Showing 11 - 20 of 816,927
When it comes to the tax world, the starting point is that international tax law does not currently give any special status to a meta realm as a distinct jurisdiction. The metaverse is not a term of art recognised by tax law. However, what we are likely to see is a change in business models and...
Persistent link: https://www.econbiz.de/10014350462
This Article addresses the legal consequences a taxpayer should consider when deciding whether to comply with the basic requirements of the federal income tax laws. A taxpayer considering noncompliance should consider the government's authority to assert criminal liability, impose civil tax...
Persistent link: https://www.econbiz.de/10012963311
In December 2017, Congress passed major tax reform. The reform included an important new provision that grants independent contractors and other passthrough taxpayers, but not employees or corporations, a potential tax deduction equal to 20% of their qualified business income. Critics have...
Persistent link: https://www.econbiz.de/10014109946
Annually, the U.S. government collects nearly $3 trillion of income and employment taxes. With respect to these collections, Form 1040 (U.S. Individual Income Tax Return) seeks to ensure taxpayer accuracy. Currently, two sets of players dominate the Form 1040 preparation and submission process:...
Persistent link: https://www.econbiz.de/10014124822
Among government agencies, the IRS likely has the surest legal claim to the most information about the most Americans:their hobbies, religious affiliations, reading activities, travel, and medical information are all potentially tax relevant. Privacy scholars have studied the arrival of Big...
Persistent link: https://www.econbiz.de/10013031373
When taxpayers underreport their income, understate their income, or fail to file their tax returns the government must spend money to audit taxpayers, to assess the tax, to collect the tax, and to borrow money to cover the lost revenue. The amount of such noncompliance with the tax laws is...
Persistent link: https://www.econbiz.de/10012771078
taxpayers. According to standard deterrence theory, policymakers should be able to reduce tax evasion by increasing tax …
Persistent link: https://www.econbiz.de/10013032515
Based on an analysis of 3,844 tax treaties, the Vienna Convention on the Law of Treaties and its Commentaries (VCLT), and case law of various domestic and international courts.The current orthodoxy maintains that courts are not required to compare all language texts of a plurilingual treaty but...
Persistent link: https://www.econbiz.de/10012850635
The latest wave in tax shelter reform is the recent codification of the so-called “economic substance doctrine” and the accompanying strict liability penalty for violations of the doctrine. The new strict liability penalty has been criticized by tax scholars and practitioners for being...
Persistent link: https://www.econbiz.de/10014184403
A controversial new financing phenomenon has recently emerged. New “income share agreements” (“ISAs”) enable an individual to raise funds by pledging a percentage of her future earnings to investors for a certain number of years. These contracts, which have been offered by entities such...
Persistent link: https://www.econbiz.de/10013033194