Ain't It Wonderful How Congress Helps Our Business?

[kcjenkins]

"Ever since World War II taxpayers have been able to use the standard deduction, a shortcut that gives them some value for deductions that would otherwise have to be itemized. Two-thirds of filers avail themselves of the convenience, which this year is $5,700 for a single and $11,400 for a couple filing jointly. All too simple. Now they are going to work a little harder for their writeoff.

For 2009 returns certain filers will have to fill out a separate form ..."

http://www.forbes.com/forbes/2009/0921/out...dard_print.html

"Think you've seen it all regarding ways that tax complexity can hit the average guy? That's pretty much what Claudia A. Hill, a Cupertino, Calif., tax pro, who edits CCH's Journal of Tax Practice and Procedure thought until she reviewed the Internal Revenue Service's draft forms for tax year 2009. These are the forms taxpayers will be wrestling with next April."

http://www.forbes.com/2009/08/28/tax-forms...bill_print.html

[Wayne Brasch]

KC,

Congress is so great at helping our bank accounts, aren't they? It is amazing how complex they can make things that could be so simple.

Wayne Brasch

[JohnH]

Looks like 2010 will be the year for another "across the board"increase in tax prep fees.

[Catherine]

Looks like 2010 will be the year for another "across the board"increase in tax prep fees.

If only to pay for our valium prescriptions.... :spaz:

[joanmcq]

well the 4684 is required for a casualty loss regardless, so that's nothing new. As for the rest of it; heck I thought the sales tax on cars was going to be an adjustment to income; I guess they didn't want it to reduce AGI. The Forbes article said it was available if you took the income tax deduction, but not if you took the sales tax deduction. But a deduction for cars was always available for the sales tax deduction!!!

Yep; new forms, new charges.

[JohnH]

If only to pay for our valium prescriptions....

Catherine:

Forget the Valium.

It's time to adopt the attittude that "I don't GET stress from my clients; my job is to PROVIDE it for them."

[bstaxes]

I've looked but can't seem to find a copy of the new forms L & M. Anybody have a link or a place find the forms.

[Karen Lee]

Couldn't find them at the irs.gov site but googled "draft tax forms" and got an irs site that has the draft forms.

Karen

[bstaxes]

Karen Lee,

Thanks. Did not think to Goggle.

[TAXBILLY]

http://www.irs.gov/app/picklist/list/draftTaxForms.html

taxbilly

[joanmcq]

I prefer Xanax myself. Sigh. Now if someone would just answer my Oregon question...

And NY is even making EAs & us out of state CPAs register & cough up $100 bucks. Guess my two NY returns get a bounce too.

[Catherine]

I prefer Xanax myself. Sigh. Now if someone would just answer my Oregon question...

And NY is even making EAs & us out of state CPAs register & cough up $100 bucks. Guess my two NY returns get a bounce too.

I have seen your Oregon question but know nothing about Oregon. I sympathize! It's tough to wait for an answer when you really need one.

Thanks for the news about NY; now I want to get one of those "I (heart) NY" shirts and draw a big "X" over the heart. Grrr.

[Lion EA]

Think under ten NY returns and not stepping foot in the state exempts you. But, some provisions (EAs exempt) got left out of final bill. I'm not paying the $100 until NY gets through with amending, technical corrections, etc. I guess I can then justify raising my NY rates!

[Don in Upstate NY]

Think under ten NY returns and not stepping foot in the state exempts you. But, some provisions (EAs exempt) got left out of final bill. I'm not paying the $100 until NY gets through with amending, technical corrections, etc.

There was never any talk about exempting EA's that I heard of. This is a REVENUE bill - NY needs the cash. NY CPA's and NY attorneys already pay the state for the privilege of making a buck - EA's do not.

Later on when they add the continuing education and/or testing requirements (with the associated fees) then we can argue about EA's being exempt from those fees. But until then ... pay the man in Albany.

[The good news - there was talk of making tax preparation fees subject to sales tax. That didn't go thru. ]

Don (EA in Upstate NY)

[joanmcq]

yeah, I took another look and no $100 if I don't do over 10 and didn't do over 10 last year. whew. I've been paying OR for the privelege of being able to rep there (and my ^&%$R employer won't reimburse even though its for my frikkin JOB), and really don't want any more fees...