Taxes
IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens
As part of continuing efforts to combat dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service is sending an initial round of more than…
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IRS Offers Penalty Relief Related To New Corporate Alternative Minimum Tax
The IRS has announced that it will grant penalty relief for corporations that did not pay estimated tax in connection…
Bill Spriggs: An Economist Who Fought For Racial And Economic Equality
The economics profession and the progressive policy world is dealing with the shocking news that Bill Spriggs, Chief Economist at…
It’s Time For A Bipartisan Commission On Taxes And Spending (Again)
The Fiscal Responsibility Act of 2023 (H.R. 3746) is a done deal. The federal government avoided a debt default, at…
Inside Anna Nicole Smith’s Battle Over Her Billionaire Husband’s Estate
A new Netflix documentary has rekindled interest in the late Playboy model who almost walked away with $475 million from…
Inside The Crazy $6 Billion Plan To Turn Wind Into Gasoline
Former LNG exec Meg Gentle says it’s serious, and some smart money, including from Porsche and Baker Hughes, agrees with…
Buckle Up. 2025 Promises To Be An Historic Year In Tax And Budget Policy
Now that Congress has passed the Fiscal Responsibility Act (FRA) of 2023, it isn’t too soon to start thinking about…
U.S. Economic Update: Inflation, The Deficit, And The Debt Limit
Tax Analysts’ chief economist Martin Sullivan provides an overview of the state of the economy and how the recent debt…
ChatGPT Explains Trader Tax Benefits
I prompted Bing’s ChatGPT to write blog posts on “trader tax benefits” and “trader tax status.” See my comments in…
Anti-Money-Laundering Rules — A Tax Authority’s New Best Friend
In April the International Monetary Fund released a working paper explaining how tax authorities can better leverage anti-money-laundering (AML) measures…
Employee Retention Credit Schemes Are Symptoms Of A Dysfunctional Tax System
Lance Wallach is an expert on abusive tax transactions - in a good way. He warns people about them and…
Why The 14th Amendment Is Part Of The Debt Ceiling Drama
As the debt limit drama plays out, Americans might be wondering if there is a better way to prevent defaulting…
We’re Free Filin’? Assessing The IRS’s Direct-File Report
Former IRS Commissioner David Kautter, now with RSM, discusses the recently released report on the feasibility of an IRS-run direct…
Congress Is Sitting Back While Social Security Is Trying To Starve People To Death And Is Likely Succeeding
Terry Savage and I are collecting Social Security horror stories and posting them at my substack site, larrykotlikoff.substack.com. Sign up…
The Debt Limit Battle Has Produced Plenty Of Drama But Few Budget Cuts
House Speaker Kevin McCarthy (R-CA) and President Joe Biden reached an agreement over the weekend to limit spending for a…
Americans Abroad Must File IRS Taxes, Disclose Accounts & Assets
U.S. taxpayers living and working abroad must file their 2022 tax returns by June 15. This deadline applies to both…
CBO Releases Estimates On The Impact Of The Debt Ceiling Agreement
In response to a request from House Speaker Rep. Kevin McCarthy (R-CA), the Congressional Budget Office (CBO) has estimated the…
Tax Deadline Fast Approaching For Americans Living And Working Abroad
If you are an American taxpayer who lives and works out of the U.S., you have about two more weeks…
Alleged Tax Fraud Mastermind Gets More Jail Time For Role In Billion Dollar Scheme
A German lawyer widely regarded as the mastermind of a massive tax fraud scheme has been sentenced to an additional…