Other Despite their well-known tendencies to procrastinate, American taxpayers always like to have at least some sense of what they're likely to owe on their tax returns. Unfortunately, the government doesn't always provide those answers...Show More Summary
In number of firms, pass-throughs are the dominant business type, with over 30 million tax returns in 2011. Pass-throughs are unique in that all pass-through business income is taxed at individual tax rates. Over the last 30 years, the number of pass-throughs has increased substantially. Show More Summary
In June this year, 2.4 million Australians had signed up for the myGov centralised online account for government services. That number now stands at 5.8 million — because myGov is needed if you want to submit your own tax return online. More »
By Gavin Jamieson,A.C. Grimes Published: November 11th, 2014 Everybody cheats. No, we're not talking about in a sexual way -- this ain't Cosmo. We're talking, say, fudging a few cents on your tax return or sneaking some notes into the exam room, or maybe making sure your friend got the shitty controller when h
A Court that messes with the health insurance Americans have purchased is an illegitimate Court. Supreme Court Judges who vote against the people should be investigated (with an audit of all tax returns included) as to why they voted that way. Cartoon by Jim Morin from 2010. Yeah. Open thread below...
When businesses suffer losses in a calendar year, well-structured corporate tax codes allow them to deduct those losses against previous or future tax returns. These provisions are called net operating loss (NOL) carrybacks and carryforwards. Show More Summary
As we have noted here several imes in the last few years, Section 280E of the Internal Revenue Code bars state-licensed marijuana merchants from deducting business expenses on their tax returns. USA Today reports hat disallowing those deductions can result in an effective tax rate ranging from 70 percent to 100 percent. Show More Summary
The National Association of Enrolled Agents recently released a warning that the Affordable Care Act Marketplace may complicate tax returns. The NAEA is an organization of tax professionals that are specially licensed through the Department of Treasury and can represent individuals directly to the IRS. Show More Summary
A new paper by French economists Emmanual Saez and Gabriel Zucman discusses a new technique for using tax returns to estimate top wealth shares. They find that wealth inequality has been increasing such that the top 1 percent now control...Show More Summary
The Federal Circuit has dismissed the American Institute of CPAs challenge to the IRS's Voluntary Tax Return Preparer Program on standing grounds. For more, see Fuller Tax Blog and Law 360. Prior TaxProf Blog coverage: CPAs: IRS's 'Voluntary' Regulation of Tax Preparers Lacks Statutory Authorization From Congress, Contravenes D.C. Circuit...
Our previous sexy Halloween costume mockery was so popular (30,000 likes!), we thought we’d offer you another. This one is from genius comic Gemma Correll. Lose hours on her site like I did. I dare you to click. Lisa Wade is a professor of sociology at Occidental College and the co-author of Gender: Ideas, Interactions, Institutions. You […]
Back in 1998, one of the provisions of Internal Revenue Service Restructuring and Reform Act called for the tax agency to get 80 percent of its returns electronically by 2007. Targets are all well and good, but as anyone who has dealt with Uncle Sam knows, he tends to run on its own, usually slower, timetable. Show More Summary
Do you know Mr Mac ap Jones? Probably not, since he is the creation of the former cabinet minister Lord Richard of Ammanford. Or rather, he might argue that Mr Mac ap Jones is the creation of clause 8 of the Wales Bill, (which had its...Show More Summary
When Mitt Romney released his tax return information during the 2012 presidential campaign, many of us were introduced to the world of supersized IRAs. Romney somehow had a tax-preferred retirement nest egg valued at $101 million. Maybe he got there by making standard annual contributions and investing really well. Show More Summary
Bruce Rauner earned $60.1 million last year, according to his tax returns. That’s some hammering and shaking. [ more › ]
New York residents who asked for an extension to file their state income tax returns face a filing deadline Wednesday. State tax officials say that of the 740,000 taxpayers who requested an extension, 400,000 have yet to file.
The drop-dead filing deadline for 2013 tax returns is just a few days away. So of course the Internal Revenue Service is putting up a "closed" sign. OK, it's more like a "taking a long lunch" sign. But the bottom line is that many of the agency's systems will be offline starting at 5 p.m. Show More Summary
Republican governor candidate Bruce Rauner made $60.15 million last year — up from $53 million the year before, according to cover sheets of his tax returns his campaign released Friday.
I filed our 2013 federal tax return yesterday, a whole eight days before it was absolutely, positively due. But some of the 3 million or so filers (out of 13 million who filed for an extension back in April), will wait until Oct. 15 to send their 1040s to the Internal Revenue Service. Show More Summary
October 15, the deadline for filing last year's tax returns, is right around the corner. My accountant's deadline was today, but I'm not done, so he has graciously given me until tomorrow morning to get everything to him. I will be... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]