Acton Institute Powerblog Archives

Post Tagged 'Internal Revenue Service'

March 27, 2014

How the IRS Killed Bitcoin as a Currency

“For federal tax purposes, virtual currency is treated as property.” With those ten words, the IRS has made it more difficult — if not impossible — for bitcoin and other virtual currencies from gaining widespread, mainstream acceptance as a currency for commercial transactions. Continue Reading...
September 23, 2013

A Confederacy of IRS Dunces

A few months ago I wrote about how when I was a young Marine I learned that when the commanding officer says, “I wish” or “I desire,” these expressions have the force of a direct order and should be acted upon as if they had given a direct order. Continue Reading...
May 23, 2013

IRS Audited 69% of Filers Who Claimed Adoption Tax Credit

Adopting a child can be a laborious, time-consuming, and expensive process. So why is the IRS trying to make it even more laborious, time-consuming, and expensive? As David French notes, in 2012, the IRS requested additional information from 90 percent of returns claiming the adoption tax credit and went on to actually audit 69 percent: So Congress implemented a tax credit to facilitate adoption – a process that is so extraordinarily expensive that it is out of reach for many middle-class families — and the IRS responded by implementing an audit campaign that delayed much-needed tax refunds to the very families that needed them the most. Continue Reading...
May 20, 2013

IRS Asked Pro-Life Group About Content of Public Prayers

IRS agents appear to need a refresher course on First Amendment freedoms. While applying for tax-exempt status in 2009, an Iowa-based pro-life group was asked by the agency to provide information about its members’ prayer meetings: On June 22, 2009, the Coalition for Life of Iowa received a letter from the IRS office in Cincinnati, Ohio, that oversees tax exemptions requesting details about how often members pray and whether their prayers are “considered educational.” Continue Reading...
October 19, 2012

Sixpence to the Good (of Government)

This week I wrote about the dignity of paying taxes (among other ways of contributing to social flourishing). But as we know, not all taxes are created equal. Indeed, as Antony Davies and James Harrigan write this week at US News, “Politicians are in the business of buying votes with tax breaks and sweetheart deals for their preferred constituencies, and they have to offset these deals by taxing disfavored constituencies at increased rates. Continue Reading...
August 14, 2012

Another Reason We Can’t Afford the Affordable Care Act

In addition to internal logical inconsistencies which raise serious concerns of long term economic sustainability regarding the Affordable Care Act (ACA), recently analyzed by John MacDhubhain, Robert Pear reports in the New York Times over the weekend how confusion over certain ambiguities in the law (ironically over the meaning of the word “affordable”) would end up hurting some of the people it is precisely designed to help: working class families. Continue Reading...