted by taxguru on August 8, 2002

2001 Extensions

The first extensions for 2001 1040s expire on August 15. It is a simple task to obtain two more months, by sending Form 2688 to your IRS service center. If it is postmarked by August 15, you will be considered as timely requesting the extension.

The 2688 is a little different than the first extension (4868) that was sent in by April 15. The 4868 is for an automatic four month extension, and is supposed to include a payment for any tax expected to be owed with the 1040. It also has no place for a signature.

No money needs to be sent with the 2688. It extends the filing date by two months, to October 15. It needs to be signed by you or your representative. It also needs a reason. While many people think they need a fancy reason, the following language has been working well for the past 20+ years.

We are unable to assemble and compile all of the information that we require to prepare a complete & accurate tax return by August 15.

For a number of reasons, I am filing a lot more 2688s this year than I normally do. Because of months of computer problems, as well as several client emergencies that dominated my working time, I am extremely far behind with 2001 tax returns. I also have some clients who don’t want to send IRS their tax returns until October so that they won’t be among the 2001 tax returns from which IRS will be selecting 50,000 at pure random for its excruciating in depth examination, as I described here.

If you need more time after October 15, you may be able to receive official permission from IRS if you have a very good reason, or if a blanket extension is given for everyone affected by a big disaster, as was the case after the terrorist attacks last September 11.

If the next attacks don’t come before this October 15, valid reasons accepted by IRS include most events that seriously affect your life, such as changes in marital status, deaths, health problems, and moves where your records are still boxed up.

KMK

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Posted by taxguru on August 8, 2002

Clinton Cooked The Books

This isn’t news to anyone who has been following my writing; but now others are finally realizing that the Clinton Gang completely fabricated the Federal budget numbers. With the Federal Debt never decreasing, I am still amazed that anyone believed that there ever was really a surplus. It was all a scam, supported by the media propaganda machine.

Queen Hillary and her Fellow Travelers have been exploiting this lie to the fullest, claiming that Bush has squandered the financial discipline that the Clinton Gang had established with his (Bush’s) “enormous & irresponsible tax cuts for the evil rich.” There was never any financial discipline; just fabricated numbers to fool the American public.

Don’t expect to see this mentioned by the mainstream media, who still worship the Clintons and are doing everything they can to help Hillary get her own two terms in the White House.

KMK

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