Some tax quotations the IRS missed...

The IRS's collection of 15 tax quotations, wonderful as it is – as we noted yesterday – does miss a few classics that rank highly in our own collection.

There's Benjamin Franklin’s quote, for one thing, which is probably among the world's best-known tax quotations of all: “In this world nothing can be said to be certain, except death and taxes.”  (Almost equally famously, American author Martha Mitchell included a variation on Franklin’s quote in her 1936 novel Gone with the Wind, n which she has her heroine, Scarlett O’Hara, say: “Death, taxes and childbirth! There’s never any convenient time for any of them!”)

  • News

Revealed: IRS’s sense of humor

As the countdown  continues to Tax Day in the U.S., on Monday, we thought it would be a good time to call attention to a rather quirky collection of tax quotations that we stumbled on, buried deep inside the IRS’s website.

Yup. For all its unflinching greediness, which seems to radiate from its very website at this time of year, the U.S. Internal Revenue Service would seem, on at least some level, to be aware of certain ironies, hypocrisies and even undeniably funny things that are fundamental to the business of taxing people...

  • Tax

IRS seen ramping up penalties on late-filed foreign trusts, CFCs, FBARs in 2019

The U.S. Internal Revenue Service, which has seen its operating budget slashed over the past eight or nine years, appears to be looking to increase its use of penalties against those non-U.S. resident taxpayers who fail to file documents or pay the taxes they owe on time, U.S. Tax and Financial Services Ltd founder and chief executive Darlene Hart says.

  • Tax

Glimmer of hope seen in IRS proposal to tweak FATCA regs

After more than eight years of lobbying Congress and the White House, opponents of the 2010 Foreign Account Tax Compliance Act are cautiously welcoming news that the Internal Revenue Service has issued a proposal to make major changes in that legislation and certain other reporting requirements that have made life difficult for Americans living outside of the U.S.

  • Tax

U.S. passport revocation law comes to Expatland

 In 2015, Congress enacted a law that would revoke the passports of U.S. citizens who were “seriously delinquent” on their U.S. taxes. The enforcement threshold was set relatively high, however – at US$50,000 in outstanding tax, interest and penalties. (A provision was included to adjust annually for inflation going forward, so the amount now stands at US$51,000.) 

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Opinion

A renounced ‘accidental’ replies to UK gov’t’s Stride: ‘It’s not that we’re not British, we are – but we're also not really American'

A renounced ‘accidental’ replies to UK gov’t’s Stride: ‘It’s not that we’re not British, we are – but we're also not really American'

Last week, it was revealed that British Labour MP Preet Kaur Gill had received her second formulaic and non-committal response in two months to specific questions she had asked the...

Feb-19-2019