The debate between Giuliani and Romney about taxes has garnered a lot of press. And now, it’s all the rage to talk tax as a candidate. For the record, here are the sound bytes from the candidates on tax back in May.
Wal-Mart is the largest corporation in America, according to Fortune 500. According to Good Jobs First, Wal-Mart recently posted earnings of $350 billion in annual revenue and reported a profit of $11 billion (with a b). One thing is clear about Wal-Mart: they don’t like to spend money. My mom always said, “That’s how the…
See, you thought that I was going to bring up the Murphy case. Again. But no. TaxProf blog is reporting that the Ninth Circuit in Polone v. Commissioner, No. 04-72672 (9th Cir. 10/11/07), aff’g T.C. Memo. 2003-339, expressly refused to “address whether amended § 104(a)(2) violates the Sixteenth Amendment.” Just saying.
It’s ba-a-ack! After a bit of a hiatus, our weekly Getting To Know You Tuesday is back. This week, we feature Ryan Ellis of Ryan Ellis & Associates, LLC. Ryan was “name dropped” by Robert at Wandering Tax Pro. Now, onto the interview… 1. Where are you now? Washington, DC area 2. What’s your official…
No, that’s not a typo. These days, it seems, it is all about the dollars. Even in college sports – or maybe especially in college sports. The headline on this week’s Philadelphia Inquirer, Sunday Edition, blared “Raising Funds – and eyebrows” – the story about the push to raise money for colleges through athletics made…
So following up on yesterday’s post about the proposed tax relief for debt cancellation related to foreclosures, I wonder, “Is it fair?” Today’s Fix the Tax Code Friday question is: Should Congress offer tax relief to those who are affected by the housing market (those in foreclosure)? Should Congress offset the lost revenue by limiting…
The House Ways and Means Committee has voted to permanently remove the income tax consequences for homeowners whose debt is partially forgiven by a lender after a foreclosure. The bill is likely to pass the House and Senate, and President Bush has already spoken publicly about his approval of the measure. Great. Now homeowners have…
In case you missed the bickering, here’s a clip: (Author’s note: the video has since been removed.)
Aime Stewart, of Maryland, the owner and operator of Cutie Pies is our Grand Prize Winner! Cutie Pies is an individual single serving pie business. Her Cutie Pies are 4 inches in diameter and she bakes them in standard aluminum pot-pie containers. The idea is to provide an option for folks who love the idea…
The House has approved legislation that would end the extremely unpopular program that allows private collection agencies to collect tax debts for the IRS. The IRS had previously argued that the policy was not financially viable. Of the $32 million brought in since the collection bill went into effect, the IRS collected $7 million on…
