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How To Donate Bitcoin To Charity And Get A Big Tax Deduction

New IRS rules create paperwork problems for users of virtual currency, but also allow generous income tax deductions for Bitcoin donors.

Japan Plans to Cut Corporate Tax Rate, Leaving U.S. Further Behind

Japan looks likely to cut its corporate tax rate by 2 to 3 points in 2015, according to Bloomberg: Japan’s corporate income tax may be cut by more than 2 percentage points next year and reduced to less than 30 percent within five, Economy...Show More Summary

Starting Your Own Business Offers Great Tax Benefits

Alamy The way to get a substantial pay raise in 2015 is to focus on your net income -- not your gross income -- by reducing your income tax liability. The first step is to understand how the tax system works. The current system is set up to benefit business owners at the expense of salaried or hourly employees. Show More Summary

Piketty Sticks to Wealth Tax Proposal, Sees Positive Signs

Thomas Piketty’s “Capital in the 21 st Century” was a 2014 must-read for anyone interested in economics. But while his claim that income and wealth inequality has risen over recent decades to highs last seen before the start of the First World War  was widely accepted, his policy prescriptions were not.

WSJ: How Google, GE and U.S. Firms Play the Tax ‘Audit Lottery'

Wall Street Journal, How Google, GE and U.S. Firms Play the Tax ‘Audit Lottery’: Buried deep in American companies’ securities filings is an indicator for how aggressively they are working to shield their income from the IRS and other tax authorities. The obscure entry—under the heading “uncertain tax positions” or...

This Wasn't Supposed To Happen: 7 In 10 Americans To Save, Spend Gas "Tax Cut" On Bills Not Gifts

The lower-gas-price-tax-cut is "unequivocally good" meme is becoming more and more full of holes by the day. All that extra disposable income means moar iPhones, moar dining-out, and moar GDP... right? Wrong! As CBS reports, a new poll finds 73% of Americans will not use any extra cash from lower gas prices to buy additional gifts. Show More Summary

Madison: The Tax Consequences of Services Provided by Single People in a Relationship

Allen D. Madison (South Dakota), The Taxation of Gratuitous Services Gone Out of 'Control', 45 U. Mem. L. Rev. 115 (2014): How does the IRS’s ruling that both parties to an exchange of services are subject to income tax apply in the dating context? When meeting, dating, living together, or...

Morse: Important Developments in Federal Income Taxation (2014)

Edward A. Morse (Creighton), Important Developments in Federal Income Taxation (2014): This outline, prepared for the 52nd Annual Great Plains Tax Institute in Omaha, Nebraska (December 4-5, 2014) covers significant developments in federal income taxation along with a few other interesting or noteworthy tax topics. It is not intended to...

Crane Reviews Halperin & Warren, Understanding Income Tax Deferral

Charlotte Crane (Northwestern), Keeping Us Honest About the Timing Flaws in the Income Tax (Jotwell) (reviewing Daniel I. Halperin (Harvard) & Alvin C. Warren Jr. (Harvard), Understanding Income Tax Deferral): The recent attempt of Halperin and Warren to lay out with some precision what is at stake in the various...

Shaviro: The Case for 1986-Style Corporate Tax Reform

Daniel N. Shaviro (NYU), Evaluating the Case for 1986-Style Corporate Tax Reform, 145 Tax Notes 1267 (Dec. 15, 2014): Shaviro explores the relationship between taxing corporate income at the entity level and the difficulties in evaluating whether a corporate rate cut would be desirable without significant structural changes.

Agent's Take: The real highest-paid NFL players of 2014

Who is the NFL's highest-paid player in 2014? You might be surprised when salary deferrals and state income taxes are factored in. We do the math.

TaxProf Blog Weekend Roundup

Saturday: Four Charts That Explain Why America Has Too Many Law Schools Life and Death in the Federal Income Tax Class NY Times: Life Insurers Use State Laws to Avoid $100 Billion in U.S. Taxes The IRS Scandal, Day 583 Sunday: College For Grown-Ups Top 5 Tax Paper Downloads Witte:...

State Street in Bristol, Virginia

Lest they become an income tax nightmare the twin cities of Bristol, Tennessee and Virginia are two separate territories, each in their respective state, but one might be hard pressed to tell since the dividing line for the cities and the states is a single street that runs through their mutual downtown. Show More Summary

Why a Big Income Tax Refund Is Not a Good Thing

If you're expecting a big tax refund check from Uncle Sam, you're doing it wrong.

Life and Death in the Federal Income Tax Class

In Memoriam: Theodore Eisenberg [1947-2014], 100 Cornell L. Rev. 1, 3 (2014): Thank you, Professor Eisenberg, for making a course I feared taking since day one of [Harvard Law School] enjoyable. Really enjoyable. There were days when I thought, My god, it can’t be, I like tax. Prof. Eisenberg is...

Weekly SSRN Tax Roundup

Yuri Andrienko (Sydney) & Patricia F. Apps (Sydney), Gender Bias in Tax Systems Based on Household Income Bruce Bartlett, The Joint Economic Committee in the Early 1980s: Keynesians versus Supply-Siders, 27 J. Pol'y Hist. 184 (2015) Eric Brunner (Connecticut), Stephen Ross (Connecticut) & Becky Simonsen (Columbia), Homeowners, Renters and the...

Geier Publishes Free Income Tax Textbook

Deborah H. Geier (Cleveland State) has published a free eLangdell textbook, U.S. Federal Income Taxation of Individuals (CALI 2014): As one, lone law professor, I have little direct ability to reduce tuition costs for my students. When writing this textbook, however, I decided to decline expressions of interest from the...

TIGTA: IRS Has 25-30% Error Rate In Refundable Child Tax Credits, Mistakenly Pays $6-7 Billion

The Treasury Inspector General for Tax Administration yesterday released Existing Compliance Processes Will Not Reduce the Billions of Dollars in Improper Earned Income Tax Credit and Additional Child Tax Credit Payments (2014-40-093): The Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) are refundable credits designed to help...

Watchdog Report: IRS Paid Out More Than $20 Billion in Erroneous Low-Income Tax Credits

The Internal Revenue Service paid out $14.5 billion in erroneous Earned Income Tax Credit payments and between $5.9 billion and $7.1 billion in improper Additional Child Tax Credit payments in Fiscal Year 2013, according to a new government watchdog report. Show More Summary

Jeff Sessions: Illegals Could Receive Thousands from Feds Without Paying Income Taxes Under 'Post-Modern' Amnesty

On Monday, Sen. Jeff Sessions (R-AL) warned that illegal immigrants may receive thousands of dollars from the federal government without paying income taxes after President Barack Obama's "post-modern" executive amnesty is enacted. Speaking...Show More Summary

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