Taxes

Marlene Nembhard Parker and Fabrizia Lapecorella discuss their partnership as the first co-chairs of the OECD inclusive framework on base erosion and profit shifting and speculate on the future of women leading international tax. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in

On March 28th, the Biden Administration issued a 250-page General Explanation of the administration’s fiscal year 2023 revenue proposals. Click this link the view the “Green Book” PDF. Well-advised taxpayers are already considering actions to take before these new proposals would become effective. Besides increasing the corporate income tax rate to 28% and long-term capital

Topline Sen. Joe Manchin (D-W.V.) said Tuesday he would not support President Joe Biden’s proposed “minimum tax on billionaires,” which would impose a 20% minimum tax on households worth over $100 million and would target unrealized gains, the second time in five months Manchin has opposed the administration’s efforts to realize a dramatic targeted tax

Today’s Social Security column addresses questions about how early retirement benefits can affect spousal benefits taken after full retirement age, whether earning $2 over the limit can disrupt disability benefits and being able to receive retirement benefits after survivor’s benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president

President Biden’s addiction to economy-killing taxes remains intense, as a new idea in his proposed budget unfortunately confirms. Biden’s latest scheme would hit rich people with a 20% minimum tax on both income and unrealized capital gains. Democrats figure that since the well-to-do aren’t popular, the tax idea would give beleaguered Democratic candidates a winning

Let’s talk about Rev. Proc. 2015-41, 2015-35 IRB 263. In case anyone has forgotten, this guidance provides details on the procedures for requesting and obtaining an advance pricing agreement from the IRS’s advance pricing and mutual agreement program. The scope of the guidance includes the processing of applications, negotiation of agreements, verification of compliance, and

Topline President Joe Biden on Monday released a $5.8 trillion budget proposal for the upcoming fiscal year packed with Democratic legislative priorities such as affordable housing and healthcare, in addition to what could be the nation’s first tax targeting billionaire wealth—setting the stage for months of negotiations as Congress works to approve a final spending

Everyone likes free stuff, no matter who they are, and the Academy Awards every year hands out pricey gifts. Maybe things are more austere this year, since a gift bag for top nominees in the past has been jam-packed and worth $205,000. This year, it’s a more svelte $140,000 worth of stuff, but that’s still

Today’s Social Security column addresses questions about how and when COLAs are applied, switching to spousal benefits after early retirement benefits and divorced survivor’s benefits before retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. Shouldn’t My Age 70 Benefit Estimate Increase

Although gasoline prices get most of the attention in reporting on inflation, there’s another element that’s pushed the numbers up—soaring rents for housing. And even if rent increases slow down, our affordable housing crisis will continue due to the lack of housing supply and persistent low incomes. The data are grim. The national real estate

A funny thing happened to the trillions of dollars of proposed tax increases on corporations and high-income households that were high on the agendas of President Biden and congressional Democrats just a year ago: They seem to have, at least for now, fallen into a deep Capitol Hill hole. And they’ve been replaced by, of

Tax Notes contributing editors Robert Goulder and Joseph J. Thorndike discuss whether inflation is a tax, all in five minutes. This transcript has been edited for length and clarity. Robert Goulder: Once upon a time, inflation was the scourge of our national economy, but that was way back in the 1970s. Since then, we’ve had

America’s metropolitan regions drive our productivity, wealth, and competitiveness, and as new federal funds flow into them, advocates want them to work together for greater prosperity. But regions will have to overcome their historical and deeply embedded political, economic, and racial conflicts. It’s striking how important metropolitan regions are to our economy. According to the

The IRS just recently picked up a win in its war on syndicated conservation easement (SCE) deductions. The Sixth Circuit confirmed the full Tax Court decision written by Judge Lauber in Oakbrook Land Holdings. The issue was about what terms are required to make an easement “perpetual”. Before getting into the pretty arcane points Judge

Tax Notes reporter Andrew Velarde discusses the tax structure dispute in Whirlpool v. Commissioner and the case’s future implications for multinational companies. 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 International. This week: legal maelstrom. There’s a

To the dismay of many practitioners and business trade groups, the foreign tax credit regulations issued in January (T.D. 9959) finalized what the 2020 proposed regulations (REG-101657-20) called the “jurisdictional nexus requirement” with only minor changes. Rebranded the “attribution requirement” by the final regulations, the controversial provisions prevent the creditability of foreign tax measures that

Too many people do their charitable giving backward. There’s a surge in interest in making contributions near the end of the year. That’s too bad. The benefits of charitable gifts often are maximized when you think about gifts early in the year and throughout the year. That way you maximize deductions and impact plus you

The complexities of the UK’s indirect tax landscape can be challenging for US trading partners to deal with owing to a lack of familiarity with the rules and requirements. Additionally, the UK’s departure from the EU at the end of January 2020 has resulted in new tax rules impacting cross-border trade. This article sets-out VAT

The IRS has just issued a reminder to taxpayers that there is a virtual currency question at the top of tax returns you’ll be filing for 2021. The seemingly innocuous question is on Form 1040, Form 1040-SR and Form 1040-NR. It asks: “At any time during 2021, did you receive, sell, exchange, or otherwise dispose

Today’s Social Security column addresses questions about how taking early retirement benefits can affect later spousal benefits, effects of the January 2022 COLA on benefits taken later and whether retirement benefits at 70 are required. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc.