Tax Law

Recent Posts

Tax.com Reader Survey: The People Have Spoken
Posted on 24 Aug 2011 by Robert Goulder

Thanks to all the Tax.com readers who participated in our recent survey. ... Our first survey question was about the congressional deficit reduction 'super' committee. ... A clear majority of participants, 59%, responded that the committee's... Read More

Busting Myths About Rich People's Taxes
Posted on 18 Apr 2012 by Martin A. Sullivan

There are good reasons for the government to keep its hand out of the pockets of the wealthy. For example -- and this will be a shocker to most liberals out there -- it is a basic tenet of tax economics that an efficient system should eliminate all taxes... Read More

Soaking the Rich the Right Way
Posted on 20 Sep 2010 by Christopher Bergin

You can't turn to any media lately without hearing the great debate about whether we should extend the so-called Bush tax cuts to "the rich" or just extend them for "the middle class." But when they talk about "the rich,"... Read More

A Simple-Minded Question for Thanksgiving
Posted on 30 Nov 2010 by Christopher Bergin

I think of myself as simple-minded. That doesn’t mean I think I’m a dope; it just means that I like to think of things in simple terms. Politicians like to present things in complicated and confusing terms. . . . . So here’s my... Read More

Taxing the Rich, and Missing the Point
Posted on 30 Jul 2012 by Christopher Bergin

The hot tax news is that President Obama has proposed extending the so-called Bush tax cuts but only for the middle class, not for the people the President thinks are rich. (If he gets what he wants can we start calling them the Obama tax cuts?) Apparently... Read More

A Time Bomb of a Tax Code
Posted on 7 Apr 2012 by Christopher Bergin

There's a lot of serious news out there - tragedy, health care, a nuclear Iran. It seems the news of the day roars at us. But if you turn down the sound, you can hear it: tick, tick, tick. What is it, you say? It's the federal tax system... Read More

Gridlock's First Victim: Tax Policy
Posted on 12 Nov 2010 by Christopher Bergin

It seems to me that something happens to people when they become members of the U.S. Congress: their arrogance quotient goes up, and their intelligence quotient goes down. . . . . Here’s my scenario. Having little choice, President Obama is signaling... Read More

Tax Class Warfare - It's Not About Luck
Posted on 30 Jul 2010 by Christopher Bergin

[ The Bush] tax cuts are set to expire at the end of this year. So, the Democrats and President Obama have a problem. Why is it their problem? Well, currently, they're in charge. And the expiration of these cuts is now getting a lot of attention ... Read More

Tax Cuts Kill Jobs, Part 2
Posted on 4 Oct 2010 by Martin A. Sullivan

In a recent post we talked about the best kept secret in Washington: supply-side effects of debt-financed tax cuts are negative. To back this up we cited a just-released CBO study and 2003 report from the Joint Committee on Taxation. Here's some additional... Read More

Some Tax-Free Advice to Congress
Posted on 13 Oct 2010 by Christopher Bergin

An important and practical article in yesterday’s Wall Street Journal by Laura Saunders asks a fairly simple question: how are Treasury officials to come up with withholding rates for next year when thanks to Congressional inaction, they have no... Read More

Warner's Solution to the Tax Cut Conundrum
Posted on 17 Nov 2010 by Robert Goulder

You know the story by now. If Congress doesn't renew them by the end of the year, the Bush tax cuts will expire and tax rates will return to the levels that existed when Bill Clinton was in office. That means the top marginal rate on ordinary income... Read More

Small Things Come in Small Packages - The 2010 Small Business Jobs Act
Posted on 28 Sep 2010 by Mark A. Muntean

I didn't think I would ever say this, but it can be good to be small. President Obama's Small Business Jobs Act (H.R. 5297) is intended to benefit both small businesses and small business lenders. The House passed the 2010 Tax Act on Thursday... Read More

Call Their Bluff, Mr. President
Posted on 30 Nov 2010 by David Cay Johnston

Will President Obama cave on yet another of his campaign promises, this time by giving in to Republican demands to extend all of the temporary Bush tax cuts? The president signaled this on his Asia trip when he said his principal concern was retaining... Read More

  • Blog Post: Tax Class Warfare - It's Not About Luck

    [ The Bush] tax cuts are set to expire at the end of this year. So, the Democrats and President Obama have a problem. Why is it their problem? Well, currently, they're in charge. And the expiration of these cuts is now getting a lot of attention . ... Our economic recovery is shaky at best...
  • Blog Post: Soaking the Rich the Right Way

    You can't turn to any media lately without hearing the great debate about whether we should extend the so-called Bush tax cuts to "the rich" or just extend them for "the middle class." But when they talk about "the rich," they never talk about the hedge fund managers...
  • Blog Post: Small Things Come in Small Packages - The 2010 Small Business Jobs Act

    I didn't think I would ever say this, but it can be good to be small. President Obama's Small Business Jobs Act (H.R. 5297) is intended to benefit both small businesses and small business lenders. The House passed the 2010 Tax Act on Thursday night, September 23, 2010, and President Obama signed...
  • Blog Post: Tax Cuts Kill Jobs, Part 2

    In a recent post we talked about the best kept secret in Washington: supply-side effects of debt-financed tax cuts are negative. To back this up we cited a just-released CBO study and 2003 report from the Joint Committee on Taxation. Here's some additional supporting research: (1) In a 2002 article...
  • Blog Post: Some Tax-Free Advice to Congress

    An important and practical article in yesterday’s Wall Street Journal by Laura Saunders asks a fairly simple question: how are Treasury officials to come up with withholding rates for next year when thanks to Congressional inaction, they have no idea what the tax rates will be? . . . . . . ...
  • Blog Post: Gridlock's First Victim: Tax Policy

    It seems to me that something happens to people when they become members of the U.S. Congress: their arrogance quotient goes up, and their intelligence quotient goes down. . . . . Here’s my scenario. Having little choice, President Obama is signaling a compromise on continuing tax cuts for people...
  • Blog Post: Warner's Solution to the Tax Cut Conundrum

    You know the story by now. If Congress doesn't renew them by the end of the year, the Bush tax cuts will expire and tax rates will return to the levels that existed when Bill Clinton was in office. That means the top marginal rate on ordinary income would jump from 35% to 39.6%, the long-term capital...
  • Blog Post: Call Their Bluff, Mr. President

    Will President Obama cave on yet another of his campaign promises, this time by giving in to Republican demands to extend all of the temporary Bush tax cuts? The president signaled this on his Asia trip when he said his principal concern was retaining the middle-income tax rates. Republican congressional...
  • Blog Post: A Simple-Minded Question for Thanksgiving

    I think of myself as simple-minded. That doesn’t mean I think I’m a dope; it just means that I like to think of things in simple terms. Politicians like to present things in complicated and confusing terms. . . . . So here’s my simple-minded question. Does the GOP stance on tax...
  • Blog Post: Tax.com Reader Survey: The People Have Spoken

    Thanks to all the Tax.com readers who participated in our recent survey. ... Our first survey question was about the congressional deficit reduction 'super' committee. ... A clear majority of participants, 59%, responded that the committee's plan would not gain Congressional approval...