tax Archive

Letter to IRS from AICPA

TweetShareSharePin0 Shares The American Institute of Certified Public Accountants (AICPA) wrote a letter to Commissioner Rettig and Assistant Secretary for Tax Policy Lily Batchelder on July 11, 2022, making several requests related to the difficulties at the IRS resulting from the pandemic which has translated into difficulties for taxpayers and their representatives.  The letter makes

Charity Care and Tax Cut Promises

TweetShareSharePin0 Shares How much charity care do nonprofit hospitals provide? A Wall Street Journal analysis (paywall) finds that nonprofit hospitals, registered as charitable organizations because they are charted to support their communities, wrote off 2.3 percent of their patient revenue as “charity care.” But their for-profit competitors wrote off 3.4 percent. The analysis excludes other

Essential Tax Tips For Retired Teachers

TweetShareSharePin0 Shares With a new school year just around the corner across the United States, some teachers won’t be returning to the classroom this year.  According to EdSource, nearly 13,000 teachers retired after the 2019-2020 school year, and projections indicate that even more educators will retire annually moving forward. Per the education website’s report, the

OECD Pillar One: Questions Remain | Global Tax Deal

TweetShareSharePin0 Shares The global tax deal that was struck last year continues to move along in slow and uncertain ways. While the global minimum tax gets much attention in the media (and in my own writings, to be honest), there is another significant piece to the deal. The global minimum tax (also known as OECD Pillar

Contract Law and Rejecting Offers in Compromise

TweetShareSharePin0 Shares I apparently cannot stop writing about Offers and “deemed acceptance” under IRC § 7122(f). This is because I think it represents fertile ground for practitioners to help their clients, a way to hold the IRS accountable for getting things done in some semblance of a timely manner, and fix (or invalidate) an indefensible

Unique Tips to Find a Competent Local Tax Preparer

TweetShareSharePin0 Shares On November 13th, 1789, Benjamin Franklin wrote a letter to Jean-Baptiste Leroy, in which he said, “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” The notion of death and taxes being the only

Apple Settles Lawsuit Against Chicago For “Netflix Tax”

TweetShareSharePin0 Shares Iconic tech company, Apple, has settled its lawsuit against the city of Chicago regarding the local government’s “Netflix tax.” Apple, founded by Steve Jobs and Steve Wozniack on April 1, 1976, has become famous for its wide array of sleek, user-friendly tech products.  The business was put on the map with Macintosh computers

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