tax Archive
Incarcerated Individual Subject to Delinquency Penalties Even Though Attorney Embezzled Funds and Failed To File His Tax Returns
July 15, 2021
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TweetShareSharePin0 Shares We have often discussed the reach of the 1985 Supreme Court case United States v. Boyle. Section 6651(a)(1) and (2) impose delinquency penalties for failing to file a tax return or pay a tax unless the taxpayer can establish that the failure was due to reasonable cause and not willful neglect. Boyle essentially stands for
Budget Talks, Tax Collections, And A Billionaire’s Lawsuit
July 15, 2021
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TweetShareSharePin0 Shares Details slowly emerge on the Democrats’ budget plan. Senate Democratic leaders agreed to a $3.5 trillion top line for the budget that would carry a broad range of social programs. President Biden pitched the plan on Capitol Hill yesterday. Bernie Sanders helped draft it and centrist Joe Manchin says he’s willing to consider
Schumer’s Proposal to Deschedule and Tax Marijuana
July 14, 2021
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TweetShareSharePin0 Shares Today, Senate Majority Leader Chuck Schumer (D), Senate Finance Committee Chairman Ron Wyden (D), and Sen. Cory Booker (D) released their discussion draft—the Cannabis Administration and Opportunity Act—for federal descheduling of marijuana. While federal descheduling impacts all states, it does not deschedule marijuana in states which choose to keep their own ban. Nevertheless,
The Current State of Taxpayer Service (or Lack Thereof) at the IRS
July 14, 2021
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TweetShareSharePin0 Shares In my written testimony for a recent hearing before the Ways and Means Subcommittees on Select Revenue Measures and Oversight about the tax gap, I discussed some of the current state of taxpayer service at the Internal Revenue Service (IRS) and the many causes for refunds being delayed in the processing of tax
Paying for Partisanship? | Tax Policy Center
July 14, 2021
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TweetShareSharePin0 Shares Sen. Manchin on infrastructure: Everything should be paid for. The West Virginia Democrat told reporters that “we’ve put enough free money out.” He won’t publicly commit to a top line number for an “inevitable” Democratic-only bill to complement a traditional infrastructure-only measure but said he’d vote for something between $1 trillion and $2
IRS Taking Payments Beyond Ten Years of Assessment Still Timely
July 13, 2021
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TweetShareSharePin0 Shares Dean v US involves a motion to dismiss a taxpayer’s suit alleging that the IRS recklessly disregarded the law by continuing to levy on a taxpayer’s Social Security payments beyond the ten year SOL on collections. The magistrate concluded that the IRS’s actions were not improper and recommended that the case be dismissed. The
No New Digital Tax in Europe, For Now.
July 13, 2021
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TweetShareSharePin0 Shares EU will delay its digital tax. European Commission spokesman Daniel Ferrie told reporters that the European Union’s will delay its new digital levy at least until the fall. The EU had planned to impose it later this month but wants to clear a path for a global 15 percent corporate minimum tax. One
The Tax Justice Network July 2021 Spanish language podcast, Justicia ImPositiva: Nuevo impuesto corporativo: estrategia de los países en desarrollo #61
July 12, 2021
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TweetShareSharePin0 Shares Welcome to our Spanish language podcast and radio programme Justicia ImPositiva with Marcelo Justo and Marta Nuñez, free to download and broadcast on radio networks across Latin America and Spain. ¡Bienvenidos y bienvenidas a nuestro podcast y programa radiofónico! Escuche por su app de podcast favorita. En este programa: Semanas cruciales para el nuevo impuesto
Want To Know Why A Wealth Tax Won’t Work? Remember The Time Michael Jackson’s Estate Landed in Tax Court
July 12, 2021
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TweetShareSharePin0 Shares If you want to know why a wealth tax would be an administrative nightmare, take a look at the dispute over the estate of pop star Michael Jackson, which recently was resolved in federal tax court–12 years after his death and following eight years of litigation that made Jarndyce v. Jarndyce look like
How Tax Regulations Are Made
July 12, 2021
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TweetShareSharePin0 Shares Today’s post is by frequent guest poster Monte Jackel, Of Counsel at Leo Berwick. In today’s post, Monte discusses his reactions to an article written by Shu-Yi Oei of Boston College Law School and Leigh Osofsky of the University of North Carolina at Chapel Hill. A few years ago they wrote an insightful article on the process that led to
