Lifted from Linda Beale’s: Romney’s “revenue neutral” 20% rate cut may not be achievable, Hassett admits…For months, many tax experts have been saying that even what is known about Romney’s plan–skimpy as it is on any real information–shows that it is unworkable. One of Romney’s sometimes advisers finally sort of acknowledged that. Kevin Hassett (an […]
by Linda Beale NY AG defends tax-exempt organization probe After complaints from some academics about the rationale for a New York investigation of tax exempt organizations and a letter from Congressional Republicans Dave Camp (MI) and Orrin Hatch (Utah)suggesting that the New York Attorney General should not be seeking copies of federal returns from taxpayers […]
I googled the title phrase and ‘Behold!’, here are the three links. Mike also sent them. Cactus and his merry band of madmen and Megan McArdle Megan McArdle has a question Megan McArdle has a question: What happens to the cottage industry among Democratic-leaning armchair economists grinding out analyses proving that Democratic presidents are, like, totally […]
by Linda Beale Romney’s Tax Views Lead to Blooper Comments Denigrating America’s Elderly and Poor Most of us who follow tax issues in the news and in political campaigns are aware that GOP candidate Mitt Romney has been very secretive about various items. First and foremost, he has been secretive about his own extraordinary wealth: […]
I was forwarded an early look at a survey that was produced by George Washington University’s School of Political Management in conjunction with Thumbtack.com. As some readers know, I am an honest to goodness small business owner. Two business actually and they are as different as say a private practice physician and a florist. So…………I […]
by Linda Beale Whistleblower gets millions: good for compliance improvement (and makes us ask again–did Romney get amnesty?) Bradley Birkenfeld, the UBS whistleblower who helped jumpstart the IRS’s enforcement of foreign bank account reporting and helped catch criminal tax evaders, ended up serving a relatively short prison term (for failure to be entirely forthcoming, in […]
by Linda Beale Corporate taxes down, workers’ taxes up–that’s America today Corporate taxes used to constitute a significant portion of federal revenues, almost a third in 1950. Payroll taxes from workers were considerably less–around 10% in 1950. Andrew Leonard, Who Really Pays Taxes? Salon.com (Aug. 28, 2012).The times have changed. Corporate taxes have declined steeply […]
by Linda Beale RS goofing on foreign trust letters, says AICPA The American Institute of CPAs (AICPA) is asking the IRS Commissioner to resolve what it suggests is a “widespread problem” for taxpayers. Download AICPA Letter to IRS on Erroneous Form 3520 Letters to Taxapyers.082812. For 2010 and earlier years, the IRS apparently has made […]
by Linda Beale Dow Jones video admits there’s not much other than anecdotal tales that even millionaires readily move from one state to another to avoid taxes OK. Admittedly long title. But you get the point. The anti-tax gurus are forever saying that states (and countries) can’t increase taxes from our historically very low point […]
Peter J. Henning, a colleague of Linda Beale, poses the question in the NYT: Is That It for Financial Crisis Cases? Last week turned out to be a good one for Goldman Sachs. The Justice Department closed a criminal investigation of the firm and its chief executive, Lloyd C. Blankfein, and the firm disclosed that […]