Tax Guru-Ker$tetter Letter
Saturday, March 20, 2004
Child tax credit causes 1.35 million return goofs - This exact same problem happened a few years ago, when people forgot whether or not they had received an advance refund check from IRS during the year. I had a few dozen clients where IRS jogged their memory by adjusting their tax returns to account for the fact that they had indeed already received those payments and weren't entitled to them again with their tax returns. That kind of sloppy bookkeeping was one of the reasons we have been forcing more and more of our clients to enter everything into QuickBooks; so that we can look for those advance refund checks before preparing the tax returns and avoid the embarrassment of having IRS catch this mistake.
Web Site Shows Neighbor Campaign Donations - You can type your zipcode into this site and find out what people in your area have legally donated to the various presidential candidates. The illegal donations and laundered ones, where employers give their workers money to donate, take a little more digging to uncover.
Mental-health tax drive advances - The rulers of the PRC never tire of thinking of new ways to squeeze money out of people and giving them reasons to move to other, less hostile, states. A plan to add a new tax of one percent of gross (not taxable) income over one million dollars to fund mental health is itself bordering on insanity. Of course, it plays directly to the DemonRats' main constituency, the "hate the rich" crowd; so it could actually have a chance of becoming law if Governor Arnold doesn't veto it.