The U.S. Soccer Federation’s latest tax return does not yield a treasure trove of information because of the period it encompasses: April 2013 through March 2014. Had it gone through this summer it would have included Jurgen Klinsmann‘s new contract as men’s national team coach, a pact that went into effect in August; further insight […]
After years of anticipation, penalties for not having healthcare coverage will finally hit your tax return in 2014.
Credits: Miguel Medina Alt Text: Tax return 2014 Starting work now on your tax return for 2013-14 could save you thousands of pounds Personal Finance Friday, December 5, 2014 - 3:45pm It's that time of year again. Along with organising...Show More Summary
Provided without comment, except to say that I’m shocked, shocked. Feds balk at releasing docs showing IRS sharing tax returns with White House “Most transparent administration in history?” Um-huh. Sure. Whatever. Yeah, your leg’s wet again. And it’s not rain.
What happened to truth in advertising? Imagine if a law were enacted that declared that people could only call themselves on the Internet by the same monikers inscribed in the "Occupation" boxes of their tax returns. How many of theShow More Summary
IRS SCANDAL UPDATE: Feds balk at releasing docs showing IRS sharing tax returns with White House. Less than a week after ’fessing up that it found some 2,500 documents potentially showing that the IRS shared taxpayer returns with the White House, the Obama administration has reversed course and won’t release the trove to a group […]
'Smidgen' may be the big word of 2014, but even a smidgen of willfulness on your tax return can mean IRS penalties, even jail.
Peter and Kathleen Kuretski submitted a 2007 tax return showing they owed almost $25,000 but they didn't pay a penny. In the administrative process within the IRS, they sought approval of an "offer in compromise" where they would pay $1000...
Martin v. Her Majesty the Queen, 2014 TCC 200 (2014): After filing his 2010 tax return, M. Martin sought to claim $14,000,000 of disposition costs for his former clientele and increase his capital loss by a like amount – from $800,000 to $14,800,000. M. Martin arrived at his $14,000,000 disposition...
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 […]