Category Archives: Tax Law

10 Things You Need to Know Before Filing Your Taxes

You probably are thinking that everyone should know what goes into filing taxes since it’s a legal obligation. Even if you are not earning, you are expected to file your returns. However, so much has changed in the recent past that you may feel like you know nothing about this compulsory activity. Think about your […] The post 10 Things You Need to Know Before Filing Your Taxes appeared first on Tax Crisis Institute... To continue reading this legal news please click Read full information...

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An Alternative to Using Tax Law for Non-Tax Purposes

Readers of MauledAgain know that I am not a fan of using federal tax law to encourage or discourage particular behavior. If Congress wants to influence people’s decisions through monetary benefits, it ought to permit the relevant agency to design the details of a program and to issue checks or make electronic transfers. Yet Congress too often puts the benefit in the form of a tax credit, requiring the IRS to become an expert in things such as alternative fuels, higher education, electric vehicles, orphan drugs, and dozens of other products and services. My guess is that the Congress trusts the IRS more than most of the other agencies, though its members are reluctant to admit this publicly.Now comes news that the Bureau of Land Management plans to pay $1,000, in two installments, directly to anyone who adopts a wild horse or burro. This initiative is designed to deal with the ever-growing numbers of wild horses and burros, which requires the Bureau to spend money caring….. To continue reading this legal news please click Read full information...

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Applicable Federal Rates — April 2019

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Qualified Beneficiaries–Recent Case is Puzzling in its Logic and Scope [Florida]

A recent 4th DCA opinion on who is a “qualified beneficiary” under Florida’s Trust Code is a puzzler, at least to me. Status as a qualified beneficiary is important – it determines who is entitled to receive an accounting for a trust.To simplify the facts, 3 separate trusts were held for 3 daughters – each daughter was the current income and principal beneficiary of their own separate trust. At the death of a daughter, the assets of her trust would be transferred to the trusts of her surviving siblings. At the death of the last daughter, the trust assets would go outright to 3 named charities.Fla.Stats. §736.0103(16) provides general rules on when a living beneficiary is a qualified beneficiary. Generally, the rules include the current beneficiaries, and the next level of persons who would take if the trust then terminated or the current beneficiaries then ceased to be beneficiaries. Because a charitable organization is not a “living….. To continue reading this legal news please click Read full information...

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Does an IRS Appeals Protest Count as a Refund Claim?

Taxpayers generally have to submit refund claims to recoup taxes paid to the IRS. The law generally says that these claims have to be in writing, but not necessarily on the IRS’s official forms. Taxpayers submit a number of documents to the IRS. Written protests submitted to the IRS are an example. Can such a […] The post Does an IRS Appeals Protest Count as a Refund Claim? appeared first on Houston Tax Attorneys: Kreig Mitchell... To continue reading this legal news please click Read full information...

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