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Happy Hanukkah, Hamilton-Style

Thursday, December 14, 2017

Happy Hanukkah, Hamilton-Style

From The Maccabeats, an a cappella group at Yeshiva University:

For more on my obsession with interest in Hamilton, see here and:

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Trends In State Tax Policy, 2018

Key Findings:

  • State tax changes are not made in a vacuum. States often adopt policies after watching peers address similar issues. Several notable trends in tax policy have emerged across states in recent years.
  • Four states cut corporate income taxes in 2017, three as part of planned multiyear reductions, and one (North Carolina) as a further rate reduction after the successful implementation of multiyear reforms.
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EU Letter To Treasury Should Not Change Tax Reform

Recently, a letter was sent to the U.S. Treasury from five European ministers of finance warning that some international provisions within the Tax Cuts and Jobs Act (TCJA) are out of line with international norms. The ministers identified three provisions in the House and Senate versions of the bill that could violate international rules.… Read more

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WaPo: How The IRS Values Art

Thursday, December 14, 2017

WaPo: How The IRS Values Art

I try to tell my students that where the rubber hits the road for many tax issues is in valuation.  Here’s a great story about one aspect of valuation disputes from the Washington Post Magazine:  “The Secretive Panel of Art Experts That Tell the IRS How Much Art is Worth

Each year, bequests and donations of art generate tens of millions of dollars in potential tax revenue.

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House And Senate Bill Limits On Interest Deductions

The House and the Senate tax bills restrict the deduction of business interest. Each bill limits the deduction to 30 percent of “modified income” with carryover of the excess to later years. Unfortunately, the Senate definition of “modified income” is much lower than in the House bill, and it undercuts the investment incentive provided by the expensing provision.… Read more

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