Tax Chats

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Jeff and Scott chat with Benjamin Alarie, a law professor at the University of Toronto, and, the founder and CEO of BlueJ.  They talk about one of BlueJ's products, Ask BlueJ, which is a generative AI system that allows users to ask it technical tax questions, and, get answers. They discuss how responses are quickly improving, how this AI is different from ChatGPT, and, the future of generative AI for tax research.

Get CPE for listening to Tax Chats! Free CPE courses are available approximately one week after episodes are published. Visit https://earmarkcpe.com/ to download the free app. Go to the Tax Chats channel, register for the course, take a short quiz, and earn your CPE certificate.

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Jeff and Scott discussed a new tax proposal with Natasha Sarin, an economist and lawyer at Yale Law School and Yale School of Management. Natasha, in collaboration with Kim Clausing, developed a plan aimed at increasing tax revenue. This plan  also anticipaties several tax provisions expiring in 2025.

The proposal, "The Coming Fiscal Cliff: A Blueprint for Tax Reform in 2025," includes the following proposals, among others:

1. Raising the corporate tax rate.
2. Overhauling the current international tax system.
3. Introducing a carbon tax.
4. Securing permanent funding for the IRS.
5. Implementing a financial transactions tax.
6. Expanding the Child Tax Credit and the Earned Income Tax Credit.

Overall, these measures aim to generate an additional 3.5 trillion in revenue, over the current baseline of projected revenue

Get CPE for listening to Tax Chats! Free CPE courses are available approximately one week after episodes are published. Visit https://earmarkcpe.com/ to download the free app. Go to the Tax Chats channel, register for the course, take a short quiz, and earn your CPE certificate.

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Nina Olsen was the National Taxpayer Advocate for the United States, a position overseeing the IRS which was created by Congress and described in the Internal Revenue Code. The National Taxpayer Advocate is responsible for overseeing more than 2,000 employees of the office of the National Taxpayer Advocate.  We discuss the responsibilities of the taxpayer advocate, the creation of the Office of National Taxpayer Advocate, and, the types of work the taxpayer advocate has been engaged in in the past two decades.

Get CPE for listening to Tax Chats! Free CPE courses are available approximately one week after episodes are published. Visit https://earmarkcpe.com/ to download the free app. Go to the Tax Chats channel, register for the course, take a short quiz, and earn your CPE certificate.

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In this episode, we chat with author and historian Brady Crytzer, who recently published "The Whiskey Rebellion: A Distilled History of an American Crisis ". Brady also hosts "Dispatches: The Podcast of the Journal of the American Revolution"

Get CPE for listening to Tax Chats! Free CPE courses are available approximately one week after episodes are published. Visit https://earmarkcpe.com/ to download the free app. Go to the Tax Chats channel, register for the course, take a short quiz, and earn your CPE certificate.

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Jeff was recently asked to opine on whether Republican GOP candidate for president Vivek Ramaswamy grew up with a lot of money. Scott and Jeff dive into Vivek's tax returns for evidence.

Get CPE for listening to Tax Chats! Free CPE courses are available approximately one week after episodes are published. Visit https://earmarkcpe.com/ to download the free app. Go to the Tax Chats channel, register for the course, take a short quiz, and earn your CPE certificate. 

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The  Inflation Reduction Act extended the provision of  tax incentives for electric vehicles, but, added stipulations that these EVs be produced in North America.  Manufacturers outside of North America, including Korean auto manufacturers, had a problem--would they miss out on these subidies that their customers had previously been getting? Trade economist Chad Bown tells the story about how the US Treasury, by regulation, appears to have solved Korea's problem by regulation.

Get CPE for listening to Tax Chats! Free CPE courses are available approximately one week after episodes are published. Visit https://earmarkcpe.com/ to download the free app. Go to the Tax Chats channel, register for the course, take a short quiz, and earn your CPE certificate. 

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Scott and Jeff Discuss the upcoming Supreme Court case, Moore v. USA, with Jake Brooks, a professor of law at Fordham University. Jake explains that Mr. and Mrs. Moore held shares in an Indian corporation , and, as  a result of the Tax Cuts and Jobs Act of 2017, faced some $15,000 in taxes. They claim that this tax is unconstitutional, and, the case has implications for many features of our current tax code,  for the TCJA in general, as well as the hopes some  have of taxing unrealized capital gains or a wealth taxation more broadly.

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In honor of the first birthday of the Inflation Reduction Act (IRA), Jeff and Scott discuss the major provisions of the IRA, and references the episodes they have recorded about these provisions. They discuss the green incentives and their changing estimated cost, and, the three major way the IRA was intended to pay for those  incentives--a tax on adjusted financial statement income (which celebrated its first CAMT-iversary),  increasing the budget at the IRS,  and an excise tax on share repurchases.

They reference the following past coverage on IRA provisions on Tax Chats:

Episode 101: Transferable tax credits in the Inflation Reduction Act. A Chat with Gary Hecimovich

Episode 86: Tax Credit Markets: A Chat with Bryen Alperin

Episode 79: Taxing Stock Buybacks: A Chat with Daniel Hemel

Episode 76: How will corporations respond to the tax on book income? A chat with Todd Castagno

Episode 65: Un-Adjusting the Tax Code by Taxing Adjusted Financial Accounting Income in the Inflation Reduction Act

Episode 62: Does the IRS really have guns? Debunking some recent fear mongering

Episode 61: The Book Minimum Tax -- A Compilation of Thoughts

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The tax law allows taxpayers to trade one piece of property for another piece of property and not recognize any taxable gain. These exchanges are called like kind exchanges, and, in this episode, we chat about them with Eric Tellekamp, a managing director at BDO.

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Jeff and Scott chat with Jenny Williams, Tax Administrator with Chatham County, North Carolina. We discuss the ins and outs of property tax collection, including garnishing wages, repossessing assets, and foreclosing on real property. We talk about how the county manages to collect over 95% of property taxes owed. We bust a few myths about property taxes in the process.