taxgirl » fix the tax code friday

Fix the Tax Code Friday: Pay Per Mile Tax

Kelly — Fri, 20 Nov 2009 22:04:57 +0000

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?Similar Posts:

Fix the Tax Code Friday: Targeted Enforcement

Kelly — Fri, 13 Nov 2009 15:30:08 +0000

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?Similar Posts:

Fix the Tax Code Friday: Extending Tax Programs

Kelly — Fri, 18 Sep 2009 19:30:04 +0000

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!Similar Posts:

Fix the Tax Code Friday: Foreign Accounts

Kelly — Fri, 21 Aug 2009 18:12:32 +0000

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?Similar Posts:

Fix the Tax Code Friday: A Year From Now

Kelly — Sat, 15 Aug 2009 00:53:03 +0000

It’s Fix the Tax Code Friday!

Over at Only3Years, Iz contemplated the question of where she might be a year from now. The more I thought about this, the more I thought that it would make a superb Fix the Tax Code Friday…

I’m constantly asked what I think will happen with respect to a number of tax items such the AMT, the federal estate tax and most recently, tax rates for those making more than $250,000. These are great topics to speculate on – especially with a significant election year looming.

So this week’s Fix the Tax Code Friday question is:

What changes – if any – do you expect to see made to the Tax Code by this time next August? Federal estate tax repeal? Health reform surtax? VAT or national sales tax? Tax cuts or tax increases?

I promise no “I told you sos” come next year. (Umm, well depending on who you are… I reserve the right to beat up on my fellow tax pros. It’s like our own Fantasy League.)

But I’m dying to know what you think… Go ahead, chime in!
Similar Posts:

Fix the Tax Code Friday: Best for Who?

Kelly — Fri, 31 Jul 2009 19:44:17 +0000

This week, there’s been a considerable focus on a number of proposed “sin taxes” including those on soda, cosmetic surgery and plastic bags. In theory, sin taxes are meant to prevent certain kinds of behavior – whether or not they accomplish it is a whole other story.

I realize that nobody wants to pay extra taxes. So, putting aside for a moment the question of whether you want to pay extra taxes, let’s focus on policy. Assuming that we’re going to continue to have sin taxes (which is a pretty good assumption), think for a moment about the policy behind the taxes. With that in mind, today’s Fix the Tax Code Friday question is:

When it comes to sin taxes, is it more fair to tax behaviors that affect only yourself (like cosmetic surgery) or behaviors that affect others (like using plastic bags)?Similar Posts:

Fix the Tax Code Friday: Cuts Versus Tax Increases

Kelly — Fri, 17 Jul 2009 18:08:41 +0000

This week, both the feds and states have been struggling with the idea of balancing the budget by making cuts or increasing taxes. Today’s Fix the Tax Code Friday question is:

If you had to choose, would you rather see tax increases or spending cuts? If “spending cuts” is your answer, are there any cuts that are completely off the table (i.e. health care, education, transit, military, terrorism protection)?Similar Posts:

Fix the Tax Code Friday: Bailing Out the Government

Fix the Tax Code Friday: When Should Private Become Public?

Kelly — Sat, 11 Jul 2009 02:42:05 +0000

It’s Fix the Tax Code Friday! News reports continue to focus on the death of Michael Jackson, his memorial and his funeral. Enormous amounts of public resources have been dedicated to policing the memorial service, keeping Jackson’s family away from the press and investigating Jackson’s “alleged” drug use. Comparisons have been drawn to other public figures – and professional sports teams – who have relied on public dollars to police and protect them after championships and other notable moments in their lives. In some instances, such as the Lakers parade, funding is donated by the celebs in question or by fans. In others, funding has come out of the city’s general fund.

So today’s Fix the Tax Code Friday question is:

Should taxpayers bear the cost of protecting and policing private citizens (including sports teams) who require or merit (depending on your point of view) extra attention? Is there a threshold for who should be allowed extra policing for “free” – such as national champs – or should the super rich pay their own way? Or all private citizens equal when it comes to tax dollars?Similar Posts:

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Fix the Tax Code Friday: Tax Credits for Business

Kelly — Fri, 26 Jun 2009 14:09:33 +0000

It’s Fix the Tax Code Friday!

Over the past few weeks, I’ve reported on a number of industry-specific tax credits offered to businesses, including tax credits for the tech industry and for the movie industry. Reports have been mixed as to whether these credits produce any results.

I’m interested to know what individual taxpayers think. So today’s Fix the Tax Code Friday question is:

Should tax credits be extended to specific industries in order to attract (or keep) business in your state? If so, which industries?

(It would be great if you included the state where you live in your answer!)Similar Posts:

Fix the Tax Code Friday: What About Amnesty?

Kelly — Fri, 19 Jun 2009 15:48:10 +0000

Earlier today, I posted that New Jersey’s amnesty program has been very successful – in fact, more than three times their estimates.

Some of my colleagues have suggested a federal amnesty program might be a good idea, others believe that there might be abuse of such a program.

What do you think? Today’s Fix the Tax Code Friday question is:

Should the US offer a tax amnesty program similar to those in NJ and MD? Or is that asking for trouble?Similar Posts:

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