In her latest report to Congress , IRS Taxpayer Advocate Nina Olson made the provocative suggestion that her agency completely rethink its mission: “It should transform itself as a tax agency from one that is designed around nabbing the small percentage of the population that actively evades tax to
Is the IRS such a mess that the nation’s system of voluntary tax compliance is at risk? Will frustrated taxpayers rebel because they can’t get help with a revenue code they can’t understand? Will aggressive taxpayers who recognize that audit rates have plummeted to the lowest levels in years
The massive 2015 spending bill that President Obama is likely to sign this week continues an ongoing effort to trash the Internal Revenue Service. It is a cynical recipe for a self-fulfilling disaster: Give the agency more and more work. Cut its budget. Blame it for failing to do its job. Repeat.
Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then. Stranger than fiction: The IRS, “structuring,” and asset seizures. A business’ cash deposits, if under $10,000, do not trigger a government reporting requirement. But that could look like “
On the Hill, a vote on internet tax freedom. The House Judiciary Committee expects to mark up a bill to prevent states and cities from taxing internet access tomorrow. The “ Permanent Internet Tax Freedom Act ” has bipartisan support in both the House and Senate. State and local internet taxes have
This week: The House will vote on tax extenders. In his June policy memo to House Republicans, Majority Leader Eric Cantor notes that there will be votes on three tax extender bills this week. The bills would make permanent (1) small business expensing of up to $500,000 in qualifying equipment per