A synonym for the word controversy is dispute. And nothing feeds dispute more than when those involved in an argument can't agree on what it is they are arguing about. Take for example the case of Bitcoin.
Back in November we posted about the fact that entertainer Tina Turner had reportedly signed the paperwork to give up her U.S. Citizenship in favor of staying in Switzerland. The reason given at the time is that she had married her Swiss partner in July, but there was some speculation that the growing burden of Washington's complicated tax rules, played a role, too.
The King of Pop is dead, but he is far from out of the limelight. Attracting attention currently is a battle between the estate of Michael Jackson and the Internal Revenue Service over the value of intangible assets.
When dealing with the Internal Revenue Service, it would probably be fair to say that the phrase, "It's a pleasure doing business with you," does not gets used much.
Soul singer Tina Turner has voluntarily relinquished her U.S. citizenship. She reportedly signed the papers at the U.S Embassy in Bern, Switzerland, late last month. It probably didn't come as a major surprise. She had announced her plans to do so back in January.
For the last couple of weeks, we've been focusing our attention on the effects the government shutdown is having on taxpayers.
The District of Columbia is an entity unto itself. Those who live within its boundaries know well that they have no vote in Congress. For many, that has sparked cries that they suffer taxation without representation.
As long as a person has income, the Internal Revenue is likely to have an interest assessing taxes. Interestingly enough, this attitude toward taxation doesn't necessarily end when a person passes away. If an estate has a continued income stream, then it may also be required to pay taxes on those earnings, since it is treated as a legal entity.
One of the largest initiatives by the Internal Revenue Service and U.S. Justice Department to enforce tax laws may be about to get a boost. According to recent reports, there are a number of large Swiss banks lining up to cooperate with U.S. efforts in identifying Americans who may hold funds in non-compliant foreign bank accounts.
Some call it corporate tax avoidance. Others call it strategic tax planning. Regardless of what one calls it, there's no doubt that it's been the focus of a lot of attention here in Washington, D.C. in recent months.