Most Recent Posts
Chicago Loses $29 Million Appeal By Expedia And Other Online Travel Companies
The OTCs generally operate on a “merchant model”.They buy the room nights from the hotels and mark them up. That is where the taxes get funky. The OTC does not charge you tax on what you pay for the room. The OTC charges you a “tax recovery” amount. They then pay the operator occupancy tax based on the net rate the OTC is paying for the room.
What aggravates me about the system is that if the “tax recovery” amount is greater than the tax remitted to the operator, the OTC keeps the difference rather than refunding it. To be fair, I should be open to the possibility that the tax recovery amount is sometimes insufficient, but I’m a cynical bastard, and I’m thinking tax recovery is an additional profit center.
Marijuana Retailer Not Protected From IRS Summons
It would seem to me that it is probably not in the best interest of sound tax administration for the IRS to make 280E enforcement a high priority. It may turn into another debacle such as the one that Lois Lerner created when she decided that the IRS was the last line of defense against dark money. Reilly’s First Law of Tax Policy is “Make tax policy the Switzerland of the culture war”. The IRS is probably stuck with 280E for the moment, but it does not have to make it a major priority. Maybe conservatives could embrace state rights even when it comes to things that they associate with long-haired hippies, but that might be to much to hope for,
Lafayette Was Here – Probably
... there never was nor will be such a meeting in this or any country ,,, Salem Towne Junior July 25, 1824 Burying The Lede With A Geographic Diversion Stafford Street...
Spotlight On Charitable Foundation Abuse
As charitable abuse goes, I don’t think this particular deal, assuming the worst, is all that abusive. It is not a matter of real charitable dollars being diverted to personal purposes. All the money is coming from Mr. Martin, not the gullible general public and he is just seeking a favorable tax characterization on the money that he is giving his daughters.
President’s Religious Liberty Order Might Not Change IRS At All
It is hard to see what the IRS can change in response to this order. The most recent detailed guidance I know of is Revenue Ruling 2007-41 which teaches about the rules by way of 21 examples. The examples center on the organization or its officers in effect explicitly saying “Vote for Joe”. The officers can say “Vote for Joe” as long as they make it clear they are not speaking in their official capacity and are not using organizational resources. It is not clear that the Executive Order requires any revision to that ruling, but it would not surprise me if there is somebody in the Chief Counsel’s office checking on that now.
George Will And Columnist Tax Literacy
I’ve read that a few times to make sure I am not misrepresenting George Will. It is pretty clear that he is saying that there will never be a limit on the home mortgage deduction and that he is using $500,000 by way of example. That is disturbing.
The reason it is disturbing is that there is, in fact, already in effect a balance limitation on the home mortgage deduction. Forgive me as I go geeky on you. Code Section 163(h)(2) denies deductions for “personal interest”. It includes an exception for “qualified residence interest”. A limited exception. A million for acquisition indebtedness and $100,000 for “home equity indebtedness”. The million-dollar limitation has been there since 1987 when the Tax Reform Act of 1986 went into effect.
You Should Just Hang Up On IRS Collection Calls, Legitimate Or Not
If you want to be a good citizen and a good person, you should pay the balance due if there is any way that you can. If your account is getting turned over to these collections folks though you either have a different view of tax than I do or you really can’t pay. In either case, the fact that your balance is growing because of interest likely does not matter, because people in your situation end up paying based on reasonable collection potential rather than the “correct tax”, which is of academic interest. So treat the callers from CBE Group or whichever of the gang of four happens to have your account the same way you treat the guys calling from Mumbai. But watch your mail and tell the IRS when you move.
Trump Tax Proposal And Art Of The Deal
It looks to me like the essence of the plan is to reduce as far as possible the taxes paid by people whose income is derived from capital, particularly when you include repeal of the estate tax. If you think we have income and wealth inequality now, give it a decade or so under this new regime.
Theodore Valentine The Hovindicator With Buyer’s Remorse
When Independent Baptist minister and young earth creationist Kent Hovind, nearing the end of a long prison term for tax-related crimes, faced a trial on new charges...
Century Old Tax Dispute Clouds Property Title
The mineral rights in question had been issued to Union Pacific by the US Government in 1901. That’s how we built the infrastructure that made America great. Take land from the indigenous people and give chunks of it to subsidize railroads. The railroads could then sell the land to settlers and charge them to move produce to market.
At any rate, Laramie County taxed Union Pacific’s mineral rights in 1911. Union Pacific did not pay. There was some remarkably quick work done as the mineral rights were auctioned in 1912. No bidders so Laramie County ended up with the mineral rights. In 1919 Laramie County sold the rights to Iowa Land & Livestock Company. For some reason, no deed was recorded until 1949.