I found an interesting article in Legal Times titled When is Tax Practice ‘Legal’? The author, Christopher S. Rizek, discusses whether and to what extent communications between a taxpayer and his or her non-lawyer tax advisor are privileged. Rizek begins by stating that IRS Circular 230 contains the following disclaimer: Nothing in the regulations in this [...]
Tags: Regulation of Tax Preparers
Kay Bell of Don’t Mess With Taxes writes about the IRS’s intensified program to find and prosecute rich tax evaders in Get Ready for Increased Audits: “The [amnesty] initiative is part of a much broader effort to crack down on offshore tax evasion,” [IRS Commissioner Doug] Shulman said. He noted that the IRS also plans to [...]
Tags: Tax Collections · Tax Crimes
Progressives and liberals like to criticize conservatives for being antiquarian and stuck in the past. These charges, if they are honest at all, rest on the shaky assumption that all change is progress. H.L Mencken stated it better than I (or anybody else, for that matter) ever could: The world always makes the assumption that the [...]
Tags: Philosophy · Politics
The Tax Foundation’s Tax Policy Blog has issued a News Release titled To Close the Deficit, Federal Income Tax Rates Would have to Nearly Triple: Federal income tax rates would have to be nearly tripled across the income spectrum if Congress were to close the deficit in fiscal year 2010, according to a new report from [...]
Tags: Legislative Watch · Tax Policy
William Perez has published the 2010 tax rate schedules: Single Filing Status [Tax Rate Schedule X, Internal Revenue Code section 1(c)] 10% on income between $0 and $8,375 15% on the income between $8,375 and $34,000; plus $837.50 25% on the income between $34,000 and $82,400; plus $4,681.25 28% on the income between $82,400 and $171,850; plus [...]
Tags: Individual Taxation
Tags: News
Judge Richard A. Posner writing for The Becker-Posner blog on the Obama administration’s efforts to limit the executive pay of corporations that have received federal bailout money says: Limiting the compensation of a handful of employees at a handful of firms can’t have any effect except to benefit the firms’ competitors by making them more attractive places to work. [...]
Tags: Legislative Watch · The Economy
