Congress May Give IRS Authority To License Tax Preparers

Last year, Internal Revenue Service (IRS) Commissioner John Koskinen announced the Annual Filing Season Program, a voluntary and temporary program intended to fill the holes left after the IRS lost the right to regulate tax preparers following Loving v. Commissioner. At the time, Commissioner Koskinen called the program “not the ideal solution” and was hopeful … Read more

Making It Rain: Alabama Considers Porn Tax On Strip Clubs, Magazines & More

Raise taxes or else. Those were the marching orders issued to the Alabama House of Representatives from Gov. Robert Bentley (R) earlier this year. Specifically, the “or else” included a threat to cut a number of services to taxpayers including closing prisons. Kicking up the rhetoric, he warned taxpayers in April, “You might not care about … Read more

Over 2,000 Businesses Send Letter To Congress Demanding Attention To Tax Extenders Bill

Last year, the Senate waited until just over two weeks left in the calendar year to pass a bill that extended certain tax provisions through December 31, 2014 (retroactive to January 1, 2014). In contrast, this year it felt like Congress was getting a jump on things when they began contemplating a tax extender package … Read more

Trump To H&R Block: You’re Fired!

GOP presidential candidate Donald Trump prides himself on speaking his mind. And what he has on his mind is getting rid of Kansas City-based tax preparation company H&R Block. When asked on “Fox & Friends” about tax policy, Trump offered up a few words, “Put H&R Block out of business.” Trump was referring to efforts … Read more

Tax Collections Hit Record Highs With No Dip In Spending

With two more months left to go in the fiscal year, the feds are on a roll. Tax revenues for the first ten months of the fiscal year topped a record $2,672,414,000,000 (report downloads as a pdf). Those numbers represent almost 8% in growth of tax revenues over those collected in 2014. In pure dollars, … Read more

Harper Says No To Netflix Tax In Canada Even Though It Already Exists

No “Netflix tax” in Canada. That was the word from Canadian Prime Minister Stephen Harper. Harper promised not to tax streaming services last week, saying, “I’m 100% against a Netflix tax — always have been, always will be.” He warned, however, that his opponents might do just that, claiming, “Some politicians want to tax digital … Read more

Gun & Ammo Tax Aims At Reducing Violence In Seattle

If you’re a gun owner (or hoping to be) in the city of Seattle, it’s going to cost you: Seattle City Council has unanimously approved a new tax on gun and ammo sales. Under the new law, referred to as the “gun violence tax,” gun and ammo sales in the city are subject to a tax … Read more

Our Current Tax v. The Flat Tax v. The Fair Tax: What’s The Difference?

The GOP Debate last night was big on drama but short on specifics – especially when it came to the economy. Almost all of the candidates touted the need to grow the economy and reform the Tax Code but offered little in the way of details about how to best do this with two exceptions: … Read more

11 Reasons Why I Never Want To Own A House Again

(Author’s note: This article was originally posted on September 27, 2013. I am reposting it here today as part of the dialogue about renting and homeownership that inspired an e-book on the topic, launching today.) Home, Sweet Rental: An eBook From ForbesHomeownership isn’t all it’s cracked up to be. Learn how to find the perfect … Read more

Home, Sweet Rental: Busting The Hype Of Homeownership

EDITOR’S NOTE: Forbes launched Home, Sweet Rental: Busting The Hype Of Homeownership, our latest eBook. It’s a must-read for those who want a smarter, thoughtful approach to buying or renting a home. Home, Sweet Rental: An eBook From ForbesHomeownership isn’t all it’s cracked up to be. Learn how to find the perfect rental and negotiate … Read more