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Wealth Tax – Constitutional Probably – Good Idea Not So Much

Originally published on Forbes.com. Calvin Johnson’s recent paper A Wealth Tax is Constitutional, 38 ABA Tax Times No. 4 is timely as my senator, Elizabeth Warren’s proposal for a wealth tax of 2% on fortunes over $50 million and 3% on fortunes over $1...

Dressage Trainer Complains Of Tax Court Mansplaining

Photo credit Erica Flannes Originally published on Forbes.com.  I found the case of Denise Celeste McMillan pretty fascinating.  One thing that makes it possibly unique is the use of the term “mansplaining” in one of the orders. According to Judge...
IRS Drubbed In Tax Court On Partnership Interest Deductions

IRS Drubbed In Tax Court On Partnership Interest Deductions

Originally published on Forbes.com. Whether and how and when you can deduct interest is largely based on how the money you borrowed was spent.  The tracing rulings that follow the borrowed proceeds are pretty challenging.  Most of us just try to do the best we can....
Rubber Hitting The Road On New Partnership Audit Regime

Rubber Hitting The Road On New Partnership Audit Regime

Originally published on Forbes.com. Partnership returns have a new election to consider this year.  Question 25 on Page 3 of Form 1065. Is the partnership electing out of the centralized partnership audit regime under section 6221(b)? You have had four years to be...