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Fiscal Session Finishes Strong with Tax Reform

TweetShareSharePin0 Shares It took until the last day of the session, but Louisiana lawmakers succeeded in passing a tax reform package Thursday that would simplify a complicated tax code and make the state more economically competitive. Because these measures are reliant on constitutional amendments, voters will ultimately decide the success of the plan in October.

Bouncing Documents at the Tax Court

TweetShareSharePin0 Shares I wrote about documents bouncing back from the Tax Court last month in connection with the Tax Court policing the timely filing of petitions.  The post caused commenter in chief Bob Kamman to pay careful attention to the orders coming out of the Tax Court and he noticed a particularly bad day for

Mind the Growing Tax Gap

TweetShareSharePin0 Shares Treasury: Tax gap could grow to $7 trillion over ten years. Treasury estimates that the difference between how much Americans owe in taxes and how much they pay will grow to $7 trillion over the next decade. Deputy Assistant Secretary Mark Mazur says a  growing gap results in higher tax rates, and urged

Regs. on postponing tax deadlines due to federally declared disasters

TweetShareSharePin0 Shares In new final regulations (T.D. 9950), Treasury and the IRS have attempted to resolve ambiguities about when a federally declared disaster will lead to a mandatory 60-day postponement of certain time-sensitive tax-related deadlines. The final regulations adopt, with some changes, proposed regulations issued in January (REG-115057-20). The mandatory postponement provision, Sec. 7508A(d), was

Technology and Taxpayer Rights

TweetShareSharePin0 Shares This post includes information about the IRS’s plans to use AI to assist taxpayers. For more insight on the legal risks tax administrations face from using AI-enabled systems, including risks to taxpayer rights, there is a Zoom lecture hosted by Antwerp and VIA Universities, HMRC, the Prosperity Collaborative, and the Center for Taxpayer

More On The Implications of CIC Services

TweetShareSharePin0 Shares We are starting to see some fallout from last month’s CIC Services opinion. For example, Tax Notes’ Kristen Parillo discusses[$] Hancock Land Acquisitions v US , another microcaptive case. Parillo’s article explores the parties’ post CIC Services supplemental filings in a case where the taxpayer brought an action alleging that the IRS’s failure to refer its case

US IRS Flags Deadline For Q2 Estimated Tax Payments

TweetShareSharePin0 Shares by Mike Godfrey, Tax-News.com, Washington 09 June 2021 The US Internal Revenue Service has issued a reminder to taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without incurring a penalty. Estimated tax is the method
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