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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Decisions — Powering down

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When you abandon business property and your adjusted basis is more than the amount you realize, you can generally claim an ordinary loss.

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Decisions — The character of the payment

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Character makes the person. Character matters in the tax code too.

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Decisions — Excepting debt

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Whatever value you assign to forgiveness, in the world of tax, forgiveness generally results in income, even though the taking on of debt usually has no tax consequences.

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Decisions — The business of advertising

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In 2004, after the World Trade Organization determined that then-current US export subsidies were prohibited under treaty, the US congress enacted section 199 of the internal revenue code as part of the American Jobs Creation Act.

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Decisions — Dancing with the IRS

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There’s no point dancing around the truth. If you’re a married couple, the tax code treats you as an economic unit.

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Decisions — Cashing in, cashing out

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The trouble with life insurance is that you have to be dead to enjoy the payout—unless your policy has a cash surrender value and the terms of the policy allow you to receive money based on that value.

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Decisions — Neither rain nor snow

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You may be lonely if you’re punctual, but you’ll pay fewer tax penalties, and you won’t lose your day in tax court.

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Decisions — Where’s your refund?

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Where’s your refund? Possibly making up the federal budget deficit, if you failed to file a return to get an overpayment back within the applicable time period.

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Decisions — P.S. Not the usual grant

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To maintain status as a public charity, one of the requirements nonprofit organizations must meet is the “public support test.”

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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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