I wrote yesterday about Gov. Terry Branstad’s call for corporate income taxes, and how I’d be OK with a deal that cuts rates but also eliminates credits/loopholes.
Mike Owen, executive director of the Iowa Policy Project (congrats on the recent promotion) took some issue with my conclusions in an email…
You might not be surprised that the Iowa Policy Project thinks there’s a perfectly reasonable explanation for Iowa’s highest-in-the-nation corporation tax rate, and that taxes should be higher. You may also know how I feel about that.
Kyle Pomerleau, Another Understatement of the Corporate Tax Rate:
The U.S. News and World Report published an article today titled “The Global Race to the Bottom in Corporate Taxes.” …
It also outlines the vast complexity of the tax system. According to one tax advisory cited in the article, his firm’s clients are “horrified by complexity and cost of filing their taxes in the U.S.”
Welcome to the U.S.
Joseph Thorndike, Wealth Taxes to Cure Inequality? How About Tax Reform Instead. (Tax Analysts Blog). How about questioning whether inequality is something that needs a “cure,” or even can be cured? Then ask whether the tax law is safe and effective medicine. I’d argue no.
TaxProf, The IRS Scandal, Day 76
David Brunori, Don’t Cheat the Tax Man (wink, wink) ITax Analysts Blog):
What the nanny staters in Washington don’t understand is that prohibition, whether direct or indirect through the tax laws, doesn’t work. It did not work for alcohol. It did not work for marijuana. It will not work for cigarettes. Prohibition does not work because free men and women want to make their own decision about what they drink, smoke, eat, etc. And they act rationally.
If only legislation did so.
Jason Dinesen, When Do Dependents Have to File a Tax Return?
Robert D. Flach, THE BIGGEST LOSER, on the tax laws mistreatment of gambling income.
Howard Gleckman, The OECD’s International Tax Plan: The First Step on a Long Road (TaxVox)
Tax Justice Blog, New CTJ Report: Reforming Individual Income Tax Expenditures
They really don’t want this guy to set up shop again. A July 23 press release from the Department of Justice says:
The Justice Department announced today that it has asked a federal court to bar Ronald Manis of Carbondale, Ill., from preparing tax returns for others. The civil injunction suit, filed in the U.S. District Court for the Southern District of Illinois, alleges that Manis routinely prepares federal tax returns for individuals and corporations improperly claiming deductions that result in his customers understating their federal tax liabilities.
Nothing extraordinary there, other than that there would be anything untowards happening in Carbondale. But further down in the press release there’s this (my emphasis):
In September 2011, Manis pleaded guilty to willfully failing to file his own federal income tax returns for 2003, 2004, 2005 and 2006, and was sentenced to three months in prison. According to the government complaint, Manis was released from federal prison on July 20, 2013.
They don’t seem to want to let him participate in the upcoming tax season at all.
Tags: cavalcade of risk, TaxProf, David Brunori, Robert D Flach, tax preparers, TaxGrrrl, Howard Gleckman, Jack Townsend, Branstad tax policy, Jason Dinesen, Kyle Pomerleau, Tax Justice Blog, Todd Dorman, Joseph Thorndiike, Carbondale