Category Archives: IRS

$312 Billion (and counting)

According to this story in the Boston Globe, the US’s “tax gap” is between $312 billion and $353 billion for individuals (not corporations). This gap consists of underreporting of income, underpayment of taxes, and nonfilers. While the IRS’s enforcement efforts … Continue reading

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Do As I Say, Not As I Do

The New York Times has for years editorialized against corporations “abusing the Tax Code.” But does the Times practice what they preach? Of course not— that would be fiscally irresponsible. As Allan Sloan reports in today’s Washington Post (hat tip: … Continue reading

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If It Sounds Too Good to be True…

…It usually is. The New York Times today has a story on tax shelters (free registration required). It’s good reading, and brings up the basic issues that you need to consider about any tax shelter: – Is there a purpose … Continue reading

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