Frank Fagan (Erasmus University Rotterdam), The Fiscal Cliff as Reelection Strategy: Rethinking the Temporary Taxation Debate, 116 W. Va. L. Rev. ___ (2014): Recent scholarship [Rebecca Kysar, Lasting Legislation, 159 U. Pa. L. Rev. 1007 (2011); Frank Fagan & Michael Faure, The Role of Lawmakers, Lobbyists, and Interest Groups in...
The last week appears to have been tax week at the federal level, with Chairman Dave Camp’s (R-MI) proposal coming out in late February, and President Obama’s FY 2015 budget proposal released yesterday. We’ve written on both proposals,...Show More Summary
Gerald E. Auten (Office of Tax Analysis, U.S. Treasury Department) presents New Perspectives on Income Mobility and Inequality at Pennsylvania today as part of its Center for Tax Law & Policy Seminar Series hosted by Michael Knoll, Chris Sanchirico, and Reed Shuldiner: This study examines several dimensions of income mobility...
Frigid Wyoming, Alaska, Minnesota and North Dakota come out on top in a new academic study of the state of retirement financial security in the states. Florida and South Carolina join California at the bottom.
(Hat Tip: Dan Rodriguez.)
President Obama released his fiscal year 2015 budget yesterday. Overall, the president proposes to increase revenue by $1.759 trillion over ten years. This new revenue comes in the form of a couple large tax changes, numerous small tax...Show More Summary
The President trotted out his old petty tax increases in his 2015 budget yesterday, and a few new ones. The […]
Optimize your taxes with a Tax Opinion before Filing, and Get Audit Protection Too.
Last Wednesday, in Making Taxes Fun, I reacted to a quip by Harry Gross in which he asked and answered a question, “Fairest [tax] of all? A self-assessed tax on men based on virility, and on women based on beauty.” I pointed out that,...Show More Summary
Need some light reading? The President’s Budget for Fiscal Year 2015 came out yesterday. Obama’s $3.9 trillion fiscal blueprint includes about $1 trillion in new taxes, mostly on the wealthy and large businesses, to fund a combination of new programs and deficit reduction. Learn more (a lot more) about the revenue proposals in the Treasury’s […]
When House Ways & Means Chairman Dave Camp rolled out his tax reform last week, the Joint Committee on Taxation evaluated its macroeconomic impacts. Using two different models, the nonpartisan JCT found the plan would boost gross domestic product between 0.1 percent and 1.6 percent over the next ten years, which would increase federal revenue […]
President Obama yesterday released his Fiscal Year 2015 Budget. The Treasury Department released the 297-page Green Book (General Explanations of the Administration’s Fiscal Year 2014 Revenue Proposals) (revenue tables here). Accounting Today, Obama Budget Proposal Includes Tax Provisions Inside Higher Ed, Obama's Budget Calls for Tax Breaks for Students Los...
Did you relocate for work last year? If so, you might be able to deduct the cost of moving. Moving expenses are deducted if a person started a new job and the new job is located at least 50 miles farther from your old home than the distance between your old home and your old job. Show More Summary
Press Release, Cleveland-Marshall First School to Offer Risk-Free J.D. with ‘Convertible’ Degree Option: Cleveland-Marshall College of Law at Cleveland State University is removing some of the personal and financial risk that goes along with committing to a three-year law degree. Beginning this spring, if a J.D. student decides not to...
The AALS Section on Agency, Partnerships LLCs, and Unincorporated Associations has issued a call for papers for the 2015 AALS Annual Meeting in Washington, D.C.: Bringing Numbers into Basic and Advanced Business Associations Courses: How and Why to Teach Accounting, Finance, and Tax: Business planners and transactional lawyers know just...
Forbes: CREW Fails to Force IRS to Take Even Harder Stand on 501(c)(4) Political Spending, by Peter J. Reilly Fox News: Is This the IRS Scandal's Smoking Gun? Legal Insurrection: Lois Lerner’s on Again, Off Again, on Again (?) Testimony Washington Post: Attorney Denies Issa Claim That Lois Lerner Will...
Taxes From A to Z: B Is For Basis.
This week, we're celebrating the birthday of Dr. Seuss. Here's my tax ode to Dr. Seuss. Enjoy!
Life just got more real for Teresa and Joe Giudice. The couple, known for their over the top lifestyle on Bravo's "Real Housewives of New Jersey" have pleaded guilty to a number of charges and now face the possibility of jail - and deportation.
By proposing a far-reaching and detailed rewrite of the Revenue Code, House Ways and Means Committee Chair Dave Camp (R-MI) did something very few elected officials have done in recent years: He stuck out his neck and proposed radical reform. The initial press response has focused on politics and concluded that neither Republicans nor Democrats […]