Daily Archives: July 22, 2011

Differing Tax Visions of President Obama and Governor Romney

Posted on July 22, 2011 by David L. Silverman, J.D., LL.M. (Taxation)

Much has been made of the recent revelation that Governor Romney enjoyed a 14 percent tax rate on “carried interest,” which Congress permits to be reported as capital gain. Investors such as Mr. Romney pay a lower rate of tax … Continue reading →

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Recent IRS Developments

Posted on July 22, 2011 by David L. Silverman, J.D., LL.M. (Taxation)

A.      Recent IRS Developments Field audits of taxpayers with incomes exceeding $200,000 rose 34 percent in fiscal 2011 to 78,392. IRS Deputy Commissioner Steve Miller stated that “[w]e are looking more at taxpayers at these income levels because we … Continue reading →

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