If Congress fails to act today, automatic spending cuts take effect that drastically reduce government outlays to more than they were last year. Some commentary:
Gene Steurle, How to Avoid Sequester and Give Both Parties What They Want (TaxVox)
Michael Giberson, Sequester Reporting Scavenger Hunt: Official Rules (Knowledge Problem): “If you find a news story emphasizing the pain of sequester budget cuts that also clearly indicates that alternatives such as raising taxes or increasing the national debt also cause pain, you are a winner.”
The last refuge of rich scoundrels. Patriotic Millionaires Slam Congress on the Sequester Stall (press release)
Fire and brimstone coming down from the skies! Boehner Tells Members They Have to Fly Commercial
Real wrath-of-God stuff. Potential effects of U.S. cuts on Iowans remain a mystery (Des Moines Register)
Kay Bell, Tax cheating is unacceptable, say most Americans
Joseph Henchman, Wisconsin Governor Walker Proposes Income Tax Reduction. He would leave the top rate at 7.75%. Still too high. It’s even above Iowa, if you take Iowa’s deduction for federal taxes into account.
Tony Nitti, House Republicans Take First Stab At Killing Off The Tax Code
Dan Meyer, Another Tax Season, Another Warning: Watch Out for “IRS e-mail” Scams
Russ Fox, Illinois’ Pension Problems Get Worse; Lottery Checks Bounce
Cara Griffith, Stealth Lobbying (Tax.com)
You’re as young as you feel. UBS Client, 78, Charged With Tax Evasion in Illinois Case (Bloomberg.com)
The worst part is, they don’t have PTINs or continuing education. IRS: Gang members stealing tax returns (ABC-7.com)
Tags: Anthony Nitti, Cara Griffith, Dan Meyer, Gene Steurle, identity theft, Joseph Henchman, Kay Bell, Michael Giberson, Patriotic Scoundrels, Russ Fox, sequestration, tax crime
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not necessarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to
