Time is short today, so just a few highlights:
You know how the IRS is just starved of cash? They’re being forced to scrape by on about their 2010 funding. The horror!
Jason Dinesen, Work Opportunity Credit Mathematical Computations
Robert D. Flach, TAXPAYERS SCREWED BY TAX COURT:
If the taxpayer can provide proper documentation that the money was actually given to the charity, via cancelled checks, and that it was an actual charitable donation, via an acknowledgement from the charity, and the charity confirms to the IRS or the Tax Court either in writing or by oral testimony that no goods or services were provided, the deduction should be allowed.
That would be too sensible.
David Brunori, Governor Christie Does Not Understand Tax Policy (Tax Analysts Blog):
Like many governors, New Jersey’s Chris Christie is not well versed in the principles of sound tax policy. In fact, if recent events are an indication, he is ignorant of the basic concepts…
The bill Christie vetoed would have exempted business purchases of various software from sales tax. That is classic good tax policy. His veto is classic bad tax policy.
Sadly, he has plenty of political company.
Alan Cole, A Partial Defense of the Mortgage Interest Deduction (Tax Policy Blog):
The mortgage interest deduction is one of the most frequently-criticized elements of the entire tax code. We have written that it distorts investment towards owner-occupied housing. It is also regressive, in that it doesn’t benefit renters or standard deduction filers, both of whom are generally poor. It adds a small layer of complexity to the tax code, which should generally be avoided. It looks for all the world like a social engineering effort.
All of these accusations, unfortunately, are quite true. And yet, I would stop short of saying the mortgage interest deduction absolutely must be eliminated. A scary truth about our tax system is that owner-occupied housing is one of the few types of capital treated somewhat correctly.
The problem is really the tax system’s abusive taxation of capital.
Peter Reilly, IRS Eases Up On War Tax Resisters
Tax Justice Blog, Remembering an International Tax Expert and Voice for Tax Justice
Allison Christians, Here is the only reason why Ted Cruz’s citizenship is interesting.
The Critical Question: What If Your Tax Professional Vanishes? (Russ Fox)
I’ll, er, drink to that. Why Legal Marijuana is a Good Argument for Tax Reform (Howard Gleckman, TaxVox).