With the GOP takeover of the Senate, Mike Crapo’s new role as incoming leader of the Senate Finance Committee thrusts the behind-the-scenes operator into the spotlight as tax policy takes center stage. https://t.co/jrIe0jkpDm
Minister: "We need to take up the tax"
#Groucho: "I'd like to take up the carpet."
Minister: "I still insist we take up the tax."
#Groucho: "He's right - you've gotta take up the tacks before you can take up the carpet" #DuckSoup 1933
Column: The OECD-led global tax deal is in shambles. The pact started as a Utopian idea that set out to salve hundreds of countries but wound up appeasing almost no one. https://t.co/pNFCaJ9hms
Next year will be a big year for tax reform -- I'm working to help the @NewDemCoalition get prepared. I talked with @ReporterCioffi about how I think we can create tax policy that supports the middle class and stands the test of time -- take a listen ⬇️ https://t.co/TfTU8oyjzT
NEW: Nevada Dem Steven Horsford is planning legislation to make tips tax free and raise the minimum wage for tipped workers.
Latest sign of momentum in Congress for tax-free tips.
https://t.co/DoRILIoSZE
Kashi Way became the first US Tax Court judge nominated by President Biden confirmed to its 19-seat bench, as the Finance Committee primed the judge confirmation pump with three more nominees. https://t.co/my5FScZ3Qd
A way for companies to get around the new 15% US minimum tax on financial-statement income: Use the leeway the accounting rules afford them to boost their costs, and thus reduce income and cut their tax bills. My latest deep dive for Bloomberg Tax. @tax https://t.co/GxdwCFjMz1
The Supreme Court abandonment of a legal doctrine empowering federal regulators is triggering many in the tax industry to rethink how they advise clients. https://t.co/laURQU4pLE
New: Deputy Treasury Secretary Wally Adeyemo told me businesses have an incentive to comply with the IRA’s wage and apprentice tax credit provisions “because if they don’t, the IRS is committed to audit” them to make sure they’re playing by the rules.
https://t.co/Au1CymHmjf
The IRS has recovered more than $1 billion from millionaires who failed to pay their tax debts, doubling the total collected from its last update earlier this year. https://t.co/6kGrl5BDeE
Revival trusts, which would allow people who get their bodies frozen after death to have their money when they’re resurrected someday, are being taken seriously enough to attract discussion among industry professionals. https://t.co/BbM4d3Wne8
The IRS’s most controversial regulations are more vulnerable to litigation after the Supreme Court overturned a legal doctrine empowering federal regulators, as companies and individuals seek a fair shake from the agency. https://t.co/r4OA8FhBtY