Most Recent Posts
The National Anthem – Stand Up – Sit Down – A Case For Both
I guess you can start this story with Colin Kaepernick of the San Francisco 49ers refusing to stand for the National Anthem. It is important to note that the concerns...
More On The National Anthem Controversy
I just did a piece inspired by reaction to Colin Kaepernick declining to stand for the National Anthem. Although Kaepernick's stand or (unstand) is based on current...
Minister’s Vow Of Poverty Does Not Beat Income Tax – And Kent Hovind Update
And yet he still could have succeeded. I’m personally not sure about the IRS’s reasoning in Rev. Rul. 77-290, but the ruling exists and provides a roadmap for pastors who want to take a vow of poverty to avoid paying taxes: basically, they have to mean it. Here, if Pastor White had given up signatory authority over the bank account, he probably wouldn’t have had to pay taxes.
And, in that way, right or not, the IRS’s standard is remarkably clever. It says, “If you’re actually willing to give up your rights to the money, we’ll believe your vow of poverty, and treat you like you didn’t earn the money.” But the thing is, that’s a really steep price, and White was apparently unwilling to pay it. So he lost, and rightly.
Mike Pence Voted For Bill That Cost Him Tens Of Thousands In Income Tax
That ruling would have made the $673,797 deductible to Mike Pence, which could have wiped out his taxes for three or four years. Unfortunately for him, Congress plugged that hole in 2002 with the Job Creation And Worker Assistance Act of 2002. Congressman Mike Pence voted “Yea” both times on that bill when it came to the House. So here, we have a Congressman who voted in favor of a bill that ended up costing him, by my back of the envelope computation, nearly $100,000. I really can’t tell whether he saw it coming, but we should probably give him just a little credit for that.
Kent Hovind’s Big Splash In The Conecuh County Pond
Wedding Bells The big news in Hovind land this week, is Kent's upcoming nuptials with Mary Tocco and the resulting controversy since they are both divorced. I'm...
Can You Beat The IRS By Waiting Out The Ten Year Statute?
I’m not ready to recommend just not paying as a valid tax strategy. Remember for the ten-year statute to work for you, there has to be an assessment, which generally means you have to file. On the other hand, if you have an old liability kicking around and you are not getting any mail, there is probably not much point in trying to be proactive about it. If somebody calls you up and tells you you have to pay right away or you will be arrested, that is a scam. I think at this point, there may be more scam IRS collection people than real ones.
From a policy viewpoint, it seems clear that collections should be seriously beefed up. At this point, maybe Congress needs to make up a new agency and charge it with that duty so it can still punish the IRS without further eroding compliance. Remember Learned Hand’s words “taxes are enforced exactions”. With no enforcement, they become voluntary contribution
New York Strip Club Fights Tax Battle Using Scholars And Loses
By Yellowdune456 - Own work, CC BY-SA 4.0 Originally published on Forbes.com. Going to a strip club is not something that is edifying, but contemplating tax...
Freedom From Religion Foundation Has Clear Path To Challenge Clergy Housing Tax Break
For the most part though, defense of the clergy housing break is a great source of ecumenical spirit. In the last round of litigation there was an amicus brief in defense of the constitutionality of Section 107 that included among others The International Mission Board of the Southern Baptist Convention, The Greek Orthodox Metropolis of Chicago, The Islamic Center of Boca Raton, and The International Society of Krishna Consciousness.
Experts Comment On Tom Clancy Estate Litigation
Never, ever use a codicil. A Codicil requires just as much formality as does a will, and so the better practice is to sign an entirely new will rather than use a codicil. In this case, that fact that Tom Clancy revoked the prior will (with the language making the Family Trust taxable) and only had the language that makes it qualify for the marital deduction, there would be much less ambiguity. This is also true not only for technical corrections like this but also when you change your mind about bequests in a Will. For example, Aunt Mabel may make Nephew Phil very happy with a $10,000 gift under her new will, or very mad if she reduces a $50,000 gift under her prior will using a codicil.
Use models, and flow charts to illustrate what the plan should do when explaining the effects to the client. This case revolves around intent. If you could clearly illustrate the cash flow (and tax effect) of the revised language as explained to Clancy before he signed the new document, it is ancillary evidence of his intent in executing the document. Even though for you this is elementary math, for us medieval history majors, it is about as clear as mud. A picture is worth a thousand words (or a will contest).
Kent Hovind Has Conecuh County Editor Concerned
So now it is time to welcome a new member to the hearty band of Hovindologists, who to the puzzlement and sometimes chagrin of those near and dear to them follow the...