Posts Tagged ‘Beavers’

Tax Roundup, 9/26/2013: Can dead horses carry preparer regulations? Also: rodent sentences.

Thursday, September 26th, 2013 by Joe Kristan

20130121-2Further reports of the appeals court arguments about the IRS preparer initiative are out, and they bode well for consumers and taxpayers.  The judges seem to have been unimpressed by the arguments that an 1884 law gave the IRS the authority it needs to impose a comprehensive regulatory regime on preparers.  TaxGrrrl explains:

 During arguments, the judges appeared skeptical of the IRS’ reliance on an 1884 statute, the “Enabling Act of 1884,” also referred to as the “Horse Act of 1884″ as sufficient authority to regulate tax preparers. The statute was the result of a post-Civil War concern about the abuse of the claim process for the value of dead horses and lost property during the war. To stem the tide of abuse, Congress granted the Secretary of the Treasury the authority to regulate the admission of agents representing claimants before the Treasury Department (the rise of the modern day Enrolled Agents), and to penalize those who failed to comply with the regulations.

The IRS argues that the law still allows for regulation of tax preparers. The statute predates the modern income Tax Code which was codified in 1913…

The amount of time that passed from the 1884 case and now didn’t go without notice in front of the panel. Consider this brief exchange between Justice Department Tax Division lawyer Gilbert Rothenberg and the panel:

Panel: That’s how many years?
Rothenberg: That’s about a century.
Judge: And then after a century, Treasury suddenly decides these words empower us to do this…?

Whatever the legality of the IRS regulation initiative, it’s bad policy.  TaxGrrrl wisely interviewed a voluble commentator on these issues:

Shortly after the amicus brief in support of the plaintiffs was filed, I called up one of the parties, Joe Kristan, to ask him about his participation. Kristan is a CPA and authors the informative and entertaining Tax Update Blog. He doesn’t have an actual dog in this fight: CPAs are exempt from most of the regulations. So why, I asked, was he involved? He offered a laundry list of reasons: it’s bad law, bad policy and bad for the consumer.

During our call, we both agreed that there are bad tax preparers out there but Kristan used that fact to seize upon one of the main criticisms of the IRS scheme: there are ways of dealing with bad acts and these regulations won’t keep the bad preparers honest. It doesn’t, for example, deal with the issue of fraud in the industry. And, he says, those who can manipulate the system will now have the equivalent of a “seal of approval” from IRS, giving consumers a false sense of security.

But what about those education requirements and the competency exams? Kristan shrugs off the notion that some testing keeps taxpayers safe, saying that the test is a “literacy test, not a competency test.” 

Other coverage:

Russ Fox,  No Loving for Dead Horses in DC Court of Appeals

Chris Stephens, Court of Appeals Not Loving IRS Arguments (Tax Policy Blog)

Kay Bell, IRS’ ‘dead horse’ tax preparer regulation argument doesn’t appear to move federal appeals court: “The consensus of practitioners who heard the arguments, during which the judges were much more critical in their questioning of Rothenberg than Loving attorney Dan Alban, is that the panel will give the tax preparers fighting regulation another victory.”

Link: Audio of oral arguments at the Federal Circuit.

 

“Affordable” Care Act.  So all of the disruption, complexity and higher taxes of Obamacare are worthwhile because it makes health insurance more affordable and available, right?   Andrew Lundeen at the Tax Policy Blog maps out the, um, savings: Obamacare Increases Premiums by As Much As 305 Percent.

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But it’s a better deal as you get older, right?

Some costs are even higher for 40-year-olds. In North Carolina, a 40-year-old man could see an increase of 305 percent and 288 percent in Nebraska. A 40-year-old woman will face increases over 200 percent in both North Carolina and Nebraska as well.

Such a deal.

 

#Tony Nitti, Lost: $67 Million. If Found, Please Return To IRS:

“The IRS has seen its summer from hell extended into autumn, as a report issued today by the Treasury Inspector General for Tax Administration (TIGTA) revealed that the Service cannot account for $67 million that was set aside in a slush fund to help pay for Obamacare.”  

Yup. That’s $67 million of taxpayer dollars that were spent on, well…nobody is quite sure what it was spent on, other than it appears to have used for employee workspaces and technology. In other words…Grand Theft Auto V for everyone!

Remember, we need to increase IRS funding.

 

Cara Griffith, The Rush Is on to Obtain Forgiveness (Tax Analysts Blog). “On Monday, September 23, Louisiana and Connecticut launched tax amnesty programs.”

Jason Dinesen, Glossary of Tax Terms: FICA   

TaxProf, The IRS Scandal, Day 140

Robert D. Flach,  TAX BLOGOSPHERE BUDDIES – JIM BLANKENSHIP

 

Great moments in Economic development.  A story about the wonders of TIF financing from East St Louis, via stltoday.com:

A former Alorton and Fairmont City cop, convicted in state court in April for pulling over a female motorist and compelling her to perform oral sex on him, pleaded guilty in federal court here on Wednesday to wire fraud and tax evasion.

Court documents show that Harry A. “Dink” Halter, 53, admitted to misusing public funds paid to his business, Town & Country Towing of Alorton.

In 2009, Halter got a $24,900 tax increment financing grant to construct a new fence around his business, court records show. Halter admitted in court that he used about $19,000 of the grant for personal expenses.

Halter also failed to report employee wages to the IRS and acted to conceal his income.

I’m sure his neighbors who are paying for the tax break appreciate what the TIF grant did to make Alorton a better place.

 

Pickup lines that never work.   Let’s Have Dinner and Talk About Death (TaxProf)

News from the profession:  PwC Acquired an Interactive Marketing Company Because Why the Hell Not? (Going Concern)

 

Wikipedia image

Wikipedia image

Tax news from the pond:

Beavers Fined, Sentenced To Six Months In Prison For Tax Crimes (Progress Illinois)

Government: Beavers’ sentence too light (WICS.com)

Muskrats ask that sentence not be served during winter.  “They hibernate then anyway.”

 

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Tax Roundup, 3/25/2013. Three weeks to go. And Cargo Cults!

Monday, March 25th, 2013 by Joe Kristan
Ceremonial cross of John Frum cargo cult, Tanna island, New Hebrides (now Vanuatu), 1967 (via Wikipedia)

Ceremonial cross of John Frum cargo cult, Tanna island, New Hebrides (now Vanuatu), 1967 (via Wikipedia)

Heresies of the Cargo Cult.  When some remote societies encountered the industrial world in World War II, they had trouble grasping what they were seeing.  Wikipedia explains:

Cargo cult activity in the Pacific region increased significantly during and immediately after World War II, when the residents of these regions observed the Japanese and American combatants bringing in large amounts of matériel.   When the war ended, the military bases closed and the flow of goods and materials ceased. In an attempt to attract further deliveries of goods, followers of the cults engaged in ritualistic practices such as building crude imitation landing strips, aircraft and faux radio equipment out of bamboo or whatever materials they had at hand, and mimicking the behavior that they had observed of the military personnel operating there.

While it’s easy to mock an islander for building a refrigerator-like box in hopes of conjuring up an icy six-pack, cargo cult behavior also occurs in modern societies.   Without describing it as such, tax historian Joseph Thorndike writes about the cargo cult of the 1950s, where modern policy wonks try to conjure up 1950s-style growth through a ritualistic process of duplicating tailfin-era totems.  For example, Timothy Noah thinks the crushing stated top marginal rates of that era might help generate those Happy Days results.  Mr. Thorndike sees problems with that approach:

We still don’t know if high statutory rates and (relatively) high average rates were a drag on growth. And we can’t know, because we also can’t know what growth might have been in a different tax climate.

Moreover, a range of nontax factors were probably more important in shaping growth patterns in the 1950s. In particular, the economic disruptions of World War II had left the United States in a uniquely dominant position; by one estimate, U.S. manufacturing output constituted 60 percent of the world’s total in 1950.

In other words, it takes more than a bamboo box to conjure up that beer.

After all, the tax system of the Eisenhower era was not a very good one: It paired notionally sky-high rates with a deeply flawed tax base and created distortions both coming and going.

I understand that progressives like Noah are fighting a different battle: They are trying to beat back the rate-cutting mania that often serves as a definition of tax reform these days. But I think we might take a lesson from the tax experts of the 1950s, who understood the problems bedeviling their own tax system. As economist Harold Groves said at the time, “The impression is widely shared that the Congress deliberately throws a high-rate scale to the public as a demagogic bone and then as deliberately allows escapes from taxes that makes these rates specious.”

Mr. Thorndike is more sympathetic to high rates than I ever will be.  Doing taxes for a living, I see first-hand how high rates affect behavior, and I have no patience for academics who say otherwise.  But he wisely notes that simply trying to recreate the totems of the 1950s, like high tax rates, misses all of the other things that put cold beer in the refrigerator.  Same thing goes for other 1950s fetishes like tail fins, industrial unionism and defined benefit pension plans.

 

 

To serve and protect.  Former Pittsburgh Police Chief Charged with Conspiracy, Failure to File Federal Tax Returns (FBI Press Release):

Former Pittsburgh Police Chief Nathan E. Harper has been indicted by a federal grand jury in Pittsburgh on charges of conspiracy and willful failure to file income tax returns, U.S. Attorney David J. Hickton announced today.

The five-count indictment named Harper, 60, of Pittsburgh.

According to the indictment, Harper was the chief of the city of Pittsburgh Police Department. From 2009 to 2012, he caused at least $70,628.92 in checks and cash received by the special events office of the department to be diverted to two accounts at the Greater Pittsburgh Police Federal Credit Union. Using Visa debit cards, Harper obtained more than $31,000 in ATM withdrawals and debit purchases, all for his personal benefit. Harper also failed to file federal tax returns for the years 2008 through 2011.

If he’s convicted, maybe the special events office can throw a little party for the occasion.

 

What could possibly go wrong?  James Timothy Turner was convicted last week of masterminding a cunning plan.  DothanEagle.com reports:

According to a U.S. Department of Justice press release, Turner was convicted of conspiracy to defraud the U.S., attempting to pay taxes with fictitious financial instruments, attempting to obstruct and impede the Internal Revenue Service, failing to file a 2009 federal income tax return and falsely testifying under oath in a bankruptcy proceeding.                           

The FBI began investigating Turner in 2010 after he and three other people sent packages to all 50 governors demanding they leave office.                           

Turner is the president of a group of what prosecutors called “sovereign citizens” known as the “Republic for the united States of America.”

Send “packages” to all of the governors telling them to resign?  Well, at least they weren’t trying to hide what they were doing.

Turner toured the country in 2008 and 2009 teaching seminars that instructed attendees how to submit bonds to pay off tax debt.                           

According to prosecutors, these bonds were completely fictitious and often written for amounts in excess of $1 billion.

Silly man.  Only the Federal Reserve can do that.  Unless we’re talking about the $1 trillion magic coin

 

Every theater needs a dirctor, including economic development theater.  Economic development director accuses senator of engaging in “political theater” over Orascom deal (O. Kay Henderson, via TheBeanwalker)

 

William Perez,  Penalty Relief Available for Some 2012 Federal Tax Returns

Jack Townsend,  Ethicist Question About Tax Professionals Exploiting Loopholes:

So, for those tax professionals engaging in such transactions that they know violated a known legal duty, their conduct is illegal and unethical.  For those transactions engaging in such transactions where they don’t know (perhaps are willfully ignorant) that the conduct is illegal (ultimately most of the b—-t tax shelters are found to be
illegal), then at least the ethical issues arise.  These are smart professionals, paid (supposedly) to predict what a court will do with the b—–t tax shelter.  Yet, in the prominent civil cases that swat down b—–t tax shelters, they fail miserably in their predictions.

 

Kay Bell,  A tax lawyer has ethical problems with tax loopholes

Janet Novack,  How Much Tax Will You Owe On A $320 Million Powerball Jackpot? A Lot More Than In 2012 .  I knew I should have arranged to win that Powerball last year.

Jim Maule,  Tax Meets the Chicken and the Egg

Trish McIntire,  Extensions

Patrick Temple-West,  Athletes’ tough tax bills, and more

TaxGrrrl,  Senate Passes Budget, Calls For Nearly $1 Trillion In Tax Increases

You are required to go to the party.  The Affordable Care Act Turns 3 (Richard Morrison, TaxVox).

 

The Critical Question: Who Will Play Margaret Fuller When The Movie Comes Out ?  (Peter Reilly)

Tony Nitti, IRS Employees’ Star Trek Parody Is As Wonderfully Awful As It Sounds

Russ Fox,  To Boldly Go Where No IRS Employee Has Gone Before…

You mean it’s not a documentary?  IRS Releases Gilligan’s Island Parody Training Video (TaxProf).

Frankly, they don’t give a dam. Beavers defiant after convicted of tax evasion (Chicago Tribune)

 

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Tax Roundup, 3/15/13: Corporate return day! And: Can you audit a myth?

Friday, March 15th, 2013 by Joe Kristan

Calendar-year corporation returns are due today! They are easy to extend on Form 7004 if you can’t finish them today.  If you don’t extend an S corporation return and you file late, the penalty starts at $195 for each late K-1, and $195 each for every additional month the return is late.

 

If Iowa's tax law were a car, it would look like this.

If Iowa’s tax law were a car, it would look like this.

Joseph Henchman,  Iowa House Passes Alternative Maximum Tax: Income Tax Option Clear of Carveouts (Tax Policy Blog).  Joseph has some good things to say about the Iowa alternative tax that passed the house this week (HF 478):

I’ve never filled out an Iowa income tax form but it looks like one of the harder state tax returns. Iowa allows you to deduct what you pay in federal income tax, which is nice but is that much more calculation work (and probably drives up tax rates). There are lines for the lump-sum tax, the minimum tax, the K-12 textbook credit, the school district surtax, the motor fuel tax credit, and the earned income tax credit. I’m sure each one of these has their explanations of necessity but together it sounds like a lot of paperwork, record-keeping, and Tax Filing Day frustration.

Hence, I’m impressed by a bill passed yesterday (House File 478)  by the Iowa House which would offer an alternative to all Iowa taxpayers: a 4.5 percent tax on all income above about $15,000, which no further deductions or exemptions. It’s not perfect: our friend Joe Kristan pointed out that a credit for taxes paid to another state and a deduction for federal interest are probably constitutionally required, and offsetting deductions to certain kinds of income (allowing gambling losses if you tax gambling winnings) is good policy. But as Joe said, the bill “is a welcome step towards improving Iowa’s income tax.”

I’m hoping it’s a step towards the Tax Update Quick and Dirty Iowa Tax Reform Plan.

 

 

It’s a myth, so they’re cracking down on it!

Huffington Post, The Millionaire Migration Myth: Don’t Fall for This Anti-Tax Scare Tactic.

Bloomberg News, States Crack Down on Top Earners Who Flee as Levies Rise: Taxes

If they feel have to “crack down” on something, maybe there’s something to that myth.

 

The Ultimate Swiss Army Knife. Flickr Image courtesy redjar under Creative Commons license.

The Ultimate Swiss Army Knife. Flickr Image courtesy redjar under Creative Commons license.

Janet Novack,  Blame Congress, As Well As H&R Block And IRS, For College Tax Credit Mess. Oh, I do!  From the article:

Far be it from me to let either the Internal Revenue Service or tax prep giant H&R Block off the hook for the current mess which has delayed refunds for more than 600,000 taxpayers claiming college tax credits by up to eight weeks. In addition to their operational missteps, both did a poor job (at least  initially) of communicating with taxpayers who desperately need those refunds to pay tuition or other bills.

But let’s put some of the blame where it rightly belongs: on the Washington politicians. For more than two decades, Congress has been expanding  “tax expenditures” with little regard for how complicated such provisions might be for taxpayers to use and for the IRS to administer,  let alone for whether they do enough good to justify their cost and the economic distortions they create.  A new 1065-page Congressional Research Service compendium lists 250 different tax expenditures. Happy reading.

Every little break like this diverts IRS resources from actually collecting income taxes and makes the income tax a little less effective and useful.  Yet Congress still sees the tax law as the Swiss Army Knife of public policy.

 

Jim Maule,  Tax Depreciation: Do the Math:

No matter how well a student in the basic tax course masters the depreciation deduction to the extent it is studied, that student knows that the total depreciation with respect to a property cannot exceed its cost. All of the students would find themselves bewildered by the proposition that depreciation deductions on a property that cost $34,799 would total $56,000.

So was the Tax Court.

 

Tony Nitti,  Golfer Sergio Garcia Comes Up Short In Tax Court, But Is The Decision A Victory For Other Athletes? He won on his endorsement royalty income, so while he may not have had an undisputed win, he did OK, like a PGA golfer who gets second-place prize money.

 

William Perez,  Delays in Issuing Tax Refunds Related to Education Tax Credits

Going Concern,  IRS Won’t Be Sorry If You Never Get Around to Claiming Your Refund.  Over $900 million in 2009 refunds will be out of reach of their rightful recipients after April 15, when the 3-year window for claiming them expires.

Trish McIntire, Don’t Lose Your 2009 Refund

 

Paul Neiffer,  Will Large Farmers Be Able to Use Cash Method in the Future?!  Farmers should get the same tax rules and breaks everyone else does, no less and no more.

Kay Bell,  Will a relationship neutral tax code save traditional marriage?.  Not every problem is a tax problem.

Howard Gleckman, The Ideological Chasm Between the House and Senate Budgets

William McBride, Dave Camp Floats a Rewrite of Small Business Tax Rules (Tax Policy Blog)

 

Jack Townsend, U.S. Taxpayer Pleads to FBAR and Tax Perjury Violation

Brian Mahany, IRS Agent May Be Headed To Prison For Info Leak – Whistleblower Protection

Brian Strahle, State Tax Revenues:  Corporate Income Tax Not That Important?

Oh, Goody.  Applying for Obamacare Subsidies Will Be as Complicated as Doing Your Taxes (Megan McArdle)

 

Argo pay your taxes.  It turns out Iowa isn’t the only government whose film tax credits attract scammers.  From London comes this via Boston.com:

In some ways ‘‘A Landscape of Lies’’ was a typical indie film, with a tiny budget, a B-list cast and an award from an American film festival.           

What made it special is that it was created solely to cover up a huge tax fraud.

In fact, officials say, the project was a sham, set up to claim almost 1.5 million pounds in goods and services tax for work that had not been done, as well as 1.3 million pounds under a government program that allows filmmakers to claim back up to 25 percent of their expenditure as tax relief.

No word on whether Leo Bloom prepared the fraudulent returns.

 

News you can use: Polish Up Your Guccis. (Christopher Bergin, Tax.com).

Will there be tax reform? I think there has to be. But I don’t think it will look like theTax Reform Act of 1986 because, in short, it’s not 1986, and we don’t have the same problems or even the same tax system. That doesn’t mean there aren’t a lot of lessons to be learned from the ’86 experience. But I don’t think tax reform will happen soon. And a few of the reasons I think that come right out of “Gucci Gulch.”

I have a copy of Showdown at Gucci Gulch, the book about how the 1986 tax reforms were enacted.  I haven’t brought myself to open it; it seems too much like reading about my job.

 

TaxGrrrl,  Arrest of Dancing Mascot Puts Liberty Tax Wavers In The Spotlight

He should have hidden the cash across the pond.  Opening statements underway in Beavers tax evasion trial (WGNtv.com)

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Tax Roundup, 1/29/2013: The best tax proposal ever. Also: tax season delayed for students and parents.

Tuesday, January 29th, 2013 by Joe Kristan
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Flickr image courtesy Pasa47 under Creative Commons license

A Tax I can support!  Tax the Revolving Door (Glenn Reynolds)

In short, I propose putting a 50% surtax — or maybe it should be 75%, I’m open to discussion — on the post-government earnings of government officials. So if you work at a cabinet level job and make $196,700 a year, and you leave for a job that pays a million a year, you’ll pay 50% of the difference — just over $400,000 — to the Treasury right off the top. So as not to be greedy, we’ll limit it to your first five years of post-government earnings; after that, you’ll just pay whatever standard income tax applies.

Plus make them wear clown clothes to work.  (Via the TaxProf)

 

Allysia Finley,  Mickelson and the Sports Star Tax Migration (Wall Street Journal):

About 3.5 million Californians have migrated to other states over the past two decades. Almost anywhere they chose to go would allow them to enjoy greater returns on their labor. Is it really surprising that athletes like Mr. Mickelson might be keeping an eye on the leaderboard?

It would be surprising if they didn’t.

 

Kyle Pomerleau and William McBride:  EITC Awareness Day (Tax Policy Blog)

Research has shown that the EITC is associated with higher workforce participation among certain populations.  However, Casey Mulligan’s research shows there is no free lunch here, since the EITC creates disincentives to work over the income range in which it phases out (roughly $20,000 to $50,000).  And because the EITC is one of many overlapping anti-poverty programs, such as unemployment insurance, they all add up to huge disincentives to work among the poor.

And some Iowa politicians want to increase the Iowa EITC, making it a bigger poverty trap.

 

Steven Rosenthal,  Chairman Camp Agrees: Too Many Choices Burden our Tax System (TaxVox)

Jeremy Scott, Huffington Post Draws Tenuous Link Between Camp Plan, Fix the Debt Group (Tax.com)

Robert D. Flach,  GUIDELINES FOR TAX REFORM:

Recognize and acknowledge that the purpose of the federal income tax is to raise the money necessary for the administration of the government and government sponsored programs.  It is not to be used to “redistribute income” or as a method for delivery of social welfare and other government benefits.

If that principal were vigorously applied to the tax law, the 1040 would fit on a postcard.

 

Climb in the Cavalcade!  Worker’s Comp Insider hosts the latest Cavalcade of Risk roundup of insurance and risk-management posts, including Insureblog on the Curly Bulb Menace.

Russ Fox,  Form 8863 Added to Returns that the IRS Won’t Accept Just Yet.  The form for tuition credits.

William Perez,  When Can You Begin Filing Your 2012 Federal Tax Return?

Jason Dinesen,  Taxpayer Identity Theft, Part 11.  In which the IRS ignores the change-of-address filing and mails a long-delayed refund to the wrong address.

Martin Sullivan, Taxing Financial PollutionOn the futility of a financial transactions tax. (Tax.com)

Missouri Tax Guy,  What you’ll Need.  A guide to gathering your tax return information.

TaxGrrrl,  Tax Season Kicks Off January 30th: Here’s What’s On Tap

Jack Townsend,  IRS Issues John Doe Summons to UBS (All Over Again)

Kay Bell,  Deducting sales tax on your new car … or boat or airplane or home

What does his politics have to do with anything?  Liberal man sentenced to federal prison for tax evasion (Topeka Capital Journal Online)

What does his species have to do with anything?  Beaver County sheriff’s deputy convicted of tax evasion (Pittsburgh Post-Gazette.com)
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Tax Roundup, 12/4/12: Lohaus rejected. So is GOP cliff proposal.

Tuesday, December 4th, 2012 by Joe Kristan

Iowa Department of Revenue blocks Lohaus shot at refund.  Ex-Iowa basketball star Brad Lohaus is remembered for, among other things, taking a ball in the face while guarding against an inbounds pass.  That feeling might have come back when Mr. Lohaus was recently denied a tax refund by the Department of Revenue.

According to a newly released letter denying a protest filed by Mr. Lohaus, he didn’t get around to filing Iowa income tax returns for 2001 through 2005 until July 2010.  The department of Revenue began collection action, including wage garnishment, in 2007.  The returns filed in 2010 showed some overpayments, but the Department denied refunds on the grounds that the statue of limitations had expired.   From the protest denial letter (my emphasis):

In their protest, taxpayers raise the following points to support their position.

1.  The Department did not notify them that there was a one-year statute of limitations at the time the wage garnishment began.

2.  Normal Iowa taxpayers have no way of knowing the rule of the one-year postdate matter with the Department disclosing the implication of the effects of lost payments.

3.  Taxpayers filed their returns in good faith that the Department would refund any overpayments of the garnished funds to them.

4. Due to the trust the taxpayers had in the State of Iowa together with personal circumstances, taxpayers are petitioning that the Department refund overpayment of $36,379.66 to them.

Pro tip: never trust the State.  Especially when the rules are on their side.  From the denial letter:

Telephone conversations with Mr. Lohaus show that he was repeatedly advised to file returns.  These returns were not filed with the Department until July 12, 2010. 

 Notification of the statute of limitations concerning Iowa income tax refunds is found in both Departmental rule 701 IAC 43.3 (8) and Iowa Code §422.73.  Both the Iowa Code and the Department’s administrative rules are published and available for public review.  Every citizen is presumed to know the law. 

The statute on refunds in Iowa reads:

A claim for refund or credit that has not been filed with the department within three years after the return upon which a refund or credit claimed became due, or within one year after the payment of the tax upon which a refund or credit is claimed was made, whichever time is the later, shall not be allowed by the director.

The taxpayer was eligible for amounts garnished within one year of the filing, but not older payments.

The moral?  File your returns, even if you have an overpayment.  If you let the statute of limitations expire, they get to keep it.  And they don’t have to warn you that they will.

 

TaxProf,   IRS Releases 159-Page Proposed Regs on New ObamaCare Medicare Taxes.  Just in time for me to teach them to the Iowa Bar tax school Thursday.  Thanks, IRS.

Paul Neiffer,  IRS Issues Proposed Regs on 3.8% Medicare Surtax

Anthony Nitti,   The Elf On A Shelf Will Haunt Your Kid’s Dreams, And More Thoughts On The Obamacare Investment Tax

 

White House rejects GOP fiscal cliff counteroffer (AP)

Wrong. They feel they need a distraction.  Democrats Needlessly Insisting on Rate Hikes (Martin Sullivan,  Tax.com)

Concern Trolling:  Why the Tea Party Is Bad for Conservative Tax Policy(Jeremy Scott, Tax.com).   When you see Todd Akin listed as a Tea Party candidate (he was more a creature of the social conservative wing of the GOP, not the Tea Party wing), somebody is being lazy.

Linda Beale,  Republican “fiscal cliff” proposal

 

Please please please:    Ohio Considers Changes to Complex Municipal Tax Codes(Julia Morriss, Tax Policy Blog)  If you have to have something as stupid as a municipal income tax, at least do it like Iowa, as an add-on to the state filing.

Please no!  It’s Beginning to Look a Lot Like… Tax Season (Trish McIntire)

Kay Bell,   Tax moves to make in December 2012

While doing their best to prevent them:  France Struggles to Tax Corporate Profits (Robert Goulder, Tax.com)

Actually, writing big checks can cause poverty, for those writing them.   There’s More To Fighting Poverty Than Writing Big Checks And Claiming Tax Deductions  (Janet Novack)

Robert D. Flach posted his Saturday Buzz right on time over  the weekend.  Catch it!

Maybe people could file forms reporting their fraud so they can measure it?  IRS Tax Fraud On The Rise But Actual Size Of Problem Hard To Pin Down: Report (Huffington Post)

Muskrats exempt from service on this jury.   Jury selection to begin in Beavers tax evasion trial

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