Taxes

Steve Rosenthal of the Urban-Brookings Tax Policy Center reviews the GOP tax package approved by the House Ways and Means Committee, specifically the proposed individual and business tax cuts. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today

Antawn Jamal Sanders has probably set a record although he is not likely pleased. How close can you get to having a Tax Court petition be timely, but still have it be late? Mr. Sanders missed by 11 seconds, maybe 9 seconds depending on how you look at it. Or maybe we could say a

The Supreme Court has added a new tax case to its docket for the 2023-24 term: Moore v. United States. As a result, the Court will consider whether a relatively new tax—the “mandatory repatriation tax”—created under a provision of the 2017 Tax Cuts and Jobs Act is unconstitutional under the Sixteenth Amendment. The case could

U.N. Secretary-General António Guterres is expected to release a much-anticipated report on international tax cooperation within a few weeks. As the international tax community waits — and speculates — on what that report might say, the secretary-general recently offered a small hint. At the end of May he released a report calling for a new

Falling into the Senior Accounting Officer regime for the first time The Senior Accounting Officer (SAO) regime forms a key part of any large UK business’s tax governance and risk management framework. While SAO is ultimately a compliance requirement – and penalties may be imposed on both SAOs and companies who fail to comply –

IRS funding is back in the news. Less than a month after a debt ceiling agreement that would claw back some of the IRS funding previously authorized by the Inflation Reduction Act of 2022 (IRA), a bill is back in the House to reduce the agency’s funding even more. The bill would also impose various

Every Friday night, my family celebrates cheese night. Okay, celebrate might be a strong word. But for the last few years, we’ve designated Fridays as cheese nights. At the end of a long week, it’s nice to put out a spread of fruits and vegetables, olives and pickles, bread, and, of course, cheese. While any

As part of the Inflation Reduction Act (“IRA”) passed in August of 2022, $391 billion of governmental funding was allocated to energy and climate initiatives. The ability to transfer (i.e. sell) clean energy credits was part of the new legislation and covered under IRC Section 6418. The intent of IRC Section 6418, was to increase

The tax treatment of legal settlements and judgments depends on the claims, whether the case settles or goes to judgment, how checks and IRS Forms 1099 are issued and more. The same tax rules apply to settlements and judgments, but you have more flexibility to reduce taxes when a case settles. If you sue for

“What a difference a year makes!” That’s how National Taxpayer Advocate (NTA) Erin M. Collins kicked off the preface to her midyear report to Congress. That difference, Collins reported, was positive. She noted, “In submitting this report, I’m finally able to deliver some good news: The taxpayer experience vastly improved during the 2023 filing season.”