Jemel Smith

The Evolution of the Tax Professional Starts Here

Summary: Today’s tax pros typically earn a bachelor’s degree in accounting. Those sorts of classes prepare future tax pros to put the “right” numbers in the “right” boxes on the “right” forms. But those core skills are becoming less and less valuable all the time. Technology used to help us do that work more efficiently. Now, …

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As Time Goes By

Summary: As part of their 2023 budget, Congress floated a “hybrid” tax on increases in wealth. Specifically, they proposed going all Will Smith on households worth $100 million or more, slapping them with a “Billionaire minimum tax” of 20% on their full income – including unrealized appreciation on their stock.   In 1942, Captain Louis Renault, commander …

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Lights, Camera, Action!

Summary: This weekend, Hollywood’s elite gathered to do what they do best: celebrate themselves at the Oscars. There’s one unsung group, though, that still isn’t getting the red carpet they deserve, and that’s the tax professionals who make the movie money machine go ‘round. The Academy won’t ever award a statuette for Best Performance Lobbying a …

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From Russia With Love

Summary: It shouldn’t surprise you to learn how big a role the IRS is going to play in chasing Putin’s cronies. The IRS Criminal Investigations (CI) unit, with 3,000 employees, has launched more than 20 cases related to oligarch money laundering since 2017. Those efforts will kick into overdrive as sanctions tighten.   Vladimir Putin’s …

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Fill ‘er Up!

Summary: Gas tax defenders agree that giving up the tax would make great politics. But they point out it would benefit those who drive the biggest and least efficient vehicles most. But oil companies, already making record profits, would try to pocket as much of the tax savings as they could keep for themselves.   …

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