tax Archive
IRS Did Not Appeal This Tax Court Decision. They Just Ignored It.
September 17, 2021
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TweetShareSharePin0 Shares We welcome back commenter in chief Bob Kamman writing today about his experience in a Tax Court case. One of the benefits of going to Tax Court is getting an attorney from Chief Counsel’s Office assigned to the case. While not everyone will have a perfect encounter with the attorneys from Chief Counsel’s

House Democrats Pass-Through Business Tax
September 17, 2021
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TweetShareSharePin0 Shares Under the House Democrats’ reconciliation plan, the top tax rate on pass-through business income would exceed 50 percent in most states. Pass-through businesses, such as sole proprietorships, S corporations, and partnerships, make up a majority of businesses and majority of private sector employment in the United States. The owners of these firms pay individual income tax on income derived

House Democrats Tax Plan Would Impact U.S. Competitiveness
September 17, 2021
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TweetShareSharePin0 Shares The International Tax Competitiveness Index has been used to compare the tax systems of OECD countries since 2014. At that time, the United States ranked 28th out of 36 countries in the Index. Following the 2017 tax reform, the rank improved dramatically, to 20th, and the U.S. now ranks 21st. The legislation put
TIGTA Report Highlights Major Compliance Issues When Businesses Fail to Pay Salaries to Sole Shareholder S Corporations
September 16, 2021
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We mostly stick to procedure on this blog. So we do not often talk about the taxation of entities. But most of us, even true procedure folks know that S corporations generally do not

U.S. Would Have Third-Highest Corporate Tax Rate in OECD Under Ways and Means Plan
September 15, 2021
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TweetShareSharePin0 Shares The reconciliation legislation introduced by Democrats on the House Ways and Means committee would increase the top federal corporate tax rate from 21 to 26.5 percent. However, most companies would face a higher tax rate than 26.5 percent, given that most states also levy a corporate income tax. In the initial Biden administration

Corporations in Most States Would Face Income Tax Rate Exceeding 30 Percent Under Ways and Means Proposal
September 15, 2021
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TweetShareSharePin0 Shares A centerpiece of House Democrats’ reconciliation proposal is an increase in the corporate tax rate, from 21 percent to 26.5 percent. The corporate income tax is among the most economically harmful ways to raise revenue. Higher corporate taxes reduce output, productivity, and wages in the long run, while making the United States less

Effective Income Tax Rates Have Fallen for The Top One Percent Since World War II
September 15, 2021
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TweetShareSharePin0 Shares While average effective tax rates barely changed in the US from 1945 to 2015, the average tax rates of high-income households fell sharply—from about 50 percent to 25 percent for the highest income 0.01 percent and from about 40 percent to about 25 percent for the top 1 percent. Our measure of effective
10th Circuit Affirms That Nursing Homes and Other Entities Lack Protection from Levy for Hardship
September 15, 2021
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TweetShareSharePin0 Shares In 2017, the Tax Court issued rulings in several cases regarding the application of IRC 6343(a)(1) to entities. The lead case was Lindsay Manor Nursing Home, Inc. v. Commissioner, 148 T.C. No. 9 (2017). I blogged about the group of cases here in a post with a catchy tag line about rolling the
EU To Table A Digital Tax Proposal In October
September 15, 2021
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TweetShareSharePin0 Shares by Ulrika Lomas, Tax-News.com, Brussels 15 September 2021 The European Commission has committed to tabling a proposal for a digital tax in October, whether or not an international agreement surfaces from OECD-led talks on new international tax rules for the world’s largest firms. The pledge was made after members of the European Parliament

The Tax Justice Network September 2021 Spanish language podcast, Justicia ImPositiva: Los litigios entre multinacionales y los estados, tráfico de drogas, litio #63
September 14, 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: ¿Habrá nuevas reglas impositivas para las grandes