Tax Guru – Ker$tetter Letter

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Archive for January, 2019

As accurate as any other opinion survey…

Posted by taxguru on January 29, 2019

Poll Finds Most People OK With Raising Taxes On Other People

We Can No Longer Tolerate An Economic System Where The Rich Get Richer And The Poor Also Get Richer

While these may be from the Babylon Bee satire website; who can dispute the fact that they are very accurate representations of the mindset of the DemonRat Party?

Posted in BabylonBee, polls, TaxHikes | Comments Off on As accurate as any other opinion survey…

We’re in for a very bumpy Tax Season

Posted by taxguru on January 16, 2019

All last year, as we learned how messy and complicated the hastily drafted TCJA was, along with the absurdly redesigned 1040 forms, I warned that the 2019 filing season for 2018 tax returns would be a big mess.  Now, with the government shutdown, it is going to get even crazier for everyone, filers and preparers.

Since we are in uncharted waters here, uncertainty and confusion are the words of the Season.  I will try to post whatever useful info I come across on how to cope with this unusual situation.

Here are some resources I have seen:

The IRS official contingency plan for operating during the shutdown – 132 page PDF   

IRS’s Official Press Release on this situation.

Forbes Magazine’s much more concise summary of the IRS plan.

 

Tax Court is also delayed

The shutdown isn’t just affecting the IRS.  Its Tax Court has also been closed down, with trial sessions being canceled all over the country.  This is going to result in even longer delays in getting to trial than has already been the case for years. 

 

[Update 1/24/19]  From Politico:

IRS faces chaotic tax season amid shutdown

[Update 1/25/19] From Washington Post:

At least 14,000 unpaid IRS workers did not show up for work as broad shutdown disruption hits tax agency, according to House aides

[Update 1/26/19] From Washington Post:

IRS will need at least a year to recover from government shutdown, watchdog tells Congress

Posted in shutdown, TaxSeason | Comments Off on We’re in for a very bumpy Tax Season

What won’t the PRC Rulers tax?

Posted by taxguru on January 13, 2019

As anyone knows, an effective parody has to have a strong foundation in real world true facts.  

An excellent comment on the situation in California is this recent piece from the extremely creative satire website, The Babylon Bee.

California Legislature Unveils Plan To Raise Taxes On Wildfires Until They Move Out Of State

As with all of their parody articles, this one is very concise and pithy, as Bill O’Reilly used to say.  Check out the full thing, but this paragraph does an excellent job of describing the very real and very dangerous mindset of the bozos in power in Sacramento.

"Just as we’ve done with various businesses and private individuals, we will levy ever-increasing taxes on the fires," he said proudly. "Once they realize they’re being taxed to death, they’ll move on to greener pastures like Texas or Arizona." Brown said the taxes will be earmarked for public funding and pensions, but quickly added the state will likely "blow through the cash" on crazy pet projects faster than they could bring it in.

[Update 12/13/18]: Proving once again that the PRC Rulers are themselves parodies of actual leaders, they have one-upped the Babylon Bee by proposing to tax cell phone texts.

California mulls tax on text messaging

So, the question is still a very valid one.  Is there anything that the crazies on the left won’t tax in order to steal more money for themselves?  If George Harrison were still around, he would have to add so many things to his TaxMan song that it would be twice as long.

 

[Update 12/20/18]: The Babylon Bee has another great parody that could very well come true, given the environmental wackos’ insane blaming of humans breathing out carbon dioxide for the imminent destruction of the planet.

California Considering Tax On Breathing

This article includes another prediction that has actually already come true as part of the Federal TCJA, with its deduction limit of $10,000 for State and Local Taxes (SALT) on the 2018 Schedule A.

…California had unveiled a tax on taxes, charging residents a luxury tax for the privilege of being taxed.

[Update 1/13/19]:  This is not a parody, but one more indicator of California’s continuing slide into total socialism

Gavin Newsom’s budget calls for new tax on drinking water

Posted in Calif, parody, taxes | Comments Off on What won’t the PRC Rulers tax?