Steve Lenivy

chart shows that under the bill, people making under $30,000 pay more in taxes, and millionaires pay substantially less.

The Joint Committee on Taxation is up late and busts out this striking distributional analysis of the Senate bill on taxes:

Happy tax day to those who celebrate!

For us exempt tax folks, only one month to go!

Mike Johnson just pulled the vote on the budget resolution. This thread explains why.

Republicans can't go forward with their reconciliation bill to cut taxes for the rich while taking away Medicaid and SNAP until they can agree to an identical budget resolution in each chamber.

(turning on CNBC like I heard Bama's down by 15 and just fumbled a kick return)

Am I ready for the magic of Oriole baseball?

Was in DC for work this week, and brother, you best believe that I am getting a drink on this flight home

The entire world right now

Theme song for this year’s Royal Rumble is from Charli XCX. My worlds collide

Better buy your maple syrup today, gang

Internet language like “woke gender ideology” showing up in government documents will never not be cringe to me.

At some point in his career, Chet Atkins adopted the title “Certified Guitar Player”, the coolest of the professional certifications. Wonder what the continuing education requirements are for that.

Federal workers mandated to return to the office full time and hiring at the IRS frozen until the Secretary of the Treasury decides it’s in the national interest to lift it?

The shorter call times were nice. Godspeed to our colleagues in the Service.

The valuation difficulty was a valid point, and indeed, outside of stock holdings, would have been tough. The proposal outlined that the tax was only going to apply to those with a “net worth of $100M”, so not too many impacted, all things considered. Probably would have seen a safe harbor calc, too

At the end of the day, everything comes down to marketing

I’m a tax accountant, so you’d be right to think that my motivations with respect to the tax code come with bias, but I have always prioritized equity over simplicity in the code. It feels like we missed our last chance for a good, long while to utilize the code to make things more equitable.

The practice of a tax on the appreciation in otherwise unrealized value isn’t new - property taxes exist and impact FAR more people. (Yes, there are differences in both the assets taxed and their taxation.)

Seems like today is as good a day as any to say this, and I realize the mechanics were convoluted (they’d have to be), but I liked the idea of Harris’s unrealized capital gains tax.

Brother, that’s called Customs and Border Patrol

On the flight home from a work trip this afternoon, the man next to me intensely played Balatro for the entire 4 hour trip. Gotta appreciate that level of “locked in”-ness.

Quickly approaching the time of year where I am most grateful to work in nonprofit tax: when folks are looking for someone to do their personal return. (I have good referral CPAs though!)

About that time

Entering the CGI monkey movie discourse, Robbie Williams sounds like Adam Levine (derogatory)

Merry Christmas and happy first night of Hanukkah, gang

Bloomberg tax updates really capping off the year with a bang today

YouTube video by Black Marble Black Marble - All I Want for Christmas Is You

Current Christmas song obsession: Black Marble’s cover of “All I Want for Christmas is You”.

Best and most appropriate YT comment: “This song is like Christmas but you’re in the club crying in a corner.”

Train content, east coast edition

Apparently “hawk tuah crypto rug pull” rounded out the day yesterday.

The space between Vampire Weekend and Danzig feels… significant

We are living in just the absolute dumbest timeline

en.m.wikipedia.org/wiki/Tire_fire