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….
It’s not news that President Bush vetoed the House bill that tied money for the war in Iraq to a time table for the withdrawal of troops. The veto happened as promised and the House did not have the votes necessary to override the veto. It is back to the drawing board. But what didn’t…
Richard Hatch just might have gotten himself a new cellmate. Jesse Ayala Cota, age 65, a former Internal Revenue Service district director, pleaded guilty today to conspiring to defraud the United States through his involvement in a tax fraud scheme promoted by the Topeka, Kansas-based “Renaissance, The Tax People, Inc.” Cota admitted liability for tax…
The American Red Cross Board of Governors has announced that Mark W. Everson, currently serving as Commissioner of Internal Revenue Service, will become the next president and CEO of the Red Cross, effective May 29, 2007. Mark Everson has served as the 46th Commissioner of the Internal Revenue Service since May 5, 2003. He was…
Well, at least somebody is. The Treasury Department has reported that tax receipts from individuals hit a record one-day high of $48.7 billion on April 24. The previous record was $36.4 billion, set last year. Much of the record tax receipts is said to reflect increasing wealth among America’s wealthiest individuals, and came not in…