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Federal Tax Updates Archive

Benefiting Substantially From Your IRA Early

TweetShareSharePin0 SharesBenefiting Substantially From Your IRA Early If you own an Individual Retirement Account (IRA), the primary purpose is to accumulate assets to provide an income source during retirement. In the accumulation phase, you may contribute to an IRA on a tax deductible basis (with some exceptions) with the earnings growing tax deferred. Upon withdrawal,

Cases Under Attorney Services Strategy Tax

TweetShareSharePin0 SharesCases Under Attorney Services Strategy Tax Tax help like Tax Fraud Defense, Installment Agreements, Penalty Abatement, Tax Refunds, Back Tax Help, Individual, Partnership & Corporate Tax Issues, Classification Issues Payroll Tax, Employee/Subcontractor Determinations, and Lien, Levy and Garnishment appeals and removal as well as IRS concerns like IRS Appeals & Protests, IRS offer in

Higher Oil Prices Can Help Fuel Green Transition

TweetShareSharePin0 Shares Democratic leaders have pledged to combat higher petroleum prices due to Russia’s invasion of the Ukraine. Shying away from a Russian oil boycott, they have proposed a federal gas tax holiday to cushion US motorists from rising pump prices. But that policy would do little to benefit consumers while worsening fiscal imbalances, air

Global Minimum Tax & Build Back Better Revenue

TweetShareSharePin0 Shares The global minimum tax has upended many conversations about international tax policy, including in the United States. The goal of the policy is to set a worldwide 15 percent minimum effective tax rate on corporate profits and enforce it through a set of interconnected rules. If enough countries adopt those rules, then even

Reframing Biden’s Tax Plan And More State Tax Cuts

TweetShareSharePin0 Shares Biden: Tax cuts to help families and reduce the deficit. In tonight’s State of the Union Address, President Biden will reframe his tax proposals as a way to assist working families and reduce the deficit. “The President will call on Congress to send him a bill that lowers costs and lowers the deficit

How Does Your State Rank on Corporate Taxes?

TweetShareSharePin0 Shares In the coming weeks, we will break down our 2022 State Business Tax Climate Index, released in December, with maps illustrating each of the five major components of the Index: corporate taxes, individual income taxes, sales and excise taxes, property and wealth taxes, and unemployment insurance taxes. Today we look at states’ rankings on the corporate tax component,

Start your future by investing in US Savings Bonds

TweetShareSharePin0 SharesStart your future by investing in US Savings Bonds Do you feel like you have so many things you need to buy yet you’re not sure how to get the cash for it? Are you starting a family or have kids who are on their way to college? Do you have big plans and

Make A Car Donation To your Local Church

TweetShareSharePin0 SharesMake A Car Donation To your Local Church As long as your local church organization is an IRS recognized non-profit organization, there is no problem making a car donation and getting a tax benefit at the same time. Chances are you have probably heard that your local church needs to raise fund for a

Formulary Apportionment and the OECD Tax Deal

TweetShareSharePin0 Shares One of the greatest challenges of lawmaking is recognizing when a beautiful theory must succumb to an ugly fact. The purity of conceptual policymaking must take the real world into account and acknowledge that things that work well “in theory” sometimes fail spectacularly to meet expectations “in practice.” It would be wonderful if

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