Taxes

As part of the Inflation Reduction Act (“IRA”) passed in August of 2022, $391 billion of governmental funding was allocated to energy and climate initiatives. The ability to transfer (i.e. sell) clean energy credits was part of the new legislation and covered under IRC Section 6418. The intent of IRC Section 6418, was to increase
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“What a difference a year makes!” That’s how National Taxpayer Advocate (NTA) Erin M. Collins kicked off the preface to her midyear report to Congress. That difference, Collins reported, was positive. She noted, “In submitting this report, I’m finally able to deliver some good news: The taxpayer experience vastly improved during the 2023 filing season.”
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The United States does not have a carbon border tax. But legislation recently introduced by a bipartisan group of senators could very well put the country on track to implement one. If the United States were to implement a carbon border tax, it would need to know which kinds of industrial goods release the highest
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The heirs of an estate can be liable to pay the estate or income taxes (and perhaps other obligations) of the estate. A recent court case involved the estate of the founder of Gulfstream, the aircraft manufacturer. The founder, Allen Paulson, died in 2000 with an estate valued at about $200 million that primarily was
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Despite U.S. lawmakers’ eagerness to pass final judgment on the 2017 Tax Cuts and Jobs Act’s signature anti-base-eroding measures, it will be some time before the law’s legacy becomes clear. The Senate Finance Committee’s May 11 hearing, which the majority had planned to devote to the aggressive tax planning practices of U.S.-based pharmaceutical manufacturers, produced
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How a retired Pennsylvania couple changed the lives of hundreds of struggling residents of affluent Chester County by challenging inflated real estate tax assessments on their mobile homes. Chester County, Pennsylvania, with its rolling farmland and proximity to both Philadelphia and the corporate haven of Wilmington, has the highest median income (nearly $110,000) and percentage
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The ongoing struggle between employers and employees over remote work continues. Some employers are threatening remote workers, while others are offering more in-office benefits. We’ll see how it all pans out, but our tight job market currently gives workers—at least college-educated ones—the upper hand over employers. The Washington Post recently reported how Google GOOG is
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Robert Goulder of Tax Notes and Benjamin Alarie and Susan Massey, both of Blue J Legal, discuss the benefits and drawbacks of using generative AI models to assist with complicated tax questions and research. Robert Goulder: Hello and welcome to the latest edition of In the Pages. I’m Bob Goulder with Tax Notes. Today we’re
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The ongoing struggle between employers and employees over remote work continues, with some employers threatening remote workers, while others offer more in-office benefits. We’ll see where it all comes out, but our tight job market currently gives workers—at least college-educated ones—the upper hand over employers. The Washington Post recently reported how Google GOOG is moving
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Tax Notes reporter Alexander Rifaat discusses the tax implications of the recently passed debt ceiling bill and gentleman’s agreement over IRS funding. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: take it to the
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Plainly, the indictment of former President Donald Trump is not about taxes. There are no tax charges, and it does not appear that any of the documents in question had anything to do with taxes. The documents were allegedly a lot more important than that. So how, then, could there be any tax lessons here?
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