Tax Machine Blog™

IRS Cautions: Terrorist Organizations Cannot get Tax Exempt Status

So, HuffPo is getting a little bit worked up about the new streamlined IRS procedures, which will allow non-profits to start fundraising right away without waiting at least several months and filing out a 26-page form. See, the Huffington Post (also Time Magazine) thinks that these new procedures will result in “dark money” proponents committing…

Tax Firm Takedown. How did WaPo get it so wrong?

BY: THOMAS S. GROTH, ESQ (@tsgESQ) With her piece at the Washington Post this week, Michelle Singletary tries to tell us that “Tax-relief ‘rescues’ are really a ruse.” She doesn’t even feel the need to qualify the statement. Is she on the IRS payroll? I understand the urge to go after the entire industry, even…

Taxmachine.us issues press release stating that bitcoin is actually more like a currency

The Tax Blog, Taxmachine.us has issued a press release stating that bitcoin is more like a currency than property, and  “describes how existing general tax principles apply to transactions using virtual currency.  The notice provides this guidance in the form of answers to frequently asked questions.” Well, it’s too bad that taxmachine.us isn’t irs.gov, isn’t…