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!
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!
It’s Fix the Tax Code Friday! And it’s been a long tax week for many of us. So, with tax returns fresh on your mind, I thought I’d ask my readers the same question that I ask my GTKYT tax pros:
If you had the opportunity to make one change in the tax code tomorrow – an extra credit, a disallowed deduction, whatever – what would it be?
