Questions tagged [tax-law]

Dealing with the constitutional, common-law, statutory, tax treaty, and regulatory rules that constitute the law applicable to taxation.

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61 views

Global taxation for US citizens

The United States is pretty unique in requiring their citizens to pay taxes regardless of residence (even if living abroad). I'm surprised that other countries don't enforce the same. It seems like ...
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What happens with the old records from before a country implements CRS?

More and more countries have become members of the Global Forum on Transparency and Exchange of Information for Tax Purposes. It takes some time for a country to become compliant and implement ...
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At what salary do I need to withhold taxes?

My wife and I recently hired a full-time nanny to watch our infant daughter. She works 42.5 hours per week. We're discussing what we should do when COVID finally wanes and we feel more comfortable ...
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UK company A owns some listed shares. Can company A transfer the shares into company B as assets? What's the tax implication?

UK company A owns some listed shares (in a brokerage business account). Can company A transfer the shares into company B (same owner in both companies) as assets without selling them first? Is it ...
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How has pre-emptive taxation been defended? [closed]

How is the government taxing you on money you are yet to make nothing else than an interest free short-term loan you are forced to give them. You only get the chance at a return at the end of the year ...
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1answer
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What prevents a business from separating the liability and revenue into two separate entities?

I know holding companies are a common way to separate the liability of business operations from the assets of a company, but is there any legal reason why businesses don't take this a step further? ...
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Selling from UK to EU as a private seller on an online marketplace with no IOSS number - what to do?

I would like to ask a question that relates to this existing question: Do new VAT rules apply to gifts from non-EU countries? Suppose I am a private, non-business seller on an online marketplace ...
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1answer
27 views

Are donations to a 501(c)(3) made by one of its board member deductible from his income tax?

Assume Mr. Jones is the founding member and sole director of a 501(c)(3) organization. Further assume that he is employed by the ACME corp. Each year, Mr. Jones donates $50,000 of his personal ...
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VAT inclusive prices and receipts

Quite frequently when you buy something online from a company's web-site you see the price and it states that all applicable taxes are included. The company, however, will never disclose to you if ...
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2answers
109 views

What happens to the debt owed due to taxes when living abroad if you renounce your American citizenship?

What happens to the debt owed due to taxes when living abroad if you renounce your American citizenship? Does the debt get cancelled or not? I heard that U.S. citizens living abroad don't have to pay ...
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4answers
91 views

What does this law-excerpt mean?

I need to know what... Tax means the income tax payable under this Ordinance and includes any additional tax, excess profit tax, penalty, interest, fee or other charges leviable or payable under this ...
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1answer
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Is it valid to pass a law that cannot be upheld?

Is it valid to pass a law that cannot be upheld? (Question applies to any jurisdiction) Example: Tax must be paid with legal tender. There is only so much money in the world that can actually be used ...
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1answer
59 views

What is the liability for a contractor / employee asked to create tax submission

This is for Australia, NSW. Can a contractor be held liable (in any way) if they prepare documentation that is used to make an excessive/misleading tax claim? The contractor has been directed to ...
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2answers
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Can you buy a luxury car with cash?

Let's say, hypothetically, you try buying a luxury car or expensive jewelry using cash (100 dollar bills in a bag!). Would that be legal? Will IRS or FBI or anybody come knocking on the door asking ...
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1answer
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How does one enact a self disclosure of crypto currency income for previous years with the Tax office in Germany? (Strafbefreiende Selbstanzeige)

Since 2017, I have been unsure of the Tax implications of crypto currency gains in Germany or how to calculate them. With the introduction of new crypto Tax software I am now confident in my Crypto ...
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1answer
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Under the US tax law, how to determine the taxable income of different classes of shareholders of a regulated investment company?

This question is about a US tax law. Let's say a regulated investment company (RIC) such as a mutual fund has two classes of shareholders, each class being entitled to a different rate of annual ...
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1answer
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Is there a U.S. and/or U.K. counterpart of Australia's AMIT(Attribution Managed Investment Trust) Regime?

The AMIT(Attribution Managed Investment Trust) Regime: The AMIT Regime is a new set of rules for the taxation of managed investment trusts and their members. One of the aims of the AMIT Regime is to ...
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1answer
61 views

How does one remain Tax resident in Germany if one works abroad for a year or more?

How do I maintain my Tax residency in Germany while working outside of the country of Germany for more than 183 days per year? These days may or may not be consecutive depending on the work contract, ...
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Do your gains from Crypto sold within a year in Germany raise your overall tax rate, or do they get taxed at your pre gains income tax rate?

I sold some of my crypto within the one year holding period in Germany. Crypto hodled for more than a year in Germany is tax free (neither Capital Gains or Income Tax). I am a musician and only earn ...
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Making Money and not filing an Income Tax Return

I have a friend who works as a teacher. He claims that for several years he has made money and paid all the income tax that he owed and maybe a bit more. He has not filed an income tax return. I do ...
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1answer
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Can you be prosecuted for tax information which would lead to an overestimate in the amount of taxes you owe?

Suppose you pay more taxes than you owe, either because you neglect to use a tax credit or deduction that you could claim, you put $0 for charitable giving as a result of forgetfulness, poor record-...
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1answer
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Has a company been indicted for failing to pay taxes on benefits?

A similar question has been asked on Skeptics.SE. The New York Times wrote on Friday: The Manhattan district attorney’s office has informed Donald J. Trump’s lawyers that it is considering criminal ...
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Is there a tax treaty between US and Egypt?

I'm a non-US citizen and I was asked to fill a Form W-8BEN. I googled and I know that there is a tax treaty between US and Egypt but I still don't know the percentage (default tax is 30%). It is also ...
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2answers
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Selling property to low-net-worth buyer

Suppose that someone inherited a plot of undeveloped land in a small town in California. The town has a few houses and businesses, but is mostly comprised of undeveloped lots. Even so, suppose this ...
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Should a business owner pay two different taxes for one thing? (One tax for his company and the second tax for his income from that company) [closed]

Let's think David and Sara have a bicycle company(Each person owns 50% of the company). The company's annual revenue is $200,000 and net profit is $100,000. How much tax should they pay for the ...
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Is a subsidiary partnership (i.e. where a General Partner (GP) owned 96% of the stock) also considered "wholly-owned" (i.e. by the GP)

I get how, according to US partnership constructive ownership attribution rules, a partner that has less than 5% of the partnership stock isn't treated as an owner. However does this also mean that a ...
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1answer
39 views

I just arrived to the US with the F-2 (student's dependent) visa, can I get an ITIN?

I just arrived to the US (from May 31 2021) and I want to get an ITIN. I have F-2 visa which depends on my wife's F-1 student visa. I want to know can I apply for ITIN just by filling out and sending ...
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A UK company buying services from a web-agency from Germany after brexit, what are the tax implications?

Scenario: A UK company wants to establish a 4 months contract with a web-agency in Germany. 1 web developer, from the said German web-agency, will deliver services. The German agency will invoice the ...
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1answer
52 views

Disclosure obligations to employers: UK full-time salaried employee intending to take up additional paid employment 20% with a non-competing business

I recently started working full-time (i.e. approx 37.5 to 40 hours/week) in the UK as a permanent employee of a UK-based private organisation, with monthly salary paid through BACS to my UK bank ...
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1answer
152 views

Can you defer capital gains tax with margin trading?

Assume I bought 1 bitcoin at $0 and it's now worth $100k. I am worried that the price will drop soon, so I sell my bitcoin. Bitcoin does indeed drop and comes down to $10k, where I then decide to buy ...
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1answer
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Are tax crimes' punishments in general proportional to the amount of money?

Let's say that I sell 0.001 BTC right now on Bisq (decentralized P2P exchange) and the buyer sends me $500 USD to my bank account. I then use that $500 to buy a pair of headphones for myself. Or I ...
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6k views

Can you avoid capital gains tax by taking out a loan and not repaying debt?

Let's say I have 1 bitcoin and I am selling it for $100k, and I bought it for $0 at the time. Assuming a Capital Gains Tax rate of 33% I would owe $33k, leaving me with only $66k. Could I instead get ...
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1answer
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The Constitution, Law, and Income tax [closed]

First let me say this, I'm not a Sovereign citizens, i'm not trying to not pay taxes, i'm not trying to argue if it is legal or not that you have to pay, you do. What im more interested in is the ...
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1answer
163 views

Are there legal limits to U.S. states taxing out-of-state income?

When a New York State non-resident has NYS income, NY's tax rates are based NOT on the absolute amount of the NYS income, but on the non-resident's federal income, pro-rated to the percentage earned ...
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1answer
86 views

When, if ever, did the United States governemnt declare the Coronovirus to be a "Natural Disaster"?

For the purposes of this post, I do not care when infection rates from the coronavirus (COVID-19) took off in reality. I am interested in the legal abstraction of when the United States federal ...
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1answer
50 views

Is money received for donating blood supposed to be listed on income taxes?

My question pertains to law in the United States. In the United States, when people donate blood plasma, they are sometimes given money. For example $50.00, to spend 4 hours donating 880ml of blood ...
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If our nation takes on debt now that will have to be paid by gen z later isn't that taxation without representation? [closed]

We have representatives but gen z does not. How is it fair to spend their money before they are even old enough to have a say? Was the idea of pushing debt onto future generations so unthinkable that ...
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1answer
76 views

Is a company liable if an employee illegally works across the border? [closed]

As a US based company, if an employee illegally works from a foreign country in violation of company policy, will the company be held liable for taxes and fines for this action? If the company is held ...
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1answer
68 views

Are foreign *assets* (not income), pre-dating moving to the US, taxable?

A person who immigrated to the US 10 years ago still has two bank accounts abroad that she did not close. No money has been added to the accounts since then, there was no activity and no interest ...
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Moving to Germany - Einküfte/income before the move in the Steuererklärung/tax reclaim

I hope someone would help me in this matter. In 2020 I was in Poland for the first seven months, and then, since August, I'm in Germany. I have received income from employment in both countries, in ...
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1answer
90 views

Is there a penalty for late registration of self employed status in Germany?

I believe it is the case (please correct me if this is wrong) that if someone earns money in Germany on a self-employed basis, then they are supposed to register as self-employed with the local ...
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1answer
93 views

In the State of NY, if I have no income, but I have a house — do I need to pay property tax?

If I need to pay property tax on the house, are there any exemptions, based on the fact that I have no income? Is it relevant what the tax assessment of the house is? When I look at houses in house ...
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2answers
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How does international income taxes work when the buying intermediary platform is in the United States and recipient corporation's country is India?

The question is a bit broad. Assume a person A buys something in Europe. This is a digital product which is sold through a platform provided by an American company. After sales are made the final ...
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Taxing companies owned domestically, but registered abroad

In a book by economists Saez and Zucman, they state the following: In 1936, dozens of wealthy Americans had created offshore shell companies, to which they had transferred the ownership of their ...
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1answer
34 views

Non resident tax while working remotely

I am an F1 student on OPT and my employer is based out of Washington. This would be my only source of income. Given the remote work situation now, I am planning to stay in a different state and work. ...
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1answer
41 views

Apportion of revenue tax: how would it be implemented?

The following is a quote of The Triumph of Injustice by Saez and Zucman. According to the Constitution, direct taxes had to be apportioned among the states according to the population of each state. ...
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1answer
90 views

Is there any doubt about crypto-currency and like-kind exchanges?

If I sell crypto, can I purchase new crypto and avoid paying capital gains tax on it? It seems the IRS is very clear about it, Under the Tax Cuts and Jobs Act, Section 1031 now applies only to ...
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2answers
1k views

When did U.S. tax code limit the personal Capital Loss Deduction to $3000?

Beginning in the late 1970s, after capital losses offset capital gains dollar for dollar, the allowable deduction on the IRS 1040 form for capital losses coming from Schedule D was $3000. The same is ...
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2answers
142 views

If a state seceded from the United States, would its residents still owe US federal income tax under US law? [closed]

Assume Texas' threat to form a union of states materializes and those states break away and begin levying their own taxes. The USA continues to claim that territory but has no de facto control. Are ...
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1answer
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Are corporation assets included on IRS offer in compromise (form 433-A)?

In the IRS offer in compromise process, the individual fills out the 433-A form that lists their personal assets. What if the individual is the sole shareholder of a standalone, incorporated business?...

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