Fighting to Make LIFO Repeal First Out

Fighting to Make LIFO Repeal First Out
I certainly hope Ways and Means Committee Chairman Dave Camp had some idea what he was getting into when he wrote a plan to reform our tax system. Even though both parties claim to agree to tax reform, actually writing something down is like painting a political target on your back. After Dave Camp initial release the reform ...

Australian Carbon Tax Likely to Melt Away

Australian Carbon Tax Likely to Melt Away
I was planning to write something helpful today, but got sidetracked by a Google Alert talking about the likelihood that the Australian Carbon Tax will be repealed come July 1st. With the United States and much of Europe still fighting to implement a carbon tax, I wanted to know the rationality behind getting rid of one already in ...

New Colorado Historic Preservation Credit

New Colorado Historic Preservation Credit
Colorado Governor John Hickenlooper, listed as the nation’s only governor to pose with both stoners’ and my children’s favorite snacks, has just signed into law the Colorado Job Creation and Main Street Revitalization Act. This act, which depressingly does not spell some creative acronym (CJCMSR just doesn’t roll off the tongue), gives a credit for the ...

Government Workers Owe $3.3B in Back Taxes

Government Workers Owe $3.3B in Back Taxes
Late last month, news broke that the IRS was paying bonuses to agents that owed back taxes. Now the IRS has released a summary of how well employees in other government agencies are keeping up with their taxes duel. If the IRS had been smart, they should have released this information right after last month’s ...

Small Change Coming For Proposition 13

Small Change Coming For Proposition 13
I may live in Colorado, but I still love following my home state California’s train wreck of a political situation. At least from far away. And if there’s one law that epitomizes the political clash, it’s Proposition 13. For those not from California (since those with CA backgrounds certainly know about it), Proposition 13 was a ...

DC Health Insurance Exchange Looking for Tax Revenue

DC Health Insurance Exchange Looking for Tax Revenue
Here’s a conundrum: You’re given millions of dollars to set up a Health Insurance Exchange with the understanding that it must be self-sufficient within a year of use; however, if you charge the users of the Health Insurance Exchange enough to keep the website running, the exchange will go under quicker than a Rolex store ...

Washington Grower Suing to Stop Marijuana Tax

Washington Grower Suing to Stop Marijuana Tax
While my state of Colorado is apparently swimming in marijuana tax revenue, the news from the other state to legalize recreational marijuana has been fairly silent. Since I’m more interested in the tax consequences of legalizing marijuana than the substance itself, I haven’t been actively searching for Washington’s experiment with the drug, but I did run ...

Vermont Considering Publicly Shaming Delinquent Taxpayers

Vermont Considering Publicly Shaming Delinquent Taxpayers
Vermont lawmakers have sent a bill up to their governor that includes a provision to publicize the names of the state’s delinquent taxpayers (which I found out, oddly enough, via a San Antonio site). It won’t publish the name of every delinquent taxpayers, just the 100 biggest offenders in both the business and individual tax ...

Lost Van Gogh Discovered by Taxman

Lost Van Gogh Discovered by Taxman
We hear so many bad stories about the Taxman that it’s nice to hear a good one every now and then. In Spain, their IRS uncovered a missing Van Gogh, which disappeared from the Kunsthistorisches Institut in Vienna back in 1975. Here’s an image of the recovered painting, titled “Cypress, sky and field”: This particular ...

Is the US Corporate Tax Rate Actually Low?

Is the US Corporate Tax Rate Actually Low?
I’ve been sitting on an article for a couple days now, since I wasn’t really sure what to think about it. Business Insider discussed a report showing that the United States created the third most billionaire entrepreneurs per capita (behind Hong Kong and Israel). Part of the reason for this, the article claimed, was a low US ...