Posts Tagged ‘News from the Profession’

Tax Roundup, 3/3/16: IRS sets up ID theft victims for another round. And: if you don’t have kids, there’s Craigslist!

Thursday, March 3rd, 2016 by Joe Kristan
This convicted ID thief likely was a first-day filer.

The kind of criminal mastermind ID thief that continually outwits the IRS.

There is no bottom. Every time I think that the John Koskinen’s IRS couldn’t possibly be less competent, they prove me wrong. Identity Thieves Bypass IRS Protections for Previous Victims (Tom VanAntwerp, Tax Policy Blog):

The IRS provides an Identity Protection PIN (IP PIN) to victims of identity theft with the goal of preventing it going forward. This IP PIN is mailed to individuals at the start of tax season, and is required to file a return. But the IRS also allows taxpayers to retrieve their IP PIN online by answering the same kinds of knowledge-based authentication questions that let thieves take advantage of the older Get Transcript website.

Computer crime reporter Brian Krebs published this account of Becky Wittrock, a previous identity theft victim whose IP PIN was compromised:

“I tried to e-file this weekend and the return was rejected,” Wittrock said. “I received the PIN since I had IRS fraud on my 2014 return. I called the IRS this morning and they stated that the fraudulent use of IP PINs is a big problem for them this year.”

Wittrock said that to verify herself to the IRS representative, she had to regurgitate a litany of static data points about herself, such as her name, address, Social Security number, birthday, how she filed the previous year (married/single/etc), whether she claimed any dependents and if so how many.

“The guy said, ‘Yes, I do see a return was filed under your name on Feb. 2, and that there was the correct IP PIN supplied’,” Wittrock recalled. “I asked him how can that be, and he said, ‘You’re not the first, we’ve had many cases of that this year.’”

Wittrock noted that the IRS representative said that they would be moving away from using the IP PIN in the near future and replacing it with a different system. No details are known about how this new system might function or if it will avoid the insecure knowledge-based approach to authentication.

Through lax IRS controls, the IRS lets a thief file a return in your name. You go through a long, exasperating process to straighten things out. Meanwhile, the IRS sits on your refund, even though it promptly wired cash to the thief. Then they give you an IP-PIN and assurance that it won’t happen again. And it happens again.

I never thought Doug Shulman would lose his crown as Worst Commissioner Ever. I wish I were right about that. And they think they should regulate preparers because we’re incompetent and out-of-control.

More coverage:

TaxProf, The IRS Is Using A System That Was Hacked To Protect Victims Of A Hack—And It Was Just Hacked

Taxable Talk, The Most Terrifying Words in the English Language Strike Again

 

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TaxGrrrl, On Dr. Seuss’ Birthday, Oh, The Taxes You’ll Pay!:

More taxes!
Whether you like it or not,
Taxes will be something
you’ll pay quite a lot.

Oh, but the IRS will take such good care of it, you’ll not mind, not one little bit!

 

Peter Reilly, Tax Losses From Genetically Engineered Deer Allowed. “The purpose of the selective breeding is to get deer with really impressive head gear.”

Kay Bell, Doing the weird and wacky tax deduction dance. Yes, deer.

Leslie Book, Follow up On Clean Hands Post: The Imposition of Penalties and How Using a Preparer Does Not Automatically Constitute Good Faith and Reasonable Cause (Procedurally Taxing). “At the end of the day, the opinion is certainly a warning that merely hiring a preparer is not enough, and proving reliance on an advisor requires perhaps a bit more focus than a taxpayer’s testimony that the accountant prepared the return.”

 

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Scott Drenkard, Philadelphia Mayor Proposes Gigantic Soda Tax (Tax Policy Blog). It’s the tax that’s gigantic, not the pop serving.

Donald Marron, Budgeting for federal lending programs is still a mess (TaxVox). A good reason to not have federal lending programs.

TaxProf, The IRS Scandal, Day 1029

News from the Profession. Accounting as Performance Art? Sure, Why Not? (Caleb Newquist, Going Concern)

 

You can get anything on Craigslist! Even dependents, it seems. From a Department of Justice press release:

Tammy Dickinson, United States Attorney for the Western District of Missouri, announced today that an Ozark, Mo., man has been indicted by a federal grand jury for filing false income tax returns after he advertised on Craigslist to purchase identity information for children that he could claim as dependents.

Raheem L. McClain, 37, of Ozark, was charged in a three-count indictment returned under seal by a federal grand jury in Springfield, Mo., on Feb. 23, 2016. That indictment was unsealed and made public upon McClain’s arrest and initial court appearance on Tuesday, March 1, 2016.

The federal indictment alleges that McClain caused an advertisement to be posted on Craigslist on Jan. 16, 2015, stating:

“WANTED: KIDS TO CLAIM ON INCOME TAXES – $750 (SPRINGFIELD,MO)

IF YOU HAVE SOME KIDS YOU ARENT CLAIMING, I WILL PAY YOU A $750 EACH TO CLAIM THEM ON MY INCOME TAX. IF INTERESTED,REPLY TO THIS AD.”

In a way, it makes economic sense. It would let people whose incomes are too high monetize otherwise useless dependents. But as you might have gathered from the word “indictment,” the tax law frowns on this sort of thing.

 

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Tax Roundup, 3/2/16: It’s your fault. You trusted us! And: don’t get phished.

Wednesday, March 2nd, 2016 by Joe Kristan

coupling20160213Insults always convince the insulted. Those dumb small businesses, thinking Congress and the legislature would do what they have been doing every year. That’s apparently the take of Iowa Senator Robb Hogg, reports the Caffeinated Thoughts blog:

State Senator Robb Hogg (D-Cedar Rapids) was very critical of small business owners and farmers who have contacted their legislators urging their support on coupling with federal tax changes which encourage growth in Iowa’s economy. Even worse, Senator Hogg shifted the blame from the inaction of Senate Democrats to Congress.

“I understand there are a lot of big crocodile tears being shed over this issue,” Hogg said. “Congress is to blame.”

“Those investment decisions have been made and maybe people had this belief that it might or would happen, but that doesn’t justify their claim that they were counting on it.”

Congress has renewed the higher Section 179 limit every year since 2009, and Iowa has coupled with the $500,000 limit since 2010. There was no indication that Iowa would do anything different until the Governor said otherwise in January. Either way, it’s still a big tax increase just as the ag economy is sagging.

I’ll also add that Sen. Hogg misuses the term “crocodile tears.” Per phrases.org.uk:

Meaning

To weep crocodile tears is to put on an insincere show of sorrow.

Origin

The allusion is to the ancient notion that crocodiles weep while devouring their prey. Crocodiles do indeed have lachrymal glands and produce tears to lubricate the eyes as humans do. They don’t cry with emotion though. Whatever experience they have when devouring prey we can be certain it isn’t remorse.

There’s nothing insincere about the sorrow of finding your taxes increased. The term is better reserved for someone who says, gee, too bad we need to take more of your money, but we sure do need to spend it.

Still, the tactic of criticizing your constituents is an interesting approach. It does seems to work on a national level lately.

 

Kay Bell, March arrives not as lion or lamb, but as a fish phish:

In this latest phishing ploy, one of several the IRS has seen surging this tax-filing season, the faux corporate execs are asking for payroll data, including W-2 forms that contain Social Security numbers and other personally identifiable information.

“This is a new twist on an old scheme using the cover of the tax season and W-2 filings to try tricking people into sharing personal data. Now the criminals are focusing their schemes on company payroll departments,” warns IRS Commissioner John Koskinen.

“If your CEO appears to be emailing you for a list of company employees, check it out before you respond,” adds Koskinen. “Everyone has a responsibility to remain diligent about confirming the identity of people requesting personal information about employees.

Just this morning I got an email from someone I never heard of with a heading: “W2 Information EIN: 13-2655998.” Don’t click on this sort of thing. It’s bad news.

 

Kristine Tidgren, A New Farm Year Begins: Pay Taxes and Perfect Landlord’s Lien! (AgDocket)

Hank Stern, Aetna joins the parade (InsureBlog):

Aetna, and its Coventry affiliate, becomes the next major player to cry “no mas” on new business. In email this morning:

We will not pay commissions for sales with coverage effective dates after March 1, 2016, and continuing through December 31, 2016 effective dates.  This applies to on- and off-exchange business.”

If an insurance company doesn’t pay commissions, it’s a safe bet that they aren’t making money on the product.

Robert Wood, To Fight IRS Tax Bills, Go Step By Step

 

William Perez, Tax Advice for Cannabis Entrepreneurs. Interestingly juxtaposed with another post:

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It’s certainly conceivable that someone could find both posts useful.

 

Jason Dinesen, Sometimes I Wish I Could Just Prepare 1040-EZs.

 

 

Scott Drenkard, Celebrating 75 Years of Facts & Figures (Tax Policy Blog):

Today we released the 2016 edition of Facts & Figures, our pocket- and purse-sized booklet on quick tax facts. This publication has a long history—it dates back to 1941, when our think tank (which was just four years old at the time) published a booklet that was both a source of otherwise hard-to-find government data, and also a treasure trove of infographics to illuminate that information.

The Tax Foundation continues to be a valuable source of tax data and analysis, even though some folks don’t like the math.

TaxProf, The IRS Scandal, Day 1028

Renu Zaretsky, What comes after a big night for Clinton and Trump? The TaxVox headline roundup covers the Super Tuesday results and other tax news.

News from the Profession. FLASH: Sales, Accounting Personnel Face Pressure to Meet Revenue Goals (Caleb Newquist, Going Concern).

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Tax Roundup, 2/26/16: Gronstal hints at approach to Section 179 coupling deal. And: Yes he can! (Release his returns)

Friday, February 26th, 2016 by Joe Kristan

couplingInteresting, if true. In opening hostage negotiations over the fate of Section 179 coupling, Iowa Senate Majority Leader Gronstal may have hinted at a “Main Street vs. Walnut Street” approach. From wcfcourier.com:

If the choice is between offering tax relief to a limited number of manufacturers “or taking care of 30,000 farmers, 25,000 small businesses,” Gronstal said he would “gravitate more toward the 50,000 or 60,000 effort to help those folks (rather) than something that is much more narrow in terms of its impact.”

I say “may have” because I think he is hinting at trying to get the Governor to reverse its regulatory change to sales tax rules on manufacturing supplies.

By “Walnut Street,” I refer to downtown Des Moines, where several of the big law/lobbying firms in town have their offices (Nothing against Walnut Street — that’s where Tax Update World Headquarters is located, too).  Whether or not Sen. Gronstal realizes it, the coupling issue is ultimately about whether to benefit a handful of insiders and big companies benefitting from special tax benefits, or whether to further the interests of the rest of the taxpayers who pay for any special deals.

The revenue cost from adopting the $500,000 Section 179 limit for Iowa is estimated around $90 million. Eight taxpayers by themselves claimed $35 million in research credits in 2015, of which around $30 million were paid to the companies in cash because they exceed the claimants income tax bills. Just last week the state promised $15 million to DuPont as a location incentive. The potential loss of Section 179 deduction is making its many beneficiaries suspicious of the multi-million dollar “economic development” tax credits that benefit relatively few insiders with lobbyists.

Walnut Street back in the day.

Walnut Street back in the day.

While Senator Gronstal will insist on concessions for passing the bill, I expect he will reach a deal without insisting on his full pound of flesh. More than anything else, he wants to remain Majority Leader, with control over whether legislation lives or dies. He has only 26-24 control of the Senate. If he is perceived as blocking coupling, it may be just enough to tip a close race or two against his party. I think his reference to the “50,000 or 60,000” shows he’s aware of this. That’s why I think an agreement to couple with the federal limit is now likely in the next two or three weeks. I have no insider information to confirm this guess.

Related: Me, Tax season impasse: why your 2015 Iowa tax return may be on hold. My new post at IowaBiz.com, the Des Moines Business Record Business Professional’s Blog.

Other coverage: Des Moines Register, Gronstal opens door to Iowa tax-coupling deal

 

Yes he can! Trump says he can’t release tax returns because he’s being audited (marketwatch.com). That’s not true, of course. While it’s illegal to release someone else’s returns without their permission, you can make your own returns public any time. The IRS doesn’t make you sign some sort of confidentiality agreement when they audit you.

Like every other silly thing he says, this probably will probably increase his standing in the polls.

Related: TaxGrrrl, Trump Won’t Release Tax Returns, Citing IRS Audit: Is It A Legitimate Excuse? “Trump could absolutely release those returns now – even in the middle of an audit.”

 

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Tony Nitti, Beachbody Coach? Rodan & Fields Consultant? At Tax Time, Beware The Hobby Loss Rules. “If your Facebook feed is anything like mine, videos of clumsy toddlers and unlikely animal pals have recently given way to a relentless string of friends pushing side businesses.”

Kay Bell, Penalty for late tax filing increases in 2017. “Starting in 2017, if you send in your Form 1040 (and additional forms and schedules) more than two months after the return is due, you’ll be slapped with a penalty of $205 or 100 percent of your due tax, whichever amount is smaller.” Another example of the ugly practice of funding the government through penalties instead of taxes.

Keith Fogg, Discharging the Failure to File Penalty in Bankruptcy (Procedurally Taxing).

Somehow I missed this: WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’ – SPECIAL TAX SEASON EDITION (Robert D. Flach). “An unprecedented tax season BUZZ!  Some good stuff that needs to be spread around now – and could not wait until April.”

Andrew Mitchel, Charts of Examples in Rev. Proc. 91-55: Form 5472 & Direct and Ultimate Indirect 25% Shareholders. A big issue when you have foreign owners of a U.S. corporation.

Robert Wood, Kanye West Could Still Get $1 Billion Tax Free. Why?

Jim Maule, Section 280A and the Tree House. “The reader asked, ‘Can a tree house qualify under the Section 280A rules? Can a tree house be depreciated?’ Though there’s no direct authority, careful reading of the applicable statute provides an answer.”

Party on Walnut Street.

Party on Walnut Street.

 

TaxProf, The IRS Scandal, Day 1023

Renu Zaretsky, Times get taxing for candidates… Today’s TaxVox headline roundup covers last night’s debate, candidate tax returns, and the lost credibility of the IRS under Shulman and Koskinen.

 

News from the Profession. Password Inundation: Password Policies We Love to Hate (Megan Lewczyk, Going Concern).

 

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Tax Roundup, 2/18/16: Lax IRS data security exposes taxpayer info. And more news!

Thursday, February 18th, 2016 by Joe Kristan

No Walnut STMaking it easy for the thieves. An appalling story in Tax Analysts today tells how the IRS leaves e-file identification numbers vulnerable: Flawed Authentication May Have Exposed E-File PINs ($link Now ungated – thanks, Tax Analysts!). Luca Gattoni-Celli writes on how primitive verification procedures facilitated an automated attack that compromised up to 101,000 taxpayers:

Jeffrey Eisenach, a visiting scholar at the American Enterprise Institute, characterized the IRS’s single-factor authentication process for the e-file PIN application as totally inadequate.

“The authentication that they are using now is something out of the 20th century,” said Eisenach, who directs AEI’s Center for Internet, Communications, and Technology Policy. “It’s hard to believe that the U.S. government checkbook would be so poorly protected in 2016.”

When asked about the apparent authentication requirements, Joseph Lorenzo Hall, chief technologist at the Center for Democracy & Technology, also said he found them disturbing.

SSNs, dates of birth, and the other required information described on the IRS Web pages “are not adequate as authenticators because they’re not secret,” Hall said. “These things are easy to discover about people,” he added, noting that stolen SSNs, which he said were created as identifiers, not security keys, are widely available on the dark Web.

Hall said the authentication process described on the IRS Web pages would have made the e-file PIN program extremely vulnerable to an automated attack of the type the IRS disclosed.

Yet the IRS insists they are ready to take on preparer certification too.

 

Flickr Image courtesy donjd2 under Creative Commons License.

Flickr Image courtesy donjd2 under Creative Commons License.

Scott Greenberg, A Proven Strategy for Boosting Investment (Tax Policy Blog):

At least within the field of tax policy, there is a simple and obvious policy solution for encouraging investments: ending the disincentive for business investment in the U.S. tax code.

Generally, U.S. businesses are allowed to deduct expenses in the year that they occur. However, when it comes to capital expenses, businesses are required to spread out the deduction over time periods ranging from 3 to 50 years. As a result, the U.S. tax code does not allow businesses to deduct the full cost of capital investments, in present value terms; in a recent paper, I estimated that, over time, corporations are only able to deduct 87.14 percent of the costs of investment.

In other words, the U.S. tax code distorts business decision-making by encouraging businesses to spend their money on salaries, ordinary expenses, and paying down debt (all of which lead to an immediate deduction) and not to spend their money on investment (which leads to a delayed and reduced deduction). If businesses were allowed to immediately deduct the full cost of their capital investments – a policy known as full expensing – this distortion would disappear.

The Section 179 deduction does this on a small scale, but Iowa’s political leadership is having none of it.

 

KIWAradio.com, Donations Dwindle For Chickadee Checkoff. “Donations to the Fish and Wildlife Fund, also known as the “Chickadee Checkoff,” go directly to research and habitat development for some of Iowa’s most vulnerable animal species. The checkoff was created by state lawmakers in 1981. At its height, Iowans donated more than $200,000 annually to the fund.”

Kay Bell, H&R Block CEO says some tax simplification necessary. But not enough to make people stay away from H&R Block!

Peter Reilly, Oxymorons In The Tax Law Can Not Be Fixed With Clever Ideas. “The clever idea that Larry and Dora Williams had was to generate some passive income to abosorb their passive losses.”

Joni Larson, Changes to the Rules of Evidence Applied in the Tax Court (Procedurally Taxing).

TaxGrrrl, Understanding Your Tax Forms 2016: 1099-DIV, Dividends And Distributions.


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David Brunori, Transfer Pricing Is All the Rage — in the States (Tax Analysts Blog). “When proving arm’s-length pricing, the side that can spend the most on good lawyers, accountants, and economists almost always wins.” That’s where kangaroo courts come in.

TaxProf,The IRS Scandal, Day 1015. Why would you think it odd that the IRS hasn’t acted on an exemption application for six years, you silly wingnuts?

Renu Zaretsky, Simple is as simple costs. Today’s TaxVox headline roundup covers the Cruz tax plan, on-line sales tax legislation, and tax finagling involved in financing the Harry Potter films.

 

Is there anything they can’t do?

Clinton Calls for Expanding Housing Tax Credits (Tax Analysts, subscriber link)

H.R. 4563 Would Provide Credit for Zika Vaccine Research (Tax Analysts, subscriber link)

 

News from the Profession. Tax Season Scares Millennials (Caleb Newquist). That just means they’re paying attention.

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Tax Roundup, 2/17/16: Nationwide ‘unregulated’ tax practice regulated out of business. And: Where’s Roger?

Wednesday, February 17th, 2016 by Joe Kristan

20150921-1The Wild West of Unregulated Tax Practice. Well, not entirely: Federal Court Shuts Down Nationwide Tax Preparation Business (Department of Justice):

A federal court in Chicago has ordered Servicios Latinos Inc. to close its nationwide tax preparation business, the Justice Department announced today.  The order comes after the Justice Department filed a civil lawsuit against the business and its owners, Georgina Lopez, Pamela Miranda and Jorge A. Miranda, alleging that the defendants falsely understated their customers’ tax liabilities or overstated their customers’ entitlement to a tax refund.  The injunction also prohibits Lopez, Pamela Miranda and Jorge Miranda from acting as federal tax preparers, owning or operating tax preparation businesses and employing tax preparers.  The defendants agreed to entry of the injunction, but did not admit the allegations in the complaint.

The abortive IRS preparer program had an ethics component. I’m sure that this would never have happened if the barred preparers had attended a one-hour ethics CPE course.

They were successful, until now:

According to the complaint, Servicios Latinos operated out of approximately 84 stores in as many as 30 states, with locations including Kennet Square, Pennsylvania; Kansas City, Missouri; and Las Vegas, Nevada. 

They probably had many clients who were delighted at the big refunds that the stodgy preparers down the street were too timid to claim. The press release says the now-closed firm’s alleged stock in trade included phony child tax credits and earned income tax credits. Sometimes a big refund can turn out to be expensive. Now their satisfied clients can look forward to their “Dear Taxpayer” letters.

This shows that the government has powerful tools to shut down bad actors. Regulation would not improve the conduct of good preparers, but it would saddle them with useless expense and paperwork. It’s just another form of occupational licensing, this time to the benefit of the national tax prep franchise outfits.

 

RMceowenPaul Neiffer, Welcome Aboard Roger McEowen:

Roger just recently left the Center For Agricultural Law and Taxation (CALT) at Iowa State University and I am pleased to let everyone know that he has agreed to join CliftonLarsonAllen as a tax director for our Agribusiness and Cooperative group.  He will be based out of Des Moines and will continue to do his normal seminars around the country and provide additional advice for our clients on income and estate tax and succession planning (along with other advice).

Roger recruited me as a speaker for the CALT Farm Tax Schools for the past several years. Congratulations, Roger, on your move to the private sector!

 

186 companies get refunds under Iowa R&D tax credit (Des Moines Register):

Critics of the program have questioned why so few companies claim such a large part of the tax credits. They’ve also questioned why the state is providing companies with money when it faces tight budgets.

Supporters of the research activities tax credit, however, have said the tax credit helps the businesses decide where to locate and where to conduct their research. Providing the tax credit helps spur investment in Iowa, some have said.

People who get free money always have good reasons why it should keep coming.

Related: What Iowa considers more important than Sec. 179. 

 

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Jason Dinesen. Glossary: Form 8332. “Form 8332 is a tax form signed by a custodial parent to release their claim to a dependency exemption for a child and give it to the non-custodial parent.” It’s a wonderful way to enable parents to continue fighting long after the divorce is final.

TaxGrrrl, Understanding Your Tax Forms 2016: Form 1099-INT, Interest Income. “The ‘FATCA filing requirement’ box is ticked if the information reported on this form is required by rule or statute to comply with the Foreign Account Tax Compliance Act (FATCA). If this box is checked, you may have your own FATCA related reporting requirements, including the filing of a Report of Foreign Bank and Financial Accounts (FBAR).”

Russ Fox, Board of Equalization Excoriated for Ignoring the Law and Binding Precedents, “This is just another reason why the business climate in California is so dreadful.”

Kay Bell, Louisiana budget gap could shut down LSU football. The most important function of the state university system, apparently.

Jack Townsend, The Revenue Rule: Is It Relevant Any More? Should It Be? “Historically, the ‘Revenue Rule’ has been a barrier to one country seeking to collect taxes in another country.”

Keith Fogg, Why is the IRS Collecting Taxes for Denmark? ({rocedurally Taxing)

Peter Reilly, How Valid Is Tax Foundation Dynamic Scoring? It’s all modeling, which is always questionable. Still, taxes do matter. The same people who insist 70% tax rates won’t be ruinous insist soda taxes affect behavior. They’re half right that way.

Robert Wood, Kim Kardashian + Kanye West File Taxes Separately. Maybe You Should Too. If I were married to Kim Kardashian, I absolutely would.

 

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Ajay Gupta, Justice Scalia’s Tax Law Jurisprudence—Just as Acerbic and Prophetic (Tax Analysts Blog). “In cases involving the interpretation of federal tax statutes, Scalia brought to bear his general disdain of legislative history.” And he was not a friend of commerce clause challenges to state taxes.

Michael Schuyler, What Would The Administration’s $10 Oil Tax Do To The Economy And Federal Revenue? (Tax Policy Blog). It would go into, among other things, “high-speed rail.

Howard Gleckman, Cruz’s Flat Tax + VAT Would Cut Revenues By $8.6 Trillion. If only there were a candidate with a plan that would improve the tax system and not increase the deficit

TaxProf, The IRS Scandal, Day 1014

Tax Justice Blog, Tax Justice Digest: Voodoo Economics — Corporate Tax Watch — Social Contract. Check out what the left side of the tax conversation is up to. Oddly, the words “social contract” don’t show up in the post. Maybe because I never signed it?

 

News from the Profession. Would an Accountant Ever Fall for a Phony IRS Call? “And if a CPA did get duped, it’s not like he or she could tell anyone about it. If they did, they’d literally die from the embarrassment.”

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Tax Roundup, 2/15/16: President’s Day. Bah. Humbug. And more Monday news!

Monday, February 15th, 2016 by Joe Kristan

20160215-1Today is President’s Day. I don’t care to honor presidents, as a class. They range from remarkable to vile, and they are in the end, just men with a job and great responsibility, often exercised badly.

It seems as good a day as any to ponder a well-buried scandal of the current presidency, the Tea Party scandal. It came to light with a staged admission by Lois Lerner that Tea Party groups had been singled out for special treatment” by the IRS. The admission was intended to get in front of an Inspector General report exposing the partisan mistreatment.

Peter Reilly has followed it closely, from a viewpoint more sympathetic to the IRS than mine. He recently mused, in a post on Day 1000 of the scandal:

The narrative that seems most plausible to me is Lois Lerner as the Agent From Hell.  AFH is my term for a certain type of IRS agent that I have thankfully only encountered a couple of times in my career.  AFH is not that technically astute, but AFH is dogged.  And AFH is certain that your client is up to no good.  AFH just hasn’t quite figured out what that no good is.  That was Lois Lerner and the Tea Party applications, only she had to do her work through minions.  Lois Lerner was passionate about the dark money issue and nobody else seemed to care. So she tortured her line agents to get them to torture bewildered applicants who were already pumped up on conspiracy theories. A perfect storm of bureaucratic bumbling coming across as brilliantly subtle conspiracy.

Toby Miles, IRS.

Toby Miles, IRS.

It was never realistic to think the scandal would bring down the administration, considering how carefully the media cheerleaders avoided the subject. But the lack of presidential involvement only leads to a more disturbing conclusion, one I discussed way back when the scandal was only in single digits:

I doubt the White House left fingerprints on IRS efforts to harass political opponents (though it didn’t lift a finger to stop it).   That leads to an even more depressing possibility: that the IRS went out its way to beat up on the President’s opponents on its own.  Nobody blew the whistle.  That means IRS management is so corrupt and political that it would go after the administration’s political opponents with only a wink and a nudge.  And anybody who doesn’t think this was politically-motivated is kidding themselves.

James Taranto puts it well:

And the IRS scandal was a subversion of democracy on a massive scale. The most fearsome and coercive arm of the administrative state embarked on a systematic effort to suppress citizen dissent against the party in power. Thomas Friedman is famous for musing that he wishes America could  be China for a day. It turns out we’ve been China for a while.

The self-weaponization of the bureaucracy against its political opponents is hugely depressing. The government workforce is overwhelmingly on the side of the political party that favors an ever-larger state. There are plenty of Lois Lerners in the IRS and throughout the Leviathan. The Tea Party scandal, and the complete lack of accountability for its perpetrators, gives no reason to hope those who don’t share that worldview can expect a fair shake. That’s especially true when the sitting president shows no interest in discouraging such behavior.

 

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Arnold Kling, David Brooks Sends a Valentine. “Brooks claims that the Obama Administration was scandal-free. I think it was more of a case that the mainstream press had his back. Could George Bush have survived the IRS scandal?”

David HendersonIs David Brooks Right about Obama? (Econlog):

But that’s not the worst. Among the worst is his administration’s use of the Internal Revenue Service to go after Tea Party groups. After claiming in May 2013 that any IRS targeting of political groups, if true, was outrageous and that he would hold the relevant people accountable, he has not. Lois Lerner has not been charged. That’s a scandal. It’s true that the scandal did not swallow years from Obama. Is the relevant criterion for a scandal whether it uses up a president’s years or whether the president’s employees use their discretionary power to go after political scandals? If the former, then a president can avoid a scandal by being evasive and shifting the topic, as Obama has done. That’s not integrity, by the way.

And it was true. Whether you believe the IRS was told to do it, or whether you believe the bureaucracy took it on itself to pursue ideological enemies, it was a dangerous ideological abuse of the tax agency that is going unpunished.

TaxProf, The IRS Scandal, Day 1010Day 1011Day 1012. Don’t recall major network coverage of the scandal? Day 1011 says that it’s not because you weren’t paying attention.

 

William Perez, Understanding Form W-2, the Annual Wage and Tax statement. “An overview of common problems with Form W-2, Wage and Tax Statement, plus a description of various items, codes and amounts shown on Form W-2.”

Annette Nellen, Video – What’s New for 2016 Filing Season

Jason Dinesen, When Are Purchases Made With a Credit Card Deductible?

Kay Bell, ‘Pharma bro’ Martin Shkreli facing $4.6 million tax lien

Jim Maule, Relying on Incorrect IRS Advice Spares Taxpayer Penalty. “The question of how to deal with incorrect advice from IRS employees has befuddled the tax practice community for decades.”

Robert Wood, Atkins Doctor Tax Evasion Conviction Upheld (How Not To Deal With IRS). Sometimes bad examples are the most useful ones.

Russ Fox, North Carolina Added to Bad States for Gamblers. “There’s no longer a deduction for gambling losses, so an amateur gambler residing in North Carolina who has $100,000 of wins and $100,000 of losses owes tax on the $100,000 of wins.”

TaxGrrrl, On Valentine’s Day: Getting A Tax Break After The Big Break-Up. “A Sarasota area Goodwill has your answer: make yourself feel better by donating your ex’s stuff to charity.” Well, compared to leaving it on the curb for the garbage man, it has its attractions.

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Tyler Cowen, Do higher marginal tax rates reduce income mobility? Marginal Revolution). “The idea that taxes matter is making a comeback in economics, though I am not sure you would get that impression from most of the economics blogosphere.”

Joseph Henchman, Justice Scalia’s Legacy and What Happens Next (Tax Policy Blog).

Don Boudreaux, Evidence that Donald Trump Is As Ignorant of Economics As Is Bernie Sanders (Cafe Hayek). File under “longest books ever written.”

Scott Greenberg, Checking Bernie Sanders’s Math (Tax Policy Blog). “However, under the Sanders tax plan, households in the middle of the economy would also be subject to two new indirect taxes: a 6.2 percent payroll tax paid by employers (for healthcare) and a 0.2 percent payroll tax paid by employers (for family leave). Virtually all economists agree that, even though payroll taxes are remitted to the government by employers, the burden of the payroll tax is born entirely by wage earners.”

 

News from the Profession. The ‘Everyday Jeans’ Policy Backlash Has Begun (Caleb Newquist, Going Concern).

 

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Tax Roundup, 2/12/16: I want my K-1. I want it now, Daddy!

Friday, February 12th, 2016 by Joe Kristan

Accounting Today visitors, click here for the post on password hygiene.

20160212-1No, your K-1 isn’t late. As even late 1099s are arriving, more and more taxpayers are ready to file their 2015 1040s. So why is that stupid partnership or S corporation taking so long to get me that 1099? Isn’t there a penalty for not getting that to me by the end of January?

No, there isn’t. First, it’s not a 1099, it’s a K-1. The earliest any K-1s are due is March 15, and that’s only for “electing large partnerships”  — typically publicly-traded ones (and if you own a bunch of these, expect a dirty look from your tax preparer, as they are time-consuming and therefore bill-increasing).

K-1s for S corporations are due March 15 for calendar-year corporations. Unlike with 1099s, though, the S corporation can get an automatic extension of the filing deadline until September 15. This is often needed because preparing a business return is a more complicated project than computing someone’s wages or interest income. It can be more complex still if the S corporation itself has to wait on…

Partnership K-1s. For 2015, these have an April 15 deadline that can be extended to September 15 (except for the publicly-traded partnerships due March 15). Preparing partnership returns can be devilishly complex, especially when partners come and go. The deadline becomes March 15 next tax season, but that just means more extensions will be filed.

Trust K-1s are also due April 15. Most bank trust departments can get their trust returns and K-1s filed in January and February, as they have all of the information at hand. If the trust has business or rental property, or is waiting on K-1s of its own, though, expect delays.

Remember, almost all pass-throughs are calendar year taxpayers. That means everybody is trying to get their returns done at once. We preparers do our best, but the pipe is only so wide.

Tax is hard. If you think preparing your 1040 is painful, it’s minor compared to doing a return for an operating business.  Look at the IRS publications for partnerships or S corporations if you don’t believe me. If you have to wait on your K-1, it’s not because the partnership, S corporation or tax preparer is indolent or incompetent. It just takes time to get it right — and when you have a bunch of 1040s that will be thrown off if you goof, you really want to get it right.

This is another in our irregular series of 2016 filing season tips

 

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Taxable Talk, Phishers Target Tax Professionals:

Tax professionals, be wary. There are phishing emails supposedly from the IRS targeting tax professionals. Now, we have supposed new clients emailing tax professionals. My mantra, if it sounds too good to be true it probably is, holds for tax professionals, too. Do not click on links that you do not know for certain are valid.

Read the whole thing for more good advice on protecting yourself.

 

William Perez, 3 States are Delaying Tax Refunds

Kay Bell, Full, permanent Internet access tax ban approved

Stuart BassinDistrict Court Certifies Class Action in Tea Party Challenge to IRS (Procedurally Taxing).

Robert Wood, IRS And Justice Department Push Tax Prosecutions

TaxGrrrl, Ask The Taxgirl: Solar Panels & Tax Credits

Kristine Tidgren, Iowa Court Denies Private Condemnation of Right of Way (AgDocket). “Iowa Code § 6A.4(2) confers the right to take private property for public use ‘upon the owner or lessee of lands, which have no public or private way to the lands, for the purpose of providing a public way which will connect with an existing public road.'”

 

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Howard Gleckman, Rubio’s Ambitious Consumption Tax Would Reduce Revenue by $6.8 Trillion, Give Most Benefits to the Highest-Income Households (TaxVox):

Senator Marco Rubio would convert the income tax into a progressive consumption tax, an ambitious idea that would eliminate the income tax’s penalty on saving. However, a new Tax Policy Center analysis finds that Rubio’s version would slash federal tax revenues by $6.8 trillion over the next decade with most of the benefits going to high-income households.

The “mostly benefits high-income households” is the most tiresome and useless cliché in tax policy. Considering that the high earners pay almost all the income taxes, any improvement to the (awful) system will inevitably benefit them disproportionately. But the possible revenue loss is a serious issue, if Rubio remains a serious candidate.

Alan Cole, The Most Important Chart from Tax Policy Center’s Analysis of the Rubio Plan (Tax Policy Blog). “Our latest estimates, calibrated for Washington’s traditional ten-year budget window, showed the plan reducing overall tax revenues by $6.1 trillion on a static basis, while TPC shows a reduction in revenue of $6.8 trillion.”

If only there was a candidate with a plan that would improve the tax system and not increase the deficit

 

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Megan McArdle, Obama’s Oil Tax Is Running on Empty. “The administration has made some gestures toward mitigating this opposition, notably by claiming that the tax will be paid by oil companies. But this is obvious nonsense.”

Carl Davis, More Details Emerge on President’s Proposed Oil Tax (Tax Justice Blog)

TaxProf, The IRS Scandal, Day 1009

Alex Durante, High Corporate Taxes May Increase Debt, Study Finds (Tax Policy Blog). “A new paper published in the Journal of Financial Economics finds that countries with high tax rates on corporate income also have higher corporate leverage ratios. This paper improves upon the methodologies of prior research that had struggled to confirm a link between tax rates and corporate structure.”

 

News from the… Profession? Area Police Department Offers Help to Drug Dealers Struggling With Tax Season Preparations (Caleb Newquist, Going Concern)

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Tax Roundup, 2/5/16: The IRS isn’t a bank, and a 1099 isn’t what makes income taxable. And: oil companies, money trees.

Friday, February 5th, 2016 by Joe Kristan

20151217-1Nice Try. The tax law discourages taxpayers from tapping retirement savings too early with a 10% early withdrawal tax. The tax law also allows an above-the-line deduction for penalties imposed by banks for closing out a CD or savings account before maturity.

They aren’t the same thing.

A Mr. Martin learned that lesson this week in Tax Court. He was 54 years old when he pulled out $55,976.29 from his IRA. He reported the 10% penalty tax, but then he also deducted it on line 30 of his 1040 as a “penalty on early withdrawal of savings.”

I can see the logic, as it does look like, well, a penalty on an early withdrawal of savings. But that’s not how the Tax Court sees it (my emphasis):

Martin argues that the additional tax imposed by section 72(t) is deductible under section 62(a)(9). We disagree. Section 62(a)(9) provides a deduction for an amount “forfeited to a bank, mutual savings bank, savings and loan association, building and loan association, cooperative bank or homestead association as a penalty for premature withdrawal of funds from a time savings account, certificate of deposit, or similar class of deposit.” The section 72(t) additional tax is payable to the federal government, not to a “bank” or similar institution listed in section 62(a)(9). Therefore, it is not deductible under section 62(a)(9). Further, the additional tax imposed by section 72(t) is a federal-income tax. Section 275(a)(1) disallows any deductions for “Federal income taxes” (A deduction for certain other taxes, including State income taxes and some other federal taxes, is allowed by section 164(a).).

There was one other problem with the return. He won $1,000 at a casino, an amount arguably below the threshold for which casinos most report gambling winnings on a W2-G. They reported it anyway. Again, the Tax Court:

The casino reported on an information return its $1,000 payment to Martin. Martin argues that, because he earned entries into the lottery by playing slot machines, his gambling winnings should be subject to the $1,200 reporting threshold. Thus, Martin argues, the casino should not have reported the gambling  winnings of $1,000 because the payment fell below the $1,200 reporting-requirement threshold for gambling winnings from slot machines.

Martin assumes that gambling winnings that are not reportable on information returns are not includible in gross income. At trial he said that the IRS is “trying to separate the taxation from the reporting when it is undeniably one and the same”. Martin does not see, or refuses to see, the distinction between information-reporting requirements and the imposition of income tax. Whether the casino was required to report Martin’s winnings is irrelevant to the question of whether his winnings are includible in his gross income. The Internal Revenue Code does not exclude a payment from income when the payment is not large enough to require the payor to report the payment on an information return.

A lot of people think that when something doesn’t show up on an information return, it’s tax-free. It just doesn’t work that way.

Cite: Martin, T.C. Memo. 2016-15

 

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Obama seeks oil tax, destruction of self-driving car industryCNBC reports:

President Barack Obama will propose a $10-per-barrel charge on oil to fund clean transportation projects as part of his final budget request next week, the White House said Thursday.

Oil companies would pay the fee, which would be gradually introduced over five years. The government would use the revenue to help fund high-speed railways, autonomous cars and other travel systems, aiming to reduce emissions from the nation’s transportation system.

“Oil companies would pay the fee.” Such a kidder, that President. Apparently the oil companies will pay it by planting more carbon-absorbing money trees out behind their refineries.

It’s a credit to misguided persistence that the President is still pursuing high-speed passenger rail, an idea that California is busy proving once again to be ridiculously expensive and impractical. And somehow I’d feel much safer in an autonomous car from Google or Apple than one from the the same government that brings us the IRS.

 

Scott Hodge, New IRS Data: Wealthy Paid 55 Percent of Income Taxes in 2014 (Tax Policy Blog).

distribution 2014 income

“So while many politicians may argue that the wealthy don’t pay their fair share of income taxes, the data simply does not support that opinion.”

 

Russ Fox, Maryland Suspends Processing Tax Returns from 23 Liberty Tax Service Locations:

For consumers, the advice that Maryland noted in their press release is accurate: “Taxpayers should carefully review their returns for these issues and should be suspicious if a preparer: deducts fees from the taxpayer’s refund to be deposited into the tax preparer’s account; does not sign the tax return; or fails to include the Preparer Taxpayer Identification number “PTIN” on the return.” I’ll add, if you don’t own a business and see business income on your return, there’s a problem.

Indeed.

Kay Bell, Lesson from IRS hardware failure: Be prepared for the unexpected during tax filing season. The hardware went back on line yesterday afternoon. 

TaxGrrrl, Update: IRS Website Back Online, Tax Refunds Unaffected

Peter ReillyIRS And The Tea Party – Scandal Enters A New Millennium. Peter observes The TaxProf’s Day 1000 Tea Party Scandal entry.

Keith Fogg, Discharging Late Filed Returns – A Novel but Unsuccessful Approach. “The case shows the creativity that can come into play in the face of very long odds.”

Robert Wood, Bank Julius Baer Hit With $547M Criminal Tax Evasion Penalty, Two Bankers Plead Guilty

 

Me, Tax credits for a few vs. business deductions for everyone. I take my battle against cronyism and for conforming Iowa tax law to 2015 federal changes to IowaBiz.com, the Des Moines Business Record Business Professional’s Blog.

 

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TaxProf, The IRS Scandal, Day 1,002. Another supposedly-erased hard drive sought by investigators miraculously reappears.

Megan McArdle, Obamacare’s Cadillac Tax Will Not Survive. The way pieces of the machine keep falling off, you might wonder if it wasn’t very well designed.

Renu Zaretsky, A Budget, Capital, Growth, and TransparencyToday’s TaxVox news roundup covers the Obama oil fee, last night’s Sanders-Clinton debate, and lots more.

News from the Profession. Lying About Your Financial Statements Being Audited Still Frowned Upon (Caleb Newquist, Going Concern).

 

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Tax Roundup, 2/3/2016: Should tax pros cheer tax complexity? And: 1000 Days of TaxProf scandal coverage.

Wednesday, February 3rd, 2016 by Joe Kristan
Remember, nobody else at the firm ever agrees with me.

Remember, nobody else at the firm ever agrees with me.

Am I more important than you? Yesterday’s post, where I left enough clues to enable people to determine which (losing) candidate I supported at the Iowa Caucuses, provoked this comment:

You voted for Rand Paul? Rand Paul who wants to pass a flat tax and put all the tax professionals out of business?

It’s a statement that verifies the darkest suspicions one might have of the tax profession.  Unless, of course, the commenter, who has “CPA” on his post name, is being sarcastic.

There is certainly a case to be made that an income tax like the one we have is the best way to raise revenue. You could make an honest case also that it is wise to use the tax law to achieve non-tax social goals. While I would disagree, such arguments have a long tradition and reasonable intellectual underpinnings. There’s an argument that in a complex economy, we should expect a complex tax system, and the need to hire tax professionals is a collateral cost to achieve a greater benefit.

But that’s not what the commenter is saying. He is saying that ensuring the ability of tax professionals to make a living off the tax system should be a policy goal. If he means more, he leaves it out; that’s the entire comment.

Sometimes taking an argument to its logical conclusion helps shed light on a system. What if we could magically create a tax system that would grow the economy by a million extra well-paying jobs a year, but was so easy to administer and comply with that it would eliminate the jobs of all 674,686 IRS- registered tax professionals? Oh, and it would cure cancer, too. An objective observer would choose the magical system, and would rightly regard any tax preparer who fought against it to preserve his own job as a monster.

The interest of tax preparers, while obviously important to me, can never be the primary concern of tax policy. Otherwise you would argue for ever-more complex taxes and ever-higher rates to make it harder to do without us. Considering the embarrassment of riches our current tax system offers to those of us who feast on complexity, arguing for more is both unconscionable and redundant.

That gets me back to Mr. Paul, who, according to my Twitter feed, will leave the race today. His tax proposal is a version of a consumption tax that, according to the Tax Foundation’s dynamic projections, would both reduce the budget deficit and grow the economy. It is the only plan that would do both. In contrast, the Bernie Sanders plan would do awful things to the economy, but it would sure make tax preparers more valuable. While people I respect support Sanders for reasons I find incomprehensible, none of them do so to make a living off of forced extractions from others.taxplanchart

Everybody who does tax for a living does so knowing that a stroke of the pen could put us out of business. My dentist taunted me with this observation before I even started my first tax job. I have always set my lifestyle and expectations accordingly. While I’ve made a living off the tax law, the world certainly doesn’t owe it to me, or to anyone else.

 

Kyle Pomerleau, Scott Greenberg, How Danish is Bernie Sanders’s Tax Plan? (Tax Policy Blog):

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But it would be great for tax pros!

 

TaxProf, The IRS Scandal, Day 1,000. Thanks to Paul Caron for his persistence in paying attention to the past and continuing IRS abuse of power.

William Perez, 8 Reasons to Ask the IRS for a Tax Extension. Always better to extend than amend.

Peter Reilly, Tax Dependency Exemptions For Noncustodial Parents – It Is All About Form 8332

Robert Wood, Winner Of $1.6 Billion Powerball Jackpot Sued By Prisoner

TaxGrrrl, Congressman’s Son Sentenced To Five Years In Prison On Fraud & Tax Charges. Maybe he’ll meet a Powerball winner.

 

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David Brunori, Paying for Past Sins (Tax Analysts Blog) “The Jindal administration pushed tax cuts without paying for them. It then tried to address the ensuing budget problems with a barrage of gimmicks. For that, the citizens of Louisiana are likely to pay a price.”

Jeremy Scott, Ted Cruz’s Iowa Win Not a Victory for a VAT (Tax Analysts Blog). “Cruz may have a radical tax program, but it hasn’t been a big piece of his campaign.”

Renu Zaretsky, What’s so funny about taxes, love, and solidarity? “Would Americans pay higher taxes with as much love and solidarity for the people of Flint as they donate water? And would my fellow Michigan neighbors pay up, given that state government appointees and representatives caused the problem and then covered it up?” Not to mention the local one-party regime that triggered the crisis in the first place.

News from the Profession. Take the Going Concern Reader Survey (Going Concern).

Kay Bell, North Pole decides to tax marijuana. Maybe that’s why Santa is so jolly.

 

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Tax Roundup, 1/29/16: Iowa House passes $500,000 Section 179, but prospects bleak in Senate. And: Iowa may give guy a break.

Friday, January 29th, 2016 by Joe Kristan

Accounting Today visitors: Click here to go directly to the newsletter link on cheaper returns.

coupling20160129Accelerating to a stop. When a household is short of cash, the family usually spends less. Iowa has a different approach. They pick your pocket.

The Iowa House of Representatives yesterday voted 82-14 to retroactively couple with all of the 2015 federal tax law changes except bonus depreciation (HF 2092, formerly HSB 535). This would allow Iowa businesses to deduct up to $500,000 in annual purchases of otherwise-depreciable fixed assets under Section 179. Governor Branstad’s budget would limit the deduction to $25,000 — an unexpected departure from Iowa law for the past several years and a significant tax increase.

You would think that an overwhelming bipartisan vote in favor of the $500,000 version would foreshadow quick passage by the Senate. Alas, no.

I talked to some legislators yesterday when I participated in the Iowa Society of CPAs annual Day on the Hill. It appears that Governor Branstad and Senate Majority Leader Gronstal have a little bipartisan deal of their own to kill Section 179 coupling.

That’s not how Sen. Gronstal explains it. From the Quad City Times:

Senate Majority Leader Mike Gronstal, D-Council Bluffs, said his majority caucus would consider what the House passed, but he expressed doubt about moving ahead with a concept at variance with the governor given a similar course of action last session for education funded ended with a gubernatorial veto.

“I don’t like doing things that I know will get a certain veto,” Gronstal said. “That doesn’t seem to me to make a lot of sense. The governor doesn’t have this in his budget.”

I came away understanding that the voice of the majority caucus is really the voice of Sen. Gronstal, and that Section 179 coupling will never come up for a vote in the Senate. I assume it is because both the Governor and the Majority Leader want the money for their own priorities: more cronyist tax credits for Gov. Branstad, and more spending for Sen. Gronstal.

That’s a crummy deal for the thousands of small businesses that suddenly will see a big unanticipated tax increase. It also seems like a deal that would be vulnerable to an insiders vs. Main Street challenge. The tax credits that the Governor wants to fund go to a narrow set of taxpayers. For example, in 2014 $42.1 million of refundable research credits went to 16 big taxpayers. That’s almost enough to pay for half of Section 179 coupling $90 million cost by itself.

Here is the complete menu of incentive and economic development tax credits in the Governor’s budget:

Iowa credits fy 2017

The refundable sales tax credit goes largely to the big data center companies Facebook, Microsoft and Google. The Enterprise Zone Housing credit and High Quality Jobs credits are big company credits that you have to through the economic development bureaucracy to cash in on. The rest of the credits are mostly for favored industries who get breaks unavailable to the much larger universe of other businesses that have to pay full freight.

It might still be possible to get the Governor and/or the Majority leader to see things differently. That will require taxpayers and practitioners to convince their legislators that small businesses and farmers shouldn’t have to stand in line behind insiders.

It’s not clear to me what form the extension will take under the Governor’s program. I was unable to confirm whether the Senate will skip 2015 conformity entirely, as outlined in Sen. Anderson’s newsletter. I have inquiries in.

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Des Moines Register, Iowa agrees to review man’s $5,000 tax refund request. Some good news in the story we mentioned yesterday of the retired maintenance man who inadvertently conceded to a $5,000 liability he didn’t owe.

 

It’s serious. You know tax season is truly underway when Robert D. Flach posts his last Buzz roundup before disappearing into his hive to make his artisanal hand-crafted 1040s. Im starting to think Robert isn’t Donald Trump’s biggest fan.

TaxGrrrl live-blogged the GOP debate last night. I just did a drive-by, myself. Literally; I drove past the venue on my way home last night. No, I didn’t have it on the radio.

Robert Wood, What To Do If IRS Form 1099 Reports More Than You Received

Peter Reilly, Tax Foundation Analysis Of Sanders Plan Only Shows Downside. On the plus side, you could worry less about your investments, as you wouldn’t have as many.

Jason Dinesen, Having Negative Taxable Income Doesn’t Mean the Government Pays You Extra

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Scott Greenberg, The Sanders Tax Plan Would Make the U.S. Tax Rate on Capital Gains the Highest in the Developed World (Tax Policy Blog).

Renu Zaretsky, No Trump, No Problem. The TaxVox headline roundup today covers Google’s tax travails, “tampon taxes,” and candidate tax plans.

TaxProf, The IRS Scandal, Day 995

News from the Profession. Life at EY Involves Food, Technical Difficulties (Caleb Newquist, Going Concern).

 

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