Sunday, March 25, 2007
Interesting article in the Weekend Wall Street Journal: Dealing With Tax Day's Ugly Problems, by Ron Lieber:
This could -- in fact, it should -- be so much easier. That's the unofficial refrain of tax time, the season of wringing of hands, tearing of hair and crossing of fingers. It's also a season of complicated questions, ones that your tax professional may have as much trouble answering as you do: How best to do the "cost basis" calculations when you sell an investment? Why can't you just file your taxes online on your own through the IRS's Web site? And what's the oddball logic behind the flexible-spending account rule that gives bigger tax breaks to commuters in cars than those on more environmentally friendly trains? The answers below aren't always satisfying, but there are tactics that can make the underlying problems a bit less onerous.