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Can the California Franchise Tax Board Levy My Bank Account?

The California Franchise Tax Board (FTB) has the authority to collect your delinquent tax balance via a bank levy under California Revenue and Taxation Code Sections 18817 and 18670. The FTB has the authority to take 100 percent of the balance owed directly out of your bank account. They can also garnish your wages and […]

Tax Roundup, 3/29/17: Management fees mismanaged. Also: reform is hard, Chuck Berry, more in the links!

Mismanaged fees. In the misty dawn of time — well, in my early days in public accounting — I knew an […]

With IRS, Ask Forgiveness Not Permission

Sometimes asking the IRS for forgiveness can be more tax savvy than asking for advance permission.

Tax Deduction for Donating Clothing

A recent United States Tax Court case, Gaines v. Comr., T.C. Summ. Op. 2017-15, provides some insight into claiming a charitable contribution deduction for donating clothing to a charity. The taxpayers were a married couple, but the issues involved the transactions of the wife. Show More Summary

Does Learning About Taxes Change People’s Views About Fairness?

What makes people think the tax system is fair? In a fascinating new study, my Tax Policy Center colleague Vanessa Williamson found that people’s...

Muller:More Students Are Receiving More Scholarship Money To Attend Law School

Following up on Saturday's post, Average Inflation-Adjusted Student Debt Declined At 71% Of Law Schools Over Past Three Years: Derek Muller (Pepperdine), The Percentage of Law School Enrollees Receiving Scholarships Continues to Climb: While law schools have been raising their tuition, often quicker than inflation..., they may well be...

Newman:Should Olympic Medals Be Taxed?

Joel S. Newman (Wake Forest), Should Olympic Medals Be Taxed?: Ronda Rousey won the Bronze Medal in judo at the Beijing Olympics in 2008. She was the first American woman to do so. The medal itself would have brought her a measly four bucks, if she had been crass enough...

The IRS Scandal, Day 1420

Cause of Action, Sensitive Case Reports: A Hidden Cause of the IRS Targeting Scandal: Executive Summary: Beginning in February 2010, the Internal Revenue Service (“IRS’) singled out certain non-profit organizations for extra scrutiny when they applied for tax-exempt status. Numerous subsequent congressional investigations and media reports demonstrated that the targeting...

Getting to Know You Tuesday: Jennifer Correa Riera

It's Getting To Know You Tuesday! Today's tax professional is Jennifer Correa Riera.

West Virginia Would Have 10th Best Business Tax Climate Under HB 2933

Tomorrow (Wednesday, March 29th) is the last day that legislation can pass its chamber of origin in West Virginia, and the vote on HB 2933 is coming down to the wire. Were it to be adopted in its current form, the state would improve from 18th to 10th (once reforms fully phase in) on our […]

Yale Presents Mutual Fund Tax Overhang Today At Georgetown

Ethan Yale (Virginia) presents Mutual Fund Tax Overhang at Georgetown today as part of its Tax Law and Public Finance Workshop Series hosted by John Brooks and Itai Grinberg: The built-in-gain in a mutual fund’s portfolio is referred to as “tax overhang.” Tax is imposed on investors who buy shares...

Mason Presents A U.S. Perspective On State Aid Today In Luxembourg

Ruth Mason (Virginia) presents A U.S. Perspective on State Aid at the University of Luxembourg today: Tax Rulings as State Aid FAQ, 154 Tax Notes 451 (Jan. 23, 2017): In this report, the first in a series of reports on EU state aid, Mason provides background on state aid law...

Brooklyn Symposium:Reconsidering The Tax Treaty

Symposium, Reconsidering the Tax Treaty, 41 Brook. J. Int'l L. 967-1301 (2016): Steven A. Dean (Brooklyn) & Rebecca M. Kysar (Brooklyn), Introduction: Reconsidering the Tax Treaty, 41 Brook. J. Int'l L. 967 (2016) Yariv Brauner (Florida), Treaties in the Aftermath of BEPS, 41 Brook. J. Int'l L. 973 (2016) Allison...

ABA Places Arizona Summit Law School On Probation Following 25% Bar Pass Rate

Following up on my previous post, ABA Places Charlotte Law School On Probation, Censures Valparaiso: the ABA has placed Arizona Summit Law School on probation: The Council determined that the Law School's admissions practices, academic program (including its academic standards and academic support), and outcomes (graduation and bar passage) have...

Society Of American Law Teachers Opposes ABA Proposal To Allow Adjuncts To Teach More Law School Courses

Following up on last week's post, ABA Proposes To Eliminate Requirement That More Than 50% Of Law Teaching Be Performed By Full-Time Faculty: National Law Journal, ABA May Open Door to More Adjunct-Taught Classes: The American Bar Association is considering deep-sixing a rule requiring full-time faculty to teach at least...

NY Times Op-Ed:How To Con Black Law Students

New York Times op-ed: How to Con Black Law Students: A Case Study, by Elie Mystal (Above the Law): This month, Bethune-Cookman, a historically black university in Daytona Beach, Fla., announced an “affiliation” deal with Arizona Summit Law School, a for-profit institution in Phoenix. A joint scholarship program will send...

Magbanua’s Attorneys Chide Prosecutors' Fishing Expedition To Determine Who Is Paying Her Attorneys' Fees In Markel Murder Case

Tallahassee Democrat, Magbanua's Attorneys: State on a 'Fishing Expedition': Katherine Magbanua’s attorneys say prosecutors are on a fishing expedition to figure out who is paying her legal fees. Last month, Assistant State Attorney Georgia Cappleman set out to figure out whether the former in-laws of slain Florida State University law...

5 tax-saving investment options

Most high-income investors last were likely a little bummed last week when the Republican proposal to replace the Affordable Care Act failed. It didn't have anything to do with their personal opinions on Obamacare or health care in general. Show More Summary

5 FAQs about RMDs

The annual tax filing due date is the big day each April. Instead of falling on the usual April 15, the deadline for getting your taxes to the Internal Revenue Service this year is April 18. But some older taxpayers, specifically that first big batch of Baby Boomers who turned 70½ last year, are facing a key April 1 tax deadline. Show More Summary

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