Tax Guru – Ker$tetter Letter

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Archive for September 13th, 2011

0Bambi’s Typical Tax Policy…

Posted by taxguru on September 13, 2011

 

 

From Blog Comix

 

 

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2010 Estate Tax Returns

Posted by taxguru on September 13, 2011

It’s an understatement to say that the entire issue of estate tax returns for people who passed away in 2010 is a confusing mess.  IRS is even more confused and behind than anyone, so they just issued this news release.

IRS Offers Filing and Penalty Relief for 2010 Estates; Basis Form Now Due Jan. 17; Extension to March Available for Estate Tax Returns

Form 8939, to reflect carryover basis info, isn’t even available yet; but it’s now due to IRS by 1/17/2012 instead of the previously announced deadline of 11/15/2011.

Form 706 and its instructions were finally published last week, on 9/8/2011.

IRS Notice 2011–76 has more details.

Luckily, the estate tax for 2010 decedents only applies to estates of over $5,000,000, so it won’t affect most people, including our clients who passed away last year.

 

TaxCoach Software: Are you giving your clients what they really want?

 

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Posted by taxguru on September 13, 2011

From Blog Comix

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NewsBusted Tax Jokes

Posted by taxguru on September 13, 2011

There were a couple of good ones in the latest episode.

 

 

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Dealing with an IRS Criminal Investigation

Posted by taxguru on September 13, 2011

This week’s episode of Breaking Bad had a sub-plot where the hero’s wife had to deal with her former boss cheating on his taxes. While this is very amusing, it is very unrealistic. I’ve encountered plenty of dense IRS auditors, but any agent would be able to see that the company’s books weren’t being kept on Quicken.

If the player doesn’t show up above or is blocked in your region, try this alternative direct link.

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