tax Archive

TweetShareSharePin0 Shares How do taxes in your state compare regionally and nationally? Facts and Figures, a resource we’ve provided to U.S. taxpayers and legislators since 1941, serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more. For visualizations and further analysis of 2022 state tax

TweetShareSharePin0 Shares On February 21, 2022, I wrote a post because of the FOIA case involving EPIC v. IRS, 128 AFTR 2d 2021-6808 (DDC 2021).  My description of the EPIC case was accurate and my conclusion on how to get information about offers in compromise from the IRS was accurate – use FOIA; however, my

TweetShareSharePin0 Shares President Joe Biden’s administration released its $6 trillion budget Monday for the federal government’s 2023 fiscal year, which begins October 2022. Also on Monday, Treasury released its general explanations of the budget’s revenue proposals, known as the Greenbook. Revenue provisions in the proposed budget prominently include what an administration fact sheet calls a

TweetShareSharePin0 Shares IRS examinations of partnerships under the procedures of the Bipartisan Budget Act (BBA) of 2015, P.L. 114-74, more often ended with no additional tax liability proposed than for all partnership audits of returns for the same tax years, the Treasury Inspector General for Tax Administration (TIGTA) reported in an audit (Rep’t No. 2022-30-020).

TweetShareSharePin0 Shares In the first year of this blog, I wrote a post on the case of Anderson v. Commissioner, 2013-261, questioning why the Settlement Officer (SO) in Appeals did not reject a taxpayer’s offer by citing public policy grounds.  In that case the Tax Court remanded a Collection Due Process (CDP) determination because the

TweetShareSharePin0 Shares President Biden’s budget includes a 20 percent minimum tax on the wealthy. Under his plan due to be released today, households with a net worth exceeding $100 million would face a 20 minimum tax on income, including unrealized capital gains. Individuals who already pay an effective income tax rate of 20 percent would

TweetShareSharePin0 Shares The IRS released proposed regulations Friday (REG-121508-18) providing an exception from the “unified plan rule” for multiple-employer plans when one or more participating employers in the plan fail to take required actions. The regulations also would update a number of other provisions to reflect changes since the IRS last issued final regulations for