Page 13 - Tax Notes News Today

Some of the most intractable problems plaguing the federal tax system have been around for a long time. Complaints about complexity, for instance, appeared…

In an effort to trade an increase in the debt ceiling for spending cuts, the Republican-controlled U.S. House of Representatives has narrowly passed H.R. 2811, dubbed the Limit, Save,...

The National Taxpayers Union Foundation has brought together some heavy hitters in the tax world to provide the IRS with insights as the agency moves forward with its strategic operating plan.

Senator John Kerry's tax plan slows economic activity until 2011,when it generally adopts President George Bush's approach ofpermanent tax cuts. Even so, the Bush plan consistently outperformsthe Kerry plan. President Bush relies on supply-side tax changeswhile Senator Kerry focuses much of his attention on demand-sidepolicy with targeted tax policy changes that yield the unintendedconsequence of producing a tax cut for high-income taxpayers after2011.

Public-private competition can lay the groundwork for changes inrevenue-estimating transparency practices, but Congress can set therules, and a Blue Ribbon Commission sponsored by a governmentagency, nonprofit group, or accounting or law firm might also beuseful. One thing is sure: Change in revenue-estimatingtransparency is needed at both the Treasury Department and theJoint Committee on Taxation.

The supply-side framework outlined in this paper does not include all the effects of taxation that economists would like to examine. Depending on one's perspective, the glass could be considered half-full as well as half-empty. But if the only "dynamic" thing the Joint Committee on Taxation did was to incorporate the detrimental effects of federal deficits on capital formation, this would be more than worth the effort.

Tax Notes contributing editor Robert Goulder discusses the history of bank secrecy, Credit Suisse’s role in it, and the bank’s recent collapse. This…

Robert Goulder of Tax Notes and professor Mitchell Franklin of the Le Moyne College Madden School of Business discuss college sports programs’ not-for-profit…

With dynamic estimate of the Camp tax reform plan, the JCT will be approximately correct rather than precisely wrong.

Guillermo Bervejillo, PhD | Zach Schiller Introduction Ohioans—no matter where we live or what we look like—want to live in resilient and thriving communities. To build these communities we must pool our resources and embark on projects that ensure prosperity and well-being as widely as possible. Taxes are the tool to do...