#Taxtwitter, my @TaxNotes piece focuses on high costs of #IRS' CAF system & its inconsistent results & makes suggestions on how to fix & what to avoid. Enjoy!
PS I was stunned by a $50M cost estimate, too
PPS #IRS please consult w/end users first. Thx.
https://t.co/7LJ0vt7H29
While I appreciate the bouquet to #IRS on efiling, I caution tying efiling to simplifying. *How* we send returns to IRS is trivial against the incredible complexity many taxpayers face. https://t.co/od2Y1KWcTA
I'm quoted alongside much more august members of the #tax administration commentariat in @benmvaldez's piece on new #IRS, CEO Frank Bisignano.
https://t.co/0cuVFhNqip
Why can we count on DC Council to make inexplicably bad decisions, on small businesses (yes, I'm talking about the D30), rental property, bikes...?
Ban Calcutta street scene in DC.
Council Votes Tues. 12/2 on Streateries.
Sign the Petition! https://t.co/zcR5tohBdR via@Change
Pushing the (unsupported) narrative that ROs/RAs are maniacally & capriciously assessing penalties is a cheap shot & undermines trust we need in #tax administration
Except FTF/FTP (& similar), I don't get the sense IRS is aggressively assessing penalties
https://t.co/ZqJ06N3j6B
You, too, may comment on the proposed regs:
https://t.co/0phojnnaIG
If we’re in the business of protecting our clients from IRS’ caprices, then surely we should protect ourselves from the same.
Check out my PTIN fee opinion piece in @bloombergtax
Lowered 9%? Yep
Is that enough? No
What is IRS doing with cash enough to hire > 100 people? And are decisions to charge PTIN fees vibes rational or vibes based?
We don't know. IRS won't say.
[1/2]
https://t.co/6hLxnfwP58
So...tucked on the penultimate page of Monday's Chairman's substitute amendment, we'll see someone included a restriction on regulating contingency fees on (apparently) any #tax return (original or amended) or claim for refund.
Thx to Rohit Kumar & Co. at @PwC for this pre-markup summary of the *new* House tax bill, under consideration today, after, of course, a pre-markup presser
I'm expecting some spicy exchanges-esp. around business provisions (bonus depreciation etc) & SALT
https://t.co/3HpY8TvjKT
Hey #taxtwitter, I joined Padgett's Roger Harris & Annie Schwab on Federal Tax Updates to discuss proposed Circular 230 changes.
Come for the contingent fee provisions, stay for unconventional thoughts on ltd practice rights (I ain't a fan).
https://t.co/B2WEhR8GeN
@RichardRubinDC Additionally, when asserting the "top x%" get all the gains, might help to state how much of the tab the top x% is paying. This from @TaxFoundation, drawing from #IRS SOI data:
https://t.co/3pbNKhaj14
The @WSJ still lands daily on my front steps. Yesterday's included this re 1st #IRS commissioner: ‘Boutwell’ Review: A Man Ahead of His Times. Perhraps of interest to #TaxTwitter
https://t.co/h60w5vECsL via @WSJBooks
One wonders if whoever led this effort (Rubin presumably, given the top billing) asked the two GW Bush Secretaries still alive (Snow & Paulson) to join the opinion (one assumes Mnuchin would take a pass & HW's Secretary (Brady), 94, may not be able)...
https://t.co/efolaAPXud
@taxtherapist505 My beloved & I joke (gallows humoresque) weed is the official odor of DC. Inescapable, even walking thru Georgetown @ 8am. While unfamiliar w/elementary school lines, I am well familiar with following cars evidently piloted by Cheech & Chong.
@MayorBowser doesnt enforce the law:
I'm a repeat offender on @TaxNotes' pod. @benmvaldez & I talk about the recent unpleasantness--i.e., EOs freezing federal hiring (w special #IRS love note) & grants; compelling RTO; and offering a #buyout (or whatever "fork in the road" + OPM FAQs means)
https://t.co/23kNpxIHco