Tax Notes Talk

Martin 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 Flow
• Economic Analysis: Rx for the Coronavirus Economy
• News Analysis: Who Gets Emergency Paid Leave?
• Revisions to House Bill Scale Back Employee Paid Leave
• Emergency Legislation Mandates and Partially Subsidized Employee Paid Leave

All Tax Notes news coverage and analysis of the coronavirus pandemic is now free and accessible to the public: taxnotes.com/coronavirus-tax-coverage

Beverly 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 Extension
• Virtual Paper Chase — Law Schools Transition to Online Classes
• Still No Word From IRS on Virus-Affected Service Levels
• Tax Pros Skeptical of IRS Payment Deferral, but Welcome Relief
• Tax Pros Fear Procrastination, Workload From Filing Extension
• IRS Creates New Site for Coronavirus-Related Information
  
  
  
  
  
  
  
  
  
  
  
  
  

Tax 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 Competition
• Connecticut Looks to Join Interstate Incentives Compact
• Questions Raised by Multistate Plan to Eliminate Incentives
• Rhode Island Lawmakers File Tax Incentive Compact Bill
• Arizona Bill Backs Interstate Tax Incentives Compact
• Kansas-Missouri Incentives War Ends in Truce

Eric 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 End
• IRS Increases Effort to Fight Abusive Microcaptive Transactions
• IRS May Extend Microcap Settlement Offer to More Taxpayers
• IRS Looking for Promoter Links as Easement Crackdown Grows
• Enforcement Push Puts Taxpayer Rights at Risk, Olson Frets
• Officials Looking for Criminal Microcaptive Cases
• SB/SE Ramping Up Community Enforcement and Visibility
• Criminal Fraud Referrals to Get Bigger Focus in SB/SE
• IRS Leadership Shuffle Continues With New Division Chiefs

Yue “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 Taxes
• Italy Delays Tax Payments for Area Under Coronavirus Quarantine
• China Announces Tax Measures in Response to Coronavirus
• Hong Kong Tax Agency Suspends Services Because of Coronavirus

In 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.

Damien 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 Thefts
• TIGTA Spotlights IRS 2019 Filing Season Shortcomings, Successes
• Preparers Cautiously Optimistic for Normal 2020 Filing Season
• Once More Unto the Breach: 199A Filing Season Round 2
• It’s Dealer’s Choice With 163(j) for Filing Season
• Filing Season Opens January 27; IRS Releases Progress Report

Also, check out Damien's interview with Tax Notes Talk host David Stewart now on the Simply Tax Podcast.

Jason 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 Says
• Researchers Debate Need for Taxes That Wealthy Can’t Avoid
• Making a Wealth Tax Work May Require ‘Rough Justice’
• U.S. Well Positioned for Wealth Tax, Economist Says
• A Look Ahead: Democrats to Stand Behind Wealth Taxes in 2020
• Warren Takes on Economists Over the Effect of Tax Hikes
• Biden and Sanders Tax Plans Found to Overstate Revenue Gains

In 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 Proposals
• Gary, Indiana Offered More Than $792 Million in Failed HQ2 Bid 
• Chicago Offered More Incentives in Second HQ2 Selection Round
• Virginia Governor Signs HQ2 Incentives Package
• Amazon Reaffirms Commitment to Build HQ2 in Virginia
• Indiana Can Shield HQ2 Bid From Disclosure Under Advisory Opinion 

Tony 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 Apply
• Collateral Problems Could Arise From O-Zone Transition Rule
• O-Zone Regs Include Curveball on Improvements to Property
• O-Zone Investment Numbers Could Be Vast Underestimate
• O-Zone Safe Harbor Provision May Need Clarification
• O-Zone Rules Applicability Date Raises Dilemma for Investors
• Consolidated Group Rules Seen as Welcome Addition to O-Zone Regs
• Final O-Zone Regs Include Several Taxpayer Wins

In part 2 of her interview with Tax Notes senior reporter William Hoffman, former National Taxpayer Advocate Nina Olson discusses her ongoing fight for taxpayer rights and the upcoming fifth International Conference on Taxpayer Rights in South Africa.

For additional coverage, read these articles in Tax Notes:

• IRS Free Tax Return Preparation Remains Out of Reach
• Preparers See Benefits of Form 1040-SR, but Maybe Not for Them
• Politically Active Exempts May Have Escaped IRS Penalties
• A Look Ahead: Focus on Low-Income, ESL Taxpayers in IRS Overhaul, Advocates Say
• Enforcement Push Puts Taxpayer Rights at Risk, Olson Frets