“Export Ban To Stop £10m JMW Turner Painting Leaving UK”

A short-term export pub has been positioned on a £10m painting by one of the UK’s most famous performers, JMW Turner. The masterpiece, The Dark Rigi, the Lake of Lucerne, depicts a picture in the Swiss mountains – but there are worries maybe it’s exported on the market abroad. Arts minister Rebecca Pow said it would be a “terrible reduction to the complete country” if the painting proceeded to go overseas.

The export ban runs until 1 December, in the hope the amount of money can be elevated to buy it and keep it in the united kingdom. Why is this any of the government’s business? How come this considered A VERY IMPORTANT THING? While Turner is indisputably one of the greats, I’d never heard of this specific painting, and I assume most people hadn’t, ergo it would be no loss to most of us whatsoever. As long as somebody, is enjoying it somewhere, so whether it is. The logical conclusion of this would be that British galleries would send back again all paintings by French performers to France, by German performers to Germany etc in support of screen paintings by British artists. Which I think would make visiting galleries much less interesting anywhere. Ergo, this would be A Bad Thing. Could it be not vastly preferable for every of the main galleries in every country show paintings by performers from round the world?

Proposed §301.6159-1(f)(2) mentioned that levy is not prohibited if an installment contract request was made exclusively to postpone collection. The commenter recommended that the solely hold off collection standard in the proposed regulations be replaced with vocabulary that references the “frivolous submission” standard in section 6702(b) of the Code. This recommendation was not adopted.

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5,000 penalty for installment contract requests that reveal a desire to postpone or impede the administration of the Federal tax laws, and the IRS has not yet developed techniques defining the types of installment contracts that constitute frivolous submissions. The typical in section 6702(b) therefore may not be an appropriate standard for determining those installment agreements that neglect to qualify for the prohibition against the levy.

Section 301.6159-1(g): Suspension of the statute of restrictions on collection. Section 301.6159-1(h): Annual declaration. Section 301.6159-1(I): Biennial review of partial payment installment contracts. Section 301.6159-1(I) of the suggested regulations required the IRS to perform a review of the taxpayer’s financial condition at least one time every two years in cases of partial payment installment contracts. The proposed rules also mentioned that the purpose of the review was to determine whether a rise in payments is warranted. The commenter suggested that §301.6159-1(i) be rephrased to provide that the biennial review of a taxpayer’s financial condition may result in a decrease, as well as a rise, in the amount of payments being made.

This recommendation had not been adopted. While taxpayers may request a decrease in the amount of obligations due under an installment agreement, the IRS does not have the info to make that perseverance unilaterally. The automated biennial review done by the IRS does not, in every case, lead to a obtain updated financial information.