*Sorry to be late with this item, but last week, according to an IRS release,the “National Taxpayer Advocate Identifies Challenges and Issues for Upcoming Year in Mid-Year Report to Congress”.
“NationalTaxpayer Advocate Nina E. Olson today released a report to Congress thatidentifies the priority issues the Taxpayer Advocate Service (TAS) will focuson during the upcoming fiscal year. The report expresses particular concernabout the taxpayer impact of expired and expiring tax provisions, the rise intax fraud and tax-related identity theft, and attempts to limit the NationalTaxpayer Advocate’s formal input on issues that affect taxpayer rights andtaxpayer burden via ‘Taxpayer Assistance Orders’ and ‘Taxpayer AdvocateDirectives’.”
Addressing the impact of changes in tax lawon taxpayers and the IRS the report says -
“Thecontinual enactment of significant tax law and extender provisions late in theyear has led to IRS delays in handling millions of taxpayers’ returns andcaused many taxpayers to under claim benefits because they did not know whatthe law was. Because of the magnitude of these challenges and the uncertaintyabout such a large number of important provisions, the 2013 filing season is alreadyat risk. The 2013 filing season is likely to pose problems for many (if notmost) taxpayers and the IRS if Congress does not address the many provisionsthat have already expired or soon will.”
“Congressis likely to extend many of these and other expired provisions retroactive toJanuary 1, 2012, but neither taxpayers nor the IRS know for certain what willhappen and therefore cannot make plans. For example, a homebuyer trying to decide whether to utilize a loanpackage that includes mortgage insurance now lacks important information. So does a pensioner trying to decide whetherto tap his IRA to make a charitable donation.”
* In case you didn’t get enough on therecent court decision, CCH has a Tax Briefing on the subject - “Supreme Court Upholds Health Care Law”.
* And, before leaving the subject, BillPerez provides a good overview of Obamacare and the decision in “Tax Impacts of the Supreme Court's Health Care Decision” at ABOUT.COM.
Torepeat – the Supreme Court decision did not create new law. It just upheld legislation passed a whileago.
Muchof Obamacare does not begin to take effect until 2014, although some important1040-related provisions begin in 2013. Iexpect the 2013 issues will be discussed in detail at the upcoming NATPConference in Baltimore and the NATP year-end tax update in November. I will discuss these items in my “Year-EndTax Planning” coverage in October and November and my “What’s New for 2013”coverage either in December 2012 or January 2012.
And,always in the background, there is the possibility that the idiots in Congresswill address serious tax reform in 2013 and substantially rewrite the Tax Code(as I like to say - I can dream, can’t I?).
*Be sure to check out Kay Bell’s “Tax Carnival #104: Tax Fireworks” at DON’TMESS WITH TAXES.
Several good entries this edition. And I remembered to submit one myself!
*In this week’s installment of “Getting To Know You Tuesday” Kelly Phillips Erb,aka TAXGIRL, introduces us to Shayna B. Chapman, CPA CITP CGMA, of Chapman& Burris CPAs LLC in Gallipolis, Ohio.
* Have you taken advantage of my “Special Summer Savings for Tax Pros” yet?
TTFN
Hiç yorum yok:
Yorum Gönder