Same-sex Marriage and Federal Income Tax Returns
Posted on July 21st, 2011 by bunilaw
Section 3 of the Defense of Marriage Act (DOMA, codified as 1 USC sec. 7), prevents the federal government from treating any union of same-sex persons as a marriage, regardless of its status under state law. That means IRS cannot accept jointly filed returns from same-sex couples, even if those couples are married under state [...]
IRS Renews Offshore Voluntary Disclosure Initiative on Tougher Terms
Posted on February 9th, 2011 by bunilaw
The cost of delay On February 8, 2011, IRS announced a renewed initiative for resolving unreported income held in offshore accounts or assets. The renewed initiative has an 8 year look-back period (instead of the 6 year look-back of the 2009 initiative). A new penalty rate of 25% replaces the prior 20% penalty rate. There [...]
Circular 230: Free CLE ethics credit, videotaped lecture by Ronny Buni
Posted on January 9th, 2011 by bunilaw
By clicking on the link below, you can view a lecture by Ronny Buni on Circular 230, which is promulgated under Treasury’s regulatory authority and governs practice before the IRS. Practice before the IRS includes a wide range of activities, including the rendering of written federal tax advice.
Taking From the Rich
Posted on September 14th, 2010 by bunilaw
Why discussions of tax rate progressivity sharply divide proponents of big and small government.
James Surowieki incites us to soak the rich
In an article in the August 16 issue of The New Yorker entitled, “Soak the Very Very Rich,” James Surowiecki says we should soak the very very rich, The two ‘very’s” suggest that even if we might feel bad about soaking people generally, we should feel ok, or even good, about soaking someone who is wealthy. Surowiecki explains that top income earners enjoyed much higher increases to their incomes than others between 2002 and 2007, and that therefore today very (very) high incomes should be subject to higher rates of income tax.
Comments on Kagen Confirmation Hearings
Posted on July 1st, 2010 by bunilaw
This comment is related to constitutional law rather than tax. However, constitutional law underlies all areas of law, including tax law. On Tuesday June 29, Senator Grassley quoted roughly from the Declaration of Independence to the effect that we are all endowed by a creator with certain rights. He also quoted from a Supreme Court [...]