Congress’ overstuffed turkey

Bush, Republicans Sign Up for World’s Largest Credit Card

Sandra Bullock Sought Advice of Tax Scammer – One of the repercussions of the prosecution of promoters of illegal tax evasion schemes is the requirement to divulge their client list to the government, which then goes after them.  In some cases, those names are also made public.  

Centrists and conservatives join forces for fiscal restraint

IRS Chief Pleads for Bigger Budget

IRS Audits More of the Wealthy and Fewer Small Companies

Seven Ways to Save on Taxes (Just Don’t Wait Until 2005)

Nonprofits Get Caught in the IRS’s Sights

Another Omnibus Spending Bill Loaded with Pork – And the GOP is still considered the party of fiscal restraint and limited government?

Tax Fraud and the Medical Profession

IRS’s Recap of the Newest Tax Laws

Conrad Seeks Answers on Return Disclosure Language – It’s CYA time in the halls of power in DC. It must have been an immaculate conception because everyone is denying paternity.

The state and local tax deduction may not be around much longer.

Retirement isn’t just a date. It’s a new life.

Leading Foe of Income Tax Is Arrested After Car Chase – Another casualty of that idiot Joe Banister, who was also finally arrested for his part in this illegal tax evasion scam. 

Investment Tax Cuts Pushed as Bush Eyes Tax Reform

GOP Constituencies Split on Tax Change – It’s the same old divide and conquer strategy against tax reform that I’ve mentioned several times.

Privacy Concerns in Spending Bill – I’m glad to see that this issue has been receiving so much press.  Hopefully, it will prevent further attempts of this kind.

Istook Denies Inserting Taxpayer Privacy Measure in Omnibus Funding Bill – Lots of finger pointing over who was the culprit responsible for trying to slip the invasion of privacy power into the legislation. Maybe it was Santa’s elves, so they can check and see who is naughty and nice.  

Borrowers Find System Open to Conflicts, Manipulation – Another illustration of how much the deck is stacked against the small investor in the big stock and bond markets.  People rely on the allegedly independent credit rating firms to assess the potential risk; yet they don’t seem to be as accurate as is needed for a safe and well reasoned investment decision.

Be Happy, Put Retirement Fears to Rest

Congress Approves Omnibus Appropriations Bill Despite Disclosure Glitch – The most interesting part of this news story is this: 

The section would have allowed “agents” designated by the chair of either chamber’s Appropriations Committee “access to Internal Revenue Service facilities and any tax returns or return information contained therein.”

For anyone who remembers how Presidents Nixon and Clinton used the IRS to attack and persecute their political enemies, this kind of thing isn’t a positive addition to the tax code and it should frighten anyone concerned about privacy that such language is being sneaked into legislation.