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Taxation

The Tax System

by taxnick on October 12, 2008

The primary purpose of the tax system is to raise revenue for the U.S. Government. According to the U.S. Budget, tax receipts represent 58.8% of federal revenue; the federal deficit is projected to be $364 billion and $521 billion for the years 2005 and 2004, respectively. Therefore, the $345 billion tax gap has a considerable [...]

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Mason: Efficient Management of the Wealth of Nations

by taxnick on August 27, 2008

Ruth Mason (UConn) has posted Efficient Management of the Wealth of Nations, 120 Tax Notes ___ (2008), on SSRN.  Here is the abstract:
This comment considers arguments for and against stricter regulation of sovereign wealth funds (SWFs), either by tightening securities laws or increasing the tax burden on SWFs. Concerns about SWFs fall into two broad [...]

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Tax Toilet Paper

by taxnick on August 27, 2008

If your tax bric-a-brac tastes are more low-brow than yesterday’s Form 1040 Puzzle, you can bid on your very own roll of Form 1040 toilet paper:
Does it pain you to fill out a tax form each year? Does knowing that the IRS takes a large chunk of your salary give you the runs? This product [...]

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Taxation in the United States

by taxnick on August 18, 2008

Taxation in the United States is a complex system which may involve payment to at least four different levels of government and many methods of taxation. United States taxation includes local government, possibly including one or more of municipal, township, district and county governments. It also includes regional entities such as school and utility, and [...]

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