So following up on yesterday’s post about the proposed tax relief for debt cancellation related to foreclosures, I wonder, “Is it fair?” Today’s Fix the Tax Code Friday question is: Should Congress offer tax relief to those who are affected by the housing market (those in foreclosure)? Should Congress offset the lost revenue by limiting…
In case you missed the bickering, here’s a clip: (Author’s note: the video has since been removed.)
The House has approved legislation that would end the extremely unpopular program that allows private collection agencies to collect tax debts for the IRS. The IRS had previously argued that the policy was not financially viable. Of the $32 million brought in since the collection bill went into effect, the IRS collected $7 million on…
No, I’m not talking about the Chicago Bears (“13 men on the field”) during their impressive comeback at Green Bay on Sunday night. I’m talking about the GOP presidential primary – nine candidates participated in the most recent debate. Nothing confuses potential voters more than hearing candidates argue about prospective tax plans and disjointed and…
Tax issues cause some folks to act in an irrational manner. True, the taxman shouldn’t be ignored. But feared? Nah. Here’s my list of the top five things that taxpayers are irrationally afraid of – and shouldn’t be: Being aggressive when it comes to deductions. You’re entitled to take deductions. C’mon, say it with me…
Ed and Elaine Brown have officially been arrested. The Browns were arrested when undercover officers went to their home at about 7:45pm on Thursday evening. “Ultimately, this open-door policy that they seemed to have which allowed the Browns to have some supporters bring them supplies, welcome followers and even host a picnic –this proved to…
Some members of Congress have proposed a “war tax” to fight the increasing costs of the wars in Iraq and Afghanistan. Opponents are crying “no more taxes” while others scramble to reconcile a budget spiraling out of control. So today’s question is: Should Congress impose a war surtax in order to pay for the war?…
Or so say three senior House Democrats who have proposed an income tax surcharge to pay the $150 billion annual cost of operations in Iraq (and the $40 billion annual cost of operations in Afghanistan). Rep. David Obey (D-WI), John Murtha (D-PA) and Jim McGovern (D-MA) introduced the bill, claiming that it is unfair to…
Okay, don’t get me wrong. I think that providing universal health care options for children should be a priority in our country. However, shifting the burden to smokers to avoid what is essentially a political fight (the “who will pay for it” argument going on between the President and the Senate) is just a bit…
On Problogger yesterday, a few folks commented that the list of potential deductions for bloggers (one of many groups of self-employed persons) was too long or too complicated. Which made me think. It also leads me to today’s Fix the Tax Code Friday question: Should there be a separate standard deduction alternative for self-employed persons?…
