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Federal Tax Updates Archive

Wisconsin Gov. Proposes $600 Million Tax Cut, Criticized For “Vote-Buying Ploy”

TweetShareSharePin0 Shares Wisconsin Governor Tony Evers has proposed a massive $600 million tax cut initiative but is facing criticism that it is a “tax gimmick” and “vote-buying ploy.”  Yesterday, during an appearance at the Malaika Early Learning Center in Milwaukee, Evers announced his new proposal, which would utilize the state’s surplus to provide Wisconsin residents

Former Community Leader Sentenced to Federal Prison, Embezzled $211,000

TweetShareSharePin0 Shares A former community leader and drug prevention coalition director has been sentenced to federal prison after embezzling $211,000. The IRS-Criminal Investigation division is responsible for the capture of Gainesboro, Tennessee resident, Patrick Martin. Martin will serve 15 months in prison for embezzlement and other charges.  According to an official release from the Internal Revenue

The Weekly (Tax)Buzz – August 24th, 2022

TweetShareSharePin0 Shares The Weekly (Tax)Buzz – August 24th, 2022 If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from

Tax Compliance Costs of IRS Regulations: Details & Analysis

TweetShareSharePin0 Shares In a pattern that has become all too common in recent decades, the newly enacted Inflation Reduction Act (IRA) added yet another layer of tax complexity to an already complex and burdensome federal tax code. While the Inflation Reduction Act increased the Internal Revenue Service (IRS) budget by roughly $80 billion over 10

Wyden Excess Profits Tax Proposal

TweetShareSharePin0 Shares In response to high oil prices, Sen. Ron Wyden (D-OR) has proposed raising taxes on oil and gas companies in three ways. His “Taxing Big Oil Profiteers Act” would create an additional 21 percent tax on so-called excess profits earned over 10 percent of revenues of oil companies with annual revenues over $1

Patent Box Regimes in Europe, 2022

TweetShareSharePin0 Shares Patent box regimes (also referred to as intellectual property, or IP, regimes) provide lower effective tax rates on income derived from IP. Most commonly, eligible types of IP are patents and software copyrights. Depending on the patent box regime, income derived from IP can include royalties, licensing fees, gains on the sale of

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