Tax Compass

  • Is It Time For A Flat Tax On Private Foundations?

    Robert Lyons, CPA, MST
    Apr 1, 2016

    Under our current federal tax structure, private foundations pay a 2% excise tax on their net investment income when filing Form 990-PF.  In certain years, the 2% rate can be reduced to 1% when the foundation’s charitable distributions exceed the average distributions during a five-year averaging process. This is determined on Part V of Form 990-PF. 

  • 3 Solutions to New York Tax Inequities

    William F. Berardi, CPA
    Feb 1, 2016
    In 2012, Gov. Cuomo tasked the New York State Tax Reform and Fairness Commission to review the state’s complex tax code and recommend ways to simplify it. The commission’s final report, issued in 2013, highlighted several areas of tax inequality that remain on the state’s books. 
  • Governments’ Accountability for Tax Revenue

    Michele Mark Levine, CPA
    Oct 1, 2015
    While not the usual venue, there is perhaps no more logical a place to discuss government financial reporting than in a tax publication.  What is at the very core of taxation, if not the exchange of resources for the benefits of civil society?

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