federal taxes Archive

TweetShareSharePin0 Shares Key Findings Cost recovery refers to how businesses deduct their investments over time. The Tax Cuts and Jobs Act of 2017 reintroduced 100 percent bonus depreciation for short-lived investments, such as machinery and equipment, allowing full cost recovery for qualifying investments. Bonus depreciation will begin phasing down at the beginning of 2023. In

TweetShareSharePin0 Shares Two more days to pass the spending bill. A coming blizzard may encourage Congress to pass the giant $1.7 trillion continuing resolution as early as Thursday. House Speaker Pelosi is urging  Democrats to support the “urgent and necessary”  bill, while a bloc of House Republicans is calling on their Senate colleagues to withhold

TweetShareSharePin0 Shares The House of Representatives Ways and Means Committee voted yesterday to publicly release Donald Trump’s tax records. Credit: Joe Raedle/Getty Images The news was confirmed by The Washington Post, who noted that the IRS failed to perform mandatory audits during the former President’s first two years in office, despite the fact that there

TweetShareSharePin0 Shares David O. Isagba has been sentenced to 14 years in federal prison for mail fraud and conspiracy to defraud the United States with respect to tax claims. Credit: Mikhail Pivikov (EyeEm)/Getty Images Isagba’s sentence was handed down by John Antoon II, Senior United States District Judge for the Middle District of Florida. The

TweetShareSharePin0 Shares The tax treatment of charitable giving over the past few years has been influenced by two major tax events: the 2017 Tax Cuts and Jobs Act (TCJA) and the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act. These changes provide a case study of how changes in tax policy can influence taxpayer

TweetShareSharePin0 Shares The spending bill congressional leaders agreed to early this morning creates significant new incentives for retirement savings and broadly eases rules for withdrawing funds. Like earlier versions, the measure would both help low- and moderate-income workers save for retirement and create yet another tax windfall for high-income savers. The measure, called SECURE 2.0,

TweetShareSharePin0 Shares A deal on spending without much tax. Early this morning, congressional leaders agreed on a $1.7 trillion spending bill to keep the government funded through Sept. 30. The bill includes a package of retirement savings tax incentives and curbs on conservation easements. But it leaves out efforts to increase the Child Tax Credit