Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Archive for August 28th, 2003

Posted by taxguru on August 28, 2003

In line with big government – It seems like the League of Women Voters is just like most of the other supposedly non-partisan groups (AARP, et al) and is a big supporter of the biggest and most expensive government possible.

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Trying To Protect Financial Privacy

Posted by taxguru on August 28, 2003

Gov. Gray Davis Signs Sweeping Financial Privacy Bill Into Law

Washington to Limit Financial Privacy Rights

Financial privacy bill is signed into law in PRC

Governor signs privacy measure. Tough financial-data law faces threat in Congress, Davis says

New state privacy law threatened. Federal law could block bills protecting financial information

Financial Privacy Bill Signed. Consumer groups hail the new law as a landmark victory in protecting Californians. Gov. Davis calls it a model for the nation.

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Posted by taxguru on August 28, 2003

Tax Hawk Group Backs Schwarzenegger

The Huffington Tax Dodge

Petition Seeks to Lower Threshold for Tax Hikes – Just what they need in the PRC; a way to make it even easier to raise taxes.

Alabamians seem to be a lot smarter than their governor in regard to raising taxes.

The Republican Spending Binge

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Non-Resident Taxes

Posted by taxguru on August 28, 2003

I’ve often mentioned how states and cities with income taxes require everyone who earns money inside their borders from services or property located there to pay that State or City’s income taxes, regardless of where the person’s full time home is. This applies to everyone; but is enforced most aggressively against professional entertainers and athletes, who can earn hundreds of thousands of dollars for a day’s work.

Celebrities have the added benefit of having their tax screw-ups exposed to the public, such as this judgment against the boy band NSync, who failed to pay the appropriate income taxes to the City of Columbus, Ohio.

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Posted by taxguru on August 28, 2003

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Raise Taxes At Your Peril

Posted by taxguru on August 28, 2003

I know from personal experience with hundreds of clients that many people have fled the extremely heavy taxation in the PRC by relocating to Nevada. Those tax refugees also brought with them the concept of direct citizen participation in controlling misbehaving rulers.

Recent tax hikes by Nevada’s GOP governor have riled up enough people that they have already started a recall effort against him. This is great, that people are no longer just bending over, grabbing their ankles and letting their State rulers have their way with them and their money.

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State Tax Amnesty Programs

Posted by taxguru on August 28, 2003

The Federation of Tax Administrators has a handy summary of the currently open state tax amnesty programs, as well as all such programs that have been used since 1982.

The amnesty programs currently in progress are:

Florida: July 1 – Oct. 31, 2003

Missouri: Aug. 1 – Oct. 31, 2003

Arizona: Sept. 1 – Oct. 31, 2003

Maine: Sept. 1 – Nov. 30, 2003

Virginia: Sept. 2 – Nov. 3, 2003

Kansas: Oct. 1 – Nov. 30, 2003

New York City: Oct. 20, 2003- Jan. 23, 2004

There are pros and cons to participating in these programs; so examine all of the consequences before jumping in. The biggest con is the fact that the information provided to the State tax agencies will be shared with IRS, which has no amnesty program. You really shouldn’t consider even taking part in any State amnesty program unless you are ready to come clean on delinquent Federal taxes as well.

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