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Johnston: No, The Estate Tax Isn’t Destroying Family Farms

Al Jazeera, No, The Estate Tax Isn’t Destroying Family Farms, by David Cay Johnston: Congress is voting this week on whether to repeal the estate tax. The step would be a huge boon to billionaires and others whose fortunes would forever escape taxation, creating an even larger dynastic class of...

Brooklyn Law School Dean Calls For Audit of MBE

National Law Journal op-ed: Too Much Power Rests with the National Conference of Bar Examiners, Nicholas W. Allard (Dean, Brooklyn): Trying to improve the broken bar-exam system for licensing lawyers has been for too long like tilting at windmills while singing “The Impossible Dream.” There is a disconnection between what...

Sense and Sensibilities

The GOP House passes its budget. It promises to balance the books within 10 years by cutting spending by  $5.4 trillion. Cuts include $2 trillion from repeal of the Affordable Care Act, $1 trillion from  Medicaid and the Children’s Health Insurance Program, and $1 trillion  from other unspecified benefit programs. Show More Summary

Tax scam victim's pregnancy causes crook to relent Moms' post-delivery costs might be deductible, FSA eligible

Apparently some crooks have lines they will not cross. The criminal boundary for a con artist pretending to be an Internal Revenue Service agent was impending motherhood. Sarah Carr was the target of what the IRS says is the largest tax scam ever, in which individuals pose as tax agents and make threatening phone calls to people. Show More Summary

Low Income Taxpayer Grant Recipients For 2015

The IRS announced yesterday (IR-2015-61) that it has awarded $10.25 million in matching grants to 132 Low Income Taxpayer Clinics (LITCs) for the 2015 grant cycle (Jan. 1, 2015 through Dec. 31, 2015). Through the LITC program, the IRS awards matching grants of up to $100,000 a year to qualifying...

New Quiz - Not a Section 332 Liquidation

We have mentioned in the past that there are tax quizzes on our sister website, Tax-Charts.com. Although still somewhat of a work-in-process, today we added a quiz titled "Not a Sec. 332 Liquidation." Below are links to the new quiz...

WSJ: Last-Minute Tax Moves

Wall Street Journal, Last-Minute Tax Moves: As April 15 Nears, Here’s How to Maximize Savings and Avoid Pitfalls: [D]on’t overpay Uncle Sam by forgoing a tax break to which you are entitled. Here are tips for coping with new and recurring issues this year. Understand the new health-care provisions Beware...

The IRS Scandal, Day 688

Forbes, House Considers Bill To Stop IRS Targeting, Fire IRS Employees Who Do, by Robert W. Wood: The House Committee on Ways and Means is busy with a bill that could change the IRS. H.R. 709, the Prevent Targeting at the IRS Act, calls for firing IRS employees who take...

Taxes From A To Z (2015): O Is For OID

It’s my annual ” from A to Z” series! up: O is for OID OID stands for Original Issue Discount. You’ll likely hear this concept discussed when referring to and you might have even received a form 1099-OID. There are a lot of sophisticated OID concepts but we’re going to focus on the most common […]

Thinking about & putting tax-wise money away for retirement

A couple of weeks ago I mentioned that I was ready to take a break from tax season. I'm now at that point where I'm beyond wanting a vacation. I'm thinking retirement. When will the hubby and I be able to join this group of happy retirees?...Show More Summary

Code §911 Foreign Earned Income Exclusion - Adverse Conditions for 2014

This week the I.R.S. published Revenue Procedure 2015-25, which announced that Libya and Yemen are the only 2 countries for 2014 where it was determined that war, civil unrest, or similar adverse conditions precluded the normal conduct of business for...

Weekly Tax Roundup

Americans United for Separation of Church and State, Liberty University May Have Violated Tax Law By Hosting U.S. Sen. Ted Cruz The Blaze, The GOP’s Six-point Plan to Protect You From the IRS Bloomberg, Procrastinating On Your Taxes? Your Accountant May Fine You Center on Budget and Policy Priorities, Eliminating...

Nevada Governor Attacks Tax Foundation Report

Yesterday we released an independent report (PDF) analyzing Nevada Governor Brian Sandoval’s proposed Business License Fee tax. The proposal replaces Nevada’s current $200-flat business license fee with a tiered gross receipts tax. Governor...Show More Summary

Weekly Legal Education Roundup

Charleston Post and Courier, Former Dean Blasts Charleston School of Law Owners Over InfiLaw Sale Cooley Law School Blog, Lawyer Employment Jumps By 40,000 in 2014! Kristina Foehrkolb, & Marc DeSimone, Debunking the Myths Surrounding Student Scholarly Writing, 74 Md. L. Rev. 169 (2014) Richard Gershon (Dean, Mississippi), Lucre, Malice...

Weekly SSRN Tax Roundup

Jordi Caballé & Ariadna Dumitrescu, Disclosure of Corporate Tax Reports, Tax Enforcement, and Insider Trading Michael Knoll (Penn) & Ruth Mason (Virginia), Comptroller v. Wynne: Internal Consistency, a National Marketplace, and Limits on State Sovereignty to Tax, 163 U. Pa. L. Rev. Online 267 (2015) Stevanie Neuman (Missouri), Thomas Omer...

Weekly Student Tax Note Roundup

Cole Barnett (J.D. 2015, Florida), Comment, United States v. Woods and the Future of the Tax Blue Book as a Means of Penalty Avoidance and Statutory Interpretation, 66 Fla. L. Rev. 1791 (2014) Heath C. DeJean (J.D. 2015, LSU), Comment, High-Stakes Word Search: Ensuring Fair and Effective IRS Centralization in...

Netanyahu To Release Palestinian Tax Money

Israel will release the hundreds of millions in withheld tax moneys to the Palestinian Authority, a move that could ease tensions and bring relief, even in Washington.

Native American Tribe–With Tax Exempt Casinos–Has Nation’s First Junk Food Tax

Junk food taxes are sin taxes to control behavior, but they also raise revenue. With obesity, diabetes and other problems on the rise, junk food taxes are hardly a novel concept. But they have been hard fought and harder to pass. Not anymore. Ironically, a tax exempt Native American Tribe, the Navajo Nation, is the first jurisdiction […]

Chris Christie Says Marijuana Taxes Are Blood Money. Is He Right?

New Jersey's Governor has bashed the tax revenues that can come from legalizing marijuana as 'blood money.' Is he right that the businesses go to cash and avoid taxes?

Tax Roundup, 3/27/15: Scammer targets the Tax Update! And: a Des Moines tax crime sentence.

Enhancements in scam productiity. The IRS-impersonator-scammer community seems to be seeking improved productivity through automation. A robo-call to my house yesterday […]

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