Most Recent Posts
Did Tax Court Just Say That There Are Thousands Of Unfiled Oil Partnership Returns ?
I am really puzzled as to how the IRS and the taxpayers are supposed to unscramble this egg. The Tax Court apparently has just ruled that there are hundreds (?) of unfiled putative partnership returns with a default tax matters partner, which is in bankruptcy
Occupy Wall Street Anniversary Focuses On Robin Hood Tax
Why I find this interesting is because of the way it represents the battle for the populist high ground. The Tea Party has made a comeback with its IRS scandal narrative and its last gasp against Obamacare. There does not seem to be an equivalent on the Left. The financial transactions tax might be promising in that regard, although I have to admit that my evidence for that is highly anecdotal.
Does Tax Court Booster Decision Threaten Scouting?
If we could go back in time and erase from history whoever first thought of financing charitable activities by having kids and their parents sell a variety of food items and other miscellany such as Christmas cards, the world would be a better place. With one very large exception. That would be Girl Scout Cookies – specifically Thin Mints
Real Estate Partnerships And State Income Tax – Nasty Surprises
When it comes to New Jersey Gross Income Tax, keeping the partnership alive cost Ms. Dinallo $166,049 plus penalties and interest.
Chamberlain Medal Of Honor Raises Tax Question – Can You Value What Cannot Be Sold ?
Matt suggested that a good indication of the value of Chamberlain’s Medal of Honor might be derived from the selling prices of Victoria Crosses,
Wisconsin Will Tax Its Native Wandering Stars – The Stickiness Of Domicile
Domicile is “sticky”. To change it, you need to not only uproot, but also to settle down, at least for a while, someplace else. If you are thinking about becoming a wandering star, you should consider carefully where you will push off from. If it is a high tax state, be prepared for them to want to hang on to you.
Sixth Circuit Highlights S Corporation Perils In Broz Decision
Owners of multiple S Corporations and their advisers remind me of parents, usually fathers, who accidentally pour the orange juice on the Cheerios and then tell the kid to eat it since it is all going to the same place anyway.
Is IRS Targeting Magic The Gathering ?
I just got One of the Godslayer cycle for my kindle. It is off to a pretty good start, but I’m still not sure I can invest the time in another series. Repairman Jack took a lot out of me. There is a reluctant hero and some magic swords involved. We’ll see.
Freedom From Religion Foundation Demands Financial Transparency From Churches
Churches are not required to file and I can think of no good reason for them not to. Except for the ones that are run by phony bastards. It is hard to see how financial transparency interferes with “free exercise”.
Parent Booster Clubs – Raising Money For Your Own Kid Is Not Charity
If an organization works on raising funds so that kids can participate in a salubrious activity, that is, in principle, an exempt activity. If each of the people working the fund raisers is doing it so their kid specifically can participate, that is another story. That’s inurement.