by Lynam Knott | Jan 12, 2012 | Aggressive Tax Positions, Taxpayer Underpayment
In the tax world, unlike Hollywood, we really don’t get that many juicy stories. However, when the “stars” embarrass themselves with their tax troubles, we are provided relief from yet another story about, for example, the material...
by Lynam Knott | Jan 10, 2012 | Aggressive Tax Positions, Taxpayer Underpayment, Whistleblower Awards
The IRS estimates that the gross tax gap for 2006 is $450 billion, or 17 percent of taxes. The gross tax gap is the amount of the true tax liability faced by taxpayers that is not paid on time. After its enforcement efforts, the IRS estimates that the net...
by Lynam Knott | Nov 22, 2011 | Aggressive Tax Positions, Taxpayer Underpayment
Bloomberg News/Businessweek’s Jesse Drucker makes an astute observation about how billionaires either delay or escape income taxes in his article “U.S. Billionaires Avoid Reporting Cash to IRS.” The article describes how several people on the...
by Lynam Knott | Nov 7, 2011 | Aggressive Tax Positions, Taxpayer Underpayment, Uncertain Tax Positions
The IRS needs whistleblowers now more than ever. A recently released study by the Citizens for Tax Justice and the Institute on Taxation and Economic Policy examined 280 of the current Fortune 500 and found a general pattern of decreasing tax rates,...
by Lynam Knott | Sep 1, 2011 | Aggressive Tax Positions
The recently released study by Institute for Policy Studies that identified 25 Fortune 500 companies who’s CEOs were paid more last year than they paid in federal income tax naturally piqued our interest, and created a buzz in the media as well. David...
by Lynam Knott | Feb 1, 2011 | Aggressive Tax Positions, Uncertain Tax Positions
A recent article in the NY Times caught our attention because it describes how many of the S&P 500 companies are drastically reducing their US taxes. Columnist David Leonhardt also discusses this issue in the Economix blog. The story relates to the low...
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