Today is the 17th anniversary of when I started this blog while I was a fellow with the New America Foundation. There is always plenty to write about regarding the topic of how taxes should reflect how we live and
San Jose State University Blogs
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Taxes and the Olympics
On March 1, the Commission on the State of U.S. Olympics & Paralympics issued a report: Passing the Torch – Modernizing Olympic, Paralympic, & Grassroots Sports in America. Per the announcement, this commission was directed by Congress
Why increase the 1099 filing threshold (why increase the tax gap)?
Over the years there have been proposals to increase the filing threshold under IRC §6041 for 1099-MISC and 1099-NEC which has been $600 since 1954. But, as I’ve posted about before (see for example my 6/11/23 post), increasing the
Important Effective Date Item in Preamble to Digital Asset Broker Reporting Prop. Regs.
The proposed regulations on broker reporting of digital assets released August 29, 2023 (REG-122793-19) included more than guidance under IRC section 6045. They also included related proposed regulations under section 1001 on amount realized and section 1012 on
EITC Awareness Day and Week Hopefully Also Can Focus on Needed Improvements
The Earned Income Tax Credit (EITC) was added to the law in 1975 (Tax Reduction Act of 1975 (P.L. 94-12, SEC. 204; 3/29/75). So, the first note I’d like to make is that March 29, 2025
Fewer Clean Vehicles Qualify for Federal Tax Credit in 2024
The §30D Clean Vehicle Credit that was greatly modified for 2023 through 2032 by the Inflation Reduction Act of 2022 has increasingly strict qualifications each year. Per the IRS and Dept. of Energy list of qualifying vehicles, there is a
170+ Tax Changes in 117th Congress – Too Many or Not Enough?
On December 21, 2023, the Joint Committee on Taxation released its Bluebook for Tax Legislation Enacted in the 117th Congress (we are currently half way through the 118th Congress). These reports provide helpful background and explanation for tax changes. Pulling
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