For most of its history, the United States has recognized the difference between direct and indirect taxes, and this distinction informed the law prior to the creation of the 16th amendment. After the 16th amendment, congress was no longer bound to ensure that direct taxes follow the rule of
Does the IRS Forgive Taxes After 10 Years?
The Internal Revenue Service (IRS) is an agency that deals with tax collection, and administers the Internal Revenue Code enacted by congress. It is the responsibility of law-abiding citizens to pay taxes as authorized by the government. Below are the following things you need to know. Are Ten
Mercantile Trust Co v Commissioner & the Limited Importance of Contingencies
Nearly every legal concept presently in use in these United States has an established pedigree. Very few of our concepts are recent inventions. This observation holds true not just in one or two areas of law but for quite literally our entire legal edifice. Section 1031 is no exception to this
Expat Accounting During COVID
The current pandemic has caused a significant strain on business and daily activities worldwide. The firms have been closed, and various companies slowed down. For the companies to reduce the challenges posed by the pandemic, especially in the expat accounting sector, multiple measures have been
Mannillo v Gorski: The Case of the Intrusive Neighbor
Most aspiring homeowners understand owning property involves a great deal of responsibility. When you own property, all of the maintenance and liabilities which would otherwise be taken care of by a landlord are taken on by you. A leaky faucet, faulty appliances, or an unstable foundation is no
How Small Businesses Have Managed To Survive The Pandemic
Flexibility is paramount for small businesses and nowhere is this more true than during the last 18 months with the the pandemic. Many businesses had plans, forecasts, and investor meetings before COVID turned their business (or even their industry) upside down. With the pandemic, we've seen the
Helvering v Bruun & the Issue of Taxable Gain
One of the things which makes tax law such a fascinating field is that it forces you to formally analyze many terms which are casually – and often carelessly – used in everyday conversation. In common parlance, terms such as “income,” “gain” and “property” are understood intuitively and require
Hylton v United States & the Practical Difficulties of Apportionment
In early June of 1794, Congress passed a “carriage tax” aimed at carriages used for business purposes. The tax was to be collected annually for as long as the person in question owned the carriage. The original constitution of the U.S. recognized a distinction between direct taxes and indirect