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federal taxes Archive

Whose Child Is It Anyway? The Ways & Means Definition Makes It Harder for The IRS To Know

TweetShareSharePin0 Shares To paraphrase Tolstoy, all simple families are alike; each complicated family is complicated in its own way. So when the tax code aims to deliver benefits for kids, expect complexity. But the proposed monthly child tax credit (CTC) in the Ways and Means reconciliation bill reaches new heights. It would extend the expansions

Federal Judge Rules Against American Rescue Plan Tax Cuts Mandate

TweetShareSharePin0 Shares Kentucky and Tennessee won an important legal victory Friday when a federal court ruled that the American Rescue Plan Act (ARPA)’s restrictions on state fiscal autonomy were unconstitutional and enjoined (blocked) the enforcement of those provisions against both states. Specifically, Judge Gregory Van Tatenhove held that the ARPA provision, which limited states’ authority

Which Global Minimum Tax Will We Get?

TweetShareSharePin0 Shares Over the course of the last year, it has become clear that Democratic lawmakers want to change U.S. international tax rules. However, as proposals have surfaced in recent weeks, there are clear divides among various proposals. While President Biden has led a renewed effort on global negotiations over minimum taxation, his own proposals

There’s No Business Like Show Business!

TweetShareSharePin0 Shares Like no business I know: Speaker Pelosi outlines the intense week ahead. The House hopes to pass three major pieces of spending legislation this week: It must approve a  Continuing Resolution (which currently includes an increase in the debt limit) before the government shuts down on Oct 1. The House Democratic leadership also

Tax Records – What You Should Keep And For How Long

TweetShareSharePin0 SharesTax Records – What You Should Keep And For How Long Many taxpayers are confused about how long they should keep tax records. The term “tax records” refers to your tax returns and the documents that support the information in the returns. These documents can include receipts, bank statements, 1099s, etc. If you are

Businessman Charged with Streamlined Filing Tax Evasion 2021

TweetShareSharePin0 Shares Another Streamlined Filing Compliance Case Turns Criminal More Streamlined Filing Compliance Cases Turns Criminal Another Streamlined Filing Compliance Case Turns Criminal: At Golding & Golding, our Board-Certified Tax Law Specialist team specializes exclusively in offshore tax and account disclosures. We have represented thousands of Taxpayers across the globe with Streamlined Filing and other

Another Streamlined Filing Case Turns to Criminal Tax Evasion

TweetShareSharePin0 Shares Another Streamlined Filing Compliance Case Turns Criminal Another Streamlined Filing Compliance Case Turns Criminal Another Streamlined Filing Compliance Case Turns Criminal: At Golding & Golding, our Board-Certified Tax Law Specialist team specializes exclusively in offshore tax and account disclosures. We have represented thousands of Taxpayers across the globe with Streamlined Filing and other

Congress’s Fiscal Drama Isn’t What It Seems

TweetShareSharePin0 Shares Welcome to Fall. The season where, predicably, the weather gets cooler, the leaves change color, and Congress puts on its annual fiscal crisis. This year, we all get to watch a quadruple-header: Will Congress pass a $1 trillion—or perhaps $552 billion– infrastructure bill? Will Congress approve a massive social spending bill including major

Deal or No Deal? | Tax Policy Center

TweetShareSharePin0 Shares A Democratic framework on a tax plan? Not quite. Senate Majority Leader Chuck Schumer announced yesterday that the Senate, House, and White House have agreed to a  “framework” on how to pay for the $3.5 trillion spending package they hope to pass this fall under budget reconciliation. But few lawmakers had even seen
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