Howard Gleckman of Tax Vox writes about the complicated IRS tax credit scheme the Baucus Healthcare Plan creates in order to subsidize the requirement that all Americans have insurance: Still, these subsidies are the key to health reform. The government can’t make insurance companies sell to all comers unless everybody is required to buy. Otherwise, healthy people won’t [...]
Tags: healthcare reform
Several tax bloggers have written about the upcoming documentary titled An Inconvenient Tax. Here’s a short synopsis: “An Inconvenient Tax” explores the history of the income tax and brings to light the causes of its many complexities. The film follows the tax through wars, economic booms, and some of the most significant presidencies in U.S. history. To [...]
Tags: Tax Policy
From Big Government: The IRS says it is severing ties with ACORN, the community activist group involved in a scandal after employees were caught on video giving advice to a couple posing as a prostitute and pimp. The Internal Revenue Service said Wednesday it would no longer include ACORN in its volunteer tax assistance program. [...]
Tags: Regulation of Tax Preparers
Florida: Land of warm weather, beautiful sunsets, year round golf and low taxes. Life is good. The Tax Foundation has published its annual business climate index and Florida once again is in the top 10: South Dakota Wyoming Alaska Nevada Florida Montana New Hampshire Delaware Washington Utah Bookmark & Share:
Tags: State Taxes
Forbes reports that a 78-year-old retired tax lawyer said he intends to challenge the IRS’s ruling disallowing a medical expense deduction he claimed for more than $300,000 he spent for prostitutes and pornography. William G. Halby of Brooklyn, N.Y. says the prostitutes and pornography were necessary to help him fight his depression: “It’s a holistic approach to medicine,” he said. “I [...]
Tags: Deductible Expenses
What makes a true hero? Courage in the face of personal danger? Perserverence in the face of great odds? Sacrifice for the benefit of others? Supreme Court Justice Potter Stewart once famously said he couldn’t define obscenity but he knew it when he saw it. Well I feel that way about the word hero. I can’t define it, but [...]
Tags: Top Ten Lists
The Associated Press reports that the IRS will extend the September 23rd deadline for foreign tax evaders to file for amnesty. The new deadline will be October 15th: The IRS is extending the Wednesday deadline for international tax dodgers to apply for an amnesty program in order to give a rush of applicants more time to prepare [...]
Tags: Announcements · International Taxation
