Posts tagged as:

Doug Shulman

Sis-Boom-Bah, Kick ‘Em In the Other Knee

6 October 2010

Some folks think that football is just a game. In many parts of the country, those folks would be wrong. In the South (and indeed in other places around the country like State College, PA), football has assumed a level of importance right next to God; in fact, we often joke in the South that [...]

3 comments Read the full article →

Shulman Talks International Tax At GWU

10 December 2009

Today, the IRS published the “Prepared Remarks of Commissioner Douglas Shulman before the 22nd Annual George Washington University International Tax Conference.” You can read the whole speech here. But for those of you who don’t have the time to read the 2703 word speech, here’s a summary: Shulman started out with an update on three [...]

3 comments Read the full article →

So Tell Me, Taxpayer: Do You Feel Lucky?

18 November 2009

It was a question posed to US taxpayers by the IRS in the wake of the UBS scandal: do you feel lucky? The US offered US taxpayers the opportunity to voluntarily disclose offshore bank accounts as part of an amnesty program earlier this year. The choice? Come forward now and escape criminal prosecution or take [...]

3 comments Read the full article →

Fix the Tax Code Friday: Targeted Enforcement

13 November 2009

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. [...]

9 comments Read the full article →

IRS Targets Wealthy for Enforcement

27 October 2009

So, who among us didn’t see this coming? IRS Commish Doug Shulman has announced the establishment of a new enforcement unit targeting the very wealthy. The group, called the Global High Wealth Industry, will specifically investigate partnerships, offshore trusts and other techniques used by the wealthy to hide income. How wealthy is wealthy? Unlike a [...]

7 comments Read the full article →

UK Tries Out Amnesty for Offshore Accounts

29 July 2009

In an effort to recover income from funds that might have been hidden offshore, the US introduced a Voluntary Compliance Program that offers reduced civil penalties and no criminal penalties. At the time, IRS Commission Doug Shulman described the program as stating: The goal is to have a predictable set of outcomes to encourage people [...]

0 comments Read the full article →

But Tax Pros Are Already Certifiable…

18 June 2009

It seems that the IRS’ on again off again love affair with the idea of certifying tax preparers is on again. Earlier this month, IRS Commish Doug Shulman announced a proposal that would require tax preparers be licensed and certified. The immediate feedback on the proposal has been mixed. My colleagues at the ABA are, [...]

12 comments Read the full article →

IRS Reverses Course on Cell Phone Tax; Asks Congress for Repeal

16 June 2009

Just a few days ago, IRS Commissioner Doug Shulman asked for public feedback on proposals to clarify a 1989 law regarding the taxation of cell phones. Apparently, he got some. Earlier today, Shulman announced that he, together with Treasury Secretary Geithner, has asked Congress to repeal the tax altogether. (Remember, Congress makes the tax laws, [...]

7 comments Read the full article →

IRS Announces Additional Tax Breaks on Purchases of New Cars

11 June 2009

The good news under ARRA (American Recovery and Reinvestment Act of 2009): if you buy a qualifying new vehicle after February 16, 2009, and before January 1, 2010, you can deduct state or local sales or excise taxes paid on the purchase. The deduction is available whether or not you itemize. The bad news under [...]

8 comments Read the full article →

IRS to Millionaires: Show Me the Money

21 May 2009

Those Housewives of New Jersey better brace themselves: the IRS has announced that it’s focusing its audits on wealthy individuals and corporations as part of a broader effort to crack down on international tax cheats. IRS Commish Doug Shulman, a Bush appointee, has declared international compliance his “top priority.” He told the US House of [...]

0 comments Read the full article →

← Previous Entries

Next Entries →