Legal Reporter @TaxNotes Lawyer, economic analyst, reader, working writer. Goal: to be better today than I was yesterday. Views are my own; RTs on a whim.
Joined December 2014
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Chandra Slack Wallace retweeted
A Utah company is pitching investors on a strategy that promises they can avoid income taxes while helping disaster victims. The deal might be too good to be true, but that isn't stopping some tax professionals from promoting it.
Read the investigation: taxnotes.co/4cnTY7s
Chandra Slack Wallace retweeted
From @StephanieSoong: The tax committee of a U.S. business group told Treasury’s top OECD negotiator that it supports the government’s push to ensure that the U.S. tax system exists separately from the OECD's pillar 2 regime. taxnotes.co/4kuXuhX
The story by @LaurenLoricchio and me that @agranato42 is referencing is here (outside the @TaxNotes paywall):
taxnotes.com/featured-news/h….
An addition inspired by @LaurenLoricchio @ChandraSWallace reporting on a maneuver that we learn from the Pandora Papers: (1) create a nearly invisible offshore insurance policy, (2) conduct transactions that appear to run contrary to US law, and (3) onshore the policy tax-free.
Chandra Slack Wallace retweeted
The final draft of my and @AriGlogower's Reforming the Taxation of Life Insurance article is available on SSRN! papers.ssrn.com/sol3/papers.…
Chandra Slack Wallace retweeted
An addition inspired by @LaurenLoricchio @ChandraSWallace reporting on a maneuver that we learn from the Pandora Papers: (1) create a nearly invisible offshore insurance policy, (2) conduct transactions that appear to run contrary to US law, and (3) onshore the policy tax-free.
Chandra Slack Wallace retweeted
If I had to choose, I'd repeal CAMT and leave the buyback tax in place. There is at least a real distortion the buyback tax is trying to address.
taxnotes.com/tax-notes-today…
Chandra Slack Wallace retweeted
ICYMI, don't forget to check out @taxnotes three-part series, "Unwrapped: Lifting the Veil on High-End Life Insurance." The series is based on our review of leaked documents obtained by @ICIJorg
Outside the paywall: bit.ly/3Zvsszf
The next part of the investigative series on high-end life insurance from @TaxNotes is up! Don't miss it.
A legislative proposal to crack down on the abuse of high-end life insurance is expected to be released soon amid investigations by the Senate Finance Committee’s Democratic staff and @TaxNotes.
bit.ly/3Y5Gs0m
The next installment in our series - with @LaurenLoricchio
Don't miss Part 3 of our series Unwrapped: Lifting the Veil on High-End Life Insurance, which shows how private placement life insurance helps business owners minimize their tax liability. From the talented @ChandraSWallace and me. bit.ly/3N79kQt @TaxNotes @ICIJorg
Chandra Slack Wallace retweeted
Check out Part 2 of the @TaxNotes investigations team's series Unwrapped: Lifting the Veil on High-End Life Insurance. Outside the paywall: bit.ly/3XWiuFN @ICIJorg
Don't miss the latest from our team!
New from me, @PaezWrites, @KiarraStrocko, and @ChandraSWallace Inside How Private Placement Life Insurance Slips Through the Cracks. Read more in @TaxNotes (outside the paywall) bit.ly/3Zvsszf
Chandra Slack Wallace retweeted
Vibe check on the Ways and Means side: Rep. Arrington, cornered at the elevators by tax reporters: “Press that button and get me out of here!”
Chandra Slack Wallace retweeted
$35B for child tax credit, same for TCJA breaks, with immediate end to ERC is the current state of play for tax package, Rep. Don Beyer says leaving Dem caucus briefing. @TaxNotes
Chandra Slack Wallace retweeted
Ways and Means chair Jason Smith told reporters there were "great conversations" today about a tax deal, but "there's no timeline." The merry-go-round continues. 🎠
Chandra Slack Wallace retweeted
The IRS has quietly rolled out identity proofing for Freedom of Information Act requests submitted through its online portal, a development that some transparency advocates find concerning. From me in @taxnotes bit.ly/3PDbF6L
Chandra Slack Wallace retweeted
Offshore life insurance is being promoted as a way to avoid taxes on the sale of closely held businesses, a practice some industry professionals think may stretch IRS rules to the breaking point. From me, @paezwrites, @kiarrastrocko, and @chandraswallace bit.ly/3qVwPER
Chandra Slack Wallace retweeted
This companion article goes deeper into the evidence that this is likely what happened. taxnotes.com/tax-notes-today…
Chandra Slack Wallace retweeted
"How Many EITCs Were Lost When IRS Destroyed 30 Million 1099s?" - @ChandraSWallace @TaxNotes taxnotes.com/tax-notes-today…
Low income filers "faced automated correspondence exams... because the IRS said the Forms 1099 for their non-employee income were missing or 'not submitted.'"
The IRS has launched IRIS, its free online portal for filing 1099s.
irs.gov/filing/e-file-forms-…
