Most Recent Posts
No Fans Of Sister Wives At The IRS ?
These beliefs and practices include polygamy or plurality of wives. You stated that you “…have a religious belief known as ‘Celestial Marriage’ which includes a plurality of wives.” You describe “Celestial Marriage” as a private religious relationship between consenting parties of legal age which is not recognized as a marriage by state authorities.
Carried Interest Debate Heats Up Without Much Light
If, however, the Administration really thinks venture capitalists and the like should not be getting capital gains treatment, there may be a fix that does not require another three thousand words in the Code and the cooperation of Congress. Just have the IRS rule that operating investment pools as partnerships so that managers can receive their compensation in the form of a share of the partnership’s capital gain is not consistent with the intent of Subchapter K. Those arrangements could be operated as co-ownerships that pay a management company incentive compensation.
Render Unto Caesar – Mormon Tithe Not A Necessary Expense In IRS Collection Case
Laws of general applicability that require persons to meet certain general requirements of citizenship, such as paying taxes, cannot be avoided by the fact that they indirectly make it more difficult to fulfill a purely religious duty, such as a member tithing a certain amount to his church or making a pilgrimage to a shrine in a foreign country.
Ellen DeGeneres Speaks Out For Spanish-American War Widowers
You would think with all the talk about the 1,138 rights there would be a list somewhere. Well, if I was more of a geek, I would make one for you. What you have to do is take this report from 1997 and update it with this report from 2004, which lists things that were either repealed or added.
Time To Eliminate Joint Filing ?
The trilemma holds that an income tax cannot simultaneously maintain progressive marginal rates, impose equal taxes on equal-earning couples, and insist on marriage neutrality.
What Were They Thinking ?
One of the ways to buy time is “managing payables”. In its extreme form you only pay bills to vendors who are capable of and prone to exacting immediate revenge like shutting off the lights. When operating in this mode there is a great temptation to not deposit payroll withholding.
Don’t Be Fooled By E-Mail ‘From IRS’ – But Don’t Ignore Their Snailmail
Do not ignore snail-mail from the IRS. That is how they contact you and often there are deadlines on when you need to respond to preserve your rights. If you work with a tax professional it is a good idea to fax him a copy before you call and ask about it, although I do find it entertaining to try to explain notices that I am not looking at.
Partnership Needs More Than One Partner
If the deal had otherwise worked it would have been really devastating to lose it on that basis, since an election by the disregarded entities to be treated as corporations would have saved it. Actually it was just another nail in the coffin, but one to watch out for in transactions of more substance.
Bill Romanowski's Tax Court Loss Not A Typical Horse Case
The bottom line is that both the Romanowski and Pederson are really bad tax shelter cases rather than horse breeding cases. It strikes me as odd that somebody who was going to promote a tax shelter would uses horses, since the business already has red flags associated with it. I keep a rough tally in my head of what activities are most likely to win hobby loss cases. Car racing and Amway do not do well at all. Horse breeders, on the other hand, frequently win, although the IRS keeps going after them. Whatever anybody else thinks, I’m not going to count these cases against actual horse breeders.
Married Same Sex Couples – Windsor Decision Requires Action This Tax Season
The calculator does not address situations like that. The calculator does not even address the possiblity that Robin has capital losses and Terry has capital gains. If your affairs are at all beyond plain vanilla, you will need to set up both returns in full in order to make a sound judgment.