Depart, I say; and let us have done with you. In the name of God, go! Chief Senate taxwriter Max Baucus won’t run for re-election. (Dealbook, via Going Concern).
Sen. Baucus has been either chairman or minority leader of the Senate Finance Committee for decades, and along with his partner in crime, Sen. Grassley, he bears great responsibility for the nightmare the tax law has become, including Section 409A, the Net Investment Income Tax, The First Time Homebuyer credit, Section 199… Good-bye, before you wreck any more trains.
Linda Beale, Baucus Will Not Run in 2014 (yay!)
Congratulations to Paul Caron, proprietor of the TaxProf Blog, on his move from Cincinnati to Pepperdine in Southern California.
Kyle Pomerleau, No Surprise: The Overly Complex EITC is Plagued with Billions of Dollars in Improper Payments (Tax Policy Blog)
Patrick Temple-West, Obama budget taxes more Americans, and more
Tony Nitti, Quantifying The Recent Tax Increases: What Is A Wealthy Taxpayer’s “Fair Share?” As far as some people are concerned, it’s always more than they are paying.
Daniel Shaviro, Senate vote on the “Marketplace Fairness Act”
Howard Gleckman, Five Things You Should Know About the Online Sales Tax Bill (TaxVox). He thinks it’s just lovely.
Joseph Henchman, Senate Voting This Week on Expanding State Authority to Collect Internet Sales Taxes (Tax Policy Blog)
Clint Stretch, Getting It Wrong: Energy Tax Policy (Tax.com):
Winston Churchill said that Americans can be counted on to do the right thing, after we have exhausted all other possibilities. He might have added that we usually start with the least direct and most complex approach. So it is with the energy tax policy expressed in President Obama’s FY 2014 budget.
I like this sentence: “By their nature, tax credits add complexity to the law and often reward behavior that would occur even without the credits.”
Robert D. Flach asks, DIRECT DEPOSIT – IS THERE A PROBLEM?
So far two clients have contacted me to report an issue – one with a 2011 refund andone with a 2012 refund. In both cases the refund was not directly deposited to the requested account. Instead it was applied to the subsequent year’s estimated tax. It was as if the taxpayer, or I, had entered the full amount of the refund on Line 75, although we clearly did not.
This isn’t a problem I have seen. Robert famously doesn’t e-file his returns. I wonder if it’s a simple keypunch error at the service center.
Jason Dinesen, In a Same-Sex Marriage? Watch Your Federal Tax Withholding
Jim Maule, Putting It in Writing Makes Good Tax Sense. If you use the right words, of course.
Peter Reilly, How To Shatter The Public Accounting Glass Ceiling ? Sometimes I think it’s that women see the hours and stress involved and wisely say “screw this.”
Robert D. Flach is buzzing again!
I love my hometown: Elvis impersonator engages police in 30-hour standoff in Des Moines (RawStory.com, via The Beanwalker)
Stoned people should not throw glass bongs in houses. Glass bong breaks two state windows (Jason Clayworth)
Tags: Baucus, Clint Stretch, Daniel Shaviro, Des Moines, Howard Gleckman, Jason Dinesen, Kay Bell, Kyle Pomerleau, Linda Beale, maule, Patrick Temple-West, Peter Reilly, Robert D Flach, Tax Trials, TaxGrrrl, TaxProf, Tony Nitti