Archive for the Tax Planning Category

Texas Gross Receipts: Payments to Other Company Not Excludable From Total Revenue & Certain Purchases Not Deductible as COGS

loan consolidation calculators student A taxpayer’s payments to another company could not be excluded from the taxpayer’s total revenue for Texas franchise tax purposes as flow-through funds, because there was insufficient evidence to establish that the taxpayer had a fiduciary duty to make payments to the company on behalf of customers.…

Read more

House Lawmakers Introduce Bipartisan Dependent Care Tax Relief Bill

see url Taxwriters on the House Ways and Means Committee have introduced a bipartisan bill that would increase the maximum amount of pre-tax dollars employees can set aside for dependent care. The Working Families Relief Bill (HR 2618) was introduced by Rep. Mike Kelly, R-Pa., and House Democratic Caucus…

Read more

IRS Highlights Form 1042-S Filing, Common Errors, Amended Forms and Extensions

liberty loans during ww1 The IRS has reminded withholding agents of their responsibilities, some reporting changes and some common errors. The IRS also described filing requirements for non-U.S. citizens in certain circumstances. The due date for Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, is March 15. To request…

Read more

“Stars Have Aligned” for Tax Reform in 2017, Way and Means Chief Tax Counsel Says

follow link Congressional taxwriting committees’ senior staff and the Joint Committee on Taxation’s (JCT) chief of staff provided a legislative update at the Federal Bar Association’s (FBA) 41st annual tax conference in Washington, D.C. on March 3. The congressional staff previewed their inside perspectives on tax reform and Patient…

Read more

House Republicans Unveil ACA Repeal, Replacement Bill; Markup Scheduled This Week

http://cuba-clothing.com/blog/?m=fast-auto-payday-loans-sacramento-ca House Republicans on the evening of March 6 unveiled their much anticipated Patient Protection and Affordable Care Act (ACA) repeal and replacement legislation. A markup of The American Health Care Act is scheduled in the Ways and Means Committee for Wednesday, March 8. “It is going to…

Read more

Ways and Means Chairman Touts GOP Tax Reform Blueprint at International Tax Law Conference

http://acf.ch/wp/?m=are-online-payday-loans-legal-in-new-york House Ways and Means Committee Chairman Kevin Brady, R-Tex., touted the House GOP “Better Way” tax reform Blueprint on February 3 at the International Tax Policy Forum (ITPF) and Georgetown Law’s Institute of International Economic Law (IIEL) Conference on tax competition in Washington, D.C. Brady delivered the…

Read more

Effort to Repeal Debt-Equity Regulations Met with Disapproval by Ways and Means Democrats

House Ways and Means Committee Democrats on February 8 sent a letter to colleagues urging against a GOP lawmaker’s effort to undo controversial Code Sec. 385 debt-equity regulations. The letter, authored by Ways and Means ranking member Richard E. Neal, D-Mass., and Tax Policy Subcommittee ranking member…

Read more

Repeal and Replacement of ACA to be Concurrent, GOP Says

House Speaker Paul Ryan, R-Wis., said on January 10 that repeal and replacement of the Patient Protection and Affordable Care Act (ACA) will be concurrent. At the same time, some Democratic lawmakers questioned what will be included in any ACA replacement. “We will use every tool at…

Read more

2016 International Tax Legislation

INTERNATIONAL Global trade continued to increase throughout 2016 and with it, increasing attempts to find loopholes and other advantages within applicable Internal Revenue Code Sections. All but a few IRS regulations released throughout 2016 carried the consistent goal of plugging loopholes. And in response to a major…

Read more

2016 Tax Legislation

Although Congress did not pass any large tax bills in 2016, lawmakers did agree on a number of specific tax measures. In March, President Obama signed the Trade Facilitation and Trade Enforcement Act of 2015 (P.L. 114-125), which included an increase in the penalty for failure to…

Read more
Page 2 of 812345...Last »