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tax Archive

Making Additional Work for Yourself and Others

TweetShareSharePin0 Shares The way the IRS is processing paper returns filed in 2021 is adding significant complexity, cost and time for itself and for taxpayers. This post highlights the problems created for the clients of one preparer, which provide a lesson for everyone trying to get a paper return processed.  In each of the cases

Improving Tax Mobility and Tax Modernization

TweetShareSharePin0 Shares Key Findings The post-pandemic economy will be characterized by greater mobility and new ways of living and doing business. States must take this opportunity to modernize their tax codes to reflect economic changes and to improve their competitive posture. Because the reality is that businesses that find their upward mobility constrained have more

Should the Child Tax Credit Be Limited to Those with Lower Incomes, As Manchin Prefers?

TweetShareSharePin0 Shares In 2021, the Child Tax Credit (CTC), helped nearly all families with children. But this year, because American Rescue Plan (ARP) expansions have lapsed, it is concentrating benefits on middle-income families. High- and low-income parents are receiving more limited assistance. And, as Democrats try to find a path forward for their stalled Build

Should the Child Tax Credit Be Limited to Those with Lower Incomes, As Manchin Prefers?

TweetShareSharePin0 Shares In 2021, the Child Tax Credit (CTC), helped nearly all families with children. But this year, because American Rescue Plan (ARP) expansions have lapsed, it is concentrating benefits on middle-income families. High- and low-income parents are receiving more limited assistance. And, as Democrats try to find a path forward for their stalled Build

Diving Beneath the Surface of In re Webb

TweetShareSharePin0 Shares We welcome back Ken Weil to help us parse a technical bankruptcy issue impacting taxes.  Ken has his own practice in Seattle that focuses on representing individuals with tax debt and resolving that debt through administrative action with the IRS or through bankruptcy. He has written a book on his specialty area, Weil,

Questions About Reviving The Expanded Child Tax Credit

TweetShareSharePin0 Shares What will become of the expanded CTC? The more generous, monthly Child Tax Credit payments expired in December after Congress failed to agree on a Build Back Better bill to continue the expanded program. BBB foundered in part because Sen. Joe Manchin opposed a simple extension of the CTC. Now, Manchin says he’s

Eleventh Circuit Finds Regulation Invalid Under the APA

TweetShareSharePin0 Shares One of the most significant tax cases of 2020 was Oakbrook Land Holdings, a case involving a challenge to regulations in a conservation easement deduction dispute. In Oakbrook, the Tax Court held that the regulation was properly promulgated under the Administrative Procedure Act. In today’s guest post Monte Jackel of Leo Berwick discusses

Back to Business on the BBB; Tax Relief in States and Abroad

TweetShareSharePin0 Shares Congress returns this week to try again with the Build Back Better (BBB) Act. Preliminary estimates from the Joint Committee on Taxation indicate the Senate Democrats’ draft  $886 billion tax package would generate about $60 billion less in net revenue than the House version. The panel added exemptions for employer pension plans and

The Top Ten Procedurally Taxing Posts of 2021

TweetShareSharePin0 Shares Comment Policy: While we all have years of experience as practitioners and attorneys, and while Keith and Les have taught for many years, we think our work is better when we generate input from others. That is one of the reasons we solicit guest posts (and also because of the time it takes
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