Another Dissatisfied IRS Customer
As a tax attorney, I have the pleasure of routine interaction with the IRS. However, I must confess my dealings with the IRS are not as efficient and streamlined as I would like. Therefore, it came as no surprise to find that the IRS’s customer satisfaction is far from stellar. Surprisingly I did not expect to see social icon, Facebook, vying so competitively with the IRS for the most unsatisfied customer service award…
Wall Street Journal, Users Rate Facebook Slightly Above the Tax Man:
Facebook plans to announce it has reached a milestone 500 million users this week — but that doesn’t mean the masses are happy customers. The American Customer Satisfaction Index, developed by the University of Michigan’s Business School, included Facebook in its regular survey of consumer satisfaction with companies.
The result: Facebook came out with one of the lowest ranks of any company measured by the Index – a 64 out of 100. That puts Facebook in the bottom 5% of all private sector companies, and in the same range as the IRS tax e-filing system, airlines and cable companies.
With the US Court of Appeals recent decision to affirm Wesley Snipes’ criminal tax conviction, it looks like Wesley Snipes may have to rely on the royalties from his cheesy “Total Gym” Infomercials to pay off his substantial legal fees and restitution incurred from his long battle with the IRS. I wonder if the Federal [...]
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With College Football Season right around the corner, I can’t help but wonder how much collateral damage has been caused by USC’s flagrant NCAA rule violations and what measures (if any) are Universities taking to avoid joining USC in their fall from glory.
The NCAA seems to be making an example out of USC’s violations [...]
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Many people seem to avoid estate planning either because we do not want to think about death (particularly our own) or we do not want to think about all the paperwork, emotion, and flat-out hassle involved. It’s kind of like digging out and organizing all your tax information for the year to bring to your [...]
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With a substantial portion of provisions in the Internal Revenue Code (Code) set to expire the end of this year, I am strongly encouraging my clients to take advantage of the current tax planning opportunities available this year. In the midst of the over sensationalized estate tax repeal and first-time homebuyer credit, the Code provides [...]
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For tax years 2009 and 2010, long-term capital gains taxes are eliminated for some low- and moderate-income individuals. This zero-tax break will end Jan. 1, 2011, when all capital gains rates revert to pre-2003 levels, unless Congress extends the current law.
Ordinary income
tax bracket
Long-term capital gains [...]
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INTERNAL REVENUE CODE § 1. Tax imposed
a) Married individuals filing joint returns and surviving spouses -
There is hereby imposed on the taxable income of—
(1) Every married individual who makes a single return jointly with his spouse, and
(2) Every surviving spouse, a tax determined in accordance with the following table:
Taxable income is:
The tax is:
Not [...]
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In order to take charge of your health, wealth and ultimately your estate, you should become familiar with the terminology:
Inter Vivos Trust (IVT) – An IVT allows you to maintain possession and control of your property, providing a smooth transfer of authority in the event of incapacity or death. At such time, your designated co-trustee [...]
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What are Life and Wealth Plans?
Although many “estate plans” merely include a will, I encourage my clients to incorporate a life and wealth plan into their estate plan. Because estate planning already requires an intensive analysis of your financial bottom-line, it creates a unique occasion to address life and wealth issues without incurring [...]
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As 2009 is quickly coming to an end, many taxpayers are looking for opportunities to minimize the money they will owe the IRS. Considering the numerous taxpayer-friendly legislation implemented this year, I encourage you to assess your prospective tax situation (if you have not already done so) and consider some year-end tax planning.
Here’s a review [...]
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