It is probably just as well that Congress did not pass some sort of tax bill on Friday.I would have felt obligated to study it and figure out how it might apply to various clients.This might have been upsetting to my family.So my observation of Christmas will be untroubled tax planning and compliance.It is kind of ironic, since tax compliance, if not planning, is central to at least one of the birth narratives Lukes: And it came to pass in those days, that there went out a decree from Caesar Augustus that all the world should be taxed.And this taxing was first made when Cyrenius was governor of Syria.And all went to be taxed, every one into his own city.And Joseph also went up from Galilee, out of the city of Nazareth,
Dsquared Brotherhood Shoes, into Judaea, unto the city of David, which is called Bethlehem because he was of the house and lineage of David
o be taxed with Mary his espoused wife, being great with child. And so it was, that, while they were there, the days were accomplished that she should be delivered. Makes you wonder if that is why when Jesus picked a generally disd profession to be kind to,
BCBG max azaria, it was tax collectors: Two men went up to the temple to pray, one a Pharisee and the other a tax collector. The Pharisee stood and prayed thus with himself, ��God,
BCBG dress, I thank You that I am not other men�Cextortioners, unjust, adulterers, or even as this tax collector. I fast twice a week I give tithes of all that I possess. And the tax collector, standing afar off,
BCBG outlet, would not so much as raise his eyes to heaven, but beat his breast, saying, ��God, be merciful to me a sinner! I tell you, this man went down to his house justified rather than the other for everyone who exalts himself will be humbled, and he who humbles himself will be exalted. Believe it or not, tax collectors were even more disd back then than they are now.It happens that Im feeling sorry for our tax collectors right now and if I am not careful Ill start feeling sorry for myself.Among the many items caught in the current gridlock is an AMT patch.The AMT alternative minimum tax was originally designed to make sure that very wealthy people paid at least some income tax.Even that motivation, while having emotional logic, was kind of dumb.Congress chooses to encourage various activities historic preservation and affordable housing creating tax incentives.Assuming for the sake of argument that those type of incentives are a good idea, why should it matter that some people embrace them so enthusiastically that they wipe out their entire tax The AMT kicks in at a certain threshold, which has not been permanently indexed for inflation.There is a budget logic as to why this has never been done.Instead Congress has patched the AMT on a regular basis. The IRS has come to count on them doing this.If they dont get around to it, the IRS will have to reprogram their computers, which will delay the start of tax season.The Commissioner has given Congress a heads up on what an ugly tax season is shaping up at the moment: This means that, absent enactment of a new patch in the near future, nearly million additional taxpayers will become subject to the AMT on their income tax returns. I want to reiterate that most taxpayers may not be able to file their tax returns until late in March of , or even later. As we consider the impact of the current policy uncertainty on the upcoming tax filing season,
Women's BCBGMAXAZRIA Shoes, it is becoming apparent that an even larger number of taxpayers to million of the million total returns expected to be filed may be unable to file. Ive decided not to worry about how that might affect the tax practice I am part of and think about what the current situation means to people who live paycheck to paycheck.It has been a really long time since I have lived paycheck to paycheck.I can remember times when the number of cans of tuna fish in my cabinet was material to my net worth, but I was never in that situation while I had kids to feed.Here is what I see coming for a lot of people if Congress keeps dithering.Having just gone through a Christmas spending binge,
BCBG max azria sale, they will find that their take home pay is down in January.The biggest lump sum they have to look forward to clean up their credit card debt is an income tax refund.That will be delayed until April thanks to the IRS needing to reprogram its computers.For some of them the lack of an AMT patch will eliminate the refund or turn it into a balance due.Not exactly pleasant Christmas thoughts, but of course there have been much tougher Christmases, this one nearly one hundred years ago. My two favorite Christmas songs illustrate to me the two things I most about how we celebrate this part of the year regardless of our theology.One is the way we put aside our differences for a day those British and German soldiers.Christmas is Solistice and we miss you and its been awhile. The other is that we are encouraged to think about people who need a break more than we do. Therefore, Christian men, be sure wealth or rank possessing. Ye who now will bless the poor shall yourselves find blessing. So Im going to stop worrying about the fiscal cliff and the lack of an AMT patch till Wednesday and have a Merry Christmas.Hope you do too. You can follow me on peterreillycpa. Worst Alternative Minimum Tax Gotcha States Move up i.forbesimg tMove downPredicting The Future: What Will Your Tax Liability BeTony NittiContributorFiling Season :Claudia's Crystal BallClaudia HillContributorIRS Is Grinch Who Stole Tax ID NumbersDeborah L. JacobsForbes StaffA Closer Look At Boehner's Plan B: Tax Hikes For Parents And WorkersJanet NovackForbes Staff
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