Congress Can Maintain IRS Rulemaking Authority
In Loper Bright , a case about the environmental regulation of fishing boats, the Supreme Court overruled the Chevron doctrine , which required courts to...
View ArticleCongress Wins A Battle For Its Taxing Authority, But More Challenges Are On...
The Supreme Court upheld Congress’s taxing authority, at least for taxing undistributed corporate profits. But what about Congress’s authority to tax other unreceived profits, like unrealized capital...
View ArticleWho’s Left to Tax? Grappling With a Dwindling Shareholder Tax Base
Foreign investors, retirement accounts, and other tax-exempt entities now dominate US stock ownership. This shift has important implications for understanding who wins and who loses...
View ArticleTax Gimmick in a BOXX
Bloomberg recently reported on an exchange traded fund (ETF) with the ticker symbol BOXX that exploits various tax rules to transform what’s effectively interest income,...
View ArticleIn SCOTUS Moore Case, Taxation Without Receipt of Cash is Fair Game
The US Supreme Court will soon hear oral arguments in a case that raises a question most people have likely never even considered: Can your...
View ArticleAn Expansive Decision in Moore Case Could Spell Trouble for Our Tax Code
Former House Speaker Paul Ryan (R-WI) recently warned that a “lot of the tax code would be unconstitutional” if the US Supreme Court rules for...
View ArticleBacksliding on Information Returns Undermines Our Tax System
In the United States’ voluntary tax system, taxpayers are responsible for correctly reporting their incomes to the IRS, rather than having the government determine their...
View ArticleProspects for “Moore” Damage to Our Tax Code
The US Supreme Court recently agreed to review the case of Moore v. United States . The question presented sounds dry and technical: “Whether the...
View ArticleStock Buyback Excise Taxes: What We Know And Don’t Know
Companies now spend more than a $1 trillion annually to repurchase their stock, in lieu of paying higher dividends to their shareholders, or investing more...
View ArticleTax Cheats, Dodgers, Avoiders, And Evaders
The news is filled with stories about conflicts between taxpayers and tax collectors. Just a few weeks ago a New York jury convicted the Trump...
View ArticleThe IRS’s Christmas Gift to Airbnb and PayPal Is a Loss for Law-Abiding...
Third-party payment platforms such as Airbnb, eBay, and PayPal found a surprise gift from the Biden Administration in their Christmas stockings last month—one that likely...
View ArticlePrivate Equity Is A Business Subject To The New Book Minimum Tax. Treasury...
When the Senate added a new corporate minimum tax to the Inflation Reduction Act (IRA), it almost added a clarification that private equity is a...
View ArticleCongress Could End Tax Breaks for Gifts to Non-Profits with Political Agendas
The New York Times reported that Chicago businessman Barre Seid donated his entire business, tax free, to the Marble Freedom Trust, a tax-exempt advocacy organization...
View ArticleNew Buyback Excise Tax Snares Foreign Investors
The Inflation Reduction Act (IRA) approved by Congress last week included a new 1 percent stock buyback excise tax on US publicly traded corporations. Many...
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