IRS Grants Tax Relief for Hurricane Katrina Victims

  “People affected by Hurricane Katrina have more than enough concerns –– taxes shouldn’t be among them,” said IRS Commissioner Mark W. Everson. “We hope the relief we are providing will help taxpayers in their financial recovery from this devastating storm.”

 

Besides high and complicated taxes, another big area of contention has to do with ridiculous regulations that overly control our personal and professional lives.  This news piece from Spidell, claiming that Illinois and some other states are requiring CPAs to be licensed in their states if they prepare any nonresident tax returns for their states, borders on insanity. 

Maybe it’s because I prepare income tax returns for over 20 states (including Illinois) from here in my home office on a mountain top in the Ozarks. It’s bad enough that I have to maintain my CPA licenses with both Arkansas and California and deal with their different renewal and CPE requirements, even though I haven’t even been to the PRC in twelve years.  To imagine having to go through that with 20 different state boards of accountancy is mind boggling.

Perhaps this is just meant to be a method of generating more business for CPAs who are residents of those states.  My clients who need Illinois tax returns would have to hire an Illinois CPA to do those returns after I prepare the Federal and other state tax returns. 

I can understand licensing CPAs who open physical branch offices within a state.  However, requiring all of  us who may prepare state tax returns from outside their borders is a classic case of over-reaching. 

This help wanted ad was part of today’s email newsletter from the IRS.  While not everyone would be willing to work for the Dark Side, it is interesting to see what they are paying the auditors those of us on the good side have to do battle with.  Using a 2,000 hour work year (50 weeks X 40 hours), it works out to $36 per hour.  Of course, the value of the intangible income (power tripping, striking fear in the hearts of mere mortals, etc.) can only be assessed by each person.

IRS is Accepting Applications for Revenue Agent Positions

The Internal Revenue Service is accepting applications through September 9, 2005 for revenue agent positions in its Large and Mid Size Business (LMSB) Division in a variety of locations.

IRS is seeking tax professionals who are experienced in the areas of financial products, employment taxes, international concerns, information systems (CAS), and general corporate accounting.  Minimum starting salary is $72,035 based on a 40 hour workweek with many opportunities for career advancement. Other benefits include health and life insurance, 401(k) and vacation and sick leave.

Revenue agents within LMSB are responsible for coordinating and administering the tax examinations of the largest national and multinational corporations in America. In addition, revenue agents address a multitude of complex technical tax issues ranging from tax shelters to global operations.

Qualified applicants will be scheduled for interviews in October 2005.  Final selections and job offers will be made in December 2005 with a start date of March 2006.

Although applications will only be accepted online, you may contact your area recruiter with any specific questions: 
West Coast:  Iwona.I.Gwizdak@irs.gov
East Coast:  Rose.Brantley@irs.gov
Central Region: Rosalind.Y.Lewis@irs.gov

 

Equity Is Altering Spending Habits and View of Debt

Withdraw Without Penalty – Eight exemptions related to life cycle events

In spite of the fact that the Left’s lies about the effects of tax rate cuts are consistently disproved, there are still plenty of them calling for their repeal.

Deducting Losses From Side Ventures – IRS loses two cases trying to disallow business losses as being from hobbies.

Spidell has the newly corrected California individual income tax rates for 2005 available in this pdf file.

Estate Tax May Not Be Repealed for Good – RINOs are wimping out from the attempt to remove this vestige of Karl Marx.

Should A-M-T be G-O-N-E?

…AMT affects some four million families this year. Projected out, that figure is going to balloon to roughly 21 million next year and, within 10 years, 51 million taxpayers will learn the meaning of the three-letter acronym, according to statistics supplied courtesy of the Treasury Department.