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Tax Guru-Ker$tetter Letter
Wednesday, December 21, 2005

State Budgets Boosted by Bush Tax Cuts, Analysts Say – Just another example of the fact that lower Federal tax rates stimulate more economic activity, resulting in more tax dollars.


Sarbanes-Overkill – John Stossel looks at the biggest beneficiaries of the SOX laws, accountants.


Tax Practice Across State Lines – As I’ve mentioned a few times before, Spidell has been following the issue of whether CPAs who prepare out of state tax returns need to be licensed by those states.  In this latest announcement, Spidell links to Art Berkowitz’s website, where he has an Excel sheet available for download that shows the rules for each state for both individual and business income tax returns. 

After looking over his spreadsheet, it seems that the rules are still very nebulous, with some states allowing out of staters to prepare tax returns, as long as they don’t use their CPA designation, and others that don’t want to regulate unless you actually step foot inside the state.  As someone who prepares tax returns for dozens of states that I never visit, I’m not planning to go through any more licensing than what I already have with Arkansas and the PRC.


New IRS Stats Show Bush Tax Cuts Shrinking Revenues, Magnifying AMT Does anyone else smell some book cooking here? This is a very different spin on the numbers than other reports have shown.   


Tax Cut Conference to Wait Until February, Grassley Says There’s nothing better for tax planning than mid-year changes in the laws.


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