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Tax Fraud in The People’s Court

Every now and then an episode from a television court show touches on taxation. Sometimes it is tangential and sometimes it is direct. At various times during the past four years, I have commented on these cases, beginning with Judge...Show More Summary

Former U.S. Representative Grimm Sentenced To Prison For Tax Fraud

Today, U.S. District Judge Pamela Chen sentenced former U.S. Representative Michael Grimm (RR-NY) to eight months in prison on tax related charges.

Alberta Seeks Tax Hike

Last week, legislation was proposed in the Canadian province of Alberta that could soon change its corporate income tax rate and personal income tax starting on July 1 and October 1, respectively.  Joe Ceci, the Minister of Finance, introduced the Act to Restore Fairness to Public Revenue in an effort to implement a progressive tax structure. Show More Summary

Tax Deadline Looms For Tax Exempt Organizations

Tax season isn't over just yet! Friday, May 15, 2015, marks the filing deadline for many tax exempt organizations.

Taxes and the Star Wars Universe

Taxes are everywhere, and that includes the Star Wars universe. In Episode I: The Phantom Menace, the opening crawl brings up taxes almost immediately: Turmoil has engulfed the Galactic Republic. The taxation of trade routes to outlying...Show More Summary

‘Squirrel’ Threatens To Bomb IRS Building

A South Florida man called in a bomb threat involving an IRS building last week. He now faces up to 10 years in federal prison.

Heart Surgery & Hospital Stays: Deducting Medical Expenses On Your Tax Return

Paying for hospital stays and other out of pocket medical expenses can be expensive. What can you deduct on your tax return? And what if those expenses aren't for you but for someone else like your parents? Here's what's deductible (and what's not).

Paying Your Taxes In Bitcoin? Bill Would Make It Easy.

Thinking of paying your taxes in Bitcoin? That might not be so far-fetched. While you can pay your taxes now in Bitcoin using a third-party processor, states like Utah and New Hampshire are considering making it an official payment option.

Jim Poterba Wins Holland Award

The National Tax Association gave this year’s Dan Holland Medal for outstanding contributions to the study and practice of public finance to MIT professor Jim Poterba. Jim, who is also president of the National Bureau of Economic Research, is a terrific economist and one of the nicest people you’ll ever meet. Show More Summary

IRS Loses ‘Lavish Spending Is Tax Evasion’ Case, Big Spenders Rejoice

If you spend big on luxuries while stiffing the IRS, is that willful tax evasion? The IRS might say so, but a recent court case says you can spend away.

Blue State Voters Sent A Repeat Message On Taxes

Maybe the pundits shouldn't be so shocked by Republican Larry Hogan's win in the Maryland governor's race. Blue state voters have done it before, when tax hikes got out of hand.

Cheap Talk, Scoring, and Promises

Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then.  Counting devices before they hatch? Should the GOP take the Senate in November, medical device makers may see a renewed push to repeal the 2.3 percent excise tax on their products. Show More Summary

Lois Lerner And The Terrible, Horrible, No Good, Very Bad Day

Alexander's Horrible, Terrible Very Bad Day is the Flip Side of Ferris Bueller's Day Off. Lois Lerner Just had a Bad Day Too, Not Unlike Many Taxpayers. Maybe She'll Move to Australia?

IRS Taxpayer Bill of Rights

In June 2014, the Internal Revenue Service released a “Taxpayer Bill of Rights” at the recommendation of the Taxpayer Advocate Service. The publication attempts to clearly outline the fundamental rights a taxpayer has when filing their...Show More Summary

Back To School 2014: Casualty Loss And Theft Deduction

Most taxpayers know that deductions are available for businesses which suffer a loss as a result of a theft or casualty (like a natural disaster). But did you know that individual taxpayers can claim a tax deduction for those losses, too?

Best Tax Excuse Ever? ‘Phobia Of Bureaucracy’

Tax Excuses Can Get Stale, But a French Minister Used "Administrative Phobia" Why He Failed to Pay Taxes for Years.

From AR-15s To Rubber Bullets: How Did Police End Up With Military Gear On American Streets?

When images of the police in Ferguson, Missouri, wearing camouflage, wielding assault weapons and navigating military-style vehicles, many Americans were shocked by the sheer amount of military equipment on the streets. Where did it come from? And how could a relatively small suburb in middle America afford it?

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