Tax Guru – Ker$tetter Letter

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Archive for July 9th, 2003

2002 Extensions

Posted by taxguru on July 9, 2003

While the first extension for 2002 1040s doesn’t run out until August 15, there are some that are up on July 15. The first extensions filed by April 15 for Fiduciary (1041) and Partnership returns (1065) are only for three months. These always have a way of sneaking up on me since I am usually so focused on 1040s.

Three more months of time can be obtained by filing Form 8800 by July 15 for both 1041s and 1065s. This brings their due dates into synch with the second extension date for 2002 1040s, October 15.

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Posted by taxguru on July 9, 2003

Senate Panel Hears Proposal to Reduce Pork – This is as likely to have an effect on the out of control spending as it is to expect Bill Clinton to keep his hands to himself while visiting Hooters. Some temptations are too strong for weak-willed people to resist. The only solution for those rulers who consider the Federal Treasury to be their private piggy banks is to check the spending scorecards of all incumbents next year and vote the ones out who have been spendaholics, regardless of party affiliation.

Besides violating their avowed dislike for big government spending, the GOP rulers in DC have abandoned their hatred of government regulation. The latest Federal Register is the longest in history (75,606 pages for 2002), to accommodate the flood of new regulations promulgated by our rulers.

Anyone who is truly a fan of low taxes, less government spending, and fewer regulations can’t be very satisfied with the performance of the GOP. There is still a political party that hasn’t abandoned those principles. Sending a few more Libertarians to DC would surely send a wake-up message to the RINOs who take their conservative base for granted.

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Posted by taxguru on July 9, 2003

The cliche used to be that the deficit was caused by the Demonrat controlled Congress spending like a bunch of drunken sailors. Are we better off now that the drunken sailors are Republicans?

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