tax Archive
A New Chief Judge of the Tax Court and the Loss of Judge Ruwe
February 28, 2022
No Comments
TweetShareSharePin0 Shares 0 Flares
Filament.io
Made with Flare More Info“>
0 Flares
×
The Tax Court has two recent news releases. New Chief Judge On February 25, it announced the election of Judge Kathleen Kerrigan as the newly elected Chief Judge who will begin her term on
Formulary Apportionment and the OECD Tax Deal
February 28, 2022
No Comments
TweetShareSharePin0 Shares One of the greatest challenges of lawmaking is recognizing when a beautiful theory must succumb to an ugly fact. The purity of conceptual policymaking must take the real world into account and acknowledge that things that work well “in theory” sometimes fail spectacularly to meet expectations “in practice.” It would be wonderful if
Honest Mistakes Happen, But a Two Million Dollar Difference in Mortgage Interest Will Likely Trigger An Accuracy-Related Penalty
February 28, 2022
No Comments
TweetShareSharePin0 Shares Busch v Commissioner, a small tax case issued as a bench opinion, involves a couple who claimed to have made an honest mistake on their self-prepared tax return. According to the Busches, when using their tax return prep software, the software did not allow them to enter cents when recording the mortgage interest
A “Rescue,” Refunds, And The Tax Gap
February 28, 2022
No Comments
TweetShareSharePin0 Shares Scott calls for “skin in the game,” but how much of whose skin? Source link TweetShareSharePin0 Shares
AICPA again asks IRS to delay K-2/K-3 reporting
February 25, 2022
No Comments
TweetShareSharePin0 Shares The AICPA and 52 state and area CPA societies submitted further comments and concerns to the IRS and Treasury on Friday urging a delay until next year of required reporting by partnerships and S corporations of items of international tax relevance on new Schedules K-2, Partners’ Distributive Share Items — International, and K-3,
The Taxpayer First Act’s Legacy: What Comes Next
February 25, 2022
No Comments
TweetShareSharePin0 Shares For the last few years, I’ve asked my students whether they’ve heard of the “Tax Cuts and Jobs Act” before. Many raise their hand. Because I’m insufferable, my first order of business is to tell them that there is really no such thing as the “Tax Cuts and Jobs Act” (or TCJA). What
Tax Justice Network Portuguese podcast: We are all uberized #34
February 24, 2022
No Comments
TweetShareSharePin0 Shares “When we work [formally] in a company, we know that there is agreed time for rest, holiday, health services, meal and other rights. While driving cars for app companies, I tried to set a goal to rest one day a week, but there was no way.” What Paulo Rogério Cândido is saying could
How Did We Get Here? 2-D Barcoding and the Paper Return Backlog – A Missed Opportunity
February 24, 2022
No Comments
TweetShareSharePin0 Shares In her February 17, 2022 testimony before the Senate Finance Committee, the National Taxpayer Advocate reported that as of February 5, 2022, the IRS had 23.5 million returns and correspondence in its inventory requiring manual processing. This number includes 17.6 million original and amended individual and business returns, down from the 35.5 million
Proposed regulations update RMDs for SECURE Act changes
February 23, 2022
No Comments
TweetShareSharePin0 Shares The IRS and Treasury released proposed regulations Wednesday (REG-105954-20) that would update existing rules for required minimum distributions (RMDs) from qualified retirement plans and annuity contracts and related matters, largely to conform with a number of statutory changes. The most prominent and recent of these changes were made by the Setting Every Community
How Did We Get Here? A New Series …
February 23, 2022
No Comments
TweetShareSharePin0 Shares These days, the news has been filled with stories about the disastrous state of the IRS this filing season and how this is attributable, in part if not in entirety, to underfunding of the IRS over the last decade. Now, I agree the IRS needs more funding to accomplish its dual mission of
