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May 4, 2016 - 8:53 AM EDT
When Social Politics and Tax Policies Mix
by David Brunori
Recent events in Tennessee illustrate the danger of mixing social politics and tax policies. Sometimes it gets, well, ugly.
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May 3, 2016 - 8:25 AM EDT
Luxembourg Is Prosecuting the Wrong People
by Stuart Gibson
Because of the LuxLeaks scandal, the world knows that Luxembourg granted secret tax rulings to about 340 multinational clients of global accounting firm PwC. The leaks caused Europe to revamp its entire tax ruling regime, increasing transparency accordingly.
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May 2, 2016 - 12:06 PM EDT
The Least Important Part of Corporate Tax Reform Might Be the Rate
by Jeremy Scott
There is growing pressure around the world for major changes to corporate tax policy. The OECD's base erosion and profit-shifting project, and the pressures that drove the G-20 to push for action in the first place, is forcing governments to reexamine everything from transfer pricing to tax enforcement. But in the United States, the BEPS project seems to have only motivated lawmakers to moan about foreign countries targeting U.S. multinationals, leading to calls for the United States to address its high corporate tax rate.
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April 29, 2016 - 10:44 AM EDT
The Only Thing Certain in Life Is Death —Taxes, Not So Much
by Joseph J. Thorndike
Since 1960, Congress has enacted 66 major tax laws. At more than one major law per year, that makes for a pretty good clip – and a lot of uncertainty.
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April 28, 2016 - 11:31 AM EDT
The Question of Apportionability Has No Easy Answer
by Cara Griffith
Few terms in state and local tax are more of a misnomer than “nonbusiness income.” It’s as if nonbusiness income would have no relationship to a business. In reality, though, nonbusiness income is part of a business’s total income; it is simply not apportionable income. Thankfully, many states and the Multistate Tax Compact now refer to business income as apportionable income and nonbusiness income as non-apportionable income. While that provides some clarity, the underlying definitions – and how states apply them – leave much to be desired.
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April 12, 2016 - 1:27 PM EDT
Snitching on Your Friends’ Offshore Accounts Might Yield Only Enemies, Not Rewards
by Ajay Gupta
In amending the whistleblower statute and establishing a mandatory award in 2006, Congress evidently sought to provide greater incentives for whistleblowers by promising them more certain payments. But the statutory text does not seem to have anticipated FBAR penalties. That, combined with the subsequent delegation of administering the FBAR regime to the IRS, means that whistleblower awards largely continue to remain acts of administrative grace.
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March 17, 2016 - 11:31 AM EDT
Beware the Slayer of Tax Reform Fantasy
by Robert Goulder
Bodacious fantasy was in ample supply on Capitol Hill earlier this month, at a House Ways and Means Committee hearing on corporate tax reform. As important as tax reform is, we really don’t need further congressional hearings on it. Talk therapy won’t help. Everyone in Washington already knows what grown-up tax reform will look like. It looks like the Dave Camp bill.
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September 21, 2015 - 9:21 AM EDT
Donald Buffett?
by Martin A. Sullivan
Two outspoken billionaires at opposite ends of the political spectrum reach the same conclusion.
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July 24, 2015 - 10:12 AM EDT
Donald Trump Is Contagious!
by Christopher Bergin
I’ve predicted that it will take two years to start a serious discussion of reforming the tax laws and the agency that administers them. After watching Rand Paul’s latest video, I’ve pushed that back a decade.
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July 11, 2014 - 9:39 AM EDT
International Tax Trending
by Mindy Herzfeld
This week’s international tax highlights include Jean-Claude Juncker’s agenda for EU tax policy, changes in the IRS’ international administration, and continued assertiveness by the U.S. and other governments in pursuing tax evasion while BEPS goes into sleep mode.
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