Highlights of some of our favorite tax-related blogs from the past week.
Big questions
The Income Tax School : IRS Commissioner Koskinen probably rivals Richard Nixon when it comes to impeachment rumors. What is the commissioner’s future?Dinesen Tax Times : The IRS position on one-person LLCs, EINs and W-9s raises questions. What if the LLC gets a 1099 in the LLC’s name and using the LLC’s EIN? How will the IRS computers match the income from that 1099 if the Schedule C doesn’t show the LLC’s EIN? Where would we all be without capslock?The Tax Times : How the Ball Bounces Dep’t.: How big a part do state income taxes play in how pro hoops players move team to team?Mauled Again : Where do the taxes go in Georgia after the fireworks go boom?
Favorites
Taxable Talk : Our fav headline of the week: “Fail, Caesar!”, about the merry mix-ups that keep occurring in the wake of bankruptcy of Caesars Entertainment Operating Company.Don’t Mess With Taxes : Our favorite opening this week: “One thing you can say for California is that its impressive diversity also extends to disasters.” A look at tax relief for Californians in connection with an historic natural gas leak.
The Great Unpleased
Federal Tax Crimes : Just can’t seem to get that ol’ Tax Court to accept the doctrine of equitable estoppel arising from the taxpayer's conviction for tax evasion. As is usually the case when the following words appear, take note: “The IRS was not pleased.”Procedurally Taxing : A look at the 7th Circuit’s recent reversal of the Tax Court in King v Commissioner, holding that the Tax Court was incorrect in concluding that the service abused its discretion in not abating the late Mr. King’s interest that accrued on employment tax liabilities. Also, how the service recently awoke to the 21st century and stopped using phones to initiate contact in failure to deposit cases.Tax Policy : The ins and outs of FICA and MEDFICA, 7.65 percent of wages. (“When it comes to these payroll taxes, as they are commonly known, there is a lot more than meets the eye ...”)BNA blogs : “We now have our court case,” said Alabama Commissioner of Revenue Julie Magee, opening this discussion of a challenge to her state’s economic nexus statute and regulation.
Bedfellows
Tax Vox : “If you’d like to take a break from the made-for-TV thrills of the Democratic convention,” here is one of the bite-sized explanations of Hillary’s tax proposals: the tax changes to raise $1.1 trillion in revenue over the next decade, mainly from high-income earners.H&R Block : Much in the news (at least in terms of the first night of the DNC), the disabled and a look at their tax benefits for themselves and their families.
Happy holidays
Taxjar : Sales tax holidays this year, state by state.Taxing Subjects : Speaking of which, do the above breaks offer all they claim? A look at a recent analysis from the Institute on Taxation and Economic Policy.TurboTax : In honor of National Parents Day (established in 1994 as a way of “recognizing, uplifting, and supporting the role of parents in the rearing of children”), a look at tax benefits to help moms and dads save money. We thought every day was parents’ day…
