Federal Tax Updates Archive

11th Cir Court Miscalculated Schwarzbaum FBAR, Violated APA

TweetShareSharePin0 Shares Court Miscalculated Schwarzbaum FBAR Penalty, Violated APA (11th Cir.) Court Miscalculated Schwarzbaum FBAR Penalty, Violated APA  As we have written about extensively here and here, the international tax law case of FBAR case of US v. Schwarzbaum is an important case for two primary reasons: First the Court ordered Defendant to repatriate foreign

New Bankruptcy Law – Five Essential Things to Know

TweetShareSharePin0 SharesNew Bankruptcy Law – Five Essential Things to Know Last April, Congress passed the Bankruptcy Abuse and Consumer Protection Act, the most sweeping reform of our nation’s bankruptcy laws in more than twenty-five years. Proponents of the bill argue that most consumers who file for bankruptcy do so simply because they do not wish

2022, Hopes and Fears: the Tax Justice Network podcast

TweetShareSharePin0 Shares In this special edition and first Taxcast of 2022, host Naomi Fowler talks with tax justice and anti-corruption campaigners and experts in Europe, Africa, the US and Latin America. What are our hopes and fears for 2022? And what should we be looking out for? Featuring: The transcript of the show is available here (some

Build on Success and Improve Corporate Taxes

TweetShareSharePin0 Shares Tennessee made important strides in improving its tax structure when it completed phaseout of the Hall Tax—the state’s income tax, which was levied only on interest and dividends income. This change was many years in the works, making Tennessee the eighth state without an individual income tax. But while Tennessee now boasts no

Kansas Sales Tax Reform Testimony

TweetShareSharePin0 Shares Note: The following is Tax Foundation testimony on Kansas House Bills 2484 and 2487 (Neutral), submitted to the Kansas House Committee on Taxation on January 25, 2022. Chairman Smith and Members of the Committee: My name is Katherine Loughead, and I am a Senior Policy Analyst at the Tax Foundation. I appreciate the opportunity

The IRS Made Me File A Paper Return. Then Lost It

TweetShareSharePin0 Shares The IRS lost my 2020 tax return. Well, according to the notice I got yesterday, the IRS says it “never received” the return. But I’m sticking with “lost.” Let me explain: As TaxVox readers may remember, I—and at least 3.4 million other tax filers—got caught in an IRS security trap last year. In

Dinners: A Great Fundraiser to Bring Awareness to Your Community

TweetShareSharePin0 SharesDinners: A Great Fundraiser to Bring Awareness to Your Community Are you a church leader or are you a member of a church group that is actively looking for ways to improve your congregation, your community, as well as the world in general? If you are, you may be looking to raise money. Whether

Ethics, Best Practices and SEO – A Crisis in the Profession?

TweetShareSharePin0 SharesEthics, Best Practices and SEO – A Crisis in the Profession? There has been much debate recently on the practice of ethical Search Engine Optimization (SEO). The recent removal of a high profile SEO company from the Google results has plunged the industry into yet another debate on what is ethical and what is

2022 VAT Rates in Europe

TweetShareSharePin0 Shares More than 170 countries worldwide—including all European countries—levy a Value-Added Tax (VAT) on goods and services. As today’s tax map shows, although harmonized to some extent by the European Union (EU), EU member states’ VAT rates vary across countries. The VAT is a consumption tax assessed on the value added in each production
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