Taxable Talk

The IRS periodically releases draft tax forms, and yesterday a new draft of Form 1040 was released.

Yesterday, the Court of Appeals for the Federal Circuit reversed the Court of Federal Claims; the Court of Federal Claims had held that the Net Investment Income Tax (NIIT) could be offset by a foreign tax credit.

When I wrote two weeks ago that, “The prediction market debate…is likely to be settled sooner rather than later,” I had forgotten that Kalshi had appealed their loss to Nevada at the District Court level to the Ninth Circuit Court of Appeals.

On one side, there’s Kalshi, Polymarket, and all other companies offering prediction market sports wagers–err, sports predictions–allied with the Commodities Futures Trading Commission (CFTC).

Thousands of poker players (9,208 to be exact) came to Las Vegas over the Fourth of July weekend to enter the main event of the World Series of Poker (WSOP) all looking for the $10 million first prize.

The saga of former Supreme Court litigator Tom Goldstein concluded on Friday in Greenbelt, Maryland.

Yesterday, I picked up a copy of the very first income tax form: the 1913 Form 1040.

One of the tools tax professionals (and savvy taxpayers) use are IRS Wage & Income Transcripts.

Yesterday, I noted that I had made 41 tries to reach the IRS’s Practitioner Priority Service and received a “courtesy disconnect” each time.

I need to speak to the IRS’s Practitioner Priority Service regarding (as of today) ten client matters.

There are no typographical errors in the headline of this post.