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    Payroll Tax Politics

    By Robert Goulder The GOP never met a tax cut they didn't like ... until now. That's how Democrats portray Republican reluctance to extend the payroll tax breaks scheduled to expire at the end of the year. Casual observers of U.S. tax policy...

    GE and the 57,000 Page Tax Return

    Is it a new horror film? Not exactly. In a November 28 letter to IRS Commissioner Douglas Shulman, Congressman Frank Wolf, a Republican from Virginia, wants to know how many hours IRS employees spent reviewing General Electric's massive 2010 tax return...

    Tax Reform? Just Don’t See It

    So let me see if I have this right. If you allow the so-called Bush tax cuts to expire, which they were designed to do, it's a huge tax increase (the GOP). If you allow the temporary cut in payroll taxes to be temporary, it's a huge tax increase...

    SALT To Taste: Louisiana - "Can't Touch This"

    The Louisiana Court of Appeal, First Circuit, recently issued its decision in UTELCOM , Inc. and UCOM, Inc. v. Bridges , [1] overturning the trial court's granting of partial summary judgment on behalf of the State. The primary issue addressed by...

    IRS Releases Publication 950: Introduction to Estate and Gift Taxes

    The Internal Revenue Service released Publication 950: Introduction to Estate and Gift Taxes, which is fairly self-descriptive. It explains the basic estate and gift tax system, and provides the numbers of the annual exclusion, and estate and gift tax...

    Making a Cheek Good Faith "Defense" Without Testifying

    In United States v. Kokenis , ___ F.3d ___, 2011 U.S. App. 23370 (7th Cir. 2011), here , the Seventh Circuit affirmed a conviction, although the Court rejected the trial court's notion that the defendant must testify -- thereby waiving his Fifth Amendment...

    InvestOhio Registration Begins for Qualifying Ohio Small Business Investments

    Registration for InvestOhio , a 10% personal income tax credit for investments into Ohio small businesses, has begun. First, each investor and the small business must register for InvestOhio through the Ohio Business Gateway . Each registrant will receive...

    Why Should Americans Promote Foreign Job Creation?

    U.S. multinational corporations play an invaluable role in the American economy. They are research and export intensive, and they provide tens of millions of high-paying jobs. Their worldwide distribution networks increase demand for domestic research...

    Super Committee Gridlock: In Celebration of Failure

    We're being told America's future has suddenly grown more bleak because the Joint Select Committee on Deficit Reduction has dropped the ball . I'm not sold on that conclusion. The failure of the Super Committee might be exactly what America...

    Greece's Inability to Tax Itself

    The papers say we're on the verge of an economic meltdown because numerous EU member states can't get their fiscal house in order, and the contagion will inevitably spread to all corners of the globe. The sovereign debt crisis is rapidly becoming...

    Government Bubbles

    Funny how the mind works. I read Jeremy's and AMT Buff's comments to my earlier post Fair's Fair . I read the post by Robert Goulder entitled Greece's Inability to Tax Itself . For some reason, I started thinking about bubbles. In recent...

    This Week's Stories Worth a Second Look: State Tax Updates

    In case you missed them, the following is a summary of a few key state tax developments, news articles, and observations during the past week: Simon Property Group sues Indiana over e-commerce sales tax - from Bloomberg Businessweek Here's...

    OK, Mr. Prosecutor, Why Are You Punting on the Relevant Conduct?

    Renzo Gadola, a UBS representative servicing U.S. customers, pled to "conspiring to urge one U.S. taxpayer not to disclose his secret Swiss bank account to the IRS." See my posts on Gadola here . I post a copy of the prosecutors' sentencing...

    The Smart Money Says Deadlock

    In politics, the smart money is always cynical. It bets on inertia, not change; on symbols, not substance. Hope? Progress? Suckers' bets. The smart money isn't always right, but when it comes to the so-called supercommittee, it's made a safe...

    Credit Suisse Affiliate Bank Rolls Over

    Clariden Leu, a banking affiliate of Credit Suisse, is participating in the disclosure, presumably just because it is a CS affiliate. The general Clariden Leu web site is here . The Clariden Leu public announcement on its web site, here , is: US Request...

    Employer State Income Tax Withholding with Today's Mobile Workforce

    Even in the day of teleconferences and electronic interaction, face-to-face communication with business contacts is inevitable. This in-person touch often requires employees to venture outside their home state, thereby earning a portion of their salary...

    The Truth About Who Pays Income Taxes

    " Nonpayers " - IRS figures show that in 2009, a record 58.6 million tax filers (42 percent of all tax filers) had no income tax liability after taking their credits and deductions. When Congress's Joint Committee on Taxation added to this...

    Another UBS Client is Sentenced - 1 Year and 1 Day

    According to the USAO SDNY press release (not yet mounted on the USAO SDNY web site), Richard Werdiger, "a former client of Swiss bank UBS AG ("UBS"), was sentenced today to one year and one day in prison for conspiring to defraud the Internal...

    Veterans Job Credit is Feel-Good Tax Policy -- and a Distraction

    The Senate is poised this week for another exercise in strictly symbolic politics.The VOW to Hire Heroes Act -- a pair of job creation tax incentives extracted from the ruins of President Obama's failed stimulus measure -- seems likely to get a vote...

    Excellent Article on Offshore Accounts - History and Future

    Readers might be interested in a new article published this week in Tax Notes, Charles P. Rettig, Evaluation of an IRS Undisclosed Offshore Account IDR , 133 Tax Notes 759 (Nov. 7, 2011). I will try to post a link to the article when I have one, but in...

    Giving Business a Fresh Start on Worker Misclassifications

    The proper classification of a worker as an "employee" or "independent contractor" is one of the more important, but sometimes confusing, tasks faced by a business. In earlier posts, I've provided guidance on making the right classification...

    WSJ Reports Republicans Ready for Tax Hikes

    Talk about burying the lead! In this morning's Wall Street Journal Stephen Moore reports in the 4th paragraph of an op-ed that super-committee co-chairman Jeb Henserling (R-Tex.) told him: "We have no interest in raising rates --period."...

    Article Summarizing the Swiss Bank Developments and Process

    I offer here a new article which I think readers might find quite helpful. Walter H. Boss and William M. Sharp, Sr., The Swiss-U.S. 'Turnover' Ground Rules: A Technical Update , 64 Tax Notes International 423 (11/7/2011), here . Key points which...

    Dismissing Weak Claims

    Sexual harassment week continues. Last post I addressed What is Sexual Harassment? The gist was that successful sexual harassment claims are harder to establish than some people think. Today's post comes at it from the other angle: getting rid of...

    The Flat Tax is a VAT . . . in 90 Seconds

    Republicans despise the value-added tax. But the flat tax they admire so much is nothing more than a value-added tax split into two parts. A value-added tax is a tax collected from business. The tax base is the difference between business receipts minus...