Wages are subject to income tax; gifts are not. Which description ought to apply to restaurant tips?
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If Gifts Are Not Income, Why Tax Gratuities?
Tag Archives: The Internal Revenue Service
An Advocate Comes Through For Frustrated Taxpayers
IRS bureaucracy thwarted a foreign taxpayer’s effort to claim the refund he was owed – until a taxpayer advocate stepped in.
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Why Press Bad Luck?
It’s unwise to press your luck when you are on a winning streak. It makes even less sense if you are losing.
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Round Numbers
Let’s not be seduced by the power of round numbers.
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A Regulatory Leap Too Far
Regulating tax preparers may be worthwhile, but the IRS needs authority first. That power did not magically appear after 100 years.
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How Much Is It Worth?
The IRS’ after-the-fact valuation for estate and gift taxes is not a fair or sensible way to run a tax system.
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The Optional Mandate
Not a mandate, not a tax, the Affordable Care Act’s requirement that everyone have health insurance is just a political fiction.
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The True Cost of Cost Basis
Congress managed to make the complicated issue of cost basis even more complex. Now taxpayers and professionals are doing their best to adjust.
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An IRS Scapegoat Retires
If you need a scapegoat, pick the sleaziest one you can find. The IRS had one of the best.
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