For the Press

Tax Analysts' stories, writers and other key staff are regularly mentioned throughout the media. Find out who is talking about us here.

December 31, 2016

100 Must-Follow Tax Twitter Accounts for 2017

Both @TaxAnalysts and @MariaKoklanaris made the list.
December 22, 2016

Colorado's Use Tax Notification Statute May Become Model for Other States

According to State Tax Today, the MTC could adopt the model statute at its annual meeting, and at least three states may be considering adding use tax notification requirements to their statutes. 
December 15, 2016

No give on the border (adjustability)

IRS Commissioner John Koskinen sat down with Tax Analysts recently, and dropped some pretty interesting tidbits — his meeting with the Trump transition team, for instance, didn’t touch on whether he’d finish his term. (He added that he’d step aside if Trump asked him to, but that he thinks it’s best for the agency if he serves until his term expires in November.)
December 1, 2016

Mnuchin outlines 'largest tax change since Reagan'

Slashing the corporate tax rate and allowing businesses to expense capital investments in the year they're made could make 3% to 4% GDP growth "a reasonable goal," said Robert Goulder, senior tax policy counsel for Tax Analysts, a non-partisan publisher focused on tax policy and administration.
November 30, 2016

Fresh blood

But Marty Sullivan of Tax Analysts is pretty sure that the use of tax credits floated by Trump advisers Peter Navarro and Wilbur Ross would be a bad idea, calling it potentially “one of the most generous tax shelters of all time.” Under the plan proposed by Navarro and Ross (who is Trump's pick for Commerce secretary), roughly one-sixth of infrastructure investments would be paid for with equity, and the rest with debt. People holding the equity would get an 82 percent tax credit on their payments, which Sullivan wrote could yield a long-term effective tax rate of minus 113 percent tax. “Needless to say, this approach is entirely inconsistent with the loophole-closing approach to tax reform,” Sullivan wrote. “Nor is it clear why it is particularly good infrastructure policy.”
November 29, 2016

Thanks to Nixon, President Trump’s taxes will be audited automatically every year

“The returns are protected by law,” said Joe Thorndike, a tax historian who runs the website and has tracked four decades of tax returns of presidential candidates and sitting presidents. “He’s not required to release anything so we have to rely on the agency.”
November 28, 2016

Weighing in on a Corporate Tax Cut and Trump’s Cap on Itemized Deductions

A spokesperson for the Treasury Inspector General for Tax Administration said that since the indictment of dozens involved in Indian call center scams, “reports of these fraudulent calls have dropped significantly, from a high of over 38,000 new reports a week to just over 2,000 reports of fraudulent calls to TIGTA last week." Tax Analysts reports (paywall) that it is unclear that the indictment alone contributed to the drop.
November 21, 2016

Setting the deck for 2017

The problem? Tax Analysts notes that the agency was saying as recently as June that an increase in that same figure was also a sign of success. IRS Commissioner John Koskinen “acknowledged the potential appearance that the IRS tried to have it both ways, but emphasized that a new trend came into focus after the June estimate,” Luca Gattoni-Celli writes.
November 18, 2016

The Deficit Matters, but Don’t Lose Sight of Other Priorities

Respected economist Martin Sullivan in an October 31, 2016 article in Tax Notes (subscription required) observed that according to the “most recent Congressional Budget Office projections, by 2024 the federal deficit will reach $1 trillion on its way to $1.24 trillion in 2026.”  Still Sullivan was not in favor of “slam[ming] on the fiscal brakes” immediately.
November 17, 2016

Lunch links: Mileage Vs. Gas Tax Experiment Begins in Colorado; Recounts Coming in Maine on Marijuana and Income Tax; Rhode Island Considers Catching Up with Neighbor States on Marijuana Legalization

Rhode Island Eyes Marijuana Legalization and Taxation: With nearby Maine and Massachusetts moving forward on legal marijuana, Rhode Island is considering catching up by passing legislation in 2017. (State Tax Notes)
November 15, 2016

Donald Trump’s Complex Businesses Bring Potential Conflicts of Interest

Disclosing tax returns “was always legally optional, but now it seems to be politically optional as well,” said Joe Thorndike, a historian at Tax Analysts, a nonprofit publisher. “I don’t see any reason at this point that Trump’s going to be any more inclined to release his returns.”
November 15, 2016

No quit yet

According to Marie Sapirie of Tax Analysts, it’s definitely the latter. “The history of regulatory projects under section 385 suggests that unwinding the final rules may not be that difficult,” she writes.
November 11, 2016

Trump’s Taxes to Stay Under Audit, But Will Public See Them?

Joseph Thorndike, a tax historian who writes about presidents’ taxes for the trade publication Tax Analysts, said a lack of disclosure would mean the public will simply have to have faith in its tax agency.
November 10, 2016

Buckle your seatbelts, it’s tax reform time

And given that Trump resisted pressure to release his returns as a candidate this year, breaking with some four decades of bipartisan precedent, it’s hard to see him changing his mind now and making returns public. “He’s already shown that he’s not moved by the argument over political tradition,” Joe Thorndike of Tax Analysts, an expert on presidents and their taxes, told Morning Tax. “I can’t imagine why we’d expect anything different.”
November 1, 2016

Trump tax maneuver was edgy, not unique

“People were taking very aggressive positions,” said Lee Sheppard, an editor at Tax Notes. “But is he the only one? Oh, hell no. He was just the most visible one."
October 31, 2016

Donald Trump Used Legally Dubious Method to Avoid Paying Taxes

“The fiction is that the partnership interest has the same value as the debt,” he said. Lee A. Sheppard, a contributing editor to Tax Notes, wrote in 1991 that trying to find a legal justification for this tactic was akin to proving “the existence of the Loch Ness monster.”
October 27, 2016

Court upholds licenses suspension for back taxes

Cara Griffith, editor-in-chief and vice president at Tax Analysts, a not-for-profit publisher of tax-related information, said the case sounded strange. And she has long questioned the practice, embraced by several states, of linking driver's licenses to tax payments.
October 27, 2016

Lunch Links: Sen. Blumenthal Calls for Simplifying Tax on Business Travelers; Massachusetts Girding for 2018 Income Tax Boost; Maryland Legislators Warned about Revenue Gap

Senator Calls for Passage of Mobile Workforce Bill: Sen. Richard Blumenthal (D-CT) says it’s time for a federal framework for when states can tax business travelers who spend only a few days in a particular state. The bill passed the House on September 21 but New York’s senators have stalled it in the Senate. (Tax Analysts)
October 27, 2016

Trump's strategy to cut property taxes -- his own

Tax expert Lee Sheppard says this is how big property owners do business. "Everyone with a big commercial building does that. Everyone," Sheppard told CNN. "I mean this is how the system works."
October 26, 2016

The 2017 prospects

(It’s now at $91 million.) Lee Sheppard of Tax Analysts told CNN that Trump’s efforts were basically standard operating procedure, and remember this: Trump’s been pretty honest about saying he pays as little tax as he legally can.
October 26, 2016

Health Law Tax Penalty? I’ll Take It, Millions Say

“The penalty for violating the individual mandate has not been very effective,” said Joseph J. Thorndike, the director of the tax history project at Tax Analysts, a nonprofit publisher of tax information. “If it were effective, we would have higher enrollment, and the population buying policies in the insurance exchange would be healthier and younger.”
October 20, 2016

Live fact-check of the third presidential debate

The last presidential candidate to not release his tax returns was Gerald Ford in 1976, according to the Tax History Project.
October 19, 2016

US analysis: What treasurers can expect from Clinton or Trump

In the June 2016 edition of GTNews’ Global Treasury Briefing, Mindy Herzfeld, contributing editor at Tax Analysts and formerly a senior manager at Deloitte Tax was quoted as follows; “Free trade, lower taxes, and no tariffs have been core to Republican ideology for decades. Trump is rejecting all that, and much of the Republican base seems to be buying into his views.”
October 18, 2016

Lunch Links: Could Trump Have Filed a Tax Return Yesterday? Schumer Hints at Corporate Tax Cut; Internet Sales Tax Seems a Low Priority; French "Solidarity Tax" Being Reconsidered

Sales Tax Streamliners Glum about Congressional Action: At their annual meeting in Atlanta, members of the Streamlined Sales Tax Governing Board said action on Internet sales tax seems to be a low priority for congressional leadership. States are busily enacting their own rules in the absence of federal action. (Tax Analysts)
October 17, 2016

What’s next on 385?

And wouldn’t you know it, there’s a couple of quotes from Tax Notes that suggest there’s a lot more to come. "There are a lot of people in the business community that think it's their God-given right to be able to manufacture deductions at will everywhere in the world, and they were offended that we would dare challenge that,” said Robert Stack, Treasury’s deputy assistant secretary for international tax affairs.
October 7, 2016

Want a tax break like Trump’s? Good luck with that

Can ordinary people claim losses in one year in order to trim their tax bills in the future? Legitimate business owners can, but most taxpayers have no such option. “The law puts a very high hurdle on regular folks with salaries doing things they say are a business,” say Lee Sheppard, contributing editor at Tax Analysts. “There are certain parts of the law the IRS polices, and this is one of them.”
October 6, 2016

The Unintended Tax Loophole That Might Have Saved Donald Trump Big Bucks

Lee A. Sheppard of Tax Analysts has come up with an interesting theory as to how Donald Trump might have been able to use an unintended quirk in the Internal Revenue Code to have a nice tax cake while eating it too.
October 5, 2016

Tim Kaine correctly notes Richard Nixon released tax returns despite audit

Reports had surfaced that Nixon had been paying a small amount of federal tax for several years, Joseph J. Thorndike, a historian at Tax Analysts told us in August. To quell lingering concerns, Nixon released tax returns to the public as well as to the Joint Committee on Taxation.
October 5, 2016

Here's the best theory we've seen of how Trump paid so little tax

According to a Tuesday column by Lee Sheppard in the tax industry publication Tax Notes, Trump may have benefited greatly in the 1990s from a tax loophole related to forgiven debts — a loophole that would have allowed him to deduct business losses on his personal income tax return, even if those losses were actually borne by banks that loaned Trump money and never got it back.
October 5, 2016

Would Trump stop Trump?

Tax lawyers just held a big confab in Boston, and, not surprisingly, it was rife with speculation about just what the Treasury Department’s final Section 385 rules might contain. Tax Analysts sifted through some of the unanswered questions and predictions now that Treasury has sent final rules to the White House, including whether the department would only finalize part of the extensive anti-inversion rules it rolled out in April.
October 3, 2016

More than 1.2 million taxpayers deduct their business losses

Their trading losses wiped out all their other income," said Joseph Thorndike, director of the Tax History Project at Tax Analysts. "People were scandalized by that fact, even though it was all 'perfectly legal' ... a phrase that was as popular then as it is now."
October 3, 2016

Sifting through the Trump aftermath

But with the administration hurrying to get those regulations out, Tax Notes reports that those pass-throughs probably shouldn’t be expecting any specific carve-outs when the rules go final.
October 2, 2016

Five Questions About Trump's Tax Returns

"He could have had a billion-dollar gain the following year," said Marty Sullivan, chief economist at the nonpartisan Tax Analysts. "You need more than a snapshot to adequately assess Donald Trump's tax situation. It's a lot of smoke and no fire," he said. 
October 2, 2016

How Donald Trump Would Be Able To Not Pay Income Taxes For 18 Years

"Here's the magic of real estate," says Lee Sheppard, contributing editor of Tax Notes, a Washington-based journal. "Congress, which writes the tax laws, affirmatively subsidizes commercial real estate through the mechanism of the tax code."
October 1, 2016

Bombshell report on Trump taxes sends GOP nominee reeling

Joe Thorndike, director of the Tax History Project at Tax Analysts, said: “Obviously, the optics are less than ideal from a political standpoint. But on its face, using losses to offset gains is routine and uncontroversial. In fact, it's part of what makes the income tax work as well as it does.”
September 28, 2016

Is Donald Trump the only major-party nominee in 40 years not to release his tax returns?

Joe Thorndike, the Tax History Project director at Tax Analysts, told us that Ford’s summaries were clearly not the same as tax returns. For instance, they didn’t provide detailed information on things such as sources of income and charitable contributions.
September 28, 2016

Debating the VAT and the border

The Treasury Department, perhaps not surprisingly, is giving different impressions to different audiences on the next steps for the Section 385 rules, Tax Analysts’ Lee Sheppard reports.
September 27, 2016

So much tax talk

Rep. Bill Pascrell of New Jersey, a Democratic tax writer, is planning to introduce legislation that would be similar to the House GOP’s plan to tax imports, but not exports, according to Tax Analysts’ Dylan Moroses.
September 26, 2016

Hillary Clinton questioned whether Donald Trump 'owes about $650 million to Wall Street or foreign banks' — here's the backstory

Aside from skepticism and controversy over Trump's net worth and debts, the nominee has recently come under fire for refusing to release his tax returns. Most Republican nominees over the past several decades have released the same information, according to the Tax History Project.
September 21, 2016

This is why Donald Trump’s tax returns haven’t been leaked

“If someone were to release the returns right now, they might be able to change the outcome of the election,” said Joseph Thorndike, a tax historian and director of the nonpartisan Tax History Project at the Tax Analysts organization. “It’s a very tempting prospect.”
September 21, 2016

Lunch Links: Speaker Ryan Lays Out Vision for Tax Reform; Compromise Part of Latest New Jersey Tax Proposal; Pennsylvania Legislators Target Reduction of 40 Percent E-Cigarette Tax; Rundown of Marijuana Ballot Propositions in Five States

Maria Koklanaris of Tax Analysts does a deep-dive and finds that huge unfunded bills for state public employee pensions would require incredible tax increases. Officials in Illinois and Pennsylvania are already pushing for them. (Tax Analysts)
September 20, 2016

Getting spirited with Margrethe Vestager

Tax Analysts’ Marty Sullivan suggests that lawmakers will come around on a credit-invoice value added tax.
September 20, 2016

Lunch Links: California Public Employee Pension Substantially Underfunded; Nevada Voters Poll 'No' to Stadium Tax; Court Ruling Means Exelon Underpaid Taxes

Gov. Phil Scott (R), in a competitive race for governor against former state Transportation Secretary Sue Minter (D), says he wants to incrementally reduce individual and corporate tax rates as revenues permit. But he also wants to restore the state’s tax subsidy to film producers, which expired in 2011. Minter says she wants a carbon tax. (State Tax Notes)
September 15, 2016

Shadow candidates: Who’s more transparent, Clinton or Trump?

Presidential nominees aren’t required to publicly release their income tax returns, but almost all do, according to the Tax History Project.
September 12, 2016

Strengthening the Indispensable U.S. Corporate Tax

(Foreign multinationals are less subject to the limits of current earnings stripping rules.) Marty Sullivan, the chief economist at Tax Analysts, a non-profit organization, has cataloged many previous proposals to tighten these rules.
September 9, 2016

More chatting on 385

And yes, Republicans still think it’s lived far too long. Tax Analysts’ Joe Thorndike gave the estate tax a biography of sorts, which included some nuggets that might seem surprising given the current debate over the tax. Among them: Not only was there bipartisan support for the tax back in 1916, it was actually enacted without much controversy and seen as a natural compromise — “a way to satisfy popular demand for progressive tax reform without relying too heavily on the highly controversial income tax,” as Thorndike puts it.
September 7, 2016

Donald Trump says his financial disclosures more than make up for lack of releasing tax returns

As we have previously noted, Tax Analysts, a publisher specializing in tax policy, has been collecting publicly available tax returns of presidential candidates and other top officials for its Tax History Project. This archive goes back as far as the 1913 tax returns of future president Franklin D. Roosevelt.
September 7, 2016

Apple’s Tax Avoidance Illustrates Gap Between Law and Economics

Tax rules are so subjective, says Martin Sullivan,​chief economist at the nonprofit advisory Tax Analysts, that a company can claim to follow the rules yet pay a rate that “everyone else looks at and says is crazy.”
September 7, 2016

Why Trump owes it to voters to release his tax returns

"These bits of information are important, putting hard data behind a candidate's breezy claims to probity, generosity, and honesty," wrote tax historian Joseph Thorndike.
September 6, 2016

Back Taxes, Tax Changes, and Dynamic Scoring

On the Hill… Tax Analysts reports that September should be a busy month for the House Way & Means Committee.
September 2, 2016

Kaine Muffs Trump-Nixon Comparison

That was about half of Nixon’s net worth at the time, Joseph J. Thorndike, a historian at Tax Analysts, told us in a phone interview.
August 12, 2016

How do you write the rules?

Tax Notes’ Stephen Cooper surveys the scene for potential tax legislation this year, and finds a chance for the post-election session — maybe.
August 12, 2016

The Clintons pay a ton in taxes. Here's why

The Clintons employ relatively few tax dodges. “There are no tricks or gimmicks here,” says Stuart Gibson, editor of the weekly publication Tax Notes International. “These are white-bread returns.” The Clintons earn nearly all of their income from working rather than from investments, which leaves few options for exploiting the many tax loopholes that other wealthy taxpayers use.
August 3, 2016

Nixon's failed effort to withhold his tax returns

Later on, things unraveled. The best account of Nixon's tax travails comes from the historian Joseph Thorndike. Thanks to a deposition in a civil suit connected to the Watergate burglary in 1973, reporters learned that Nixon had taken a rather unusual tax break in 1969.
July 28, 2016

Dem convention speeches Day 3: CNN's Reality Check Team vets the claims

In 2012, when pressure was on Mitt Romney to release his tax returns, Joseph Thorndike of the Tax History Project at Tax Analysts traced the origins of this tradition to Richard Nixon's campaign speech in 1952, when he was Dwight Eisenhower's vice presidential nominee.
July 27, 2016

What Trump's tax returns could reveal about Russia

"You'll learn a little bit more, but you won't see any direct dealings with Russian oligarchs," said Jeremy Scott, editor in chief of commentary at Tax Analysts and a federal tax expert. "Russians like Cyprus. If he's buds with Putin, maybe he keeps some money in Cyprus," said Martin Sullivan, a Tax Analysts contributing editor.
July 22, 2016

Trump’s tax pitch

“For a tax nerd, it's a dream job,” Fleischer told Tax Notes in an email about his new gig as co-chief tax counsel for Senate Finance Democrats.
July 20, 2016

Lunch Links: IRS Punishes Whistleblower; Hawaii to Evaluate Tax Credits; Greece Using Cash-Sniffing Dogs

Some say releasing the returns would just fall into a trap set by naysayers and critics, while others say strange he hasn’t and that it’s vital for transparency. Potential VP candidates had to give the campaign 12 years of tax returns. (Tax Analysts)
July 20, 2016

Softening the blunt instrument

Tax Analysts’ Lee Sheppard and Amy Elliott report that Stack expanded on those thoughts at a conference in New York over the weekend, laying out four areas where the rules might have gone too far — cash pooling, foreign-to-foreign intragroup loans, the impact on banks and the impact on S corporations.
July 19, 2016

What does that platform say?

Kat Lucero of Tax Notes caught that the Senate cleared a measure on that front from a bipartisan team of leaders — Sens. Chuck Schumer (D-N.Y.) and John Thune (R-S.D.) — before getting out of town last week.
July 18, 2016

A Pick, A Balk, and Maybe, an Overhaul

The Deputy Assistant Secretary for International Tax Affairs is not inclined to grant exceptions that big banks want, reports Tax Analysts.
July 13, 2016

The drug company that shocked the world with its prices dodged $10 billion in taxes, report says

This strategy is common, legal and increasingly used by pharmaceutical companies, said Jeremy Scott, editor-in-chief of commentary at Tax Analysts, an organization specializing in tax policy.
July 11, 2016

Speaking out on Section 385

Our friends at Tax Analysts dissected 113 of the comments posted to Their findings: “53 were generally favorable or advocated broader rules (not including identical comments contained in one July 1 submission by 29,604 Americans for Tax Fairness and Daily Kos members and supporters); 45 were generally unfavorable or advocating narrower rules; and two were on generally neutral technical points.”
July 11, 2016

Speaking out on Section 385

After a panel discussion on tax reform organized by the Taxpayers Protection Alliance, Brady said he takes, "every chance I get to make the case that this IRS ought to behave differently," Tax Analysts reported.
July 3, 2016

The Most 'Unprecedented' Election Ever? 65 Ways It Has Been

"If Trump doesn't release any returns before the Nov. 8 election, there'd be 'an unprecedented level of secrecy surrounding his personal finances,' said tax historian Joseph Thorndike, the director of the Tax History Project at Tax Analysts
July 1, 2016

The comments are flowing

The D.C. bar bemoaned that “such a sea change in current law” would happen via regulation, and urged Treasury and the IRS to “reconsider issuing the final regulations.” New York, on the other hand, called for more targeted guidance than the proposed rules offer, and maintained that the impact of the rules “may not be grasped by taxpayers.” Tax Analysts has more (requires a subscription)
June 30, 2016

Energy Tax Extenders in FAA Bill Unlikely

According to Tax Analysts, Senate Finance Committee member John Thune (R-SD) recently indicated that the extenders will not make it into the FAA reauthorization bill. Senator Richard Burr (R-NC) also said that the most likely vehicle for energy tax incentives would be an end-of-the-year tax bill.
June 21, 2016

The Great Trump Tax Mysteries: Is He Hiding Loopholes, Errors, or Something More Serious?

If Trump is not considered active enough in real estate, however, he is covered by a different system, for investors, and those real-estate losses do not travel, says Lee Sheppard, a tax lawyer and widely read contributing editor at the trade publication Tax Notes.
June 17, 2016

Trump appears to have paid no taxes for two years in early 1990s

In 1978 and 1979, Trump took losses of $406,379 and $3,443,560, respectively, and paid no income taxes. “I think it’s kind of crazy that to try to make sense of Donald Trump’s personal financial situation and his business behavior we have to scratch around for these scraps of information when these sort of things should be in the public record,” said Joseph Thorndike, director at Tax History project at Tax Analysts, which compiles candidate tax returns.
June 13, 2016

TJN sparring partner caught up in Panama Papers scandal

Which is not so far from the truth. To read an account of how the CFP helped kill the ill-designed OECD project, see Marty Sullivan’s Lessons from the Last War on Tax Havens in Tax Analysts in 2007: it’s a really useful short history lesson for those keen to understand better the complex politics of this whole messy game.
June 10, 2016

Tax Planning Goes On Steroids

These changes could mean additional reporting requirements for an estimated 9,000 companies around the globe, says Lee Sheppard, contributing editor with Tax Analysts, a global provider of tax news and analysis.
June 10, 2016

How an obscure nonprofit in Washington protects tax havens for the rich

On July 2, Mitchell, the chairman of the center, sent Vlieg an article written by economist Martin A. Sullivan in Tax Notes International, a trade publication. The article, headlined “Ah, Panama,” said: “If you want to find a place to stash your cash, Panama has to be high on your list. Maybe even higher than Switzerland.”
June 9, 2016

Fiscal cliff flashbacks

Wyden, during a speech on the Senate floor on Wednesday, called Trump’s refusal to release his returns “a rebuke of the overwhelming majority of Americans — including a majority of Republicans — who are demanding openness and honesty from the candidates on this issue.” (Tip of the cap to Tax Notes’ Kat Lucero, who was the first person we saw on this.)
June 7, 2016

Get ready for an EITC debate

But over at Tax Analysts, Marty Sullivan writes that how Ryan and House Ways and Means Chairman Kevin Brady deal with tax relief for working families in the tax reform framework could say a lot about GOP priorities in 2017 and even how the party would work with a President Donald Trump.
June 7, 2016

IRS’ List of Scrutinized Nonprofits Was Larger Than Previously Thought

Edward Greim, a Kansas City, Mo., attorney representing the 426 organizations now party to the class action filed in 2013, told Tax Analysts on Monday that the original shorter list compiled in 2012 by the Treasury Inspector General for Tax Administration was “just a snapshot in time.
June 1, 2016

The man who could dash the GOP's tax dreams

“Literally, shelves of studies try to estimate the responsiveness of the economy to changes in taxes,” said Marty Sullivan, chief economist at the nonpartisan Tax Analysts. “The estimates of those elasticities are central to all tax economics, and there is tremendous controversy about them.”
May 23, 2016

It’s Koskinen hot seat week

The media has been saying over and over that every major party nominee since 1976 has released their tax returns. But as Tax Analysts’ Joe Thorndike notes, Ronald Reagan — the Republican that Trump (and lots of other GOP candidates and office holders) likes to use as a comparison — “resisted financial disclosure at every turn” until releasing his tax returns as the 1980 Republican nominee.
May 21, 2016

Trump once revealed his income tax returns. They showed he didn’t pay a cent.

“At some point, he could be the tax collector in chief. He’d supervise the IRS, making sure all of us live up to our own tax responsibilities,” said Joe Thorndike, a director at Tax Analysts, a nonpartisan, nonprofit group that specializes in tax policy. “People deserve to know . . . how a person like that plays the game.”
May 20, 2016

There are audits, and there are investigations.

Representative Charles Boustany, Jr., has not put aside his effort, reports Tax Analysts. The “innovation box” would lower taxes on profits tied to US patents and intellectual property. Speaker Paul Ryan expects a broad tax reform blueprint by the end of June. It will “determine the direction” of the innovation box, Boustany said.
May 17, 2016

A New Picture Of Corporate Shareholders May Turn The Tax Debate Upside Down

But the basic story seems clear: Taxable shareholders own much less stock than most experts thought. Their findings were first published in the journal Tax Notes.
May 17, 2016

Lunch Links: European Delegation Visiting, Mississippi Repealing Tax on Investment, British Beard Tax Proposal

A voluntary clearinghouse of states would distribute the money, and there would be no requirement that states simplify their sales tax systems to ease compliance. Goodlatte hopes his idea will stall an alternative from Rep. Jason Chaffetz (R-UT), while states consider their own laws attempting to enforce collection on their own terms. (State Tax Notes)
May 16, 2016

Only About One-Quarter of Corporate Stock is owned by Taxable Shareholders.

 In a report published today in the journal Tax Notes, my Tax Policy Center colleague Lydia Austin and I found the other three-quarters of shares now are held in tax-exempt accounts such as IRAs or defined benefit/contribution plans, or by foreigners, nonprofits or others.   
May 16, 2016

Most US stock investors don't pay taxes on gains: Report

That shift, outlined in a paper done for the nonpartisan group Tax Analysts, means the government is collecting far less revenue from stock market gains than it used to.
May 16, 2016

Donald Trump Says There's 'Nothing to Learn' from His Tax Returns: Here's Why Experts Disagree

At the very least, the returns will shed light on "how he plays the game with taxes," Joseph Thorndike, director of the Tax History Project at the nonprofit Tax Analysts, tells The Associated Press. "It's a big piece of someone's financial life. It's completely opaque to us at this point."
May 16, 2016

Supplemental Security Income and the Tax on Shared Housing

In a recent Tax Notes article, I analyzed the treatment of shared housing under three major safety net programs—the Supplemental Nutrition Assistance Program, the Housing Choice Voucher Program, and Temporary Assistance for Needy Families.
May 13, 2016

Trump Taps Climate Change Skeptic As Energy Advisor

"In 1976, Gerald Ford did not release his returns, but he did release some information about his taxes," said Joseph Thorndike, director of the Tax History Project at Tax Analysts, a nonprofit, nonpartisan group that provides tax news and analysis."That was the last time that a major party nominee hasn’t done it," he said.
May 13, 2016

Trump taps climate change sceptic as energy adviser, pushes back on taxes

"In 1976, Gerald Ford did not release his returns, but he did release some information about his taxes," said Joseph Thorndike, director of the Tax History Project at Tax Analysts, a nonprofit, nonpartisan group that provides tax news and analysis.
May 13, 2016

Business asks for relief

Rep. Jim Renacci (R-Ohio), a House tax writer, told a Ways and Means subcommittee hearing focused on lawmaker input on tax reform that he plans on introducing a measure that will scrap the corporate income tax and instead install “a single-digit tax on business activities,” Tax Notes reports.
May 12, 2016

Trump’s Tax Returns

Jeremy Scott, editor in chief of the commentary and analysis products for the nonprofit Tax Analysts, told us in a phone interview that it was “strange for Trump to say you don’t learn anything,” when just four years ago, Romney’s effective tax rate, revealed through his tax returns, was a significant issue.
May 12, 2016

Flashback: Richard Nixon Released Tax Returns While Under Audit

But according to Joseph Thorndike, director of the Tax History Project at Tax Analysts, Richard Nixon released his taxes while under audit.
May 12, 2016

Trump’s Tax Returns

The Tax Analysts’ Tax History Project is compiling an online archive of candidates’ returns. Project Director Joseph J. Thorndike wrote in a May 12 blog post on that beyond an effective tax rate, “[r]eturns can shed light on the way a candidate lives his life. It can tell us about charitable giving as well as personal borrowing and investment activity. Returns can also illuminate the complicated business arrangements that often provide the bulk of a candidate’s income, especially for a real estate mogul like Trump.”
May 11, 2016

Lunch Links: Europeans Say 14 States are Tax Havens, Trump Tax Returns, No Tax Powers for Arizona Developers

Richard Mendenhall, head of Missourians for Fair Taxation and former head of the National Association of Realtors, told State Tax Notes that taxing them would be a tax on the American dream.
May 10, 2016

Lunch Links: Kentucky Gives Tax Credits to Film About Cheerleaders and Serial Killers, IRS Reverses on Telephone Audits

Reacting quickly to revelations that the IRS had initiated audits by telephone while saying they didn’t, the IRS issued a statement banning this practice and requiring notification by mail. The evidence emerged at a National Taxpayer Advocate forum in Iowa and was disseminated all over the tax world by Tax Notes Today.
April 28, 2016

Does the IRS need that information?

Still, there’s one big strike against those opposing the bill. Top IRS officials have acknowledged that the agency has considered getting rid of Schedule B, as Tax Analysts reported in December.
April 18, 2016

When it comes to taxes, Americans get off easy

"He is talking about higher taxes across the board on almost everyone," said Bob Goulder, tax policy expert and contributing editor to Tax Analysts. "I give him credit for being honest about it. People can quibble -- and rightly so -- about the ramifications of raising everyone's taxes. Would it make the corporate sector uncompetitive? Would it drive capital overseas? Would it cost jobs?"
April 14, 2016

How World War II Still Determines Your Tax Bill

At the time, the idea of running a deficit was seen as disastrous, says Joseph J. Thorndike, author of Their Fair Share: Taxing the Rich in the Age of FDR and director of the Tax History Project.
April 14, 2016

Plutocratic or Conservative Tax Reform?

The current business tax code was designed by the best connected and paid lobbyists. It makes no economic sense. It hands out twice as much in subsidies as it collects in revenue according to Lee Sheppard, one of our most perceptive tax experts.
April 13, 2016

Term Sheet -- Wednesday, April 13

A report from Tax Analysts says that upwards of 100 private equity firms are facing "concentrated exam attention on their management fee waivers."
April 12, 2016

Recidivism Watch: Jane Sanders repeats Bernie Sanders’s Four Pinocchio claim that they released full tax returns

The Tax History Project, a public service initiative from Tax Analysts, has compiled tax returns for presidents, vice presidents and candidates vying for their seats in recent decades.
April 10, 2016

Is it finally time for tax reform?

Corporate executives' desire to unlock their foreign earnings is "a tremendous catalyst for tax reform," said Martin Sullivan, chief economist for Tax Analysts. "And if you were to enact a tax reform that solved that problem, a lot of the energy, a lot of the motivation for doing general tax reform goes away.
April 8, 2016

Is Bernie Sanders Transparent About His Taxes?

According to the Washington Post, a nonprofit group called Tax Analysts tracks all of the publicly-released tax documents from presidents and presidential candidates past and present. The information dates back to Franklin Roosevelt’s tax forms from 1937.
April 7, 2016

Free Pfizer! Why Inversions Are Good for the U.S.

This approach was proposed by the Harvard Law School professor Stephen E. Shay in 2014. Writing in Tax Notes, he argued that the Treasury secretary has “direct and powerful regulatory authority to reclassify debt as equity and thereby transform a deductible interest payment into a nondeductible dividend.”
April 6, 2016

Why Are Americans Not Included in the Panama Papers?

What may keep more super-rich Americans from seeking tax havens is that they have less to lose, said Lee Sheppard, an expert in international finance at the nonprofit research organization Tax Analysts.
April 6, 2016

Will the inversion rules crimp legit investment?

The International Consortium of Investigative Journalists, which released the roughly 11.5 million documents from the Panamanian firm Mossack Fonseca, listed Nevada as the eighth most popular tax haven in the world, according to Tax Notes’ Amy Hamilton.
April 6, 2016

Bernie Sanders has released few tax returns compared with past and present candidates

Joseph J. Thorndike, the Tax Analysts official who heads the Tax History Project, agreed. Sanders "has not, in fact, released his most recent tax return," Thorndike said. "He has released a portion of that return. The IRS would not accept a Form 1040 as a complete return and neither should voters. Also, it’s worth noting that Sanders has not released any portion of his older returns. … If Mitt Romney had tried to release an incomplete return in 2012, the media would never have accepted it."
April 5, 2016

Bernie Sanders’s false claim that he has released his full federal tax returns

“It’s not a complete tax return,” said Joseph Thorndike, director of the Tax History Project. “The IRS doesn’t think it is, and I don’t think the voters should, either. … Ronald Reagan didn’t release just his 1040, and these guys shouldn’t, either. It’s just not an adequate answer.”
April 4, 2016

Why few Americans turned up in the 'Panama Papers'

“People in other countries pay a lot more in taxes than we do,” says international tax expert Lee Sheppard, contributing editor at Tax Analysts. “In other countries, nearly every rich person has a tax haven bank account. Proportionately, the United States doesn't have as large a problem.”
April 4, 2016

The "Panama Papers": 6 key takeaways

"Americans who are not using European havens can use Caribbean tax havens," said Lee Sheppard of Tax Analysts. "There are respectable tax havens and not-respectable tax havens. I have never heard of Americans using Panama."
April 4, 2016

IRS Funding Cuts Compromise Taxpayer Service and Weaken Enforcement

In a recent Tax Notes article, former long-serving IRS officials commented that “fighting identity theft is increasingly challenging for the IRS, as thieves continue to develop more sophisticated ways of stealing person and business information.”
April 1, 2016

Treasury’s game of Whac-A-Mole: Keeping corporate taxes in the USA

And we’ll also see if the written word — specifically, a recent article in Tax Notes, a hard-core tax-techie specialty publication — has the power to influence events. Which in this case, I hope it does.
March 30, 2016

Chasing nonprofits

The IRS has officially told a federal court that it has the hard drive for Samuel Maruca, a former agency official whose computer was of interest in a court battle between the IRS and Microsoft, Tax Notes reports.
March 28, 2016

Their tax plans, your wallet

Tax Notes has more on a relationship that makes a lot of sense when you think about it. Lake Street Dive, a Brooklyn-based band, and Oxfam America are teaming up to offer more information about tax havens.
March 28, 2016

A Very Short Primer on Tax Nexus, Apportionment, and Throwback Rule

On the other hand, some, like David Brunori of Tax Analysts, remind us that taxes are supposed to adhere to the benefit principle, so a formula based on property and payroll (similar to the Willis Commission recommendations), would more closely match the benefits a company and its employees receive from government services.
March 22, 2016

Consumption taxes on the rise

If you’ve got a Tax Notes subscription and you like yarns about using the tax code as a threat — we’ve got a story for you. Joseph J. Thorndike has taken a deep dive about the Section 891, which would open the door to retaliatory double taxation against Europe to combat the continent’s illegal state aid investigations, that a bipartisan group of senators has urged the Obama administration to consider putting into action.
March 21, 2016

The biggest winners under Donald Trump's tax plan

"Nobody's who is at all familiar with the legislative process takes these tax cuts seriously because they claim two things will be used to pay for them -- economic growth and spending cuts -- and the orders of magnitude aren't within the realm of possibility on either count. They're not viable," said Martin Sullivan, chief economist for Tax Analysts, a nonprofit publisher, and a former U.S. Treasury Department economist in the George H.W. Bush administration.
March 18, 2016

Sanders Urges Treasury to Set Tax Restrictions on Inversion Deals

Mr. Sanders is relying on an argument promoted by Stephen Shay of Harvard University. In Tax Notes last month, Mr. Shay, along with two other law professors, outlined how the government could use existing regulatory authority to limit such loans.
March 16, 2016

Europe keeps up the pressure

Every state that has an income tax — and that’s all but seven — are facing delays in sending out refunds, Tax Analysts reported, in just the latest sign that identity theft is only growing as a problem for tax administrators. Those delays haven’t gone unnoticed either, with Tax Analysts noting that hundreds of Twitter users have been complaining online about not getting their refund.
March 14, 2016

Timeline on international tax slips

Tax Notes’s Kaustuv Basu with the scoop on how Rep. Charles Boustany’s draft “will likely not be ready” by the appointed timeline: “Several people familiar with discussions on the draft said that the March deadline might have been too ambitious.” One lobbyist told Tax Notes that “Ways and Means staff certainly seems to be walking back quotes from Congressman Boustany about an end-of-March release.”
March 14, 2016

The waiting is the hardest part.

The House Ways & Means subcommittee on tax policy will not have its draft ready by the first quarter as subcommittee chair Charles Boutsany, Jr., had hoped, reports Tax Analysts - See more at:
March 10, 2016

Trump is not the only candidate playing games with his tax returns

“[The IRS] wouldn’t accept an incomplete return, and neither should reporters — or voters,” says Joseph J. Thorndike, director of the Tax History Project at Tax Analysts and an adjunct professor at the Northwestern University School of Law.
March 7, 2016

How Much Do US Presidents Pay in Taxes?

In 1981, President Ronald Reagan and his wife Nancy deducted $6,006 for the big move, while Bill and Hillary Clinton deducted $38,683 in 1993, according to copies of returns maintained by Tax Analysts.
March 4, 2016

Clinton lays out plan to help American workers

"She's applying all the sticks," said Martin Sullivan, chief economist with Tax Analysts. "I don't see any carrots."
February 28, 2016

Rubio, Cruz Release Tax Summaries In Challenge To Trump

But while Thorndike faulted Trump for backing away from releasing his tax returns, he called partial releases such as those by Rubio and Cruz "fake transparency." "If you're going to release your tax return, you need to release your tax return," he said, calling such disclosure a rite of passage for candidates.
February 26, 2016

Trump says he can't release tax returns because of audits

Federal law prohibits the government from releasing an individual's tax return, but most candidates do so voluntarily. The first was Democratic presidential candidate Adlai Stevenson II in 1952. He chose to release 10 years' of tax returns, after Richard Nixon challenged him to make financial disclosures, said tax historian Joseph Thorndike of Tax Analysts.
February 26, 2016

What Trump and Clinton have in common: A resistance to transparency

The two issues are not equivalent, in that releasing tax returns has been a standard rite of presidential candidacy for decades. According to tax historian Joseph Thorndike, a contributing editor for Tax Analysts, every major-party nominee since 1980 has done so.
February 26, 2016

IRS: Trump can release tax returns, regardless of audit

There are many reasons why a taxpayer being audited might want to keep their tax returns private. However, Americans have come to expect that presidential candidates will disclose their returns, said Joseph Thorndike, director of the Tax History Project at Tax Analysts, a leading provider of tax news and analysis.
February 25, 2016

AP FACT CHECK: Trump objects to cursing

But in any event, no level of scrutiny prevents him from making his returns public, said Joseph Thorndike, a tax law professor and contributing editor to Tax Analysts, an industry publication.
February 24, 2016

Ted Cruz’s Tax Plan Divides Economists

“It’s one of the most complicated questions in economics,” said Martin Sullivan, chief economist at Tax Analysts, publisher of Tax Notes. “Every time you start talking about these incidences, it’s like a whack-a-mole thing. You talk about one thing and it comes out the other side.”
February 23, 2016

Mapping out the ‘future state’

Koskinen told Tax Notes that the future state plan is still kind of at the 30,000-foot level — “a relatively high level of abstraction, but the direction we're going in, and the specific initiatives, all make good sense now.”
February 21, 2016

How Bernie Sanders Wants to Tax Your Trades

Jeremy Scott, editor in chief at nonprofit tax organization Tax Analysts, compared the scenario to a implementing a cigarette tax to fund schools -- if it discourages smoking, as is the intended effect, revenue for the benevolent cause will drop as well. Likewise, a tax on investments that results in a drop in trading or migration of investors abroad could have similar effects.
February 19, 2016

Is Your IRS E-file PIN Secure?

The Tax Foundation first learned about the problem from Luca Gattoni-Celli of Tax Analysts, who published the alert on Feb. 18. Tax Analysts were contacted by a former IRS revenue agent, Kevin Johnson, who deemed the process “somewhat disconcerting because it is too easy to obtain the PINs.”
February 18, 2016

Letter to IRS Commissioner Re IRS Website Data Vulnerability

As first noticed by reporter Luca Gattoni-Celli of Tax Analysts, the page lacks the security features that would be necessary to prevent its usage as an instrument of defrauding taxpayers
February 18, 2016

Tax Foundation hopes IRS will remove web feature

IRS officials told Tax Analysts that the PIN could only be used for the current year’s tax return. But Henchman was not satisfied with this answer.
February 18, 2016

Open Letter to Commissioner Koskinen

As first noticed by reporter Luca Gattoni-Celli of Tax Analysts, the page lacks the security features that would be necessary to prevent its usage as an instrument of defrauding taxpayers:
February 18, 2016

Is $250,000 middle class? Hillary Clinton and Bernie Sanders think so

Setting the bar between middle class and wealthy at $250,000 isn't a new idea. Former President Bill Clinton cited that figure when he campaigned on raising taxes on the wealthy in 1992, said Martin Sullivan, chief economist with Tax Analysts.
February 18, 2016

Why do Democrats think $250,000 is middle class?

Sanders and Clinton aren't the first to have such a generous definition of the "middle," however. Former President Bill Clinton also campaigned with the number $250,000 in 1992, according to the chief economist of Tax Analysts Martin Sullivan; Clinton's top tax bracket applied to those making over $250,000. Obama also used this earning as a threshold to define "wealthy" and "middle class."
February 16, 2016

A Definite Crisis, Maybe an Evasion, and Lots of Talk

Tax Analysts reports that Brady wants Ways & Means to draft both international tax reform legislation and a blueprint for comprehensive reform this year.
February 8, 2016

Obama’s last budget: Feel the excitement

But even if Shuster (R-Pa.) can massage his measure through the House — over the objections of appropriators, as well — our pal Kaustuv Basu at Tax Notes reported that the Transportation chairman might face even more static in the Senate.
February 1, 2016

The Global Tax 50 2015: The leaders creating and impact around the world

Lee Sheppard, contributing editor of Tax Analysts' Tax Notes and one of the nation's most widely read and respected tax commentators, was named one of the Global Tax 50 most influential players in international taxation in 2015 by International Tax Review.
January 29, 2016

Is the 'tampon tax' unfair to women?

Decisions about what is and isn't subject to state sales taxes are often highly subjective, if not plain "goofy" as Tax Analysts deputy publisher David Brunori put it.