news Archive

Extra! Extra! Should Local News Organizations Get Tax Breaks?

TweetShareSharePin0 Shares Local news organizations are vital to a well-functioning democracy. But they struggle financially and many fail, creating local news deserts. Some lawmakers think tax breaks for local news organizations can help.  This sounds reasonable. It might even feel righteous. But legislative efforts nationally and at the state level have yet to succeed. Why?

Lots of IRS News, Good And Bad

TweetShareSharePin0 Shares Taxpayer Advocate: “More misery in 2022.” In her annual report to Congress, National Taxpayer Advocate Erin Collins said taxpayers suffered “more misery” last year. Among the many problems: “About 13 million individual taxpayers filed paper returns….Refunds for these taxpayers were delayed, generally by six months or longer. Millions of e-filed individual returns were “suspended”

IRS Criminal Investigation in the News

TweetShareSharePin0 Shares 0 Flares Made with Flare More Info“> 0 Flares × Last week in The Fear of Funding I discussed the blowback on the Inflation Reduction Act and its funding for the IRS. Writing about the often byzantine world of tax procedure and tax administration

Another CR, CTC News, Don Lubick Dies

TweetShareSharePin0 Shares House passes stopgap spending measure. The House passed the measure to keep the government open through March 11. The bill now goes to the Senate.  White House urges parents to file their 1040s quickly to collect child tax credits. There is roughly $193 billion waiting for families eligible for remaining expanded child tax

EU To Table A Digital Tax Proposal In October

TweetShareSharePin0 Shares by Ulrika Lomas,, Brussels 15 September 2021 The European Commission has committed to tabling a proposal for a digital tax in October, whether or not an international agreement surfaces from OECD-led talks on new international tax rules for the world’s largest firms. The pledge was made after members of the European Parliament

US Lawmakers Approve New Cryptoassets Reporting Rules

TweetShareSharePin0 Shares by Mike Godfrey,, Washington 25 August 2021 The US Senate has approved the inclusion of new provisions in the bipartisan infrastructure bill to require intermediaries involved in cryptocurrency trading to report details about transactions. Despite concerns raised by various lawmakers that the provisions fail to provide clarity about who the reporting

Hong Kong Discusses US Termination Of Shipping Tax Pact

TweetShareSharePin0 Shares by Mary Swire,, Hong Kong 25 August 2021 The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories’ agreement that exempted shipping industry income from tax. US authorities announced in October 2020

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