IRS Given More Power To Break Laws - IRS's PR program to convince our rulers that they can't do their job without breaking laws that would put regular people in the slammer seems to have worked. The more we hear about the deficit, the more pressure there will be to unleash the IRS Gestapo and let them do whatever it takes to squeeze more money out of people. It's classic ends (money for government) justifying the means (whatever it takes). As I've documented on several occasions, the infamous "tax gap" of supposedly uncollected taxes, is a pure guess (on the very high side) by IRS. They have admitted that to me when I pushed for documentation of how they calculated their numbers, which are used routinely to justify their collection tactics.

Sound fiscal advice for families should apply to state budget - With all of the focus on creative accounting done by large corporations, it's interesting to note how practically all of the fiscal shenanigans played by our rulers at pretty much all levels of government would put corporate executives in the slammer. This means that corporate shareholders are legally given more recourse over fiscal mismanagement than are taxpayers.

Pension Problems, Pension Politics. Many plans aren't solvent but Congress shouldn't make the problem worse.

Seven Rules for Investing Young

Protect disabled with special needs trust - when discussing estate planning, I've long suggested that people imagine themselves as being in the position of puppeteers from the other world after they pass on. However, to ensure that one's wishes, including special arrangements for family members, and even pets, are actually carried out, everything has to be properly spelled out in proper documents. I have yet to hear of the terms in a deceased person's will or living trust being changed based on conversations from beyond the grave, regardless of the popularity of people who claim to speak with the dearly departed. I advise people to project ahead to when they are gone and write down what they would like done with their assets. A good estate attorney can usually draw up documents that will ensure that those things are actually accomplished.

- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 7/27/2003 08:19:00 PM Send this post: