tax Archive
Business Tax Reform Critical to Economic Recovery Set to Expire Soon
May 2, 2022
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TweetShareSharePin0 Shares At a moment when we are seeing clear weaknesses in supply chains and needs for gearing production toward more environmentally friendly approaches, capital investment is critical. Policymakers have an opportunity to change a coming decline in investment incentives by adopting permanent policies to support growth. Expiring tax policies in major economies could create
April 2022 Digest
May 2, 2022
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TweetShareSharePin0 Shares It’s no surprise that the Supreme Court decision in Boechler was the highlight of PT posts in April. PT has been covering and standing steadfast behind the argument for many, many years and the case is a huge win for taxpayers, taxpayer representatives, and everyone who has helped inch this argument along. Supreme
Improving the Charitable Deduction and Free File, Trashing EV Tax Credits
May 2, 2022
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TweetShareSharePin0 Shares Reforming the charitable deduction. TPC’s Gene Steuerle recommends ways to reform the charitable deduction. His primary suggestion: Congress should take into account cost-effectiveness. “That means putting gains for charitable beneficiaries—not taxpayers or even the charities themselves—as the major objective. Manchin: EV tax credit is “ludicrous.” Sen. Joe Manchin, who in the past has
Inflation boosts HSA amounts for 2023
April 29, 2022
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TweetShareSharePin0 Shares The maximum contribution to a health savings account and certain related benchmarks will be sharply higher next year, reflecting inflation-linked adjustments. The IRS announced the updated amounts Friday in Rev. Proc. 2022-24, as it does each year under Sec. 223(g). The revenue procedure also includes the revised maximum amount that may be made
The IRS Argues That Equitable Tolling Would Not Apply in Deficiency Cases
April 29, 2022
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TweetShareSharePin0 Shares As discussed in the prior three posts of this series, the Supreme Court decision in Boechler clearly rejected the Tax Court’s position set out in the portion of its opinion in Guralnik v. Commissioner, 146 T.C. 230 (2016) that held the time period for filing a petition in the Tax Court in a
Schedules K-2 and K-3 e-file capability postponed for S corporations
April 28, 2022
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TweetShareSharePin0 Shares The IRS has delayed by more than a month the rollout of an electronic filing protocol for Schedules K-2, Shareholders’ Pro Rata Share Items — International, and K-3, Shareholder’s Share of Income, Deductions, Credits, etc. — International, filed by S corporations. The Service revised the date in an update Wednesday to a frequently
Congress Can More Modestly Expand The Child Tax Credit And Still Help Very Low-Income Families
April 28, 2022
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TweetShareSharePin0 Shares As President Biden and congressional Democrats make another push to reach a compromise on a social spending, climate change, and tax bill, a key issue is what they’ll do with the Child Tax Credit (CTC). The Tax Policy Center analyzed five options that show how lawmakers could partially restore the expanded 2021 version
A Beneficial Effect of Inflation
April 28, 2022
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The IRS increased the Collection Financial Standards on April 25, 2022. The increases reflect that we have entered a period of inflation, as the amounts have not increased by this much in a very
Tax Justice Network Portuguese podcast: Como se livrar da maldição do petróleo? #36
April 28, 2022
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TweetShareSharePin0 Shares Welcome to our monthly podcast in Portuguese, É da sua conta (it’s your business) produced by Grazielle David, Daniela Stefano and Luciano Máximo. All our podcasts are unique productions in five different languages – English, Spanish, Arabic, French, Portuguese. They’re all available here. Here’s the latest episode: Sobe o preço do barril de petróleo, sobem os custos de produção e os preços de quase tudo
NonDoms unmasked: the Tax Justice Network podcast
April 28, 2022
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TweetShareSharePin0 Shares Welcome to the latest episode of the Tax Justice Network’s monthly podcast, the Taxcast. You can subscribe either by emailing naomi [at] taxjustice.net or find us on your podcast app. In this Taxcast episode we ask – do politicians believe in the societies they serve or not? Are they really a part of them, or do
