The IRS is Wrong 46 Percent of the Time!
Who would have thought anyone would actually confirm what the CPA profession has known for a long time ... that the Internal Revenue Service actually makes mistakes!
A study by the U.S. Treasury Department confirms that the Service only had the right answers about 54 percent of the time with questions asked through its Web-based Tax Law Assistance program.
A story picked up by the New York State Society of CPAs mentions an opinion held by the National Federation of Independent Business that the small business owner believes the tax code is just too complex to interpret accurately--even for the Service.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.