Former Tax Court Judge Diane L. Kroupa and her husband were recently indicted in Minnesota on multiple tax charges, including conspiracy to defraud the United States, tax evasion, subscribing to false tax returns, and attempting to obstruct an IRS audit. According to the indictment, between 2004 and 2010 Kroupa and her husband deliberately concealed $1 million in taxable income, on which they failed to pay nearly $400,000 in income taxes.
Tax Analysts Blog
As Bill Maher summed it up recently, the Democrats’ position on immigration has morphed from comprehensive reform to “You get across that river, you're here to stay.” He might as well have added, “And you get to apply for federal public benefits right away.”
Recently, 50 really rich folks wrote a letter to New York Gov. Andrew Cuomo (D), asking him to not only raise their taxes but to raise the taxes of all rich people. Well, maybe they don't want to tax all rich people -- just the top 1 percent of earners in the state. It's always fun to see rich people throw other rich people under the bus.
Which of these things is not like the others: Donald Trump, Hillary Clinton, Bernie Sanders, Ted Cruz, and John Kasich?
The first time the issue of the "tampon tax" came up, I stuck my fingers in my ears and started singing la la la. I come from a generation that does not talk about such things in polite company. Actually, men didn't talk about such things in any company. I joked in a previous column that I am uncomfortable talking about such things. And I am.
Even though governments have been exchanging financial and tax information for decades, the volume, frequency, and regularity of those disclosures has begun to grow exponentially, and will soon grow logarithmically. If past intergovernmental information exchanges reflected the pace of a horse, and current exchanges have begun to approach the speed of a Ferrari, the exchanges on the near-term horizon will resemble the warp-speed travel known to fans of Star Trek.
Since 2002, I have been saying that states should repeal their corporate income taxes. The tax has not raised much money, and it never will. We spend an inordinate amount of time litigating, planning, auditing, and agonizing over it. We should stop pretending the tax matters, because it doesn't.
The ever more likely and the ever less liked Republican presidential nominee, Donald Trump, has variously and vacuously threatened that on acceding to the Oval Office, he would slap tariffs of 35 percent on Mexican imports, including Ford cars and Carrier air conditioners, and 45 percent on all Chinese products brought into the country.
The weird power sharing situation between London and Edinburgh was on display last week when the United Kingdom's Conservative government announced that it would push forward with tax and spending cuts. Scotland's first minister, Nicola Sturgeon of the Scottish National Party, said she wouldn't accept the Conservatives' tax changes and would instead seek to protect spending on education and elder care.