Most Recent Posts
Conservation Easements -Is IRS Burning The Forest To Save It?
I am not a big fan of using tax incentives to support worthy goals, but it seems that there is no stopping it. As it presently works conservation easement deductions represent a potential for abuse that will continue to exist even after DOJ and class actions attorney finish their march through Georgia which may wreck the professional lives of many accountants, lawyers, appraisers and others attached to the industry.
A better model might be what is done in low-income housing. There is a credit that is limited by state population and doled out annually. That creates an incentive to use the federal tax benefits more wisely.
Senate Bill Addresses Remote Worker State Tax And Gig Worker Issues
It strikes me that a state hard hit by the “state tax certainty” rule may be New York, since employers will have the option of treating workers not able to come into Manhattan from New Jersey as working in New Jersey. New York tends to be very aggressive in bringing people into its jurisdiction and has a high rate.
Massachusetts had issued a ruling to the effect that during the crisis people would be treated as continuing to work wherever they had been working. Under this legislation, employers could treat people working from home in New Hampshire as being in New Hampshire. New Hampshire does not tax wages.
I am sure there are other pairings of high and low tax states that I am not thinking of. And the high tax states tend to be blue, so maybe there is some politics to this measure, which overall is pretty reasonable.
How QAnon Candidate Marjorie Greene Used Conservation Tax Scandal To Help Win Congressional Nomination
GA-14’s GOP primary has turned into two millionaires throwing corruption charges at each other instead of fighting for their constituents. This ugly infighting among ethically challenged, extreme candidates is exactly what’s wrong with today’s Republican Party
When In Rome – Conservation Easement Scandal Enters Congressional Race
I do believe that there are well-to-do Romans within the power structure of the community and people are reluctant to go on the record in opposition for fear of retaliation
Paycheck Protection Moving In The Senate
There is nothing in either of the two pieces of HEALS that have been released on deducting expenses that are funded by forgiven PPP loans. The IRS in Notice 2020-32 ruled that the expenses were not deductible, which seemed to contradict what Congress intended when it deemed the forgiveness not taxable.
Clearing that up one way or the other would avoid a lot of litigation in the coming years.
Paul Hansen And Kent Hovind Go To A Bridge Tournament To Play Crazy Eights
I prefer board and card game analogies. Litigation is like a duplicate bridge tournament. There are strict rules about when you can bid and you have to be open about what your bids mean. There are also strict rules about how you play. And there is the etiquette on top of that. I like to say that Hovind and Hansen go into court and play crazy eights because that sounds funny. What they actually play is TEGWAR – The Exciting Game Without Any Rules, which ironically is explained in a baseball movie Bang The Drum Slow (go to 0:46)
My Hovind Posts As Youtube Stars
Three very clever, somewhat snarky people read two of my posts making comments as they went along, They only had two hours, so they did not get to the third posts. It was very gratifying that the remarks on my work were quite positive.
IRS Misdated Notices – Some Mystery Remains
It would seem that unless I have a very bad sample, the percentage of misdated notices that went out without explanatory inserts is substantially more than the minuscule percentage reported by the IRS. Something tells me we will be reading a TIGTA report about this. Well, I’ll probably read it. Whether I report on it or not will be determined by my mood and what else is going on.
Second Stimulus Check – Wait For Something To Pass
Way back on June 1, 2020, which seems like eons ago, HR 6080 was passed by the House of Representatives and went to what is usually the final resting place of anything the House passes – the Senate.
The bill included an additional “rebate amount” of $1,200 plus $1,200 for each dependent up to three. Phaseout starts at $75,000 single, $112,500 HOH and $150,000 joint modified adjust gross income. The modifications relate to exclusions for income earned outside of the fifty states and DC
Marching Through Georgia – Class Action Lawsuits Against Conservation Syndicators
Regardless among the most colorful members of the faculty were the sergeants. Sergeant Daley, in particular, would pepper his instruction with anecdotes about Army life. One of his stories was about being in a bar in Atlanta shooting pool. He started whistling Marching Through Georgia (which perhaps was going through a revival thanks to Tennessee Ernie or maybe because it celebrates one of the great achievements of the United States Army).
A couple of fellows looked at him kind of ominously and then one of them walked up to him and politely but firmly told him “We don’t like that tune around here very much”.