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Tax Roundup, 2/26/15: Fifth circuit bails out abandonment. And: gas up before Sunday, Iowa!

Fill ‘em up Saturday. Iowa’s Governor Branstad signed a 10-cent per gallon gas tax boost into law yesterday. It takes effect […]

When is it Acceptable to Redefine Income?

Earlier this month there was a little argument between the Treasury Department and the Tax Policy Center. The argument was over a particular provision: the White House’s proposal to tax accrued (but unrealized) capital gains at death. The...Show More Summary

Senate Holds Hearing Today on The Coming Debt Crisis

The Senate Budget Committee held a hearing this morning on The Coming Crisis: America’s Dangerous Debt (with links to testimony): Laurence Kotlikoff (Boston University), America’s Fiscal Insolvency and Its Generational Consequences Heather...Show More Summary

What We Hear When We Talk About Taxes... Musings of a Tax Hound

It’s been just over a year since I started posting TPC’s Daily Deduction. It’s high time I let you in on a little secret: Whenever I tell people that I write about “tax news and research” I get the exact same reaction. Imagine furrowed eyebrows, coupled with a sad, “Oh.” Every. Show More Summary

Survey says tax refunds going into savings, paying off debt

Who loves tax season more than the Internal Revenue Service? Retailers. Flush with cash that Uncle Sam has been collecting from paychecks all year, Americans take their tax refunds and head out to stores. Or maybe not. The results of a new poll look like they might dampen the anticipation of many shop owners. Show More Summary

Obamacare Cadillac Tax Is No Rolls Royce. New IRS Guidance Makes It A Lemon

The Affordable Care Act's Cadillac tax slaps a 40% excise tax on companies that provide health insurance that is too good. It is in the law, so debating its fairness if moot. Yet administering the tax will be untying a Gordian Knot, as the first IRS guidance reveals.

Raising Taxes, GOP Style

Are they for ‘em or against ‘em? When it comes to taxes and GOP governors, TPC’s Richard Auxier says, “The answer depends on the tax. Given budget demands, Republican governors are open to new tax revenue—as long as it is never, ever from individual income taxes.” Case in point: Iowa may soon see its first […] The post Raising Taxes, GOP Style appeared first on TaxVox.

Seto: Law School Rankings by 2014 Graduates Hired into BigLaw Jobs

TaxProf Blog op-ed: Law School Rankings by 2014 Graduates Hired into BigLaw Jobs, by Theodore P. Seto (Loyola-L.A.): On Monday, February 23, TaxProf Blog blogged the National Law Journal’s article, The Go-To Law Schools, which identified “the top 50 law schools by percentage of 2014 juris doctors who took jobs...

Dexter: A Tax Expenditure Approach to Reparations

Bobby L. Dexter (Chapman), The Hate Exclusion: Moral Tax Equity for Damages Received on Account of Race, Sex, or Sexual Orientation Discrimination: Scholars on both sides of the reparations literature divide commonly contemplate some form of federal monetary outlay. At the same time, given both the absence of such an...

The IRS Scandal, Day 658

Washington Free Beacon, Lois Lerner Received $129K in Bonuses: Former IRS official Lois Lerner received $129,300 in bonuses between 2010 and 2013, records obtained through the Freedom of Information Act show. Over a three-year period, Lerner, the head of the tax-exempt division at the heart of the IRS targeting scandal,...

Actress Emma Thompson Refuses To Pay Taxes Over HSBC Scandal

HSBC's Swiss unit is still under fire, as are many in the UK. Meanwhile, Emma Thompson and her husband vow not to pay taxes until the rich pay theirs.

Looking For Your Refund? Need To Ask A Question? Finding Answers At IRS.

Looking for tax help? IRS offers help via the web, mail, phone and email. Here's what you need to know.

Wages Rise at Major Retailers

Only a week after Wal-Mart Stores Inc. announced plans to raise their starting wages to $9 per hour this year and $10 per hour next year, the retail conglomerate that includes T.J. Maxx, Marshalls, and HomeGoods announced similar plans. This is excellent news. Show More Summary

McDonald’s Accused Of Supersizing Profits, Skirting $1.13 Billion In Taxes

McDonald's has been attacked in Europe for skirting over $1 billion in taxes, hurting European taxpayers and workers while raking in the cash. Is McDonalds more Apple than Apple?

Putting the Puzzle Pieces Together on Corporate Integration

We’ve been covering a number of important issues in tax policy lately. My colleague William McBride has been covering the decline of the traditional American C corporation. He has found that the number of traditional C corporations in...Show More Summary

Tax Prof Brant Hellwig Named Dean at Washington & Lee Law School

Continuing the stunning series of developments over the past week at Washington & Lee Law School (links below): Brant Hellwig Named Next Dean of W&L Law: Washington and Lee University President Kenneth P. Ruscio has announced the appointment of Brant Hellwig, professor of law at Washington and Lee University and...

More forgiving IRS to waive some bad 1095-A tax penalties

A kinder, gentler Internal Revenue Service was born back in 1998 when the IRS Restructuring & Reform Act was enacted. Now the Affordable Care Act appears to have given us the forgiving IRS. Premium tax credit considerations: EarlierShow More Summary

Field Presents Aggressive Tax Planning and the Ethical Tax Lawyer Today at Toronto

Heather Field (UC-Hastings) presents Aggressive Tax Planning and the Ethical Tax Lawyer at Toronto today as part of its James Hausman Tax Law and Policy Workshop Series: [H]ow should a tax planner, who wants to engage in “permissible tax planning” but not cross the line over into “unethical loophole lawyering,”...

The First Two Law Schools to Drop the LSAT Could Be Just the Beginning

Bloomberg, The First Two Law Schools to Drop the LSAT Could Be Just the Beginning: Two law schools said this month that they would begin accepting applicants who have not taken the Law School Admissions Test, a move that may help curb weak interest and plunging enrollments in law schools...

Replacing the Gas Tax with a Mileage-Based Tax

This week, the Mileage-Based User Fee Alliance held their annual conference. I was invited to speak on the tax policy and the taxpayer perspective of mileage-based taxes, or sometimes referred to as vehicle miles traveled (VMT) taxes. Show More Summary

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