Accountants React to New Tax Act
Once again, our elected officials put together an ill-thought out tax act of over 1100 pages, yet just a couple actually had time to read it. None had time to study the language, identify the areas of effect, study those areas and form quality opinions befitting a multi-billion dollar tax bill.


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00:00 - 00:03Congress is about to pass a new tax bill
00:04 - 00:05No one has read all of it
00:05 - 00:071100 pages stretch from here
00:08 - 00:12almost to here...very big
00:12 - 00:15Its a very big tax bill
00:17 - 00:19And no one has read it?
00:19 - 00:21No one has read it?
00:24 - 00:26No sir, no one has read it all
00:27 - 00:28There wasn't time
00:31 - 00:33And we ran out of ink and paper
00:34 - 00:36Office Depot was closed
00:53 - 00:58All juniors go play on your phones
01:13 - 01:15What is Congress doing?
01:15 - 01:17How are we supposed to advise our clients?
01:18 - 01:23And we have 90 days to finish returns? Does Intuit know? CCH? Thomson Reuters?
01:25 - 01:28I can't connect to wi-fi here
01:29 - 01:31Me neither, its ok
01:31 - 01:34What happened to the days when Gail Pasternack
01:34 - 01:37would go down to the House Ways & Means Subcommittee
01:37 - 01:40and show them what the effect of their bill would be?
01:40 - 01:42Gail Pasternack retired a few years ago
01:42 - 01:46I don't care go find her!
01:46 - 01:48She's down in Florida somewhere
01:48 - 01:52I don't care where she is
01:53 - 01:54Do I have to do all the thinking?
01:56 - 01:57Maybe we can get her son Jeff's help with this
01:57 - 02:00He's not as smart as his brother but he's handsome
02:00 - 02:03He can use his Happy Day magic and make Congress stop this lunacy
02:04 - 02:08The software won't be ready until September with all the changes
02:08 - 02:13and even then it will be some beta-version crap like we had with the Affordable Care Act
02:14 - 02:16Someone has got to stop this madness of enacting
02:17 - 02:21tax bills that no one reads...why did people vote those idiots into office?
02:27 - 02:29What happened to the old days when Congress
02:30 - 02:34read the bills and obtained real-world feedback from practitioners like us?
02:34 - 02:36We don't wear pocket protecters any more.
02:41 - 02:42What happened to the lobbyists
02:43 - 02:47that the AICPA pays to look out for our best interests? We don't get any sleep as it is
02:48 - 02:53and my doctor won't write me any more prescriptions for Vyvanse or Adderal, and the kids
02:54 - 02:56are charging me $5 a pill so I can work 20
02:56 - 02:59hours a day just to keep up with the tax work we have
03:00 - 03:02What do they want us to do, start smoking meth?
03:04 - 03:07You can log onto Facebook soon
03:14 - 03:16Fine. Let's call the clients
03:19 - 03:23We'll tell them that we have to extend their returns.
03:25 - 03:26Blame the stock brokers,
03:31 - 03:33even if they referred the client to us.
03:40 - 03:46Their lobbyists got them until April 1 to send final versions of brokerage statements and we can't finish
03:46 - 03:49their returns without the final 1099s.
03:53 - 03:56Call my shrink...I need an intervention.