According to
I think you could do it by sending an e-mail to snipped-for-privacy@dolans.com.
Katie in San Diego
Whoever does tell them might expedite their correction process by providing this reg citation and quote.
§54.4974-2 ... The tax is equal to 50 percent of the amount by which such required minimum distribution exceeds the actual amount distributed during the calendar year. ...
LOL! on ONLY 50%?
thanks, I needed a chuckle after a rather taxing day at the office.
ChEAr$, Harlan Lunsford, EA n LA
Yes, that was good for a chuckle yesterday. But this morning the hairs were raised on my head and I got chills reading the latest mystery which changes the IRC in 300 different places! BRrrr!. Yes, it was CCH's capsulated version of the brand new TAFEA. (tax accountants' full employment act)
ChEAr$, Harlan Lunsford, EA n LA
It is also the CPE Providers Revenue Enhancement Act.
The nice thing about being an Auditor or a Managerial Accountant is that the rule changes are rarely devastating. This is because they are written by professionals with a compresensive understanding of the subject matter and a comprehensive understanding of the consequences. Or to put it in simple terms, they are logical - something that occurs in tax legislation sporadically.
Dick
I am guessing there will be plenty of disapointed folks who purchased a New Auto between 1/1/2009 & 2/16/2009. Left out in the cold on the sales tax deduction.
Get ready to argue with them Spring 2010 when you have to tell them they can not deduct the sales tax on thier 2009 return.
Unless someone fixes this with a TAMRA.
I THINK the sales tax deduction isn't effective until the day president signs the bill. And looks like he's in no hurry to do this. Maybe tomorrow?
ChEAr$, Harlan Lunsford, EA n LA
\ Well, yeah, I guess. BUT... sounds like being an auditor is SO borrrriing!
At least for us the changes each year are challenging and keep us on our toes!
ChEAr$, HL
Agreed!
IMHO it should be retroactive to 1/1/2009.
It would return a sense of fairness to those of {us}/who purchased a NEW auto in the current tax year, to date all who have will not be allowed to partake in this deduction.
I forsee a number of disappointed taxpayers, like those who took advantage of traditional President Day Sale Promotions today & this past weekend.
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