EU Digital Tax & Global Tax Deal | EU Digital Levy
TweetShareSharePin0 Shares At a recent G20 meeting of finance chiefs, French Finance Minister Bruno Le Maire declared that the chances of Pillar One succeeding are “slim” and therefore “a digital tax should be extended to the European level as soon as possible.” This analysis of Pillar One’s status is not surprising, and Le Maire’s reaction
Tax Court Denies Attorney’s Racing Car Costs Claimed To Be Advertising Expenses For Legal Practice
TweetShareSharePin0 Shares This one is not so much a procedure case but its facts jumped out at me and is worthy of a blog. In Avery v Commissioner, the Tax Court sustained the IRS’s denial of over $300,000 of a lawyer’s claimed advertising expenses that the taxpayer allegedly incurred during 2008–2013. This is a
Medicare Tax Increases, Rate Hikes, And A Confirmation Soon?
TweetShareSharePin0 Shares As Biden said, he’d raise taxes on the wealthy. President Biden shared yesterday that to avert a Medicare funding crisis, his proposed 2024 budget includes an increase to the net investment income tax from 3.8 percent to 5 percent for all Americans earning more than $400,000 a year. The tax would apply to
Why is tax justice an integral part of the struggle for women’s rights?
TweetShareSharePin0 Shares We’re pleased to share this blog, originally posted by Global Alliance for Tax Justice (GATJ) as part of the 7th edition of the Global Days of Action on Tax Justice for Women’s Rights. As the world commemorates this International Women’s Day, the Global Alliance for Tax Justice (GATJ) stands in solidarity with women’s rights organisations,
VIDEO: Tax Blacklists and Propaganda: Defeating the Discrimination and Pro-Poverty Agenda
TweetShareSharePin0 Shares We’re sharing this excellent live discussion between Caribbean Economist and Advisor Marla Dukharan, Alex Cobham, Economist and Chief Executive of the Tax Justice Network, and Professor Steven Dean, Professor of Law at Brooklyn Law School, “to find out the truth about the world’s biggest financial secrecy jurisdictions, the racial bias behind the tax
Expanding Affordable Housing: Tax Policy’s Role
TweetShareSharePin0 Shares Note: The following is the testimony of Garrett Watson, Senior Policy Analyst and Modeling Manager at the Tax Foundation, prepared for U.S. Senate Committee on Finance hearing on March 7, 2023, titled, “Tax Policy’s Role in Increasing Affordable Housing Supply for Working Families.” Reforming the Low-Income Housing Tax Credit and Improving Cost Recovery
Oral Argument in Culp v. Commissioner
TweetShareSharePin0 Shares 0 Flares Filament.io Made with Flare More Info“> 0 Flares × Guest blogger Anna Gooch brings us this alert. The oral argument in Culp v. Commissioner before the Third Circuit Court of Appeals will be part of today’s oral argument calendar beginning at 9:00 AM
Does Your State Have a Gross Receipts Tax?
TweetShareSharePin0 Shares Today’s map looks at which states levy a gross receipts tax, which is often considered one of the most economically damaging taxes. Shifting from state gross receipts taxes would represent a pro-growth change to make tax codes friendlier to businesses and consumers alike, which is especially necessary in an increasingly mobile economy. Gross receipts taxes are applied
February 2023 Digest
March 6, 2023 No Comments
TweetShareSharePin0 Shares The filing season is in full swing, and we finally have some guidance from the IRS about the treatment of state relief payments. The Tax Section Midyear Meeting happened earlier this month in beautiful San Diego and PT posted about some of the information and updates shared there. There has been some traction
New Counsel, More Tax Cuts
March 6, 2023 No Comments
TweetShareSharePin0 Shares IRS seeks new chief counsel. IRS Associate Chief Counsel (corporate) Robert Wellen will retire from the IRS effective March 31. A search is underway for his replacement, according to the agency (paywall). The IRS is also awiting a permanent commissioner and chief counsel while it develops a plan for how it will use