Chandra Slack Wallace

Legal Reporter @TaxNotes
Lawyer, economic analyst, reader, working writer. Goal: to be better today than I was yesterday. Views are my own; RTs on a whim.

[Tax Notes @TaxNotes]

From @StephanieSoong: The tax committee of a U.S. business group told Treasury’s top OECD negotiator that it supports the government’s push to ensure that the U.S. tax system exists separately from the OECD's pillar 2 regime. https://t.co/jqHISB9sIh

[Chandra Slack Wallace @ChandraSWallace]

The story by @LaurenLoricchio and me that @agranato42 is referencing is here (outside the @TaxNotes paywall):
https://t.co/xTSFiCrWrL.

[Andrew Granato @agranato42]

An addition inspired by @LaurenLoricchio @ChandraSWallace reporting on a maneuver that we learn from the Pandora Papers: (1) create a nearly invisible offshore insurance policy, (2) conduct transactions that appear to run contrary to US law, and (3) onshore the policy tax-free.

[Andrew Granato @agranato42]

The final draft of my and @AriGlogower's Reforming the Taxation of Life Insurance article is available on SSRN! https://t.co/ZtpQibyEnZ

[Andrew Granato @agranato42]

An addition inspired by @LaurenLoricchio @ChandraSWallace reporting on a maneuver that we learn from the Pandora Papers: (1) create a nearly invisible offshore insurance policy, (2) conduct transactions that appear to run contrary to US law, and (3) onshore the policy tax-free.

[Kyle Pomerleau @kpomerleau]

If I had to choose, I'd repeal CAMT and leave the buyback tax in place. There is at least a real distortion the buyback tax is trying to address.

https://t.co/jj3QIWFk2D

[Lauren Loricchio @LaurenLoricchio]

ICYMI, don't forget to check out @taxnotes three-part series, "Unwrapped: Lifting the Veil on High-End Life Insurance." The series is based on our review of leaked documents obtained by @ICIJorg

Outside the paywall: https://t.co/8mlkZBV0UF

[Chandra Slack Wallace @ChandraSWallace]

The next part of the investigative series on high-end life insurance from @TaxNotes is up! Don't miss it.

[Lauren Loricchio @LaurenLoricchio]

A legislative proposal to crack down on the abuse of high-end life insurance is expected to be released soon amid investigations by the Senate Finance Committee’s Democratic staff and @TaxNotes.

https://t.co/wHxC85CD7Q

[Chandra Slack Wallace @ChandraSWallace]

The next installment in our series - with @LaurenLoricchio

[Lauren Loricchio @LaurenLoricchio]

Don't miss Part 3 of our series Unwrapped: Lifting the Veil on High-End Life Insurance, which shows how private placement life insurance helps business owners minimize their tax liability. From the talented @ChandraSWallace and me. https://t.co/xJsE7NxIlC @TaxNotes @ICIJorg

[Lauren Loricchio @LaurenLoricchio]

Check out Part 2 of the @TaxNotes investigations team's series Unwrapped: Lifting the Veil on High-End Life Insurance. Outside the paywall: https://t.co/w74fGY9zV7 @ICIJorg

[Chandra Slack Wallace @ChandraSWallace]

Don't miss the latest from our team!

[Lauren Loricchio @LaurenLoricchio]

New from me, @PaezWrites, @KiarraStrocko, and @ChandraSWallace Inside How Private Placement Life Insurance Slips Through the Cracks. Read more in @TaxNotes (outside the paywall) https://t.co/8mlkZBV0UF

[Cady Stanton @cady_stanton]

Vibe check on the Ways and Means side: Rep. Arrington, cornered at the elevators by tax reporters: “Press that button and get me out of here!”

[Doug Sword @doug_sword]

$35B for child tax credit, same for TCJA breaks, with immediate end to ERC is the current state of play for tax package, Rep. Don Beyer says leaving Dem caucus briefing. @TaxNotes

[Cady Stanton @cady_stanton]

Ways and Means chair Jason Smith told reporters there were "great conversations" today about a tax deal, but "there's no timeline." The merry-go-round continues. 🎠

[Chandra Slack Wallace @ChandraSWallace]

@PNCBank_Help Message sent. Thanks very much.

[Chandra Slack Wallace @ChandraSWallace]

@PNCBank_Help More good news! The fraud department picked up at 9:20 . . . to tell me that they can't access my account now because the servers are down between 9 and 11pm Eastern. I need to . . . call back later.

[Chandra Slack Wallace @ChandraSWallace]

@PNCBank_Help I've been on hold trying to get an unwarranted fraud hold off my business card for 97 minutes and counting. Can you help? I need to book my work travel.

[Lauren Loricchio @LaurenLoricchio]

The IRS has quietly rolled out identity proofing for Freedom of Information Act requests submitted through its online portal, a development that some transparency advocates find concerning. From me in @taxnotes https://t.co/ijXL4hJJXR

[Lauren Loricchio @LaurenLoricchio]

Offshore life insurance is being promoted as a way to avoid taxes on the sale of closely held businesses, a practice some industry professionals think may stretch IRS rules to the breaking point. From me, @paezwrites, @kiarrastrocko, and @chandraswallace https://t.co/wcnNxMXux0

[Justin Schwegel @jlschwegel]

@BrooksCottleCPA @joebwan @ChandraSWallace @TaxNotes This companion article goes deeper into the evidence that this is likely what happened. https://t.co/WwMgmbchkd

[Joe Kristan @joebwan]

"How Many EITCs Were Lost When IRS Destroyed 30 Million 1099s?" - @ChandraSWallace @TaxNotes https://t.co/zc0BG2ePhu

Low income filers "faced automated correspondence exams... because the IRS said the Forms 1099 for their non-employee income were missing or 'not submitted.'"