“Rather than demanding that Senate conservatives violate their consciences and support distortions in the tax code that increase spending and maintain Washington’s power over taxpayer’s lives, your organization should assist our efforts. Calling for the elimination of tax earmarks without qualifications would be a good start,” Coburn wrote. “Continuing to issue blanket defenses of all tax expenditures is a profoundly misguided embrace of progressive, activist government and a strategy for tax complexity, tax deferment, excessive spending and unsustainable deficits.” [The Hill]
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Specifically, under a feature of California law that recognizes domestic partnerships gay couples must now combine their income and report half of it on each of their respective returns.
The ruling marks the first time that the IRS has recognized same-sex couples as equal to their heterosexual counterparts for tax purposes. Of the community-property states (i.e. all property and debt is owned equally by a couple) Nevada and Washington also recognize domestic partnerships, so couples there may also be affected.
Max Baucus Promises to Monitor the IRS Until the Tax Gap Is Closed ‘Once and For All’
As soon as you catch your breath from laughing hysterically, feel free to continue.
Max Baucus turns 59 69 on December 11th, so even if you assume that he will have the life expectancy of Robert Byrd that means he’s got 32 22 years of watching the IRS’s every move. Sure, we’re making the assumption that the IRS has a snowflake’s chance in Hell of closing the tax gap but that’s an assumption we’re comfortable making.
The General Accounting Office recently stated that the IRS was using “antiquated techniques” to fight tax evasion and Baucus feels compelled to be on top of the situation until the tax gap is a distant memory.
“This report makes clear the IRS needs to develop a comprehensive strategy to fight complex tax evasion schemes and that more work is needed to close the tax gap,” Baucus said in prepared remarks. “I intend to closely monitor the IRS’ progress to make sure they have an effective strategy to root out this tax evasions and close the tax gap once and for all.”
You may now resume laughing until you soil yourself.
Baucus urges new strategy for IRS to combat evasion [On the Money]
CohnReznick Snags a Longtime PwC International Tax Guy and Issues a Press Release
CohnReznick has picked up former PwC principal Daniel Rinke for its international tax practice and […]