Iowa sales tax holiday! The silly Iowa sales tax holiday for clothes is tomorrow and Saturday. From the Iowa Department of Revenue website:
- Exemption period: from 12:01 a.m., August 2, 2013, through midnight, August 3, 2013.
- No sales tax, including local option sales tax, will be collected on sales of an article of clothing or footwear having a selling price less than $100.00.
- The exemption does not apply in any way to the price of an item selling for $100.00 or more
- The exemption applies to each article priced under $100.00 regardless of how many items are sold on the same invoice to a customer
While it is touted as a “back to school” holiday, there is no classroom requirement.
Sales tax holidays are silly gimmicks and bad tax policy. Yet if you are a careful shopper, you can save on a new outfit in Iowa and take it to Louisiana for their September 6-8 sales tax holiday on firearms.
Cara Griffith, Back-to-School! Time for a Holiday (Tax Analysts blog)
Fifty-five-year-old Robert Duncan was sentenced by U.S. District court judge John Jarvey after entering a guilty plea. That plea came back in March.
Duncan admitted to defrauding the SSA, filing a false income tax return and making a false statement to a financial institution.
The former owner and auctioneer for Bob Duncan and Associates, was also ordered to pay restitution to the Social Security Administration in the amount of $218,755.10, and to the Internal Revenue Service in the amount of $42,254.00.
The IRS did nothing wrong, and besides they did it to lefties too! That has been one line of argument by the “nothing to see here” folks who pooh-pooh the IRS harassment of Tea Party groups. Now NPR, not known as a friend of the Tea Party, has run the numbers, and it looks like… the IRS harassed conservative outfits, and pretty much left the left side alone:
Nothing to see here, move along… For example, Ways and Means–still distracting with false scandals (Linda Beale).
TaxProf, The IRS Scandal, Day 84.
Sioux City Journal, Iowa-based group at center of new IRS accusations
Tax Justice Blog, What the President Really Said about Business Tax Reform:
What the President just proposed is not much different from his previous proposals.
That’s the problem.
William McBride, Obama’s Grand Bargain a Roundabout Way to Raise Corporate Taxes (Tax Policy Blog)
William Perez, Some Senators Release Their Blank Slate Tax Reform Ideas
Jim Maule, Polishing Subchapter K: Part I. Prof. Maule has some ideas for partnership taxation.
Missouri Tax Guy, Business Structures, Choosing your Entity
Peter Reilly, North Carolina Declares Cash Register Zappers Contraband . The government doesn’t like skimming software.
Robert D. Flach has some thoughts on THE IRS AND NJDOT WEBSITES
Tony Nitti, MLB Trade Deadline Winners And Losers: The Tax Edition. Through no fault of his own, Bud Norris goes from income tax-free Texas to high-tax Maryland. On the positive side, he won’t be playing for the Astros any more.
Tracy Gordon, Detroit’s Pension Blues, and America’s (TaxVox) Defined benefit pensions for public employees should be outlawed, and their assets converted to defined contribution plans.
The Critical Question: Were ‘Real Housewives’ Stars Targeted For Prosecution Because Of Their Celebrity? (TaxGrrrl). If you are going to cheat on your taxes, it may be wise to not put your life on television.
Tags: Anthony Nitti, IRS disclosure scandal, Linda Beale, Robert D Flach, tax crime, Tax Justice Blog, Tax Trials, TaxGrrrl, TaxProf, The Critical Question, Tracy Gordon, William McBride, William Perez