As I’ve mentioned several times over the past many years, my most frequently used reference books are those produced by QuickFinders, which I have been buying for each of the past 20+ years.  With the never ending growth in the tax laws and rules, having a handy easy to use book is obviously a growth market for the tax practitioner community.  

Several weeks ago, I ordered a copy of CCH’s brand new 1040 Express Answers.  It arrived yesterday and I’ve had a chance to flip through it to see what all it contains.  I was very impressed with it and expect to be using it quite a lot. They’ve actually included a lot of additional info that the QuickFinders books don’t have, such as factors to use when calculating the prices of stocks that have been through a lot of splits since their purchase.

The one thing I was wondering about is how CCH intends to provide the inevitable updates to the book’s content during the year for their customers.  I looked around their website and couldn’t find an update page comparable to the one that QuickFinders has. I wrote to them about this and am still awaiting a response. 

Q:

hi , i check your web page and it look great.  i am preparing the tax return for my girlfriend father, the father put her as his dependent, she is 26 years old the father pays part of the tuition for her to go to college.  can he claim the lifetime learning credit|?
 
thank you

A:

As long as your girlfriend meets all of the tests to qualify as her father’s dependent, he would be able to claim the credit for her education costs.  I can’t find any age limit on qualifying dependents in the rules for the credit.  Of course, the father’s AGI would also have to be under the “Evil Rich” phase-out threshold in order to qualify for the full credit.

Kerry Kerstetter

Matt Drudge had this story about an Ohio city tax superintendent who was suspended for trying to add some humor to the tax instructions, such as:

If we can tax it, we will.

Free advice: if you don’t have a profit in a five-year period, you might want to consider another line of work.

It seems that these are more like candid looks at the attitudes of the officials, especially the first one.

How to Track Down Foreclosure Properties – Some good tips for real estate investors. 

Bush calls for fairer tax code – Since the words “fair” and “taxes” don’t go together in any logical sense, the most we can ever really hope for is “fairer.”

Tax reform that would flatten the opposition – Some more support for Stephen Moore’s postcard tax return proposal.

The Psychology of Raising Taxes. The method is to reduce our consciousness of pain. – Out of sight, out of mind, through withholdings, has made it impossible for most people to have any idea how much they pay in taxes. 

Homeowners Revolt Against Tax Assessors – As it should be.  The increases will never be controlled if the property owners don’t speak up.  1978’s Proposition 13 in the PRC was a perfect example of this.  Silence equals assent to our rulers, who will continue to financially rape anyone who accepts it without an argument. 

Keeping Score on Tax Reform

Alternative maximum tax gimmick

Social Security Pushing Taxes to Back Burner

Bush to Propose $500 Million Funding Increase for IRS Enforcement

President Bush’s 2006 Budget to Request Boost for IRS Enforcement

Court: Taxpayers can ignore IRS summonses. Ruling says action has no teeth without federal court order. – We’ll have to wait and see if this ruling has any actual effect on aggressive IRS collection actions.

Tax rates vs. revenues – It’s amazing how the left continues to deny reality, that lower rates generate more taxable activity an thus more actual revenue.