It may sound at first like a political talking point to say that there are more and more Americans giving up citizenship because of high tax rates, however, recent data shows that in fact more people are pursuing this option and that in many cases it can be linked to taxes. In 2013 3,000 Americans decided to give up their citizenship, according to government publications. This is a major increase from the previous year, when only 993 people gave up their citizenship.
Members of the Agua Caliente Band of Cahuilla Indians are continuing to pursue litigation against the county where their reservation is located, arguing that the county is unlawfully imposing taxes on the tribe.
We’ve written on this blog in the past about the renewed efforts by the Internal Revenue Service (IRS) to enforce anti-tax evasion laws. One of these efforts include cooperation with foreign governments and new agreements on disclosure of Americans who have bank accounts abroad.
Some readers may already be familiar with a law known as FACTA, short for the Foreign Account Tax Compliance Act. FACTA is an anti-tax evasion law in the United States that impacts foreign transactions and is one that requires cooperation from other countries on issues of reporting and financial regulation.
The wait is over for 2014 tax provisions! If you weren’t necessarily sitting by your computer waiting for the news to come in, that’s alright. Tax issues are interesting to those who work with tax law every day, so the average reader might not be keeping close tabs on the comings-and-goings of the Internal Revenue Service.
A few weeks ago we discussed a very serious and controversial tax issue that was slated to hit California investors. In particular, people who invested in small businesses within the last five years. In 2008, the California government gave a tax break to people who chose to invest in a small business. Last winter, however, a court called the tax break partially unconstitutional.
The story of Ryan Andresen's ouster from his Boy Scout troop earlier this year caused wide-spread controversy about the role of gay youth in the National Boy Scouts of America. Andresen was initially denied the scout's highest honor, Eagle Scout designation, because he was gay. Once the story became a national headline, he was eventually reinstated and the scouts changed its policy on gay members.
According to a California law that was enacted five years ago, people who wanted to invest in small businesses in our state could get a tax break. With that incentive, many people chose to invest their money in promising companies across our state. The benefits of this law are clear. Small-businesses can increase their chances of succeeding in a competitive state, and investors are rewarded through tax breaks for supporting them. Unfortunately, the state is now telling these investors to pay up.
In a legal challenge that claims that a recent real estate tax measure will hurt local California businesses, two plaintiffs have initiated a tax litigation procedure that seeks to have it declared illegal. The suit alleges that the Centinala Valley high school district is attempting to raise money to hire extra teachers and expand school programs by illegally and disproportionately assessing higher local real estate parcel taxes on businesses in the district. Four local elementary school districts in the area are also named in the tax litigation procedure along with the Centinala Valley High School district.
Last year a series of high-profile mass shootings cast a national spotlight on the issue of gun control, dividing the nation on the issue of whether more or less regulation is the key to preventing gun violence.