Decisions — Flying free

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Today’s question: Can organ transplant teams fly free of federal excise tax?

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Definitions — Your tax reading diet

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The food pyramid, an old-school nutrition guide issued by the US government, disappeared in 2011. But if your reading diet includes IRS documents, you’re in luck.

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Decisions — Forfeiting the capital gain

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What is a capital asset? Section 1221 of the internal revenue code defines a capital asset primarily by explaining what a capital asset is not.

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Decisions — His, hers, theirs … or not

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As the old joke goes, taxes on a joint return are not “hers” and “his” but “theirs” – that is, belonging to “THE IRS.”

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Decisions — Hindsight and afterthought

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In Greek mythology, Epimetheus was a Titan who lacked forethought, and had instead the gift, or curse, of hindsight and afterthought. In tax law, “recharacterization” plays a similar role.

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Decisions — Firing up the reasonable cause

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According to an old cartoon, to err is human, and subject to penalty. If you’ve erred on your taxes and incurred a penalty, one avenue of relief is reasonable cause.

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Decisions — Exceeding the limit

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In life, exceeding limits may be good advice. In tax law, generally not so much.

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Decisions — Collecting the money

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This is not a trick question: What sum would you rather receive, $4.8 million or $17.8 million?

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Definitions – Do you know IRAs?

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Given the year IRAs were introduced, you may have had access to these retirement accounts your entire working life. But how much do you really know about IRAs?

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Decisions – The substance of the form

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You may not give much thought to tax forms, especially today, when you likely turn to a computer screen instead of a piece of paper and the IRS no longer mails tax packages.

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Prior Posts

Useful Tax Law Links

US Tax Code- Cornell University Law School Legal Information Institute. Searchable.

http://uscode.house.gov/ - Office of the Law Revision Counsel. Searchable. Downloadable.

US Tax Court - TC Opinions, Memorandum Opinions, Summary Opinions. Searchable. Downloadable.

Treasury Regulations - Government Printing Office provides the Federal Tax Regulations. Searchable. Downloadable.

Other Official US Tax Guidance - US Internal Revenue Service. Searchable. Downloadable.

Useful Downloads by Taxing Lessons

Foreign Earned Income Exclusion - free PDF - Graphic of Internal Revenue Code Section 911

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