Pandemic tax relief encompasses far more than deadline pushes; governments are also writing checks. The US, under the CARES Act[1]Coronavirus Aid, Relief, and Economic Security Act, Pub. L. 116-136, 134 Stat. 281 (2020), is giving many of its citizens and residents a $1200 payment. The IRS calls this an “Economic Impact Payment” (EIP), but the codification in IRC § 6428 calls it an “advance refund amount”[2]IRC § 6428(f).
Continue reading The advance refund is not an advance refundCategory: Uncategorized
Deadlines, Extensions, and Pandemics
With COVID-19 wreaking havoc on people and business, the due dates for filing and paying personal income tax have been extended in both Canada and the US.
Continue reading Deadlines, Extensions, and PandemicsSource and residence
There are 195 countries[1]www.worldometers.info/geography/how-many-countries-are-there-in-the-world/, and you probably pay most of them no income tax. Why?
Continue reading Source and residenceThe power to tax income in Canada
Canada allowed its legislative body the power of taxation more broadly, and more readily, than its neighbour to the south.
Continue reading The power to tax income in CanadaThe power to tax income in the United States
The right of the U.S. government to levy a federal income tax has been unequivocally assured by the Sixteenth Amendment since its passage in 1913, but was prior to that time a vexing question for the judiciary.
Continue reading The power to tax income in the United States