The Plutus Awards 2011
Bernard Wolfman, tax code critic, dies

Last week at my other tax blog: CEO pay bests IRS payments; Disaster deductions

Disasters can come in many forms. Most of the time when we hear that word, we think of natural calamities such as Hurricane Irene and the Joplin, Mo. and Tuscaloosa, Ala. tornadoes.

But financial catastrophes, especially when it comes to taxes, abound, too.

Bankrate Taxes Blog icon These two topics shared space last week at my other tax blog.

Let's start with the obvious. Many along the Eastern Seaboard were digging out of the debris left by Hurricane Irene. In such dire situations, taxes are the last thing folks want to think about. But for a lot of disaster victims, there's some deductible hurricane help.

Note to folks along the Gulf Coast where Tropical Storm Lee is making landfall, you might want to check out that post, too.

Then we have what many view as a major fiscal disaster, the way some U.S. companies are able to whittle down their tax bills to effectively negligible amounts. In fact, a lot of major corporations end up each year paying their CEOs more than they pay the IRS.

Of course, in most of the low corporate tax situations, the dramatically reduced tax liabilities are achieved by legal means. As the saying goes, hate the game, not the player.

You can check out new posts each Tuesday and Thursday at my Bankrate Taxes Blog. And if you happen to miss them there, you can find a wrap-up on here each Saturday.

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ngan hang

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