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tax Archive

Significant Changes in New Draft Form 8857

TweetShareSharePin0 Shares We welcome as her second visit to the blog my colleague in the tax clinic at the Legal Services Center of Harvard Law School, Audrey Patten.  Audrey has developed a significant docket of innocent spouse cases and is currently working with Christine to write the third edition of A Practitioner’s Guide to Innocent Spouse

Net Operating Loss (NOL) Tax Provisions in Europe

TweetShareSharePin0 Shares Loss carryover provisions allow businesses to either deduct current year losses against future profits (carryforwards) or current year losses against past profits (carrybacks). Many companies have investment projects with different risk profiles and operate in industries that fluctuate greatly with the business cycle. Carryover provisions help businesses “smooth” their risk and income, making

McAfee Facing Crypto & Tax Evasion Alleged Suicide Pre-Extradition

TweetShareSharePin0 Shares McAfee Facing Crypto & Tax Evasion Alleged Suicide Pre-Extradition McAfee Facing Crypto & Tax Evasion Alleged Suicide Pre-Extradition: John McAfee, who had recently been charged with various tax crimes in the United States for cryptocurrency fraud and evasion — was facing many possible years in prison if convicted. The U.S. sough to extradite

State Wine Taxes | Compare 2021 Wine Tax Rates

TweetShareSharePin0 Shares Whether you’re a self-appointed connoisseur or an occasional sipper of chardonnay, you may not have thought about the taxes that go into your wine purchase. But now you can quench your newfound thirst for excise tax info with this week’s map, which compares wine taxes among the 50 states, expressed in dollars per gallon. States

“With every move he makes, another chance he takes”

TweetShareSharePin0 Shares Today we have the pleasure of looking at an IRC 6751(b) opinion written by Judge Holmes.  For long time readers of this blog, the link between Judge Holmes and Graev consequences of not following the statutory language requiring approval of the immediate supervisor are well known.  His warning of Chai ghouls continues to

New Hampshire No Income Tax Proposal

TweetShareSharePin0 Shares On Thursday, New Hampshire lawmakers are scheduled to take up a budget conference report which contains several tax reforms negotiated by both chambers that would ultimately make New Hampshire the ninth state to impose no tax on individual income. These reforms floated at the beginning of the 2021 session found their way into

New portal for opting out of advance payments

TweetShareSharePin0 Shares The IRS has opened an online site to enable taxpayers to unenroll from receiving advance payments of the 2021 child tax credit (CTC). The new “Child Tax Credit Update Portal” allows parents to view their eligibility, view their expected CTC advance payments, and, if they wish to do so, unenroll from receiving advance
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