Tax Notes Talk

Send us a textNicole Kaeding, vice president of policy promotion and economist with the National Taxpayers Union Foundation, discusses the Coronavirus Aid, Relief, and Economic Security (CARES) Act.For additional coverage, read these articles in Tax Notes:CARES Act Means Crunch Time for IRS and TreasuryCARES Act Retirement Relief Appears OptionalCoronavirus Relief Act Fixes NOL Legislative QuirksCARES Act Has Negative ‘Knock-On' Effects for International TaxBusiness of Tax: Planners Should Take Care Giving CARES Act AdviceTrump Signs $2 Trillion Coronavirus Aid BillAll Tax Notes news coverage and analysis of the coronavirus pandemic is now free and accessible to the public: taxnotes.com/coronavirus-tax-coverage

Send us a textMartin Sullivan, the chief economist with Tax Analysts, says the U.S. is headed toward a recession unlike any other due to the economic fallout of the coronavirus pandemic and how to find relief.For additional coverage, read these articles in Tax Notes:Economic Analysis: Emergency Tax Deferrals to Massively Boost Cash FlowEconomic Analysis: Rx for the Coronavirus EconomyNews Analysis: Who Gets Emergency Paid Leave?Revisions to House Bill Scale Back Employee Paid LeaveEmergency Legislation Mandates and Partially Subsidized Employee Paid LeaveAll Tax Notes news coverage and analysis of the coronavirus pandemic is now free and accessible to the public: taxnotes.com/coronavirus-tax-coverage

Send us a textBeverly Winstead, director of the University of Maryland’s Low-Income Tax Clinic, shares how the coronavirus pandemic has affected her as a practitioner and professor with Tax Notes Executive Editor for Commentary Jasper Smith.For additional coverage, read these articles in Tax Notes:IRS Confirms: No April 15 Return Filing ExtensionVirtual Paper Chase — Law Schools Transition to Online ClassesStill No Word From IRS on Virus-Affected Service LevelsTax Pros Skeptical of IRS Payment Deferral, but Welcome ReliefTax Pros Fear Procrastination, Workload From Filing ExtensionIRS Creates New Site for Coronavirus-Related Information

Send us a textTax Notes Today reporter Aaron Davis discusses the recent state efforts to clamp down on tax-incentive bidding wars by forming a multistate compact.In the latest installment of Willis Weighs In, Tax Notes contributing editor Benjamin Willis discusses PLR 202009002 and its greater application.For additional coverage, read these articles in Tax Notes:States Push for Cooperation Over CompetitionConnecticut Looks to Join Interstate Incentives CompactQuestions Raised by Multistate Plan to Eliminate IncentivesRhode Island Lawmakers File Tax Incentive Compact BillArizona Bill Backs Interstate Tax Incentives CompactKansas-Missouri Incentives War Ends in Truce

Send us a textEric Hylton, the new head of the Small Business/Self-Employed Division at the IRS, discusses employment tax, recent high-income nonfiler visits, and data analytics. For additional coverage, read these articles in Tax Notes:IRS Expects to Hire 50 Percent More Collections Staff by Year’s EndIRS Increases Effort to Fight Abusive Microcaptive TransactionsIRS May Extend Microcap Settlement Offer to More TaxpayersIRS Looking for Promoter Links as Easement Crackdown GrowsEnforcement Push Puts Taxpayer Rights at Risk, Olson FretsOfficials Looking for Criminal Microcaptive CasesSB/SE Ramping Up Community Enforcement and VisibilityCriminal Fraud Referrals to Get Bigger Focus in SB/SEIRS Leadership Shuffle Continues With New Division Chiefs

Send us a textYue “Daisy” Dai, a professor at the Shanghai University of Finance and Economics, describes life in China during the coronavirus outbreak.She also discusses the tax policy measures the country is using to combat the pathogen. Read her piece published in Tax Notes.For additional coverage, read these articles in Tax Notes:Hong Kong Proposes Waivers for Personal and Business TaxesItaly Delays Tax Payments for Area Under Coronavirus QuarantineChina Announces Tax Measures in Response to CoronavirusHong Kong Tax Agency Suspends Services Because of CoronavirusIn the latest installment of Willis Weighs In, Tax Notes contributing editor Benjamin Willis discusses the IRS's cryptocurrency guidance and its failure to properly address tax-free forks. Read his piece published in Tax Notes.

Send us a textDamien Martin, CPA and host of the Simply Tax Podcast talks about the 2020 tax filing season. For additional coverage, read these articles in Tax Notes:IRS Refund Fraud Progress May Be Undermined by Database TheftsTIGTA Spotlights IRS 2019 Filing Season Shortcomings, SuccessesPreparers Cautiously Optimistic for Normal 2020 Filing SeasonOnce More Unto the Breach: 199A Filing Season Round 2It’s Dealer’s Choice With 163(j) for Filing SeasonFiling Season Opens January 27; IRS Releases Progress ReportAlso, check out Damien's interview with Tax Notes Talk host David Stewart now on the Simply Tax Podcast.

Send us a textJason Furman, a professor at Harvard University and former chair of the Council of Economic Advisers, discusses the arguments used to back a wealth tax and suggests alternatives to reduce the wealth inequality gap in the U.S. with Tax Notes contributing editor Joseph J. Thorndike.In the latest installment of Willis Weighs In, Benjamin Willis continues his vote-to-value disparity discussion by explaining how the value of vote can affect the value of other stock rights and classes of stock and the importance of appraisals .For additional coverage, read these articles in Tax Notes:U.S. Wealth Tax Would Require More IRS Resources, Study SaysResearchers Debate Need for Taxes That Wealthy Can’t AvoidMaking a Wealth Tax Work May Require ‘Rough Justice’U.S. Well Positioned for Wealth Tax, Economist SaysA Look Ahead: Democrats to Stand Behind Wealth Taxes in 2020Warren Takes on Economists Over the Effect of Tax HikesBiden and Sanders Tax Plans Found to Overstate Revenue Gains

Send us a textIn honor of Tax Notes Talk’s 100th episode, we went back to the roots of what Tax Notes stands for: transparency.Tax Notes senior reporter Lauren Loricchio discussed her efforts to obtain the bid Indianapolis submitted to Amazon for HQ2 and Tax Analysts legal counsel Con Hitchcock shares the ensuing legal battle.For additional coverage, read these articles in Tax Notes:Localities Dodging Open Records Laws to Avoid Disclosure of Amazon HQ2 ProposalsGary, Indiana Offered More Than $792 Million in Failed HQ2 Bid Chicago Offered More Incentives in Second HQ2 Selection RoundVirginia Governor Signs HQ2 Incentives PackageAmazon Reaffirms Commitment to Build HQ2 in VirginiaIndiana Can Shield HQ2 Bid From Disclosure Under Advisory Opinion 

Send us a textTony Nitti, a tax partner at RubinBrown LLP, discusses the final rules on Opportunity Zones and his observations of the program in action with Tax Notes senior legal reporter Stephanie Cumings. For additional coverage, read these articles in Tax Notes:Confusion Looms About Which Set of O-Zone Regs to ApplyCollateral Problems Could Arise From O-Zone Transition RuleO-Zone Regs Include Curveball on Improvements to PropertyO-Zone Investment Numbers Could Be Vast UnderestimateO-Zone Safe Harbor Provision May Need ClarificationO-Zone Rules Applicability Date Raises Dilemma for InvestorsConsolidated Group Rules Seen as Welcome Addition to O-Zone RegsFinal O-Zone Regs Include Several Taxpayer Wins