tax Archive

The human right to care and tax justice
December 10, 2021
No Comments
TweetShareSharePin0 Shares On International Human Rights Day today, we the support and highlight the call for the human right to care and the pivotal role of tax justice in realising this right. The Covid-19 pandemic, the climate crisis, debt burden and the fiscal austerity of recent decades have brought untold burdens and hardships on those

Arkansas Tax Cuts: Arkansas Tax Reform
December 9, 2021
No Comments
TweetShareSharePin0 Shares Faced not only with immediate surpluses but with the expectation of sustained revenue growth in coming years, Arkansas policymakers have chosen to return some of the additional revenue to taxpayers in the form of individual and corporate income tax rate reductions, with additional rate cuts if future revenues permit. Whenever a state has

Biden Minimum Tax vs Biden Corporate Tax Rate Increase
December 9, 2021
No Comments
TweetShareSharePin0 Shares As the Senate considers which components of the House Build Back Better Act (BBBA) to include, one key difference between the original Ways and Means draft and the later Rules Committee version is on corporate taxes. The original draft would have raised the corporate tax rate to 26.5 percent, while the Rules Committee
Was Your Tax Court Petition Due December 7, 2021? Maybe it’s now due December 21!
December 9, 2021
No Comments
TweetShareSharePin0 Shares We welcome back Guest Blogger Charles Markham who last posted on an issue I discussed earlier this week. Charles practices in the Boston area and has been a volunteer with the Harvard tax clinic over the years. He is both an Enrolled Agent and a United States Tax Court Practitioner based on having

Corporate Tax Rates by Country | Corporate Tax Trends
December 9, 2021
No Comments
TweetShareSharePin0 Shares Key Findings In 2021, 20 countries made changes to their statutory corporate income tax rates. Three countries—Bangladesh, Argentina, and Gibraltar—increased their top corporate tax rates, while 17 countries—including Chile, Tunisia, and France—reduced their corporate tax rates. Comoros (50 percent), Puerto Rico (37.5 percent), and Suriname (36 percent) are the jurisdictions with the highest corporate

Traveling for the Holidays? State Tax Liability Implications
December 8, 2021
No Comments
TweetShareSharePin0 Shares There’s no place like home for the holidays, ’cause no matter how far away you roam, state tax collectors will be waiting. It’s not that state tax authorities are a bevy of Ebenezer Scrooges keeping a wary eye on travelers during the holiday season, of course. No, they do this all the time.

Congress Should Make A Long-Term Commitment to The Child Tax Credit
December 8, 2021
No Comments
TweetShareSharePin0 Shares Two versions of the Child Tax Credit (CTC) are on the books for the next five years, and a third is included in the House Build Back Better (BBB) plan now awaiting Senate action. The long-term future of the CTC is anyone’s guess, however. Congress should address this uncertainty by making the CTC
Taxpayers Wanting an Equivalent, Rather Than CDP, Hearing Must Be Patient
December 8, 2021
No Comments
TweetShareSharePin0 Shares In Ruhaak v. Commissioner, 157 T.C. No. 9 (2021), the Tax Court, in a precedential opinion, made it clear that a taxpayer must wait until the time to file a CDP hearing has expired if they want to have an equivalent hearing to talk about their collection matters. We have previously blogged, here,
Statutes of Limitations and the Substitute for Return Procedures
December 7, 2021
No Comments
TweetShareSharePin0 Shares We have written quite a few blog posts on the substitute for return (SFR) process but not one specifically addressing the statute of limitations regarding the returns prepared using this process. Guest blogger Michelle Drumbl wrote about the procedures involved in preparing these returns. Guest blogger Jeffrey Sklarz wrote a post on the
Rushing To Reconcile | Tax Policy Center
December 7, 2021
No Comments
TweetShareSharePin0 Shares Will the Senate pass Build Back Better before ringing in the New Year? Majority Leader Chuck Schumer says there will “more long days and nights, and potentially weekends,” if the Senate is to finish its legislative agenda by the end of the year. Avoiding a Byrd bath? Democrats are trying to convince the