The Spanish Supreme Court has rejected FC Barcelona soccer star Lionel Messi's appeal, confirming his conviction on tax fraud charges. His prison sentence will stand.
While most countries in the OECD have labored to reduce taxes on businesses, there is one exception. Chile introduced tax reform in 2012 and 2014, which increased the corporate tax rates and added stricter anti-tax-avoidance rules. Over the decade before the tax reforms Chile had almost tripled its per capita income of $4,700 in 2001 […]
Michael Knoll (Pennsylvania), Taxation, Competitiveness, and Inversions: A Response to Kleinbard, 155 Tax Notes 619 (May 1, 2017): In a 2014 article [Competitiveness’ Has Nothing to Do With It, 144 Tax Notes 1055 (Sept. 1, 2014)], Professor Edward D. Kleinbard leaped into the center of [the inversion] debate. In that...
Bill Henderson (Indiana), A Measure of Overcapacity in Legal Education: Between 1971 and 2010, the average entering 1L class at an ABA-accredited law school was 246 students with a very narrow band of fluctuation. The high-water mark was 262 in 2010. Every year since 2012 has set a new historical...
Religious freedom is not a valid defense for tax evasion. That was the ruling out of the Supreme Court of Indiana when it refused to hear an appeal from Rodney Tyms-Bey, who argued that the state’s Religious Freedom Restoration Act (RFRA) protected him from paying his taxes.
When Donald J. Trump gets back from his first trip abroad as president, he's going to come home to something all homeowners dread. There's a problem at the house. OK, with Trump we have to ask which house? While there's plenty goingShow More Summary
Joseph M. Dodge (Florida State), The Fair Tax: The Personal Realization Income Tax, 19 Fla. Tax Rev. 522 (2016): This article argues that the properly conceived fairness norm for taxation leads to a personal realization income tax. Fairness in taxation refers to “allocative tax fairness,” that is, the ethical/political standard...
The draft House Republican tax reform plan would permit businesses to immediately expense (write-off the cost in the first year) capital outlays instead of reporting the cost for tax purposes over lengthy depreciation schedules. The expensing would apply to buildings and other structures as well as to equipment. (The partial expensing provisions that have been […]
Tax evasion is serious, and payroll tax charges can be especially serious. Skirting payroll tax compliance like Robert N. Bertrand is alleged to have done, can be expensive. But getting to the IRS first before you are caught is key.
What seemed like a minor transgression when filing your tax return could end up being a tax crime punishable by years in prison. The IRS Criminal Investigation Division (CI) pursues about 3,000 criminal prosecutions per year to provide a deterrent effect to all taxpayers. If you have been chosen as one of the taxpayers to […]
Have you ever had that sinking feeling like you messed up on something big but it’s too late now to take it back? Like that angry email you sent to your boss spelling out why you should get a raise, only to find out that he/she was about to give you one. Show More Summary
It’s been a long time. Terry Branstad, who has spent more time as Iowa’s Governor than anyone has been governor anywhere, […]
Last week, a reader asked me if I was aware of a tax proposal in Oregon. I was not. The tax, proposed in Oregon House Bill 2877 would have been imposed on motor vehicles 20 years old or older, at the rate of $1,000 every five years.Show More Summary
Following up on my previous posts (links below): National Law Journal, With New Lobbyists, Charlotte Law Disperses Federal Student Loans as School Year Ends: The beleaguered Charlotte School of Law finally got some good news earlier this month when the U.S. Department of Education released federal loan money to some...
The Hill op-ed: Trump's Tax Plan Can Boost, Not Reduce, Homeownership, by Dennis J. Ventry, Jr. (UC-Davis): President Trump’s tax plan has the housing industry in a tizzy. The National Association of Realtors (NAR) says it puts “at risk... targeted tax incentives” like the mortgage interest deduction (MID) and...
Former FC Barcelona president Sandro Rosell has been arrested. Rosell's arrest followed several early morning raids on Rosell's businesses as well as his home near the famed Camp Nou where the Barcelona soccer team plays, as part of a suspected money laundering scheme.
It's Getting To Know You Tuesday. Today our tax pro is Louis T. Wierenga.
Mick Mulvaney, the Trump Administration's Office of Management and Budget Director, met the press this morning to discuss the 45th president's fiscal year 2018 budget proposal. (Screenshot of C-SPAN broadcast; click image to watch the full event) It's official. Show More Summary
Written Testimony Submitted to the U.S. House Committee on Ways and Means The problems with the current corporate income tax are well-known. The current corporate tax discourages investment, creates an incentive to finance spending with debt over equity, encourages companies to shift profits and headquarters overseas, and is overly complex. In June 2016, the House […]
Today, the House Committee on Ways and Means will hold a hearing on “Increasing U.S Competitiveness and Preventing American Jobs from Moving Overseas.” The hearing is expected to focus primarily on the border adjustment, a central feature of the tax plan released last June by Speaker Paul Ryan and Chairman Kevin Brady. This will be […]