Federal Tax Updates Archive

Wyden Mark-to-Market Bill | Wyden Financial Services Tax Proposals

TweetShareSharePin0 Shares Sen. Ron Wyden (D-OR) has introduced a series of proposals that may be considered in the budget reconciliation process, including two bills that would change the tax treatment of financial services: derivatives and carried interest. Notably, both proposals would enact “mark-to-market” taxation for derivatives and carried interest, which could be a precursor to

Will The Wealthy Pay Higher Taxes Sooner, Or Later… Or Never?

TweetShareSharePin0 Shares It’s increasingly unclear. The Wall Street Journal reports (paywall) that congressional Democrats may not have the votes to pass some of President Biden’s more ambitious efforts to rewrite the 2017 Tax Cuts and Jobs Act or otherwise raise taxes on the corporations and the wealthy. These include raising taxes on multinational corporations and

Comments on the Wyden, Brown, Warner International Tax Overhaul Draft

TweetShareSharePin0 Shares Introduction Tax Foundation welcomes the opportunity to offer comments on the Wyden, Warner, Brown discussion draft on international taxation. Tax Foundation is a nonprofit think tank based in Washington, D.C., and our mission is to improve lives through tax policies that lead to greater economic growth and opportunity. We use the four principles

IRS Enforced Collection

TweetShareSharePin0 SharesIRS Enforced Collection IRS Enforced Collection- now there is a term that will get your attention. I get certified mail from IRS every day on behalf of clients. Even though I have no tax problems myself, every day I catch myself flipping through that ugly stack just to make sure my name isn’t there.When

The IRS vs Mother Nature

TweetShareSharePin0 SharesThe IRS vs Mother Nature The IRS recently met its match in the form of Mother Nature. Yes, the massive flooding in Washington, D.C., took out the IRS headquarters. The IRS vs Mother Nature As you know, Washington, D.C. suffered through some serious flooding problems recently. The headquarters of the IRS are located at

How To Plan For Your Future

TweetShareSharePin0 SharesHow To Plan For Your Future Whether you are saving for retirement, a dream home, your child’s college education or other life changing event, it’s important that you plan for it accordingly. This means saving money so that you will have the things that you need, while hopefully being able to enjoy some of

Tax Refund Email Scam – IRS Warning

TweetShareSharePin0 SharesTax Refund Email Scam – IRS Warning The IRS has issued a warning regarding a phishing email scam. The scam claims you are due a tax refund, but is really designed to obtain your personal information. Tax Refund Email Scam Phishing scams are designed to swindle you into providing private information that can be

IRS Helps Employers By Reducing Filings Required For Employees

TweetShareSharePin0 SharesIRS Helps Employers By Reducing Filings Required For Employees If you own a business and have employees, you have an inherent feel for the joy of filing employee related tax documents. Alas, the IRS is cutting back on the burden. IRS Helps Employers By Reducing Filings Required For Employees Employees are critical to any

Investing for Retirement

TweetShareSharePin0 SharesInvesting for Retirement Retirement may be a long way off for you – or it might be right around the corner. No matter how near or far it is, you’ve absolutely got to start saving for it now. However, saving for retirement isn’t what it used to be with the increase in cost of

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