Ask TaxMama Issue 488 - Ethics vs Power and Confidence

2009-01-23 by

Happy Bubblewrap Appreciation Day - Monday January 26th

Dear Family,

Don’t you love to start the day with someone telling you – “You were right!”? That’s what happened yesterday, when Andrew came to work. Naturally, I know that I am often right (and sometimes wrong) – but what was I right about this time?

Ah yes, it was all over the news – Obama re-taking the oath of office.

Clearly, during the Inauguration ceremonies, it was somewhat mangled. Chief Justice John Roberts re-administered the oath, simply as a cautionary measure.(Right after the swearing in, I happened to say – well, that’s going to have to be corrected – very soon. I didn’t expect it to turn into a media spectacle. But that does make sense.)

I was wondering about the documents President Obama had signed, and the Cabinet members he’d had sworn in, etc. before the oath. But if you read the MSN article above, the administration and legal advisors didn’t think that much caution was necessary. But we all know, someday, someone will be unhappy with something and sue that something that was done or signed or decided before the re-taken oath isn’t valid. Sigh. Makes me tired. But I bet that will happen.

We had a bit of excitement this week as the confirmation hearings were going on. This hubbub over proposed Secretary of the Treasury really has the tax professional community in an uproar. At first, I thought his tax errors were simply an oversight. But, reading the documents that the Committee has gathered about Geithner’s tax history (i.e. things he SIGNED), and his own comments that he understood his responsbilities, but made a mistake. Read my – Accountingweb.com blog

But once I saw the documents, it became quite clear that this was a serious breach of ethics. And he just brushes it all aside. Essentially, his bold, strong, confident position vis-a-vis the Senate Committee panel is, forget it. Let’s move on to more important things. Whew! This fellow will be overseeing the IRS?

Oh, don’t worry, Geithner WILL get confirmed. He will be the new Treasury Secretary. After all, people like Paul Volker, Barack Obama and many legislators and others insist that he’s the only man who can do this job at this time.

There is this Fox News article by Glenn Beck that touches on this in an amusing and sarcastic fashion.

But that’s not what I want. I really wish that someone would spell out for me WHY? What are his special skills, or his brilliant vision that make him the ONLY Man? I am not being sarcastic. I’d just like to see an outline of his accomplishments and skills that make him so uniquely qualified. He’s going to be the one overseeing my professional ethics and career – and your tax liability and collections. I’d just like to feel more enthusiastic about him. Wouldn’t you?

In the meantime, everyone’s hard at work in Washington, DC.

In IRS News today, there’s an outline of the Economic Recovery Package from the House Ways and Means Committee; we get guidelines for bartering, and learn how to let IRS know when you move.
http://taxquips.com/index.php?cat=IRSNews

Today’s Money Funny we look at someone who felt the need to change his profession due to the recession…and other career considerations.
http://taxquips.com/index.php?cat=MoneyFunnies

In TaxQuips this week, we get a lesson about old laws on the books in some states about cohabitation; we learn (for federal purposes) whether a boyfriend can claim his girlfriend on his tax return; we deal with an interesting twist to the Stimulus Rebate situation; get into quite a heated discussion about s corporation ‘draws’; and learn that even after many years, and many miles, far away states can reach out and garnish your paycheck for unpaid taxes. Or may they?
http://taxquips.com/index.php?cat=TaxQuips

And finally, our Job Advice of the week gives you an e-book which is a Guide to a Six-Figure Job Hunt 101.
http://taxquips.com/index.php?cat=JobAdviceoftheWeek

Incidentally, Monday is Bubblewrap Appreciation Day. Click on the graphic at the top of today’s issue. It will take you a whole work of bubblewrap games and fun. Could be addicting!

As always, we love your feedback, opinions and ideas.
You are what makes all this fun – and interesting!

Please use the Comments link online.
http://taxquips.com/index.php?id=1091

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Hugs from your favorite TaxNerd,

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Your TaxMama is watching…out for you.

www.TaxMama.com
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TAX CALENDAR 2009
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01.02.2009 File Form 2290 – Heavy Highway Vehicles

01.15.2009 4th Estimated Payment Due

Farmers and fishermen. Estimated tax for 2008 Due

01.15.2009 Employers Make Monthly Payroll tax deposit

01.31.2009 Furnish W-2s/1099/1098s to recipients

01.31.2009 File Quarterly/Annual Payroll/Sales Tax Returns

01.31.2009 Individuals – Filing personal return and pay all taxes

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All Comments RSS

  1. Dawn J Renner Says:

    I too have read that Geithner is the only man that understands TARP. Well in that case – TARP is badly written!


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