International Applications of U.S. Income Tax Law provides tax, accounting, and legal practitioners in the U.S. with a fundamental understanding of major concepts and issues in international tax. Readers will become more knowledgeable of how taxpayers achieve excess credit or excess limit positions and how they can profit from the economic incentives these positions create. International Applications of U.S. Income Tax Law also explains how to calculate marginal tax rates in many situations, a concept not found in other international tax books.

Passcards provides all the knowledge required for the Indirect Tax unit. Passcards are A6, spiral bound revision aids which students can carry to revise wherever, whenever. Features include:topics presented in the same order as the Course Book, ability to focus on tricky syllabus areas, aid revision by giving clear, visual emphasis to key points, suitable for both paper and computer based exams. Our materials and online equivalents will help ensure you are ready for your assessments and prepared for your career in accounting.

Fully updated each year,Taxation: Policy and Practice continues to provide coverage of the UK's tax system as it has for 16 years. It is an excellent aid to support a first course in tax, or as a general introduction to this topic. Written in an accessible style with many examples, activities and questions throughout, this textbook gives the reader a thorough understanding of the UK's taxation principles and current practices. The companion website provides additional questions and answers, links to other tax materials available online and commentary on tax developments as they occur throughout the year. "An excellent balance of practice and theory, without non essential detail, make this the first choice student text for UK tax" - Professor John Hasseldine, University of Nottingham

This book examines the most recent developments, analysis and research concerning taxation in the United States. Topics discussed in this compilation include corporate tax expenditures and information on estimated revenue losses and related federal spending programs; taxing businesses through the individual income tax; refundable tax credits; the ability of unauthorised aliens to claim refundable tax credits; and master limited partnerships as a policy option for the renewable energy industry.

The Complete, Authoritative Guide to Getting Started in Tax Consulting

Tax consulting and return preparation is a fast-paced, dynamic industry–one that promises high earning potential. In this book, tax advisor Gary Carter shows you just what it takes to become an in-demand tax consultant. You’ll discover how to break into the tax business, even with relatively limited education and training, and build a path to your new career with Carter’s five-step formula for success. Brimming with expert advice from tax professionals and featuring up-to-the-minute coverage of everything from qualifications and employment opportunities to Internet resources, Getting Started in Tax Consulting shows you how to:

• Assess your personality fit for the tax profession
• Formulate your business plan for starting a tax practice
• Find a niche for your tax services
• Choose between a sole proprietorship, a partnership, a C corporation, an S corporation, and a limited liability company
• Set your fees and market your services
• Perform research–an essential skill of the tax professional
• Make the IRS your partner and advisor–not your adversary
• Start a Web-based tax service

BPP Learning Media is the AIA s official publisher and our Study Texts are endorsed by AIA examiners.

The author of the Transfer Pricing Handbook now covers the often complex transfer pricing rules in nations around the globe.

• Reviews and analyzes OECD Guidelines.
• Provides an overview of 27 nation's transfer pricing rules.
• Examines the differences between the United States, OECD Guidelines, and specific countries' transfer pricing rules.
• Written by industry experts from each country.

The core volume (ISBN 0471-406619) is supplemented annually.

The 2002 Supplement includes updates to both Transfer Pricing 3e and Transfer Pricing International. It contains:

• Two new chapters on Cost-Sharing Buy-Ins and Technology, Licensing, and Economic Issues in Transfer Pricing
• Complete revisions to chapters on New Zealand, Singapore, Belgium, Czech Republic, Russia, and South Africa. (with updates to Germany chapter)
• New Appendix containing information regarding Practice Note 7

The supplement updates the core volumes, Feinschreiber/Transfer Pricing Handbook, Third Edition (ISBN 0471-406619) and Transfer Pricing International: A Country by Country Guide (ISBN 0471-385239).

What works best for clients? Learn the pros and cons of the LLC, general partnership, limited partnership, and limited liability partnership by focusing on planning and potential tax traps. This title offers a review of distinct advantages of these entities coupled with an examination of the risk members and partners face if they do not have a solid tax plan to minimize their exposure. In addition, the authors explore some of the more intricate rules and regulations of these entities so you can move your working knowledge of partnership and LLC taxation beyond the basics. This book prepares the reader to do the following: Analyze a partnership or LLC agreement to determine whether any special allocations in the agreement will be allowed under Code Section 704(b) Identify the potential economic consequences of special allocations to a partner or LLC member Identify the potential tax consequences when a partner or LLC member has a negative balance in his or her capital account Recognize the relationship between partnership and LLC allocations of profit and loss and the allocation of the risks and rewards of entity operations Distinguish between the requirements for substantiality and those for economic effect under the regulations Distinguish between "book" allocations required under Section 704(b) and "tax" allocations required under Section 704(c) Recognize the three methods described in the Section 704(c) regulations to make special allocations with respect to contributed property Determine when a non-contributing partner or LLC member will or will not be protected by required allocations under Section 704(c) Calculate the gain that can result from reallocation of liabilities when a partner joins a partnership Calculate a partner's or member's share of recourse liabilities of a partnership or LLC Distinguish between recourse and nonrecourse liabilities of a partnership or LLC Analyze the impact of a partner or LLC member's guarantee of a recourse or nonrecourse liability of the entity Recognize when to treat a liability as a recognized versus contingent liability and understand how to account for partnership or LLC contingent liabilities Calculate the basis of each property received by a partner receiving multiple properties in a liquidating vs. non-liquidating distribution from a partnership or LLC Recognize which properties will receive a step-up or step-down in basis when multiple properties are received from a partnership or LLC Allocate basis increases or decreases among multiple properties for federal income tax purposes Determine when an Internal Revenue code (IRC) Section 754 election will allow a partnership or LLC to adjust its basis in its assets Allocate required basis adjustments among partnership or LLC assets Determine the tax consequences associated with the sale of a partner's or member's interest in a partnership or LLC Recognize how using the installment method to account for the sale of a partnership interest will affect how the partner will report his or her gain on the sale Recognize when the sale of an interest in a partnership will trigger a technical termination of the partnership Determine the tax basis and holding period of assets owned by the partnership following a technical termination Determine the tax consequences associated with subsequent dispositions of built-in gain or loss assets following a technical termination

An updated edition of award-winning financial planner Jason Butler's effective guide to helping your wealth survive and thrive so that you achieve financial security and stability.

This text examines the most recent developments, analysis and research concerning taxation in the United States. Topics discussed in this compilation include the constitutionality of retroactive tax legislation; tax provisions to assist with disaster recovery; the impact of the federal estate tax on state estate taxes; effective marginal tax rates for low - and moderate - income workers; and the taxation of capital and labour through the self-employment tax.

This encyclopedia provides an in-depth analysis of issues related to property taxation, including law, public finance, decentralization, valuation, and property tax form. This encyclopedia examines the criteria applied to evaluate the strengths and weaknesses of property tax. This text also discusses the main valuation methods and the economic principles underpinning them, and reviews the legal and administrative aspects of property tax. Providing topical and highly relevant material, this text also looks at various efforts to reform the property tax in countries that have systems in place deemed weak or ineffective.

Taxes are an inescapable part of life. They are perhaps the most economically consequential aspect of the relationship between individuals and their government. Understanding tax development and implementation, not to mention the political forces involved, is critical to fully appreciating and critiquing that relationship. Tax Politics and Policy offers a comprehensive survey of taxation in the United States. It explores competing theories of taxation's role in civil society; investigates the evolution and impact of taxes on income, consumption, and assets; and highlights the role of interest groups in tax policy. This is the first book to include a separate look at "sin" taxes on tobacco, alcohol, marijuana, and sugar. The book concludes with a look at tax reform ideas, both old and new. This book is written for a broad audience-from upper-level undergraduates to graduate students in public policy, public administration, political science, economics, and related fields-and anyone else that has ever paid taxes.

On April 8, 2014 the Senate Committee on Finance held a hearing entitled "Protecting Taxpayers from Incompetent and Unethical Return Preparers". This book describes the rules governing paid tax return preparers and provides background relating to Internal Revenue Service regulation of the conduct of paid tax return preparers. The first section of this book describes Internal Revenue Code of 1986 rules relating to tax return preparers. The second section describes Treasury regulations relating to tax return preparers, including Circular 230. The third section describes court cases related to the application of Circular 230 to tax return preparers.

What does the future hold for the welfare state in the post-industrial 21st century? Political and economic forces are threatening the taxation regimes of highly globalised, capitalist societies, prompting an urgent debate around the function of the welfare state and how we pay for it. In a challenge to current policy and thinking, David Byrne and Sally Ruane deploy the concepts and analytical tools of Marxist political economy to better understand these developments, and the possibilities they present for social change. Using the SNP in Scotland as an illustrative case study, current debates are related to a critical understanding of the relationship between taxation and spending, issues that are fundamental to early 21st century politics and the future of the welfare state.

Two economists take readers on a tour of the economics of legal and illegal weed, showing where cannabis regulation has gone wrong and how it could do better. Cannabis "legalization" hasn't lived up to the hype. Across North America, investors are reeling, tax collections are below projections, and people are pointing fingers. On the business side, companies have shut down, farms have failed, workers have lost their jobs, and consumers face high prices. Why has legal weed failed to deliver on many of its promises? Can Legal Weed Win? takes on the euphoric claims with straight dope and a full dose of economic reality. This book delivers the unadulterated facts about the new legal segment of one of the world's oldest industries. In witty, accessible prose, economists Robin Goldstein and Daniel Sumner take readers on a whirlwind tour of the economic past, present, and future of legal and illegal weed. Drawing upon reams of data and their own experience working with California cannabis regulators since 2016, Goldstein and Sumner explain why many cannabis businesses and some aspects of legalization fail to measure up, while others occasionally get it right. Their stories stretch from before America's first medical weed dispensaries opened in 1996 through the short-term boom in legal consumption that happened during COVID-19 lockdowns. Can Legal Weed Win? is packed with unexpected insights about how cannabis markets can thrive, how regulators get the laws right or wrong, and what might happen to legal and illegal markets going forward.

This book examines the role of tax policy in the incidence of socio-economic inequality. With a focus on Latin American, the author demonstrates that while inequality has decreased remarkably in the last decade - during the very period in which inequality was increasing almost everywhere else in the world - this reduction cannot be attributed to a better use of tax policy. Offering both quantitative and qualitative reviews of tax policies pursued by Argentina, Chile, Colombia, Mexico and Peru over the last two decades, Reducing Inequality in Latin America contends that these countries continue to make insufficient use taxation measures in combating startlingly high levels of inequality. Drawing on legal texts, interviews with researchers and experts in the field, and official monetary statistics to obtain a complete picture of how discretionary tax policy has been pursued in the region, this volume engages with a range of recent economic theories to argue for the importance of using the tax system to reduce inequalities, whilst also offering new methods for measuring tax policy in subsequent research. As such, it will appeal both to scholars of social science and policy makers with interests in economics, social inequality, public policy and international political economy.

The federal budget deficit has exceeded $1 trillion annually in each fiscal year since 2009, and deficits are projected to continue. Over time, unsustainable deficits can lead to reduced savings for investment, higher interest rates, and higher levels of inflation. Restoring fiscal balance would require spending reductions, revenue increases, or some combination of the two. Policy-makers have considered a number of options for raising additional federal revenues, including a carbon tax. A carbon tax could apply directly to carbon dioxide (CO2) and other greenhouse gas (GHG) emissions, or to the inputs (e.g., fossil fuels) that lead to the emissions. Unlike a tax on the energy content of each fuel, a carbon tax would vary with a fuel's carbon content, as there is a direct correlation between a fuel's carbon content and its CO2 emissions. This book examines the carbon tax debate as a deficit reduction tool with a focus on policy design considerations.

Tax reform is a perennial issue before Congress. One area of increasing attention is the taxation of U.S. companies on the income they earn abroad. Business leaders have been urging a movement toward a territorial tax, which would generally eliminate U.S. income taxes on active foreign source income. Tax on the income of foreign subsidiaries is deferred until repatriated and tax can be avoided by not repatriating income. Economists have traditionally analysed the foreign tax system in terms of economic efficiency. Economic theory tends to support, on efficiency grounds, a world-wide system in which income from U.S. investment earned abroad is subject to the same tax, or as close to the same tax as possible, as that on domestic investment. This book provides an overview of how the international tax system works and describes the magnitude and distribution of foreign source income and taxes, with a focus on the alternative features of a territorial tax and their consequences.

When thirteen machine shop workers from Ohio won a $295.7 million lotto jackpot, the largest ever, it made headlines. But the real story is that the lottery is a losing proposition for the vast majority who play it.

Hitting the Lottery Jackpot provides the hard truth to the questions everybody asks: What are my chances of winning? Doesn't the money go to education? Isn't it harmless? This concise book explains who really profits from lotteries-advertising agencies, TV stations, and ticket vendors-and that shows only about half the money wagered is returned as prizes, the rest pocketed by state governments. Hitting the Lottery Jackpot also demonstrates who loses: lower-income groups and people of color, who spend a much higher percentage of their income on lotteries than others.

David Nibert connects the rise of lotteries, illegal in every state before the 1960s, to the economic stagnation beginning in the 1970s, when budgetary crises prompted legislatures to seek new revenues. Difficult economic times produced uncertainty and anxiety for the working class, leading many poor and middle-income people, yearning for security, to throw away huge sums on lotteries they stand almost no chance of winning. Finally, Nibert explores the ideological dimensions of the lottery-the get-rich-quick individualism that they promote among the very groups who would be better served by political action and solidarity.

Hitting the Lottery Jackpot is a powerful case for seeing lotteries as a pernicious government tax on the poor, seductively disguised as fun.

In the wake of the Panama Papers scandal and similar leaks, tax havens are now firmly in the spotlight. Today, roughly half of all global trade still passes through tax haven jurisdictions, costing millions in lost revenue to countries around the world. Such practices affect all of us, but are most keenly felt by poorer people in developing countries, where unfair tax practices have become a major obstacle to development, and which have allowed multinational corporations to continue to exploit developing economies. This collection argues that, for developing countries to achieve social justice and lasting prosperity, they must take control of their own tax destinies, and that this will also be crucial to achieving the Sustainable Development Goals. Covering such topics as natural resource management, representation in global tax institutions and effective strategies for building and protecting tax bases, the collection brings together expertise from a variety of countries and disciplines. It explores the options available to developing countries, and provides a basis for concerted action by tax authorities, policy makers, academics and civil society experts to design tax systems that can sustain a just society.

In 2014, the federal government will forgo an estimated $17.45 billion in tax revenue from IRAs, which Congress created to ensure equitable tax treatment for those not covered by employer-sponsored retirement plans. Congress limited annual contributions to IRAs to prevent the tax-favored accumulation of unduly large balances. But concerns have been raised about whether the tax incentives encourage new or additional saving. Congress is reexamining retirement tax incentives as part of tax reform. This book describes IRA balances in terms of reported FMV aggregated by taxpayers; examines how IRA balances can become large; and assesses how IRS ensures that taxpayers comply with IRA tax laws.

Taxes and Trust is the first book on taxes to focus on trust and the first work of social science to concentrate on how tax policy actually gets implemented on the ground in Poland, Russia and Ukraine. It highlights the nuances of the transitional Ukraine case and explains precisely how and why that 'borderland' country differs from the more ideal-types of coercive Russia and compliance-oriented Poland. Through nine bespoke taxpayer surveys, an unprecedented bureaucratic survey and more than fifteen years of qualitative research, the book emphasizes the building and accumulation of trust to transition from a coercive tax state to a compliant one. The context of the book will appeal to students and scholars of taxation worldwide and to those who study Russia and Eastern Europe. This title is also available as Open Access.

This book is about two things: tax and power. The processes through which tax law is formulated, involve more than the formal legislative and judicial processes which result in statute and case law. Tax law is an expression of tax policy, which is subjective and a heterogeneous product of states, cultures and politics. Regarding taxation as a branch of either black letter law or orthodox economics ignore, or even deny, this subjectivity. This book explores the complex dynamics of the debates which inform tax policy, the interaction between tax and power and how power relations between various groups in society and between individuals and the state are manifested through tax system. This helps to explain why the rules, procedures and practices are all formulated to suit their interests of the most powerful groups in society. Taxation is a powerful lens through which to analyse relationships between individuals and the state, since history has shown that there is a longstanding power relationship between rulers and subjects, which is articulated through tax regimes. Tax can therefore be seen as a technology which mediates such tensions and relationships and the way that choices are made and conflicts are resolved can give valuable insights into societal power relationships.