Tax Law

Last month, the Tax Court handed down two decisions that show how important it is to follow the letter, and not just the spirit, of the law. In Tragman, the taxpayers bought a house in 2009 to be used as … Continue reading →

A tax law professor from the University of Kansas says changes to the Kansas income tax code could benefit wealthier residents, lead to revenue shortfalls and have other unintended consequences for the state. Martin Dickinson told a group of Douglas … Continue reading →

and abolish tax breaks for large inheritances. DELAY BALANCING THE BUDGET This one is likely to send chills up German Chancellor Angela Merkel’s spine: The first thing Hollande wants Parliament to do is pass a new law delaying the target … Continue reading →

LAWRENCE, Kan. (AP) – A tax law professor from the University of Kansas says changes to the Kansas income tax code could benefit wealthier residents, lead to revenue shortfalls and have other unintended consequences for the state. The Lawrence Journal … Continue reading →

The states and territories impose some of the least efficient and worst-designed taxes in Australia. Stamp duty is a standout. Why is there a disincentive for people to move homes and locations for work purposes, for example, with huge sums … Continue reading →

The future of a locally supported bill to eliminate property taxes is up in the air after being unexpectedly tabled last week in the House Finance Committee, but supporters are still hoping the measure can rebound. House Bill 1776, the … Continue reading →

But you can avoid tax-law complications if you charge an interest rate that at least equals the applicable federal rate (AFR) approved by the Internal Revenue Service. Current AFRs for term loans—meaning loans with a defined repayment schedule …

The public has raised concerns over proposed amendments to the Law on Personal Income Tax by the Ministry of Finance, particularly when it comes to personal and family deductions and the “partially progressive tariff”. Some taxpayers say the amendments are … Continue reading →

Jobs, innovation, competitiveness and opportunity should be four principles that govern tax law, he said last Monday in a speech at the Bipartisan Policy Center in Washington. Mr. Baucus provided few specific details on his views about …

But there is a hitch. First, consider that for most property tax law grants a “step-up in basis” at death, forgiving income tax on the growth in the property. This is tax that would be levied if the property were … Continue reading →