I just read two weekend posts by Paul Caron of TaxProf Blog titled GAO: 83% of Largest U.S. Companies Use Offshore Tax Havens; and WSJ: Best Economic Stimulus: A Corporate Tax Rate of Zero. In the first post, Professor Caron reports that a General Accountability Office (GAO) study indicates that more than 2/3rds of America’s largest corporations have subsidiaries in [...]
Tags: C Corporations · Corporate Tax · Opinion · Tax Policy
Timothy Geithner isn’t the first Presidential cabinet nominee to have a “nannygate’ problem. Listen to this from AOL News’ Political Machine: President Clinton’s first two nominees to serve as Attorney General were felled by irregularities with their domestic help. Zoe Baird, the first of the two, had hired an illegal immigrant as a nanny and [...]
Tags: News
Just a few days ago Leona Helmsley had a comfortable lead over her closest competitor, Wesley Snipes. But out of nowhere came Al Capone and we end up with a tie. I think our friend Joe Kristan’s endorsement of Scarface influenced some folks. He has his loyal tax groupies, you know. Here are the final results: [...]
Tags: Tax Crimes · Tax Humor
Tim Geithner is Barrack Obama’s Treasury Secretary-Elect and as such, if his appointment is confirmed, will oversee the Internal Revenue Service. But, according to the Associated Press, Mr. Geithner either intentionally disregards the tax laws or, perhaps even worse, doesn’t understand them: The disclosure Tuesday that [Obama's] choice for treasury secretary, New York Federal Reserve chief Timothy Geithner, [...]
Tags: Employer Issues · Payroll Taxes · Tax Crimes
John Charles Vuckovich v. Commissioner of Internal Revenue – Here the taxpayer sued the IRS for inappropriately filing a federal tax lien against him. The fact pattern is a familiar one: The taxpayer failed to file tax returns and the IRS prepared returns for him based on available evidence. After the expiration of the Notice of Deficiency, [...]
Tags: Back Taxes · Court Cases · IRS Penalties
Leona Helmsley retains her formidable lead as we enter the closing days of the Worst Tax Cheat Poll. Here are the standings as I type: Helmsley 41% Wesley Snipes 21% Al Capone 16% Richard Hatch 11% Willie Nelson 11% Who is the Worst? Al Capone Richard Hatch Willie Nelson Wesley Snipes Leona Helmsley Bookmark & [...]
Tags: Tax Crimes · Tax Humor
Nina Olson, the National Taxpayer Advocate, has released her Annual Report to Congress (PDF). In it she recommends something old and something new: Simplification of the tax code and enactment of measures that will minimize the burden on taxpayers who are struggling to pay their tax bills. Ms. Olson said, “it is imperative for the IRS to consider the circumstances of [...]
Tags: Announcements · Back Taxes · IRS Installment Agreements · IRS Liens and Levies · Offers in Compromise · Tax Collections
