tax Archive

IRS Audits Of Black Tax Filers, New REIT Rules
February 1, 2023
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TweetShareSharePin0 Shares Stanford study: The IRS audits Black taxpayers at a higher rate than others. It finds Black taxpayers are audited 2.9 to 4.7 times more than non-Black taxpayers, perhaps because of the computer algorithms the IRS uses for audit selection. The largest disparity between the groups was among those claiming the Earned Income Tax

The Making of Tax Haven Mauritius: the Tax Justice Network podcast, the Taxcast
February 1, 2023
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TweetShareSharePin0 Shares Welcome to the latest episode of the Tax Justice Network’s monthly podcast, the Taxcast. You can subscribe either by emailing naomi [at] taxjustice.net or find us on your podcast app. All our podcasts are unique productions in five languages: English, Spanish, Arabic, French, Portuguese. They’re all available here. In this extended special episode of the Taxcast, we look at the ‘Desai Papers’
Racial Disparities in IRS Audits
January 31, 2023
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Following up on Les’ post yesterday about the upcoming symposium on race and taxes, I want to draw our readers attention to an important study released yesterday, on the racial impact of Internal Revenue

Trump Used Records Request In Attempt to Stall IRS Tax Release
January 31, 2023
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TweetShareSharePin0 Shares Former President Donald Trump used a records release request in a bid to stall the IRS’s release of his tax documents, a new report finds. The report, from finance giant Bloomberg, indicates that Trump “demanded reams of information from the Internal Revenue Service as it was preparing to turn over his personal tax
Next Month’s Symposium Highlighting Relationship Between Tax and Race
January 30, 2023
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TweetShareSharePin0 Shares I am writing to share information about an upcoming Symposium to be held on February 24, 2023 in Washington, D.C. on “The Federal Income Tax: Racially Blind But Not Racially Neutral.” The symposium is free and open to the public. There are in-person and Zoom attendance options, with pre-registration here and a flyer with

VA House Approves Tax Cuts Benefitting Small Businesses
January 30, 2023
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TweetShareSharePin0 Shares In December, Virginia Governor Glenn Youngkin (R) proposed multiple tax breaks for businesses in The Old Dominion State. Among these was a first-of-its-kind small business tax break that is designed to give entrepreneurs throughout the state immediate financial relief in the form of a 10% deduction for business income. At the time, Delegate
Getting Refunds in Collection Proceedings: Why CDP Matters
January 27, 2023
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TweetShareSharePin0 Shares In my last two posts (see here and here) I have tried to put into perspective how a taxpayer is and isn’t constrained by the Tax Court’s lack of “refund” jurisdiction in CDP cases. In my posts I have tried to explain that the Tax Court may (1) functionally determine an “overpayment,” so

Tax Cheats, Dodgers, Avoiders, And Evaders
January 27, 2023
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TweetShareSharePin0 Shares The news is filled with stories about conflicts between taxpayers and tax collectors. Just a few weeks ago a New York jury convicted the Trump Organization of criminal fraud for a 15-year scheme to help top executives dodge taxes. While that case is a linguistic no-brainer, we often struggle to properly describe those

Congress at Odds Over Fair Tax Act, Abolishing Tax Code
January 27, 2023
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TweetShareSharePin0 Shares Most Americans would say that the current United States tax code is far from perfect and needs a number of reforms. To this end, new proposed Congressional legislation would abolish the existing code. The Fair Tax Act, proposed by Representative Earl L. “Buddy” Carter (R-GA) would ban income, payroll, estate, and gift taxes, instead opting for a

A Complete Guide to Arizona's Grocery Tax Bill
January 27, 2023
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TweetShareSharePin0 Shares Arizona House Bill 2061 (HB 2061) seeks to amend the state's existing grocery tax regulations. As an Arizona resident, you probabl Source link TweetShareSharePin0 Shares