International Tax Blog

Capitalization Trivia

Prepositions, conjunctions, and articles in the titles of IRS forms and publications are typically not capitalized; but this is not always the case. Sometimes these items are capitalized. I decided to analyze the IRS’ use of capitalization in the titles of forms and publications. The IRS has a webpage where you can view all of their forms and publications. The following is a summary of the types of items included: Publications 1,066 Forms 1,042 Instructions... Read more →

14 New Charts Published

Today we published 14 new situational tax charts to AndrewMitchel.com. We have over 1300 charts for FREE on our website. The recently published charts include: Rev. Rul. 58-1 (Bargain Rentals To Shareholders Results in Constructive Dividends) Rev. Rul. 68-79 (Gain Flowing to Partner Was Long-Term, Even Though Holding Period For Partnership Interest Was Less Than 6 Months) Rev. Rul. 72-232 (Book Royalties to an NRA Were Not U.S. Source Income) Reg. 1.672(f)-1(b), Example (Foreign Person... Read more →

New IRS Practice Unit - FTC (Business) General Principles

Yesterday the IRS published a new practice unit titled: FTC (Business) General Principles This new practice unit has been added to our Practice Units By Topic page. Read more →

2 New IRS Practice Units

Last week the IRS published two new practice units. One was titled: Transfers of Property to Partnerships with a Related Foreign Partner and the other was titled: Accuracy-Related Penalty on Understatements With Respect to Reportable Transactions These 2 practice units have been added to our Practice Units By Topic page. Read more →

Two New Heat Maps – AGI by State & Number of Dependents by State

Today we published 2 new heat maps on AndrewMitchel.com. The first heat map shows the average Adjusted Gross Income (AGI) for each State, with higher income states having a lighter hue and lower income states having a darker hue. The second heat map shows the average number of dependents claimed on each tax return filed for each state, with a higher number of dependents having a lighter hue and a lower number of dependents having... Read more →

Famous Tax Quotes - Taxes Are What We Pay For Civilized Society

Continuing our series on Famous Tax Quotes (quotes from court opinions and rulings with language that is colorful or that concisely states an important tax principle) today's tax quote is: That the receipt of income by a resident of the territory of a taxing sovereignty is a taxable event is universally recognized. Domicil itself affords a basis for such taxation. Enjoyment of the privileges of residence in the state and the attendant right to invoke... Read more →

U.S. Government Continues to Pursue Taxpayers Committing Tax Fraud

As we have reported in past years the U.S. government actively pursues taxpayers that are committing tax fraud and other tax crimes. The Justice Department publicizes its successes in its press releases. The press releases continue to demonstrate an impressive list of tax-related convictions, guilty pleas, injunctions, summonses, and other actions against taxpayers (and tax preparers). Many of the tax fraud schemes include offshore activities. See, for instance: Switzerland’s Largest Insurance Company and Three Subsidiaries... Read more →

New IRS Practice Unit: Overview of IRC 987 and Branch Operations in a Foreign Currency

Last week the IRS published a new practice unit titled Overview of IRC 987 and Branch Operations in a Foreign Currency. This practice unit has been added to our Practice Units By Topic page. Read more →

2021 2nd Quarter Published Expatriates

Today the Treasury Department published the names of individuals who renounced their U.S. citizenship or terminated their long-term U.S. residency (“expatriated”) during the second quarter of 2021. The number of published expatriates for the quarter was 734. See the chart below for the quarterly expatriates from 2011 to the second quarter of 2021. In looking at the chart, it seems that the last two quarters of 2019 were unusually low and the first two quarters... Read more →

IRS Data By Zip Code (Using Python and Flask)

Today we published a new web page which provides IRS data by zip code. The IRS publishes many details of Form 1040 by zip code. For example, the data includes the number of 1040s filed for each zip code and the total adjusted gross income (“AGI”) earned in that zip code. This data allows the average AGI to be computed for each zip code. Our new web page shows a graph comparing the average AGI... Read more →