Monthly Archive:: August 2021
Wyden Takes Aim At US Pass-Through Income Tax Break
August 6, 2021
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TweetShareSharePin0 Shares by Mike Godfrey, Tax-News.com, Washington 06 August 2021 Senate Finance Committee Chair Ron Wyden (D-OR) has introduced legislation to overhaul the 20 percent deduction for pass-through income introduced into US tax law in 2017.
The deduction – also called the Section 199A deduction – allows individuals to deduct up to 20 percent
Notice provides information on claiming the employee retention credit for third and fourth quarters of 2021
August 5, 2021
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TweetShareSharePin0 Shares The IRS issued Notice 2021-49 Wednesday that includes guidance on the extension and modification of the employee retention credit (ERC) under Sec. 3134, added by the American Rescue Plan Act (ARPA), P.L. 117-2. The notice amplifies Notices 2021-20 and 2021-23 (see also “IRS Issues Employee Retention Credit Guidance” and “How to Claim the
Technology
August 5, 2021
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TweetShareSharePin0 Shares Dad’s Blog Hack Posted by pcordero15 on 2014-03-03 07:09:00 Tagged: , Technology TweetShareSharePin0 Shares
Can The Country Afford Hillary Clinton As President
August 5, 2021
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TweetShareSharePin0 SharesCan The Country Afford Hillary Clinton As President Before I start I would like to admit that I am a conservative. I am not a Republican, I despise President Bush for his big spending policies and I am sorry I ever voted for him. If I do not like his level of spending you
New Report Shows TCJA Reduced Tax Rates Across the Board
August 5, 2021
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TweetShareSharePin0 Shares Wednesday, the Congressional Budget Office (CBO) published its annual analysis of the distribution of American household incomes and tax burdens, this time for 2018, the year after the Tax Cuts and Jobs Act (TCJA) was enacted. CBO data shows that the TCJA reduced federal tax rates for households across every income level while
Why Full Cost Recovery Is Right Even if Assets Increase in Value
August 5, 2021
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TweetShareSharePin0 Shares Critics of depreciation deductions for business expenses in the tax code occasionally argue that assets that can go up in value, like structures or sports teams, should not receive the same depreciation deductions as assets that decline in value. That criticism is driven by a deeper dispute over whether businesses should be taxed
TAX
August 5, 2021
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TweetShareSharePin0 Shares Mamiya C3, Sekor 80mm f2.8, Kodak Ektar 100, f8 1/250 I spent a while trying to frame this when I shot it, and then a while messing around with rotating the scan, but ultimately left things pretty much as they were. The geometry seems a little off-kilter — when the lamppost is straight,
Business
August 5, 2021
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TweetShareSharePin0 Shares Source: www.pixmac.com/picture/two-managers-making-a-deal-3/00019… Posted by vlczak11 on 2009-05-28 09:20:47 Tagged: , business TweetShareSharePin0 Shares
A Better Fit for a Better Tax Code
August 5, 2021
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TweetShareSharePin0 Shares Binyamin Applebaum of The New York Times recently authored an op-ed calling for the adoption of return-free filing. Under return-free filing, many taxpayers would receive an already-completed return that they could amend. It’s an appealing idea, but for it to deliver its promised benefits, the U.S. tax code would have to be much
Tolling the Statute of Limitations by Filing Bankruptcy
August 5, 2021
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TweetShareSharePin0 Shares The case of Lufkin v. Commissioner, T.C. Memo 2021-71, puts the Tax Court in a position to rule on the impact of filing bankruptcy on the statute of limitations. The taxpayers raise arguments not only regarding the collection statute of limitations but also the validity of the underlying assessment, which gives me the
