He also serves as an adjunct professor
of tax law at the Beasley School of Law, Temple University.
Joe Bankman, a professor
of tax law at Stanford University, believes that filing taxes in American can be easier and that there's a better way.
This is how Joe Bankman, a professor
of tax law at Stanford University, explains the absurdity of paying taxes in America.
Chris «Ludacris» Bridges narrates Ward Serrill's inspirational documentary, which focuses on Bill Resler, a professor
of tax law at the University of Washington, who takes up a position as women's basketball coach at nearby Roosevelt High School.
Kirk Stark, a professor
of tax law at the University of California, Los Angeles School of Law, said there is a slight possibility that a federalism argument against limiting the SALT deduction could gain traction.
«As a general matter, nothing prevents the federal government from changing the SALT deduction,» said David Gamage, a professor
of tax law at Indiana University's Maurer School of Law.
Joe Bankman, a professor
of tax law at Stanford University, believes that filing taxes in American can be easier and that there's a better way.
Arthur Cockfield, a professor
of tax law at Queen's University, was retained by the panel to research a number of issues, including interest deductibility and double - dipping.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global economic uncertainty or otherwise; 8) the effect
of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production
of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact
of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition
of Asco on favorable terms or
at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental
laws, such as U.S. export control
laws and U.S. and foreign anti-bribery
laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental
laws and agency regulations, both in the U.S. and abroad; 20) the effect
of changes in
tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other thin
tax law, such as the effect
of The
Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other thin
Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations
of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect
of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness
of any interest rate hedging programs; 28) the effectiveness
of our internal control over financial reporting; 29) the outcome or impact
of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign
laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Adjusted shareholders» equity is shareholders» equity excluding net unrealized investment gains (losses), net
of tax, included in shareholders» equity, net realized investment gains (losses), net
of tax, for the period presented, the effect
of a change in
tax laws and
tax rates
at enactment (excluding the portion related to net unrealized investment gains (losses)-RRB-, preferred stock and discontinued operations.
The outside firm can often cost less than the salary and benefits
of a full - time employee and,
at the same time, you may be getting a higher level
of advice from a CPA or a
tax accountant, the latter
of whom usually is a licensed CPA and a lawyer specializing in
tax law.
Core income (loss) is consolidated net income (loss) excluding the after -
tax impact
of net realized investment gains (losses), discontinued operations, the effect
of a change in
tax laws and
tax rates
at enactment, and cumulative effect
of changes in accounting principles when applicable.
Although President Donald Trump signed the Republican
tax bill into
law at the end
of December, new federal
tax brackets will only affect income earned starting January 1, 2018.
Changes to the
tax law at the end
of 2017 created a lot
of confusion.
A key feature
of the
law involves the 20 percent deduction for pass - through income — that is, business income that is
taxed at an individual
tax rate instead
of through the corporate
tax structure.
Income -
tax - evasion rates in Argentina are roughly 60 percent, and evasion of the value - added tax is roughly 40 percent, according to Marcelo Bergman, a professor at Mexico City's Center for Economic Research and Teaching and the author of Tax Evasion and the Rule of Law in Latin Ameri
tax - evasion rates in Argentina are roughly 60 percent, and evasion
of the value - added
tax is roughly 40 percent, according to Marcelo Bergman, a professor at Mexico City's Center for Economic Research and Teaching and the author of Tax Evasion and the Rule of Law in Latin Ameri
tax is roughly 40 percent, according to Marcelo Bergman, a professor
at Mexico City's Center for Economic Research and Teaching and the author
of Tax Evasion and the Rule of Law in Latin Ameri
Tax Evasion and the Rule
of Law in Latin America.
Apple turned to
tax avoidance experts
at the
law firm Appleby for that advice, according to emails disclosed in a huge leak
of financial documents known as the Paradise Papers, the New York Times and BBC reported on Monday.
«As phenomenal as the generosity the Zuckerbergs are showing is, it comes against the background
of the remarkably generous
tax treatment he has gotten for the wealth he has earned,» says Brian Galle, a professor
of law at Georgetown University and a specialist in
tax issues.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended
at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in
tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
tax (including U.S.
tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
tax reform enacted on December 22, 2017, which is commonly referred to as the
Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other
laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or
at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their businesses while the merger agreement is in effect; (21) risks relating to the value
of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
At the biggest healthcare conference
of the year, executives are happy about the new federal
tax law — but not for the reason you may expect.
Impact
of Tax Reform Law, primarily re-measurement of deferred tax assets at lower corporate tax ra
Tax Reform
Law, primarily re-measurement
of deferred
tax assets at lower corporate tax ra
tax assets
at lower corporate
tax ra
tax rates
For instance, on his blog Baseline Scenario, University
of Connecticut
law professor James Kwak makes many
of the same points as Quittner — the Zuckerberg - Chan donation isn't really a donation
at all but a newly formed LLC that will have significant
tax benefits for the couple, who will retain almost complete control over their money.
Following is a look
at how blue collar workers in a number
of occupations, from food preparation workers to power plant operators, could see their
taxes change next year if the
tax plan becomes
law.
However, the practice
of recharacterizing Roth IRAs ended
at the conclusion
of 2017 with the passage
of new
tax laws by Congress.
Inter IKEA Systems B.V., the Dutch company
at the heart
of the investigation, said in a statement: «Inter IKEA Group including its subsidiary Inter IKEA Systems B.V. is committed to paying
taxes in accordance with
laws and regulations wherever we operate.
These AMT exemption amounts, which were expanded under various
tax laws in 2001, 2003 and 2004, expired
at the end
of 2005.
That makes the treatment
of syndicated easements a telling prism through which to view the
tax system
at a moment in which Congress has been frantically redrafting the
tax laws.
As you more than likely know,
at the end
of 2017, new federal
tax legislation was signed into
law.
At the same time, Americans, regardless
of party, are largely uncertain what effect the new
tax law has had on their own
taxes.
(m) Except as otherwise set forth in Schedule 2.20 (m)
of the Disclosure Schedule, all related party transactions involving the Company are
at arm's length in compliance with Section 482
of the Code and the Treasury Regulations promulgated thereunder and any comparable provision
of any
Tax law.
Drawing from our knowledge
of debt restructuring, bankruptcy, public finance, municipal
law and governance, labor
law, employee benefits,
tax, litigation, government contracts and more, our attorneys are adept
at positioning municipalities for long - term success.
Here we take a look
at some
of the Trump
tax law changes proposed during his campaign, consider the impact
of those changes and the likelihood
of these proposals actually becoming
law in 2017.
Below, we will review those two
laws in depth and take a look
at property
tax rates across the state
of Oregon.
UCLAW alum and now a visiting scholar and senior fellow in residence
at the Lowell Milken Institute for Business
Law and Policy
at the UCLA School
of Law has a great summary
of the likely effect
of tax reform on executive compensation.
Under the new
tax law, companies that make a one - time repatriation
of cash will be
taxed at a rate
of 15.5 percent on cash holdings and 8 percent on nonliquid assets.
And once you get here, there are a myriad
of special
tax incentive
laws aimed specifically
at investors and entrepreneurs that can dramatically reduce or eliminate
taxes on business and investment income.
Factors that could cause actual results to differ materially from those expressed or implied in any forward - looking statements include, but are not limited to: changes in consumer discretionary spending; our eCommerce platform not producing the anticipated benefits within the expected time - frame or
at all; the streamlining
of the Company's vendor base and execution
of the Company's new merchandising strategy not producing the anticipated benefits within the expected time - frame or
at all; the amount that we invest in strategic transactions and the timing and success
of those investments; the integration
of strategic acquisitions being more difficult, time - consuming, or costly than expected; inventory turn; changes in the competitive market and competition amongst retailers; changes in consumer demand or shopping patterns and our ability to identify new trends and have the right trending products in our stores and on our website; changes in existing
tax, labor and other
laws and regulations, including those changing
tax rates and imposing new
taxes and surcharges; limitations on the availability
of attractive retail store sites; omni - channel growth; unauthorized disclosure
of sensitive or confidential customer information; risks relating to our private brand offerings and new retail concepts; disruptions with our eCommerce platform, including issues caused by high volumes
of users or transactions, or our information systems; factors affecting our vendors, including supply chain and currency risks; talent needs and the loss
of Edward W. Stack, our Chairman and Chief Executive Officer; developments with sports leagues, professional athletes or sports superstars; weather - related disruptions and seasonality
of our business; and risks associated with being a controlled company.
Tax laws are subject to change and the preferential tax treatment of municipal bond interest income may be revoked or phased out for investors at certain income leve
Tax laws are subject to change and the preferential
tax treatment of municipal bond interest income may be revoked or phased out for investors at certain income leve
tax treatment
of municipal bond interest income may be revoked or phased out for investors
at certain income levels.
Traditionally, Congress and the administration have used a «current
law baseline» that assumes that discretionary spending grows
at the rate
of inflation and mandatory spending and
tax revenues are determined by current
law.
All told, these three
laws contain eight different small business
tax cuts, including the exclusion
of up to 75 % capital gains on key small business investments, a
tax credit for the cost
of health insurance for small business employees, and new
tax credits for hiring Americans who had been out
of work for
at least two months.
Farrington pointed out that the
tax law passed
at the end
of 2017 changed how the interest on home equity loans is treated —
at least between 2018 and 2026.
Today, we share insights from Lutz Auffenberg
of Winheller Attorneys
at Law and
Tax Advisors.
Under current federal
law, long - term capital gains for individual investors in the fund are
taxed at a maximum rate
of 15 %.
The House bill, for instance, exempts income from professional partnerships like
law firms from the lower rate, and limits other people who actively work
at their pass - through companies to having only 30 percent
of their income
taxed at the new lower rate.
Much
of this is overseas, but the aforementioned recent
tax law changes in the US also includes a one - time
tax break on repatriated cash — this is provoking Amgen to bring
at least some
of this money back home.
«This is the kind
of tax reform and
tax cuts that get our economy growing to reach its potential,» House Speaker Paul Ryan said when celebrating the
law's passage
at an event on the White House lawn in December.
In addition to the lower
tax rate mentioned above, the new
tax law gives GOOGL the opportunity to repatriate some
of its $ 100 + billion in excess cash
at a lower 15.5 % rate.
Among the many amazing opportunities I have had as a
law professor
at the University
of Nevada, Las Vegas is continuing my work with immigrants on their
tax issues.
Using the home mortgage interest deduction as a case study, Hemel and Kyle Rozema, a postdoctoral fellow
at the Northwestern - Pritzker School
of Law, argue that labeling a
tax provision as «progressive» or «regressive» should not be done in isolation.
Under federal
tax law, most owners
of IRAs (except Roth IRAs) must withdraw part
of their
tax - deferred savings each year, starting
at age 70 1/2 (or after inheriting an account).