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Go Ahead and Ask Harry Reid if Tax Reform Can Be Revenue Neutral; Just Ask Him

Posted on July 25, 2013 by Caleb Newquist

Any tax overhaul “has to be under the total understanding that this can’t be revenue-neutral,” said Reid, a Nevada Democrat. “It can’t be even close to neutral. It has to be a significant tax target.” [Bloomberg]

Posted in TaxTagged all righty then, Harry Reid, significant tax targets, Tax Reform

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  • Tax

TaxSlayer.com Is the New Corporate Sponsor of The Gator Bowl

  • Caleb Newquist
  • September 6, 2011

You may have heard that the college football season over the weekend, which means tax professionals’ mandatory Saturdays will be a little more unbearable and your football crazed significant other will not be seen nor heard from (with the exception of deafening bodily functions) until January.

January, of course, is bowl season when the best teams in the land compete for bragging rights as champions of various BCS bowls. It also allows a few dozen mediocre teams to play equally mediocre teams for no particular reason. One of these bowls is the Gator Bowl. Sure it might be the 6th oldest bowl and sure, it has been played on New Year’s Day since 1996 but that doesn’t make it any more meaningful. It will feature teams from the SEC and The Big 10 that will be a threat for their respective conference championships for 2 to 3 weeks. In short, the Gator Bowl has a long tradition of fielding third-rate football teams.

So it makes perfect sense for TaxSlayer.com, tax prep company with a long tradition of third-rate service, to sponsor the Gator Bowl:

The Evans, Ga.-based company announced a multi-year partnership Thursday with the Gator Bowl Association and the fact that it was named a new “title sponsor” of the bowl, starting with the 2012 Gator Bowl in Jacksonville, Fla., on Jan. 2.[…] TaxSlayer may not have the same name recognition as TurboTax or TaxAct, but it comes out of a tax prep business that dates back 40 years.

And in case you’re not convinced that TaxSlayer.com isn’t doing everything they can to get their name out there, they also sponsor Dale Earnhardt, Jr., which will make them a household name in no time. In the South, anyway.

[via AT]

  • Tax

Grover Norquist Did His Best to Educate the Patriotic Millionaires on How to Pay Their Fair Share of Taxes

  • Caleb Newquist
  • November 18, 2011

Not everyone agrees with tax hit man Grover Norquist’s ideas. While GGN would like nothing better than to see every federal and state levy banished to the darkness, there are a number of people who don’t share this view. A certain group of these people are from the more affluent corners of society and they’ve organized themselves as the “Patriotic Millionaires” in order to make the case that they are sick and tired of being able to afford competent CPAs to legally reduce their tax burden to an unfair amount. Grover, being the big softie that he is, realizes (not from personal experience, mind you) that the burden of not paying your fair of taxes is a heavy one. And because he’s upstanding patriot himself, he went to the Hill yesterday to meet with these troubled folks to help alleviate their pain:

“If you think the federal government can spend your money better than you can, then by all means” pay more in taxes than you owe, said Grover Norquist, of Americans for Tax Reform, a group that has gotten almost all congressional Republicans to pledge to vote against tax hikes. The IRS should have a little line on the form where people can donate money to the government, he suggested, “just like the tip line on a restaurant receipt.”

Tipping! Millionaires know how to do that, don’t they? I mean with all the servants and eating at fancy restaurants and whatnot, this should be an easy way for the wealthy to ease their low tax guilt. But despite all his suggestions and support, some did not receive the message all too well:

One of the millionaires suggested that if Norquist wanted low taxes and less government, “Renounce your American citizenship and move to Somalia where they don’t collect any tax.”

Well! If that’s the thanks Grover gets, don’t expect him to be so forthcoming with the advice next time.

With supercommittee silent, millionaires and others eagerly jump in with their own advice [WaPo]

  • Tax

Your Token IRS/UBS Update

  • Caleb Newquist
  • August 8, 2009

300px-Toblerone-1.jpgIn, oh for the love of God make it stop, news, Judge Alan Gold has allowed the IRS and UBS more time to hammer out a deal over 52,000-someodd names of American account holders.
There was supposed to be a deal today but then the judge said the 10th would be fine. Now the 12th is the date and if that doesn’t work, then they have until 17th. OH to hell with it. Who needs a drink?
U.S. and UBS Get More Time to Reach a Deal [DealBook]

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