Years ago, in my Tax Policy class, we had a discussion about the value of intangible labor. The discussion was whether it was appropriate to quantify (and therefore, tax) the value of work brought into a home. Sound “out there”? Not really. Salary.com basically does the same thing (minus the taxing part) every year as…
A number of the presidential candidates have suggested replacing the current tax system with a more simple program. It feels like it shouldn’t be hard to do since Title 26, the Tax Code, is the largest section of the U.S. Code. To put the laws and related documents on paper now takes more than 55,000…
It’s easy to listen to a few quick sound bytes from the presidential candidates and get confused. It’s also understandable – they have a lot to say and not a lot of time to say it. Following my review of the debates for the GOP and the Dems, I thought I would offer each of…
Tax season has finally wrapped up more or less for individual taxpayers – well, except for those of you (like me) with extensions. After sorting through my inbox filled with questions from panicked last-minute filers, I decided that what I really needed to post was a “What Not to Do” list. So, enjoy this list…
Taxes. Like them or not, they are going to haunt the presidential candidates in the upcoming election. Earlier this week, I offered some perspective on the GOP candidates’ stance on tax issues as articulated by each of them during the most recent debate. Now, it’s the Dems’ turn. The Democratic candidates for President fielded questions…
It’s Getting To Know You Tuesday and our guest today is Richard Murphy from across the pond! 1. Where are you now?Downham Market, Norfolk, England (that’s the old one, not the New one). I live and work here. It’s fantastic. 2. What’s your official title and what does it mean?I’m director of Tax Research…
I’ve noted before that nobody likes a partisan tax blogger. But you also can’t talk about tax policy in any meaningful way without considering the political ramifications. So throughout the next year (oh my God, is it really a whole year?), I plan to visit and no doubt, re-visit, the tax stances of various political…
The IRS is seeking comments on several revisions to the federal form 1120-F, U.S. Income Tax Return of a Foreign Corporation. Included in the revisions is a new schedule M-3 which is required filing for taxpayers with $10 million or more in total reportable assets. Schedule M-1 (Reconciliation of Income (Loss) per Books with Income…
It’s Fix the Tax Code Friday! In the last presidential election, we heard quite a bit about the so-called 527 organizations like “Swift Boats for Truth”. To recap, 527 organizations are named after 26 U.S.C. § 527 – basically section 527 of the Tax Code (the Tax Code is Title 26). Generally, tax exempt organizations…
When the blog migrated over to the new format, I lost some of my old links. You may get a 404 error and taken back to my homepage. I have to go back through and edit the links manually, which may take awhile. If you find a bad link, don’t despair! I’m working on it….