No tax returns lost at Austin

A quick note to taxpayers who send their returns to Austin. Some of you have asked me whether the recent tragedy–a deranged taxpayer crashing his plane into an IRS building– might have burned up their paperwork. The answer is no. The IRS doesn’t process tax returns or issue refunds from that particular building, so nothing has to be refiled. The tax-dodging pilot, Joe Stack, had apparently tried and failed to exploit a loophole for churches. He owed back taxes and was enraged by the IRS’s legitimate attempts to collect. For the anti-tax hate groups that call him a hero, I have nothing but contempt. Stack murdered Vernon Hunter, a longtime IRS employee and father of six who did two tours in Vietnam. He, and all the injured, are in our thoughts.

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“The Big Short." You'll find no better book for explaining how toxic mortgage investments brought down the economy. Lewis is a great storyteller. You watch the disaster unwind through the eyes of four unforgettable investors who saw that these loans had to fail and invested accordingly.
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Jane Bryant Quinn is a nationally known commentator on personal finance, with books and columns read and trusted by millions.
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