tax Archive

TweetShareSharePin0 Shares In the face of growing concerns, Representative Jimmy Panetta, a Democrat from California, and Representative Tom Rice, a Republican from South Carolina, have introduced legislation that would place stricter controls and regulations on those who are paid to assist taxpayers in the preparation of their tax returns. The Taxpayer Protection and Preparer Proficiency

TweetShareSharePin0 Shares Job creation tax credits. Investment tax credits. Research and development tax credits. Payroll withholding tax rebates. Property tax abatements. Those are just five of the major categories of tax incentives states offer with the goal of encouraging new investment and economic development in their state. Nearly all states offer at least one of

TweetShareSharePin0 Shares When Bryan was writing his post, we had an exchange about OICs.  Some of the comments I provided to him I might have provided in posts over the years, but I will state them here in case we have new readers or old readers with memories like mine.  Most of these comments relate

TweetShareSharePin0 Shares Under a territorial tax system, multinational businesses primarily pay taxes to the countries in which they are physically located and earn their income. This means that territorial tax regimes do not generally tax the income companies earn in foreign countries. A worldwide tax system, on the other hand—such as the system previously employed

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

TweetShareSharePin0 Shares The case of Mason v. Commissioner, T.C.M. 2021-64 shows at least one benefit of submitting an offer in compromise (OIC) through a request for a collection due process (CDP) hearing.  As part of his lessons from the Tax Court series, Bryan Camp has written an excellent post both on the case and the

TweetShareSharePin0 Shares While President Biden has called climate change an existential threat, his proposals for addressing it remain modest relative to the enormity of the problem. In part, that’s because he’s taken off the table a carbon tax, the solution favored by many economists and climate experts. And one reason may be opposition from some