tax Archive

TweetShareSharePin0 Shares Key Findings Policymakers should carefully analyze tax expenditures before categorizing one as a loophole—some tax expenditures are important structural elements of the tax code while others are unsound. Generally, if a provision is broadly available and helps to eliminate the double taxation of saving, or broadly contributes to a consumption tax base, it

TweetShareSharePin0 Shares News FOREIGN INCOME & TAXPAYERS By Paul Bonner The IRS published final regulations (T.D. 9956) Wednesday addressing the treatment of qualified improvement property (QIP) for purposes of calculating qualified business asset investment (QBAI) for QIP under the alternative depreciation system (ADS) under Secs. 250 and 951A — respectively, the foreign-derived intangible income

TweetShareSharePin0 Shares Jeopardy assessments are relatively unusual and have not been heavily covered on PT, with the exception of the District Court and Tax Court cases of former Pennsylvania state Senator Vincent J. Fumo. I first wrote about the government’s attempted jeopardy assessment against Mr. Fumo early in the life of this blog, here and

TweetShareSharePin0 Shares The ABA Section of Taxation kicked off its Fall Meeting virtually yesterday, with a plenary address by Thomas A. Barthold, Chief of Staff, Joint Committee on Taxation, followed by CLE programs from the Corporate Tax, Employee Benefits, State & Local Tax, and Transfer Pricing committees. A full week of programming follows, starting at

TweetShareSharePin0 Shares Note: Below is an excerpt of the 2021 Spanish Regional Tax Competitiveness Index (RTCI), a recent report published in collaboration with Fundación para el Avance de la Libertad. The RTCI for Spain is designed to analyze how well regions structure their tax systems, allows policymakers, businesses, and taxpayers to evaluate and measure how their regions’ tax

TweetShareSharePin0 Shares Much has been written about the House Democrats’ proposal to increase tobacco and nicotine products taxes over the last week. The proposal, which would double the tax on cigarettes while taxing every other tobacco and nicotine product at comparable rates, would have significant implications on the availability of non-cigarette tobacco products. And the

TweetShareSharePin0 Shares As Congress considers several tax proposals designed to raise taxes on high-income earners, it’s worth considering the distribution of the existing tax code. While the image that rich Americans pay little taxes is popular, it’s a misconception: high-income individuals already pay a large share of taxes, even when compared to their share of