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The Tax Gap: Do Billions In Uncollected Income Taxes Speed Up Economic Downturn During A Global Pandemic?, Offiong Ekah Jan 2022

The Tax Gap: Do Billions In Uncollected Income Taxes Speed Up Economic Downturn During A Global Pandemic?, Offiong Ekah

Journal of the National Association of Administrative Law Judiciary

Section I will explore how maximizing taxpayer compliance will be a crucial component of closing the tax gap, and what initiatives the IRS implements to garner compliance; Section I will also examine how past and current Tax Code affects levels of compliance—the goal always being compliance optimization. Section II will explore the CARES Act of 2020, and how the Act fared as a response to the onset of COVID-19. This section will also discuss how the concerns of the IRS are accentuated by the tax gap, and how a lack of governmental funding, particularly relating to detailed exclusions enumerating within …

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A Gilti Fix For An Employment Tax Glitch, Richard Winchester Sep 2021

A Gilti Fix For An Employment Tax Glitch, Richard Winchester

Pepperdine Law Review

Self-employed individuals who operate through a business entity can often dictate how much employment tax they pay, if any. That’s because the rules permit them to control whether their earnings count as labor income – which is subject to employment tax – or the returns on any capital invested in their business – which is not subject to the tax. The GILTI rules enacted as part of the 2017 Tax Act assume that capital investments generally earn a 10 percent annual rate of return. That same assumption can be used to allocate the earnings of a self-employed individual between the …

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Application Of The Active Business Requirement To The Tax-Free Spin-Off Of Corporate Real Estate , Richard J. Albrecht May 2013