Last week, the Department of Labor released the latest unemployment figures. The good news is that the unemployment rate fell by 0.4% to 8.6% in November. The bad news is that still puts the number of unemployed persons at 13.3 million. On the one hand, I feel for those folks who want to work and…
Here’s why people really hate Congress: these days, it’s all shenanigans. It’s not “what can I do for you?” so much as “what can I do for my friends?” It’s all backroom deals and sneaky tricks. And now we have another one to add to the mix. Rumor has it – and House Speaker John…
It was originally touted as the worst thing that could possibly happen. Okay, the second worst. Yet, the failure to meet the self-imposed Congressional deadline for tweaking the budget came and went last week with relatively little drama. That was surprising after the dire predictions made by members of Congress and the President which sounded…
Nobody likes Monday. This week, the “super committee” really doesn’t like Monday. With three days left to come up with $1.2 trillion in budget cuts, the week will start with the failure to reach a deal. Wait, that’s not quite right… The week will start with the failure to do much of anything. A formal…
Over the years, I’ve represented a lot of clients. I’ve listened to hours and hours of IRS hold music. And I’ve had a lot of conversations with IRS reps and agents. But last week something happened that truly shocked me: the IRS hung up on me. On purpose. The details aren’t all that important. Basically,…
It’s taken the country more than 100 years to make the Tax Code as complicated as it stands today. And yet, in clear DC fashion, Congress is making noise about reforming the code… in a mere two and a half months. Ah, the pandering optimism of Congress. The so-called “super committee” of 12 members of…
(Quick note from Taxgirl: Guest post by Brash Tax in response to the debt ceiling crisis and the Congressional fix. The post was submitted prior to any Super Committee nods or whispers.) Lawmakers are drawing baselines in the sand even before the Super Committee is named. The distinctions among budget baselines are significant. But largely…
Never look a gift Congress in the mouth. What they give today can always be taken away. And if you know Congress, it probably will. Remember the whole Federal Aviation Administration (FAA) ticket tax fiasco? Here’s a brief recap: Congress, squabbling over unions and subsidies, failed to pass a budget for the FAA so that…
I’ll be honest: until about a week ago, I had virtually no clue how aviation-related taxes were imposed or collected. Thanks to Congress, the Air Transportation Association of America (ATA) and the IRS, I’m getting educated pretty quickly. Here are five things you need to know about the current ticket tax controversy: 1. Ticket taxes…
Just a few days ago, we found out exactly what airlines thought of consumers when, after a lapse in the law allowed travelers to catch a bit of a break, a number of major carriers found a way to turn it to their advantage. The glitch meant that airlines wouldn’t be collecting taxes while the…