Tag Archives: tax law


All Gay Married Couples Entitled to Federal Tax Benefits

Every same-sex couple who is legally married will have access to federal tax benefits, even if they live in a state that does not recognize their marriage. The announcement, made by the IRS and the Treasury Department last week, puts to rest the question of whether federal recognition would apply based on the state of marriage celebration, or the state of residence of the couple in question. The state of celebration has won out, and included under the umbrella are …

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Posted 8 months ago in Criminal Law Taxation by Michele Bowman  
Jesse Jackson Jr.’s Wife Sentenced for Tax Fraud

Sandra “Sandi” Jackson, the former Chicago alderman and wife of beleaguered Jesse Jackson Jr., on Aug. 14 was sentenced to one year in prison for underreporting the couple’s income.   Double Down Both husband and wife were reportedly sentenced – Sandra for filing false tax returns, and Jesse Jr. for spending campaign money for his personal use – after they pleaded guilty in February. Sandi copped to failing to report $600,000 in income that the couple earned from 2006 to 2012, …

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Posted 12 months ago in Crime Marijuana News of the Weird Taxation by Chuck Shepherd  
Pot May Be Illegal, but the Feds Are Delighted to Tax It

U.S. companies large and small legally deduct the expenses of doing business from their gross profits before paying income tax, but purveyors of marijuana (in states where possession is legal and where prescription marijuana is dispensed) cannot deduct those expenses and thus wind up paying a much higher federal income tax than other businesses. As NPR reported in April, “Section 280E” of the tax code (enacted in 1982 to trap illegal drug traffickers into tax violations) has not been changed …

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There’s No Such Thing as ‘Free’ to the IRS

During the massive February Southern California manhunt for former Los Angeles cop Christopher Dorner, nervous-triggered LAPD officers riddled an SUV with bullets after mistakenly believing Dorner was inside. Instead there were two women, on their early-morning job as newspaper carriers, and LAPD Chief Charlie Beck famously promised them a new truck and arranged with a local dealership for a 2013 Ford F-150 ($32,560). However, the deal fell through in March when the women discovered that Beck’s “free” truck was hardly …

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Posted 1 year ago in Taxation by Aaron Kase  
Don’t Get Screwed by Your Spouse on Tax Day

Tax day is Apr. 15, as many consumers making last-minute trips to the post office are already painfully aware. What some people might not realize is that tax day may be the day that they get screwed over financially by their spouse. The key point to take home: If your husband or wife owes money to the IRS, that means you owe money too. Most married couples file joint returns, making them a unit in terms of tax payments in …

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