Rumours are circulating that the Super Committee may be planning to cut Gift Tax Exemptions from $5,000,000 to $1,000,000. The really scary part of the rumors is that the change may have an effective date of November 23, 2011. How real are the rumours ? Well consider the sources. This is from the Florida Trusts and Estates Blog of Dean Mead read »
The Third Circuit has upheld a district decision to not discharge the $19,000,000 tax debt of Bruce Bryen. The circuit decision neatly summarizes why Mr. Bryen was not entitled to a discharge: read »
I met Lavina recently when she commented on my most recent DOMA piece. Her concern was with the way that benefits, such as health care, are often tied to corporate employment, which is not everyone's ideal work mode. I asked her to expand on her thoughts in a guest post, which she has kindly provided. read »
Italy will get a new government just like Greece and stocks react quite well.
I've previously posted about the communist government of Cuba cutting taxes and the CEO of Coca-Cola saying that communist China has a more business-friendly climate than the United States. read »
Taxpayer asks: read »
At the federal, state and local level, new taxes are coming all the time. Budget deficits and eroding tax bases suggest new taxes can be easier to stomach than raising rates. Taxes are on Botox, tanning, music downloads, and more. read »