Tax

Blog Posts

  • Internal Revenue Service Reopens Following Government Shutdown January 23, 2018 The Internal Revenue Service has reopened, following the three-day federal government shutdown that began at midnight on Friday, January 19, 2018. The following message has been posted on the IRS website instructing all employees to report to work:…
  • Sales/Use Tax: Expanded Authority to Collect Sales/Use Tax From Remote Sellers Could Give States a Windfall While Increasing Compliance Costs for Businesses January 23, 2018 Due to the recent passage of Tax Cuts and Jobs Act, states are actively looking for solutions to offset losses of revenue that could result from the new legislation. One solution states have supported is an expansion of states' authority to collect…
  • Tax Cuts and Jobs Act: §§ 1221(a)(3)/1235 Disconnect January 23, 2018 Deborah A. Geier Professor of Law, Cleveland-Marshall College of Law, Cleveland State University Does the sale of a patent by its creator create capital or ordinary gain? Prior to the legislation commonly referred to as the Tax Cuts and Jobs Act…
  • Cooperative Procedure-Making January 23, 2018 Robin Effron, Ousted: The New Dynamics of Privatized Procedure and Judicial Discretion, 98 B.U. L. Rev. (forthcoming 2018), available at SSRN. Pamela Bookman Over the past few decades, two narratives have emerged about who controls civil procedure.…
  • IRS Amnesty Expats (2018) – Foreign Income & Offshore Accounts January 23, 2018 IRS Amnesty Expats (2018) – Foreign Income & Offshore Accounts IRS Amnesty Expats (2018) – Foreign Income & Offshore Accounts by Golding & Golding U.S. Expatriates that are still considered U.S. Citizens or U.S. Persons still…
  • U.S. Supreme Court Takes Up Online Tax Case January 22, 2018 The U.S. Supreme Court recently agreed to hear a case that could change way states tax online sales. The case, South Dakota v. Wayfair, Inc., challenges the U.S. Supreme Court's 1992 decision in Quill Corp. v. North Dakota. In Quill, the U.S. Supreme…
  • January 22, 2018 Ohio State Bar Association: Sales and Use Tax Subcommittee Report Click here to view the report Steve and Rich, Co-Chairs of the Ohio State Bar Association Sales / Use Tax Subcommittee, presented at the January 18, 2018 Taxation Committee meeting.…
  • The Most Inexpensive States for Funeral Services January 22, 2018 The average cost of funeral services is much cheaper in some states than others. The reason for that is a simple matter of the choices that people make.Dying can be very expensive - if you do not have a plan in place to cover these costs, the burden…
  • IRS & FTB Give Tax Relief to Wildfire and Mudslide Victims in Southern California January 22, 2018 The IRS announced last week that they are giving tax relief to victims of the Southern California wildfires and mudslides. The IRS extended impacted taxpayers' deadlines that fell (or will fall) between December 4, 2017 and April 29, 2018 to April…
  • Make 2018 the Year You Organize Your Finances January 22, 2018 "Do you want to feel as if you've lost 10 pounds? Get your financial life in order."
  • Lost in translation January 22, 2018 I spoke briefly by phone in December to a reporter from Japan who was asking me how the 2017 Republican tax bill compared to 1986 tax reform. Today he kindly sent me the text of his article, with highlighting for the portion where my comments are…
  • Estate and Gift Tax Planning Opportunities Under the Tax Cuts and Jobs Act January 22, 2018 In my January 12, 2018 blog, in which I addressed the Tax Cuts and Jobs Act[1] which became effective January 1, 2018, I reviewed some of the changes affecting the federal estate and gift tax – primarily the doubling of the exemption to…
  • How to Be Patriotic, Tax Style January 22, 2018 Supporters of the tax break handout to corporations are gloating over the announcement by Apple that its planned activities over the next five years will "contribute" more than $250 billion to the U.S. economy. There is nothing in the announcement…
  • Teaching Property Through Indian Land Law January 22, 2018 Jessica A. Shoemaker, Complexity's Shadow: American Indian Property, Sovereignty, and the Future, 115 Mich. L. Rev. 487 (2017). Shelby D. Green Many first-year property classes start with the centuries-old Johnson v. M'Intosh (1823). There, Chief…
  • 7 Reasons You Might Have Been Turned Down For A Refund Anticipation Loan January 21, 2018 Shutterstock Tax season officially opens on January 29, 2018, and that means that the rush to benefit from a tax refund has already started. The law now requires the Internal Revenue Service (IRS) to hold refunds tied to the Earned Income Tax Credit…
  • IRS Says FATCA Minimizes The Need for Offshore Voluntary Disclosure January 21, 2018 IRS Says FATCA Minimizes The Need for Offshore Voluntary Disclosure IRS Says FATCA Minimizes The Need for Offshore Voluntary Disclosure by Golding & Golding, A PLC For many individuals, businesses, and estates that are still debating whether they…
  • IRS Penalty Abatement (2018) – Foreign Accounts | Offshore Assets January 21, 2018 IRS Penalty Abatement (2018) – Foreign Accounts | Offshore Assets IRS Penalty Abatement (2018) – Foreign Accounts | Offshore Assets In recent years, and due to the increased enforcement of FATCA (Foreign Account Tax Compliance Act) along…
  • Can I Keep My Car in Bankruptcy? Yes. In Fact, You May Be Able to Keep It on the Cheap! January 21, 2018 It's a little-known secret — and too infrequently exercised right of a debtor — to "redeem" a car in Chapter 7 bankruptcy, that is, take the car back from the lender at what the car is worth, not what you owe. Yes, you heard that right: A…
  • Applicable Federal Rates – February 2018 January 21, 2018 Follow @crubincrubin
  • Ask The Taxgirl: When Do The New Tax Law Changes Go Into Effect? January 21, 2018 1040 Taxpayer asks: Kelly, I read your article in Forbes where you nicely detailed the changes in law. However, I am reviewing the IRS's rules for filing 1040A (https://www.irs.gov/pub/irs-pdf/i1040gi.pdf page 48) and they still show the MFJ income…