This author submits that certain settlement planners thought that Treasury guidance on the Single Claimant 468B qualified settlement fund was a forgone conclusion given that it was on the Priority Guidance plan for so many years. Then it was inexplicably omitted from the 2009-2010 Priority Guidance Plan. The settlement planners panicked and obviously came up with a strategy that includes an attempt to hijack a hearing on proposed regulations relating to the exclusion from gross income for amounts received on account of personal physical injuries or physical sickness, with the non sequitur. However noble their cause may be it IS a non sequitur with respect to the hearing.
Humming a few bars to the tune of "Panic" by The Smiths
Panic on the streets of Portland Panic on the streets of WashingtonThey wonder to themselves
Could life ever be sane again ?
The Priority Guidance Plan let them down
They wonder to themselves
Hopes may rise on the 23rd
468B, not safe yet
So they run down
To the safety of the town
But there's Panic on the streets of Tulsa
Austin, Denver, Jacksonville They wonder to themselves...
On September 15, 2009 The IRS issued notice of proposed rulemaking. The notice stated that the agency sought comments, to wit
"Comments and Requests for a Public Hearing
Before these proposed regulations are adopted as final regulations, consideration will be given to any
written (either a signed paper original with eight (8) copies) or electronic comments that are submitted timely to the IRS. The IRS and the Treasury Department specifically requests comments on the clarity of the proposed rules and how they can be made easier to understand. All comments will be available for public inspection and copying.
A public hearing will be scheduled if requested in writing by any person that timely submits written comments. If a public hearing is scheduled, notice of the date, time and place for the hearing will be published in the Federal Register". Note that Dick Risk requested a hearing in his comments submitted October 2009.
What I want to know is WHY, just one day after doing a fantastic job of keeping people focused on what is actually on the table, Jeremy Babener is throwing his QSF paper into the "kitchen sink"?
(1) Can't these people stay on point? (2) Why not let the QSF issue stand on its own, with its own hearing? Why swim around like male salmon reaching the end of their lives at breeding pond desperate to seal their legacy?Bears will be required to check their unicycles OUTSIDE the Internal Revenue Building in D.C. on Tuesday February 23rd.