Internal Revenue Service Commissioner Doug Shulman issued a proposal last month to federally regulate tax preparers The IRS wants to set new rules for income tax preparers nationwide in order to help reduce tax fraud and improve compliance.

Is the problem real?  You betcha!  About 60% of all Americans hire a tax preparer to file their returns.  Unfortunately, the IRS says 56% of all returns prepared by a paid tax preparer contain "significant" mistakes!

So far, California and Oregon are the only states that have tax education requirements for its income tax preparers. We expect that other states will, eventually, follow.

Last year, New York passed legislation to require its tax preparers to register with the state, but it does not yet enforce education requirements.

That means that there are more than 600,000 unregulated tax preparers out there as we speak.

Will government regulation help?  Well, the idea sounds good in theory (like many Washington proposals), but here's the problem: as always, when the government is involved, it will take some time before regulations are implemented.

Not too long ago we issued a warning of the possibility of some money market mutual funds shutting down this year due to their inability to make money with low interest rates.

Now we learn that The Securities and Exchange Commission (SEC) has just passed a rule that could pose a much bigger threat.  In times of economic duress money market mutual funds will be allowed to prevent redemptions.

Three conditions will have to be met to allow this prohibition:

- The fund’s share price falls below net asset value as The ReserveFund’s net asset value did in 2008.
- The board of directors approve liquidating the fund.
- The fund notifies the SEC of the decision to liquidate and suspend redemptions.

If you think this might not happen, think again.  Another dip in our economy would again put the stock market into a downward spiral, which might be just the key to closing the spigot of liquid money markets.

Tax season is officially upon us!

To kick things off, here is a quick state of the tax union...

Just in time for tax season comes an admission from IRS Commissioner Douglas Shulman that even he uses tax prep help because the tax code is too complex!

60% of us are already paying a pro to do our taxes and another 20% feel the need to use tax preparation software to get returns done.

Washington announced that the IRS would start testing and regulating paid tax preparers. But not in time for this year's taxes.

Meanwhile the IRS taxpayer hotline is trying to reach a 71% correct response quota for answering confused taxpayer queries. Just fancy that...71%...if you tried that success ratio on your boss, you wouldn't need to file taxes because you'd be out of work and broke!

What a sorry state!

So while Congress fiddles with a health care bill most Americans don't want, here are the tax changes currently in store for all of us due to Congressional inattention.

For 220 years our presidents have given State of the Union addresses, or as we like to call them, The Once-a-Year Washington Aerobics Olympics.

86 times the left side of the aisle felt compelled to leap to its feet to applaud the President. That's the most exercise most of Congress gets all year, unless you consider Congressional groveling to lobbyists and special interests on hands and knees exercise.

So, to paraphrase the usual Congressional question, "What's in it for us?"

On the positive side, the President did make overtures towards a more bi-partisan second year by offering tax credits and the elimination of capital gains taxes on small business as well as the mention of innovation in our energy strategy to include, new nuclear power plants, off shore oil and gas development and clean coal technology.

However, the President continued with his insistence that Congress must pass Cap and Trade (Cap and Tax) because of the

We are watching television coverage of the worst humanitarian disaster we have ever seen.  We're sure that you, too, have watched with horror at the images emanating from Haiti.

Is it any worse than the tsunami, which hit Phuket a few years ago? We won't hazard a guess. But this, somehow, strikes us as a bigger catastrophe. Maybe it's due to Haiti's proximity to the U.S. Or maybe it's due to the ultra-extreme poverty of the country.

In any case, we all seem to feel the need to do something.

And it is at this precise moment that the criminally inclined crawl out from under the dung heap to capitalize on the kindhearted. Looking to line their pockets with your charitable dollars, their criminal activities always seem to bear fruit.

So it is for this reason we are passing along to you a fraud alert from the FBI about a new wave of scams that have popped up overnight to capiltalize on the tragedy in Haiti.

2010 looks to be another challenging year for your family budget with double digit unemployment, smaller bonuses (unless you are on Wall Street!) and tight budgets that mean many of us may face a pay freeze or pay cut rather than a pay raise!

If you are looking to make a few extra bucks this year, don't be fooled by work at home scams. Here are five ideas for legitimate ways you can earn extra money.

Become a Census Worker

It's that time again....the big "count" is on and you can count on some extra bucks if you help Uncle Sam!

"Enumerators" (door-to-door census-takers) are in huge demand in many parts of
America.

You don't need any special skills. All you need to do is take a basic qualifications test.

We talked with our local Census office here in Florida and the Census Bureau here is paying a little more than $14 per hour for Enumerators. That hourly wages varies by area of the country, so visit the

You can see Daria and I on CNN each Saturday talking about the week's biggest money news and taking your questions.  Tune in every Saturday between 2-2:30 p.m.

In case you missed us this weekend, here is a clip of this week's CNN appearance.

A whopping 55% of us requested and received a gift card as a holiday present.  If you were one of them, don't make the mistake of putting the card in the drawer to spend later. A lot of those put-away gift cards never get spent!

Many times we just forget that we received it or, worse yet, forget where we put it contributing to about $5 billion in unspent money. Wow!

So as you sit reading this think about what you'd like to get with your gift card(s) today or tomorrow or no later than the weekend. Many stores are still in "clean out the last of the inventory" mode, which means there are bargains to be had.

When you go to the store plan on spending all of it even if it means contributing a few extra dollars to the purchase. Trying to buy something that won't cost you a penny extra usually means there are a few dollars left to the card's value. Rarely does that small amount get spent. So what you've accomplished doing is basically throwing a few dollars away in the trash.

I love this time of year (Ken here) - but not for the reason you might think. Sure, I love the holidays -- celebrating with family and friends, the spirit of goodwill. But that's not it.

I love this time of year is because as the year draws to a close, each and every one of us has a chance to start fresh in the new year.

Goodness knows, we are all ready to close the books on what has been a very difficult 2009. But rather than just saying "good riddance" to 2009, embrace this chance to make 2010 a better year.

And get started TODAY!

Make 2010 the year you make your money work as hard for you as you work for it. It's easier than you think. It starts right now with a simple click.

Discover our 10 simple money moves that will help you keep more, spend less and live richer in 2010!

In a stunning breakthrough, the government has confirmed that money DOES, in fact, now grow on trees. The proof?

Exhibit A: The Deficit. Our government has run up an astounding $10 trillion deficit and the pork keeps flowing.

Exhibit B: The Bailouts and stimulus programs. $700 billion to banks, $540 billion to shore up mutual funds, $123 billion to rescue AIG- that's almost $1.4 trillion out the door!  Cash for clunkers, cash for caulkers, and on and on.

Wait...what's that you say? You don't have a money tree growing in your backyard?? You actually have to balance your family budget? Faced with lower wages, fewer jobs, skyrocketing costs and big investment losses, you are actually tightening your belts to make ends meet and shore up your savings?!?

OF COURSE YOU ARE!

And if you are feeling squeezed, you're not alone.

In a recent survey, we asked you and your fellow Dolans.com readers

With apologies to Clement Moore, here is my own take on T'was the Night Before Christmas.

T'was the night before Christmas and all through D.C.
The Senate's in session, not home by the tree.
Their stockings were hung by their families waiting
But Senators sat on The Hill still debating.

Malia and Sasha were snug in their beds
While visions of healthcare danced in Barack's head.
Michelle in Armani, Barack in his tux
Awaited the news of a health plan deluxe.

When out on the Mall there arose such a clatter
Barack sprang from his chair to see what was the matter.
Away to the windows he ran with a flurry.
He peered out the window, told Michelle not to worry.

The moon on the breast of the global warmth white
Made Copenhagen look like a foolish world fight.
When what to Obama's eyes did appear
But a Senatorial limo and eight bargaineers.

Well, it looks like the longest suicide pact since the Kool-Aid was drunk in Jonestown, is about to be signed in the Senate at 9 P.M. Christmas eve. Interesting that the bill finally became reality with the buy-out of Senator Ben Nelson of Nebraska, home of the invention of Kool-Aid!

Here's what the takeover of one-seventh of our economy is going to mean to you.

1. You will be REQUIRED to have health insurance or face substantial fines.

2. Instead of a public option, insurance exchanges will be created offering government-subsidized insurance.

3. There will be an alternate government-run insurance option that will be watched over by the US Office of Personnel Management.

4. Although the plan's "benefits" won't kick in until 2014, insurance companies will immediately be barred from coverage denial to children with pre-existing conditions. Adults will have to wait for this until 2014.

5. Insurance companies will face the requirement of using at least 80% of premium dollars on customer care.

At our house, Ken's favorite part of Christmas is eating my Christmas cookies.  If you have cookie lovers in your family, give these a try!  And be sure to share your favorite recipe in the comment section below.

Ken's Favorite Christmas Cookies

6 oz. unsalted butter, chilled
1 cup all-purpose flour
1/2 cup cornstarch
1/2 cup confectioners' sugar
1/2 tsp. vanilla extract
Pinch of salt

Preheat oven to 350 degrees

Cut butter into cubes and place butter, flour, cornstarch, confectioners' sugar, vanilla and salt in a food processor fitted with a metal blade.

Blend until the dough forms a ball.

Remove dough from the food processor, wrap in plastic wrap and chill for 20 minutes.

Put the dough in a cookie press and eject cookies on an ungreased baking sheet.

At this point you can add colored sugar, sprinkles or a small piece of marachino cherry.

Bake the cookies about 15 minutes until golden brown.

There is one thing that always grows when times are tough-the number of scammers trying to rip you off! Here are 10 common-sense scam prevention tips that can help make sure you don't become their next victim.

Scam Prevention Tip #1:  Stay local.  Whenever possible, deal locally with people you can meet in person and ask friends and neighbors about before you do business with them.

Scam Prevention Tip #2: No pressure.  Never be pressured into sending money "immediately" by FedEx, Western Union, etc. Ever! Unless you are very familiar with the person you are sending money to, this can be a recipe for disaster. If someone is pressuring you, ask yourself, "What's their hurry?"

Scam Prevention Tip #3:  Less is more.  Minimize the information you print on your checks. Federal Reserve Chairman Ben Bernanke and his wife learned this lesson the hard way. When Mrs. Bernanke's pocketbook was stolen, so was her checkbook, which contained their Social Security number, address, phone number and more! That's a recipe for major

There's a new holiday tradition underway that can save you money if you shop online.

Today, December 17th, is the second annual Free Shipping Day. If you still have a few last minute gifts to shop for, today is a great day to finish up your holiday shopping online and save money doing it.

Free Shipping Day started last year and was a huge success. More than 100,000 shoppers took advantage of free shipping offers from more than 250 retailers.

This year, Free Shipping Day is back and bigger than ever. There are 719 retailers participating this year! You'll find tons of the popular stores in the mix, such as Toys R Us, Apple, Discovery Channel Store, Pottery Barn, Nike and more! You can find the full list at www.FreeShippingDay.com.

One note...be sure to read the details of the offer. Not everything is free to ship. Most sites exclude furniture shipping in the Free Shipping Day offer, for example.

There's no doubt that Americans are going to (or should) spend less money this holiday season on gifts for family, friends and business associates. That's good news in our opinion.

Another piece of good news? Less will be charged on credit cards this holiday season as more people report using cash!

If you are giving gifts this year, we have a few money-themed gift ideas that will keep giving long past the holidays. From the fun to the practical to educational, these gifts will help your loved ones get money smart in the new year!

Money Software:

Quicken Deluxe 2010...organize your finances!

This software can show you where you're spending and helps you see where to save...brings your accounts together all in one place, helps you to both set budgeting and savings goals and stay on top of bills and avoid late fees with alerts on upcoming payments.

Turbo-Tax Deluxe Edition

In the depths of The Great Depression "The Nation" magazine wrote, "If you steal $25, you're a thief. If you steal $250,000, you're an embezzler. If you steal $2,500,000, you're a financier."

Well, if that's true then our country's House of Representatives must be loaded with financiers with the passage of a $1.1 trillion spending bill. It's either that, or the 221 members who did vote for it, are just doubling down on stupid.

Why programs under direct congressional control require 10% increases in funding next year when seniors on Social Security have already been informed that they will receive no COLA increases for the next two years due to lack of inflation, boggles our minds.

You need to ‘splain' this, Mrs. Pelosi, to all tax paying Americans.

Included in this pig fest is another $3.9 billion for more than 5000 earmarks sought by BOTH Republicans and Democrats. (We won't disgust you with the list of the waste. It's too painful to talk about.)

One of the smartest year-end tax moves you can make is to fully fund your tax-advantaged retirement plans.

OK, we know things are tight, but sock away every penny you can into these accounts.  It's the best way to build your retirement nest egg, plus you get to lower your taxes to boot!

But be sure to don't contribute more than the maximums.  Here are the contribution limits for various tax-advantage retirement plans.

Traditional IRA Contribution Limits

• $5,000 if you are age 49 or below
• $6,000 if you are age 50 or older

Simple IRA Contribution Limits

• $11,500 if you are age 49 or below
• $14,000 if you are age 50 or older

SEP IRA Contribution Limits

$49,000

Roth IRA Contribution Limits

• $5,000 if you are age 49 or below
• $6,000 if you are age 50 or above

However, unlike a traditional IRA, you may only contribute to a Roth IRA if your income is under certain limits.

This simple year-end money move will pay dividends throughout 2010!

Direct deposit is a simple way to save time and grab a little extra income (every little bit counts!).

Direct deposit is simply having your employer deposit your paycheck directly into your bank account rather than giving it to you.  You get to save the hassle of making time to run to the bank.  Plus you earn the extra interest that you lose every day that paycheck sits in your hands waiting to be deposited.

Many people even find that they receive their paycheck the day before payday through direct deposit.  Tell your payroll department that you would like to set up direct deposit for your paycheck.  There is a simple form to fill out and you're done!

Direct deposit isn't just for paychecks!  You can also use direct deposit for your Social Security check.  Jot down the name of your bank, your account number and your Social Security number, then give the Social Security Administration a call at

Dear Santa,

I am sending you my Christmas list in hopes that you can bring me everything I'm asking for this year.

I've been a pretty good girl in 2009. Unlike those nasty boys Charlie Geithner and Timmy Daschle, I paid all my taxes and I paid them on time. I didn't fake my investments like Bernie did. I didn't spend anyone else's money like Nancy did buying $3,000 worth of flowers.  And I didn't borrow billions then turn around and spend $440,000 on spa treatments like those bad boys on Wall Street did.

So since I've been pretty good, here is my Christmas list.

I want a new healthcare program like the big kids in Congress have instead of the one they're trying to stick me with.  And for my Mom please bring the same Medicare package as last year and not the one that the AARP is asking for after taking $18 million from Congress so that they can sell more Medigap policies and get richer off the backs of their members.