In the latest episode of Tax Notes Talk, Abdul Muheet Chowdhary of South Centre, an intergovernmental organization of developing countries, talks about how the U.N. Committee on Experts on International Cooperation in Tax Matters could be more transparent and effective for developing countries. The post has been edited for length and clarity. Nana Ama Sarfo: Abdul,
Taxes
I recently wrote about how the IRS taxes legal malpractice settlements. I said a legal malpractice settlement should be tax free for an underlying physical injury case, where damages would have been tax free in the underlying physical injury case. Shortly thereafter, the Tax Court decided Blum v. Comm’r, T.C. Memo. 2021-18. Its harsh taxable
When it comes to taxes, the good news is that we all have until May 17th to file and pay our federal income taxes. (Your state income tax deadline may be a different story.) Parents can also qualify for the higher child tax credit. The bad news is there isn’t much you can really do
By Doug Sheppard, Tax Notes State commentary editor Being the first American rock band of perhaps thousands to cover a reggae song would have to be considered a major milestone — if not something to brag about. If one knew that they were breaking new ground, that is. Informed years later that Brownsville Station’s 1973
How you prepare your taxes could help others make sense of your estate. Piecing together a person’s financial holdings when you don’t know where to start can be almost impossibly overwhelming. Let’s say you have to look after a parent suffering from diminished capacity, or are in charge of the affairs after a person has