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Jurisdiction to Hear Naked Owners’ Wrongful Levy Suit Hinges on State Property Law

TweetShareSharePin0 Shares We welcome back guest blogger Matthew Hutchens of the University of Illinois Gies College of Business. With co-author Erin Stearns, Hutch recently updated the lien and levy chapters of Effectively Representing Your Client Before the IRS. In today’s post, he examines a recent Fifth Circuit opinion in which niche questions of Louisiana law

TPC Experiments with Another Model to Estimate the Economic Effects of Tax Law Changes

TweetShareSharePin0 Shares The Tax Policy Center has traditionally measured the macroeconomic effects of tax changes based on historical experience and empirical estimates from the economics literature. But that isn’t the only way to estimate how tax changes affect the overall economy. Another one, implemented in the OG-USA model, considers how households respond to expected future

Supreme Court lets health care law stand

TweetShareSharePin0 Shares The U.S. Supreme Court held on Thursday that several states and other plaintiffs that sued, asking the federal courts to declare unconstitutional the so-called individual mandate in the Patient Protection and Affordable Care Act (PPACA), P.L. 111-148, did not have standing to sue because they could not show that they had suffered or

US IRS Flags Deadline For Q2 Estimated Tax Payments

TweetShareSharePin0 Shares by Mike Godfrey, Tax-News.com, Washington 09 June 2021 The US Internal Revenue Service has issued a reminder to taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without incurring a penalty. Estimated tax is the method

Countries Discuss Post-Pandemic Tax Agenda At UN Council Meeting

TweetShareSharePin0 Shares by Ulrika Lomas, Tax-News.com, Brussels 12 May 2021 Experts speaking at the UN’s Economic and Social Council’s annual Special Meeting on International Cooperation in Tax Matters concluded that the international community must do more to tackle tax base erosion and profit shifting and offshore tax evasion. Among other pressing topics, tax policy

US IRS Reminds Of FBAR Filing Obligation

TweetShareSharePin0 Shares by Mike Godfrey, Tax-News.com, Washington 15 April 2021 The Internal Revenue Service is reminding US citizens, resident aliens, and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021. The extension of the federal income tax filing due

US Tax Season Begins

TweetShareSharePin0 Shares by Mike Godfrey, Tax-News.com, Washington 22 February 2021 The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns. Taxpayers have until Thursday, April 15, 2021, to file their 2020 tax return and pay any tax owed. The IRS

Cayman Tables Law For Digital Asset Business Regime

TweetShareSharePin0 Shares by Jason Gorringe, Tax-News.com, London 17 November 2020 The Government of the Cayman Islands has published legislation in its Official Gazette to introduce a regulatory regime for virtual asset service providers (VASPs). The Virtual Asset (Service Providers) Law, 2020 is intended to strengthen the Cayman Islands’ ability to regulate and attract persons

BVI Rules Out New Taxes In 2021 Budget

TweetShareSharePin0 Shares by Jason Gorringe, Tax-News.com, London 17 November 2020 The Government of the British Virgin Islands has announced that it will seek to boost tax collections by modernizing tax administration, not by imposing new taxes. In his 2021 Budget statement, Andrew Fahie, the territory’s Finance Minister, said: “The transition into e-Government will be

OECD Indicates New Focus On Virtual Currency Tax Issues

TweetShareSharePin0 Shares by Ulrika Lomas, Tax-News.com, Brussels 20 October 2020 The OECD has released a new report on countries’ tax rules for virtual currencies, alongside an announcement that the Common Reporting Standard will be expanded next year to newly cover virtual currency assets. The report and announcement indicate that crypto assets will be a
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