Taxes

Over the past couple of weeks, the IRS has been rolling out its list of tax scams for 2023. Now that the IRS annual Dirty Dozen campaign has wrapped, here’s a look at what taxpayers should watch out for this year. Dirty Dozen The “Dirty Dozen” is an annual list of common scams taxpayers may

Proposed regulations for the electric vehicle tax credit, long overdue, are finally out (REG-120080-22). That checks one of the many clean energy guidance projects off the list from the Inflation Reduction Act (IRA, P.L. 117-169), but there are still plenty more to go, including guidance on the direct pay provision in section 6417. Direct pay

April 7 marks the day that beer was allowed to be legally manufactured and sold following a long, dry Prohibition. On March 22, 1933, President Franklin Roosevelt signed the Cullen–Harrison Act into law, which moved the US away from Prohibition by allowing the manufacture and sale of beer that was approximately 4% alcohol by volume

A short grantor trust walks into a bar. After a few too many drinks he starts flirting with a pretty beneficiary, promising her a step up in his assets. But before he seals the deal, the bartender pulls the stool out from under him, shouting, “Get out! You’ve got no basis stepping up here.” “Based

Thought you wanted to be a millionaire? The “Billionaire Tax” might cause you to reconsider. All American earners are subject to federal income taxes, but not everyone is subject to the same tax rate. While middle-class Americans pay, on average, roughly 14% in federal taxes annually, the wealthiest American families frequently use loopholes to avoid

The United States has a long and complex history with guns dating all the way back to colonial times. There is continuous debate surrounding the rights to gun ownership and what regulations should or should not be implemented. Ratified in 1791, The Second Amendment to the United States Constitution, guarantees the right to keep and

Robert Goulder of Tax Notes and professor Mitchell Franklin of the Le Moyne College Madden School of Business discuss college sports programs’ not-for-profit status in light of compensation for name, image, and likeness rights. This transcript has been edited for length and clarity. Robert Goulder: Welcome to the latest edition of In the Pages. I’m

The IRS has released its strategic operating plan for spending $80 billion in extra funding over the next decade. Here’s a look at what it does—and doesn’t—include. What’s Not Included When flipping through what the IRS calls an “ambitious effort to transform the tax agency and dramatically improve service to taxpayers and the nation during

So I spent a couple of hours, that I will never get back, watching coverage of the arraignment of our once and aspiring future President Donald Trump. Sensible tax oriented CPAs were probably for the most part more productively occupied what with that deadline coming up in a couple of weeks. The most interesting thing

Today’s Social Security column addresses questions about how earning less money before filing can affect benefit rates, how survivor benefits are calculated if the record holder had not yet filed and whether or not to suspend a benefit at FRA. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president