Education Archive
The Fair Tax Act, Part XLVIII
April 11, 2007 · Category: Education
The next section covers mixed use property (Hank's boat might qualify):
`(a) Mixed Use Property or Service-
`(1) ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part XLVII
April 9, 2007 · Category: Education
Section 704 talks about government enterprises, which are treated more or less like businesses:
`SEC. 704. GOVERNMENT ENTERPRISES.
`(a) Government Enterprises To Collect and Remit Taxes on Sales- Nothing in this ...
Posted by James Kidd · 4 Comments »
The Fair Tax Act, Part XLVI
April 5, 2007 · Category: Education
Section 703 strictly details that governments are taxed under the FairTax (an issue beaten to death, but here we go again I suppose):
`SEC. 703. GOVERNMENT PURCHASES.
`(a) Government Purchases-
...
Posted by James Kidd · 11 Comments »
The Fair Tax Act, Part XLV
April 4, 2007 · Category: Education
The next special rules section is for gaming activities & gambling:
`SEC. 702. GAMING ACTIVITIES.
`(a) Registration- Any person selling 1 or more chances is a gaming sponsor and shall register, ...
Posted by James Kidd · 2 Comments »
The Fair Tax Act, Part XLIV
April 3, 2007 · Category: Education
OK, one of the best chapters in the bill for education reasons: Chapter 7: Special Rules!
`SEC. 701. HOBBY ACTIVITIES.
`(a) Hobby Activities- Neither the exemption afforded by section ...
Posted by James Kidd · 6 Comments »
The Fair Tax Act, Part XLIII
April 2, 2007 · Category: Education
Section 606 establishes the ability of the tax authority to authorize installment payments and also to compromise (settle at lower dollar amounts) taxes/penalties due.
`SEC. 606. INSTALLMENT AGREEMENTS; COMPROMISES.
`The sales ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part XLII
March 30, 2007 · Category: Education
Part e of Section 605 covers privacy information. Warning, this part is long and boring legalese:
`(e) Confidentiality of Tax Information-
...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part XLI
March 29, 2007 · Category: Education
Section 605 covers taxpayer rights. I'll probably do this in two parts:
`SEC. 605. TAXPAYER RIGHTS.
`(a) Rights To Be Disclosed- The sales tax administering authority shall provide to any ...
Posted by James Kidd · 2 Comments »
The Fair Tax Act, Part XL
March 27, 2007 · Category: Education
OK, section 603 & 604 today:
`SEC. 603. PROBLEM RESOLUTION OFFICES.
`(a) Problem Resolution Office To Be Established- Each sales tax administering authority shall establish an independent Problem Resolution Office and ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part XXXIX
March 26, 2007 · Category: Education
Working through section by section, beginning chapter 6!
`SEC. 601. COLLECTIONS.
`The sales tax administering authority shall collect the taxes imposed by this subtitle, except as provided in section 404 (relating ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part XXXVIII
March 22, 2007 · Category: Education
Section 512 creates guides for several interest rates based on length of term, mirroring to some degree the way capital gains taxes are categorized now. These rates are going to be determined and used ...
Posted by James Kidd · No Comments »
The Fair Tax Act Part XXXVII
March 21, 2007 · Category: Education
Section 510 handles required info for receipts:
`SEC. 510. TAX TO BE SEPARATELY STATED AND CHARGED.
`(a) In General- For each purchase of taxable property or services for which a tax ...
Posted by James Kidd · 3 Comments »
FairTax Debate Between Kotlikoff and Gale, at AEI
A news tip from FairTax critic Hayden Kepner: the American Enterprise Institute has published the video of their debate between William Gale and Larry Kotlikoff. You can view the video by going here and ...
Posted by Joshua Zader · 20 Comments »
The Fair Tax Act, Part XXXVI
March 13, 2007 · Category: Education
Today I am posting sections 508 and 509, which cover audits, summons, and records. Not fun stuff for most of us, but we are blogging the whole thing here!
`SEC. 508. SUMMONS, EXAMINATIONS, AUDITS, ETC.
...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part XXXIV
March 7, 2007 · Category: Education
OK, let's finish up with penalties...
`(i) Penalty for Filing False Rebate Claim-
`(1) CIVIL PENALTY; FRAUD- A ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part XXXIII
March 6, 2007 · Category: Education
Continuing on with more penalties:
`(e) Reckless or Willful Failure To Pay Tax- Each person who is required to and recklessly or willfully fails to pay taxes imposed by ...
Posted by James Kidd · 3 Comments »
The Fair Tax Act, Part XXXII
February 28, 2007 · Category: Education, Uncategorized
We'll touch briefly on registration certificates again, then begin on penalties.
`SEC. 504. REGISTRATION CERTIFICATES.
`The sales tax administering authority shall issue certificates of registration to registered sellers and such other ...
Posted by James Kidd · No Comments »
The Fair Tax Act, Part XXXI
February 26, 2007 · Category: Education
Section 502 covers some rules regarding the registration of businesses:
`SEC. 502. REGISTRATION.
`(a) In General- Any person liable to collect and remit taxes pursuant to section 103(a) who is engaged ...
Posted by James Kidd · 2 Comments »
The Fair Tax Act, Part XXX
February 23, 2007 · Category: Education
Wrapping up Section 501...
`(f) Determination of Report Filing Date- A report filed pursuant to subsection (a) shall be deemed filed when--
...
Posted by James Kidd · 14 Comments »
The Fair Tax Act, Part XXIX
February 20, 2007 · Category: Education, Uncategorized
Continuing on with filing requirements for businesses:
`(c) Extensions for Filing Reports-
`(1) AUTOMATIC EXTENSIONS FOR NOT MORE ...
Posted by James Kidd · 2 Comments »
