Since it’s that wonderful time of the year again, I’m reading the Federal Register a little more closely than usual. Not that this is a chore, mind you: the official notices coming out of Washington, D.C. are quite entertaining. Some of them are even true! Last week, for example, the State Department finally got around to cancelling regulations that were 37 years out of date — they were promulgated under a law that got repealed during the Carter administration. That was worth at least a chuckle.
But today, the funny men at the IRS have gone one-up on those State Department bores, and submitted this side-splitting, thigh-slapping article:
Revenue Procedure 2002-23 provides guidance for the application by U.S. citizens and residents of the U.S.—Canada Income Tax Treaty, as amended by the 1995 protocol, in order to defer U.S. Income taxes on income accrued in certain Canadian retirement plans.
Current Actions: There are no changes being made to the revenue procedure at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 20,000.
And I’m not the first one to notice this comedy gold, either.