Income is Taxable if it’s not Specifically Excluded

James Maule of Mauled Again has written an excellent post titled Expending Tax Dollars to Litigate Settled Tax Questions. In it he discusses the Eleventh Circuit’s affirmance, in Campbell v. Comr., No. 10-13677 (11th Cir. 2011),…

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A Just Society Taxes Capital Gains at Lower Rates

A columnist for The New York Times believes that the objective of our tax policy should be to enforce equality of results rather than equality of opportunity. James B. Stewart is the latest in a long line of tax-the-richers…

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Taxing Sale of Jeter Ball is a No Brainer

A lot of people are making a ruckus because the IRS says that the value of what Christian Lopez, the fan who caught Derek Jeter’s 3,oooth hit, which was a home run, is taxable, but…

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Report Your Cash Receipts or Suffer the Consequences

Boy is this ever a serious problem. Joe Kristan has the story: Even when you get away with tax cheating for a long time, it can come back to bite you. If you are cheating in…

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Debt Cancellation and the 1099-C

Joe Kristan tells of  a recent Tax Court case (Gaffney v. Commissioner; T.C. Summ. Op. 2010-128) where the Court properly held that a 1099-C alone is insufficient to establish the taxability of debt cancellation income: The Tax Court pointed…

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