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Tax Notes is a portfolio of publications offered by Tax Analysts, a nonprofit tax publisher. It provides comprehensive and impartial coverage of tax news, while its commentary contributes important voices to the discussion and understanding of tax policy.
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My brother hates Trump and i asked him why. His only response was that Trump raised Tatiffs. Does that make any sense to yall? Sounds to me like they arent all that bad. I dont think my brother even knows what a tariff is. He's one of those wannabe communists who has never had a job and lives with his mom.
Kennedy has publicly disclosed his ownership of Bitcoin and acknowledged the possible concerns about a conflict of interest. He has also reiterated that his advocacy of Bitcoin does not come from a desire for personal gain, but rather from a deep understanding of the technology’s potential to bolster the US economy and serve as a highly flexible decentralized currency capable of protecting civil liberties while simultaneously putting the US in a position of international technological advantage and dominance.
...had me listening to 965 commentary...
I'm really new at this. Do I understand this correctly? If I own I stock that has appreciated but I have noy sold it, I will owe tax on the amount it has appreciated? If that is the case, what incentive is there to hold? Just sell everything at the end of the year? Do I not understand this correctly, please let me know.
well done. Informative & entertaining. I was worried about this case. I like the blue screen for each CHAPTER change
TY!!!!!
Fred T. Goldberg Jr. is a spineless coward. He gave the Church of Scientology tax exemption. This has allowed one of the worst cults in history to survive for decades.
This is a terrible decision! The Moore's did not receive any money. Their stock increased. Yet the US Government forces them to pay $15,000 without the benefit of them even receiving any money. Preposterous ruling. This is clearly a direct tax.
Sounds like crap to me!
So basically, the harder you work the more the warmongering useless congress wants to take, so we're forced into poverty right f this government
I would have liked a few more seconds of the clip, as I wasn't clear which way you were going with "FASB is not in the habit of being lobbied."
Thanks for watching! You can watch the full video here: kzread.info/dash/bejne/d4OsmM16Zs_Un5s.html
Good insights from Prof Lyla
A wonderful insight into an impending tax-rights war. Enjoyed the interview.
But it's so much fun to wallow in victimhood.
Lets gooooooo
George Washington said , the two party system will not work . Why do politicians vote the way the party wants them to vote instead of the way the people they represent want them to vote , if it is truly a government of the people for the people , why do we need two parties .
Reagan understood far, far more than any president since as to what America is all about!
We need someone who can talk like Ronald Reagan to bring this country back together again.
He could talk, but he was wrong. Poor people aren't angry at the wealthy because of envy. They don't care about being billionaires. They want to not have to struggle just to survive.
Yes you do. You absolutely do. It's getting really scary to see what's happening there in the USA.
The right wing attack on Chevron is only one of the hundreds of separate frontal assaults aimed at undermining the American way of life.
"I don't have all the answers but mine are suggestions and an invitation to more discourse." Well done Dr. Lyla keep up... AI is here we must use it as a tool to our advantage even in matters tax.
Abraham Lincoln said that labor is superior Capitol and should be taxed less than capital. But instead we have it ass backwards because of Ronald fucking Reagan And every jackass who loves the growing wealth gap And associated poverty.
Ummmmmm………. Sounds like bullsquat to me. Puts more tax burden on the people. The only “trickle down” from tax cuts for the rich is rich people piss. Calvin Coolidge, architect of the depression, succeeded by Herbert Hoover the man who pulled the trigger.
Do what? This makes no sense! How is it wise and correct to tax people their fair share? How does it create better conditions for everyone to be successful by taxing the wealthy their own fair share? I just will never understand this horseshit argument and nobody has ever said a word that contributes even mildly to it making any goddamn sense. Any jackass can see that the wealthy are reporting record profits, and at the same time, mass layoffs, firings, low wages, and so on... It is a clear fact that these massively profitable companies are not doing a fucking thing to contribute to the prosperity of others, only themselves. To be clear, if you applied for a job at Amazon, for example, at a given wage, then suck it up. That's what you agreed to. However, to say that these companies need tax breaks so garbage people like Bezos and the Waltons can have some infinite amount of money that they use for horseshit lobbying and fuckery is somehow enriching others... You're an idiot if you can not see the actual facts that are right in front of you. Blows my mind.
Trump 2024🎉
yes i support the upcoming imprisoment of Trump in 2024! put the orange one in an orange suit
Brain teaser for you. True or False (not a trick question). There is an income amount where generating additional income in long term gains would cause more tax than generating the same amount of additional income as short term capital gains or ordinary income.
The article is very well written. But it evades the biggest issue of all. That is the fact that the IRS has had literally unlimited funding since 1997 to detect tax evasion by the largest taxpayers: multinational corporations, so-called "private equity" partnerships, offshore hedge funds, and so-called "family offices" ("donor class taxpayers"). But IRS leadership decided immediately not to use this funding, because that would anger the providers of the best post-IRS private-sector employment opportunities for IRS employees: donor class taxpayers and their respective tax advisors at elite accounting and law firms (collectively, "prospective employers"). What's worse, since 2006, IRS leadership has been systematically BREAKING the law to BLOCK detection of large-scale tax abuses engineered by elite prospective employers. According to the article, the IRS has admitted that it is unable" to "fully represent noncompliance in some components of the tax system, particularly as they relate to corporate income tax, income from flow-through entities, foreign or illegal activities, and digital assets." IRS, “Federal Tax Compliance Research: Tax Gap Estimates for Tax Years 2014-2016” (2022); IR-2022-192 (announcing that the IRS had updated its tax gap estimates for 2014-2016). In other words the IRS does not know what it does not know about donor class tax evasion. Here is why this is entirely the fault of the IRS, and why additional IRS funding will inevitably be turned against taxpayers other than donor class taxpayers. *** This unlimited source of funding was 26 U.S.C. 7623 ("section 7623"), now commonly known as the 'tax whistleblower statute'. When enacted in 1997, section 7623 gave the IRS total discretion whether and how much to pay for confidential information regarding tax abuses, provided that the payments come out of enforcement collections made possible by the information provided. The IRS created what it called the Informants' Rewards Program (the "informant program"). Between 1997 and 2006, the IRS limited its informant program to paying small awards for documents that would enable the IRS to obtain easy collections from 'ordinary' taxpayers ... but not donor class taxpayers. In June 2006, the Treasury Inspector General for Tax Administration ("TIGTA") reported to Congress that the IRS was grossly abusing informants under the informant program. In December 2006, Congress re-designated section 7623 as section 7623(a) and allowed the informant program to operate as before under section 7623(a). Congress then created a new "whistleblower program" under new section 7623(b) that would apply ONLY to individuals who provided information regarding LARGE tax abuses (greater than $2 million, or $3 million in 2024 USD) (any such individual, who would generally be providing information regarding a donor class taxpayer, a "whistleblower"). Under the 2006 whistleblower law, Congress ORDERED the IRS to pay each whistleblower at least 15% of whatever the IRS ultimately collected from an audit issue that was opened "based on" his or her information. In plain English, if (i) a whistleblower filed "information" that credibly alleged that taxpayer A likely owed $2 million or more to the IRS due to tax abuse X identified and explained by the whistleblower, (ii) after having this information brought to its attention, the IRS opened an audit issue at taxpayer A regarding tax abuse X, and (iii) the IRS eventually collected proceeds from taxpayer A with respect to tax abuse X, then the IRS was required to pay at least 15% of the amount collected to the whistleblowers. As explained in comprehensive detail in two article published over the past year or so in Tax Notes Federal by Michael Humphreys, the IRS Office of Chief Counsel immediately went to work issuing 'guidance' that scrambled the language of section 7623(b) to prevent it from ever taking effect. At all times since December 2006, IRS leadership has issued guidance, made operational and budget decisions, issued regulations, and engaged in strategic litigation, usually against whistleblowers lacking legal representation, that has prevented section 7623(b) from ever taking effect. Whistleblowers were immediately abused. High-value filings stopped within a few years of the enactment of the law. That ended the most important source of information regarding donor class tax abuse. Which is why the IRS does not know what it does not know about donor class tax abuse. .
You know what, shut your face! If anyone needs to held accountable, it's TAX SPENDERS!
So billionaires not paying taxes for years on end are envious of doctors
The path forward sounds suspiciously like old 'avoir fiscal' system used by the French to hand out non refundable shareholder credit for corporate tax. Better start renegotiating tax treaties, because not granting it to foreign shareholders is in violation with the foreign ownership non-discrimination rules in article 24 of the treaties.
Aren’t you disincentivizing companies from issuing public shares in the long run as there will be a significant cost to buying back those shares? What’s the expected impact on competitiveness of US markets for companies to list here if you increase the buyback tax, as well?
There’s so much money on the table that business and industry will completely overwhelm and overrun federal agencies. The IRS and other agencies will win here and there, no doubt, but on the whole the dismantling of the administrative state continues.
Democrats🤷🏼. Still racist in 2024
Basic economics that you have to explain to an old man who should know better. Taxes on business are just passed to the consumer in the form of higher prices. We would be better if they laid no taxes because things would be more affordable. The less money our corrupt asshole politicians get ahold of, the better
OMG you couldn't be more wrong. You're so stupid I bet you think trump is smart
They wouldn't have had such a windfall if American investors found it profitable to invest in their own country. They don't. Further, if they had kept the tax rates as they were, governments wouldn't necessarily acquire all of the revenue from the taxes. Greater amounts of resources would be allocated towards avoiding or minimising taxes, and for the trickle that did come in, most of it would be spent on paying down public debt, funding useless wars and/or going into the pockets of rent seekers. I the short run, sure, foreign investors would have gained a windfall amount... of their own money. But in the long run, investment of all kinds would rise because the barriers to profitability would fall as a result of tax cuts.
'Promosm'
I'm long RFK JR 24 🙏🎉👑
I'm long RFK JR 24 🙏🎉👑
Nice try.
Any country that prints money beyond the growth h in the economy will shrink the value of its currency. That is exactly what Biden did!! Time to rethink the way be budget government spending!
All the things he stated, foreign wars, bank bail outs, and "quantative easing", all those things involve money given to corporations that use the money in the economy for foods and services that generate new money, those things can and will cause inflation down the line many years in the future, but the covid stimulus checks, those don't generate any new money, because there are no government contracts being paid into by that money. So yes, this video is lying to you.
What a liar
Very Interesting… wow this is a BIG ISSUE… oh my Goodness… wow I like this Idea and Pray it gets Implemented…to Protect our Environment ❤🙏🙏🙌🤗 Thank you All And Roberta Mann
Excellent! Also, producers will spend many millions of dollars to lobby legislatures; consumers don't have that luxury.
I'd probably take more than one... just in case.
Tax lawyers and advisors routinely run circles around the Service and Congress and are always several steps ahead. For every Liberty Global transaction which is caught on audit, a thousand others are missed. Thank you for the excellent analysis; exciting stuff!
RFK JR is currently Independent
Unfortunately no, most are not...
No, they don’t need guns. They already have the most deadly weapon in the world a pen
It’s an interesting short but the title and content are confusing and I can’t understand the point being made or how to put this in context. My guess is that issues in federal income taxation are not good topics for the KZread short format.
The Mexican cartels are collecting $Millions if not $Billions per year with their drug, human trafficking etc. activities and the IRS seems to be entirely uninterested. But, they need those guns when auditing U.S. taxpayers' 1040s, with the goal to extracting an average $600 per each of these super dangerous taxpayers.