Taxes

Robert Goulder of Tax Notes and Reuven Avi-Yonah of the University of Michigan Law School discuss the potential issues in the latest international tax proposals spearheaded by Senate Finance Committee Chair Ron Wyden, D-Ore. Here are a few highlights from their discussion, edited for length and clarity. Robert Goulder: Welcome to the September edition of In The Pages.

A San Francisco jury ruled that Tesla TSLA must pay $137 million in a workplace racism case in which a Black man alleged that he endured racist abuse while working at Tesla’s Fremont California plant. Owen Diaz alleged that he suffered racist remarks and abuse causing him sleepless nights, weight loss, and loss of appetite.

The new WikiLeaks style disclosures and “revelations” about offshore and domestic “secret trust” arrangements will reveal a great many legitimate and perfectly legal family planning arrangements that are commonly established for non-tax purposes by U.S. and non-U.S. taxpayers. The Asset Protection Trust It is perfectly legal and the right of any U.S. taxpayer to establish

           The House reported out the “Build Back Better Act” late last month, closely following the proposed tax law changes by Senators Sanders and Van Hollen. Each makes somewhat different proposals, and the Act is far from finalized, what is clear is that any of these proposals, if enacted, will have significant impact on not only future

Fast-growing private companies rely heavily on equity compensation to recruit, motivate, and retain the best employees. Grants are typically stock options, restricted stock, or restricted stock units (RSUs). However, stock comp in private companies is surprisingly more complex and varied than what’s commonly used in mature public companies. The many challenges range from the inability

A perplexing attribute of the U.S. tax system is that successive reform efforts tend to layer new regimes on top of old ones without bothering to repeal the latter. It’s as if retention of the older regimes provides a sense of security, regardless of how out-of-date or flawed they might be. Familiarity brings comfort. Familiarity

October 2021 Experience has shown that many organizations are struggling with the changes arising from Brexit to the process for bringing goods to the UK, the consequent requirements for customs declarations, and paying and reclaiming import VAT. Frequently, businesses are unsure whether they have paid import VAT and, if so, how it is to be

When it comes to taxes, most people think about the IRS. But if you live or do business in California, state taxes are a big piece of what you pay. California does a good job of aggressively drawing people into its tax net of high individual (13.3 percent) and business (8.84 percent) tax rates. Add

If Congress fails to suspend or raise the national debt limit, it would have a trickle-down effect that could put nearly a quarter of state spending at risk. A new report by the progressive-leaning Center on Budget and Policy Priorities (CBPP) says that such an event would likely mean the federal government would have to

One of the most exciting provisions of the Build Back Better Act, to me anyway, is the opportunity that it gives for a tax free conversion to partnership for some S corporations.  There may be some people who don’t find this exciting thinking that partnerships and S corporations are both flow-through, so it is six

All major provisions of the House Ways & Means Committee’s budget reconciliation tax bill would cut 2022 taxes on average for households making $200,000 or less. At the same time, the bill would raise taxes substantially for those making $1 million or more, according to a new analysis by the Tax Policy Center. The bill’s

Earlier this month, California Governor Gavin Newsom signed three laws meant to encourage more housing construction and supply, allowing some overriding of local zoning policies in order to get more affordable and racially equitable housing.  But the state’s dramatic intervention probably won’t be enough to overcome decades of anti-housing policies and practices, driven by existing homeowners who

It’s been just three short years since cannabis was legalized in Canada, but it’s already clear the nation’s exorbitant taxation on cannabis cultivators is not only unsustainable; it’s killing craft growers that are paying more in tax than they earn in margins. Earlier this month, Tantalus Labs CEO Dan Sutton outlined exactly how problematic Canada’s cannabis excise

These days, the IRS and Justice Department seem more intent on nabbing crypto tax dollars than owners of still secret offshore accounts. The land rush of offshore account cases started in 2008 and went on for over 10 years. But there are still secret ones out there it seems, and when the feds find them,

While the first draft of the reconciliation legislation didn’t include Biden’s proposal to eliminate the tax-free basis step-up, which included a $1 million per-person exclusion (in addition to the current capital gain exclusion for a principal residence) and exceptions for family-owned business such as farms, many voices have echoed this sentiment from The Wall Street Journal’s September 17 story, “Democrats Seek

The recently released final text of the reconciliation bill (SEC.138151) intends to subject cryptocurrency to a complex tax rule called, constructive sales. Under this proposed rule which could go into effect on January 1, 2022, cryptocurrency users could incur taxes without even selling their crypto positions.  What is a Constructive Sale? Before we talk about

Today’s column addresses questions about the earnings test and independent contractors, whether early reductions to disabled widow’s benefits are permanent and the possibility of taking spousal benefits only after early retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask

Professors Bridget J. Crawford of the Pace University School of Law and Anthony C. Infanti of the University of Pittsburgh School of Law discuss viewing the U.S. tax code through a feminist lens. 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

Congress is debating a sharp increase in the corporate tax rate as well as other business levies this week. The Biden Administration claims only big corporations will have to fork over more cash. This episode of What’s Ahead shows how that assertion is nonsense. A ton of economic research over the years has found that

After California Governor Gavin Newsom triumphed in the recall election, he signed three controversial bills meant to increase house building and supply.  The bills limit local zoning control and override some local powers that are used to block affordable housing projects.  Will these provisions help solve California’s deep housing affordability crisis? There’s no question about California’s crisis.  In August, the median