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Monthly Archive:: September 2021

Final regs. issued on qualified improvement property under FDII, GILTI

TweetShareSharePin0 Shares News FOREIGN INCOME & TAXPAYERS By Paul Bonner The IRS published final regulations (T.D. 9956) Wednesday addressing the treatment of qualified improvement property (QIP) for purposes of calculating qualified business asset investment (QBAI) for QIP under the alternative depreciation system (ADS) under Secs. 250 and 951A — respectively, the foreign-derived intangible income

Youth.

TweetShareSharePin0 Shares We are the reckless We are the wild youth Chasing visions of our futures One day we’ll reveal the truth That one will die before he gets there And if you’re still bleeding, you’re the lucky ones ‘Cause most of our feelings, they are dead and they are gone We’re setting fire to

Economy Loses More than Revenue Gains

TweetShareSharePin0 Shares As Congress debates next steps on the tax provisions in the Build Back Better Act proposed in the House Ways and Means Committee, it is important to consider the economic impacts, which include reduced economic output, wages, and jobs. Due to the plan’s economically costly and inefficient tax increases, we find that long-run

Congress’s Debt Limit Problem Is Toddler Fiscal Policy

TweetShareSharePin0 Shares Partisan congressional squabbling over the nation’s debt limit once again threatens to shut down the federal government and perhaps trigger a worldwide financial crisis. The debt limit as currently structured is toddler fiscal policy. Every parent of a young child knows what I am talking about: Little Peter gets all dressed up in

Technology

TweetShareSharePin0 Shares Taken for ODC challenge "Technology" Posted by Sweet_pixel on 2011-04-13 13:52:39 Tagged: , ODC2 , iphone , flickr , Technology TweetShareSharePin0 Shares

State Unemployment Trust Funds, 2021

TweetShareSharePin0 Shares Key Findings States have paid out $175 billion in unemployment benefits since the start of the pandemic, with the federal government providing an additional $660 billion. Taking debt into account, state trust funds now have a negative aggregate balance of -$11 billion and are $115 billion shy of minimum adequate solvency levels. States

Jeopardy Assessments

TweetShareSharePin0 Shares Jeopardy assessments are relatively unusual and have not been heavily covered on PT, with the exception of the District Court and Tax Court cases of former Pennsylvania state Senator Vincent J. Fumo. I first wrote about the government’s attempted jeopardy assessment against Mr. Fumo early in the life of this blog, here and

A Big Vote in the House

TweetShareSharePin0 Shares The House passes the “Extending Government Funding and Delivering Emergency Assistance Act.” House Appropriations Committee Chair Rosa DeLauro introduced the bill that reflects agreement among Senate and House Democrats yesterday afternoon and the House passed it last night. It would continue federal funding through December 3, provide $28.6 billion in disaster relief, and suspend the statutory
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