It’s Fix the Tax Code Friday! This week, there has been a lot of discussion across the internet about “going Dutch” a la the pay-per-kilometer system recently passed in Amsterdam.
So today’s Fix the Tax Code Friday question is:
Should the US consider a pay-per-mile tax system to pay for roads and other infrastructures?
If your answer is no, would that change if the US adopted the Dutch policy of abolishing the current road taxes and sales taxes for cars in exchange for the pay-per-mile system?
IRS Commish Doug Shulman has not been shy about talking about targeted enforcement. Targeted enforcement – the idea of cherry picking certain target groups to investigate or examine – is nothing new: it’s happened for years. In fact, as a young lawyer, I remember FLPs (Family Limited Partnerships) being called out under the Clinton Administration. But the IRS hasn’t been all that eager to talk about it. Until now.
Shulman has been very open about the fact that it’s happening and very happy to say what’s being targeted. Right now, the IRS seems to be circling the tank around three main areas:
- Offshore accounts
- Pass through entities (esp s corporations and LLCs)
- High wage earners
Areas of targeted enforcement vary depending on what’s happening in the world, who’s in the White House and how many resources are available. Previous efforts have included self-employeds with Schedule C and Family Limited Partnerships.
So today’s Fix the Tax Code Friday question is two-fold:
Do you think targeted enforcement makes sense? And if does, it is fair?
It’s Fix the Tax Code Friday!
Buoyed by the popularity of the Cash for Clunkers program – and the perceived success of the First Time Homebuyer’s Credit – Congress is considering whether to extend both programs in 2010.
Various bills suggest extending the homebuyer’s credit from six months to a year – and even increasing the amount of the credit to $15,000. And as China, France and Germany each consider extending their version of the Cash for Clunkers programs, some members of Congress are thought to be eying a second version of the plan.
So today’s Fix the Tax Code Friday question is:
Should Congress extend the first time homebuyer’s credit or re-introduce the Cash for Clunkers program? Both? Neither? Speak up, I can’t hear you!
The IRS crackdown on foreign accounts has been generating a lot of discussion in the blogosphere. Some folks argue that it’s a waste of resources, others argue that it’s been a long time coming.
Today’s Fix the Tax Code Friday question is:
Is the targeting of offshore accounts a fair use of IRS resources? Or should the IRS focus more on collections and reporting inside the US?
