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Proposals to Fix Upcoming Federal Tax Changes

TweetShareSharePin0 Shares Three upcoming tax law changes scheduled by the 2017 Tax Cuts and Jobs Act (TCJA) to help offset its revenue losses would be canceled by proposed legislation that would prevent the tax treatment of investment from worsening over the coming years. Three Upcoming Tax Increases on Investment Policy Timing Requirement to amortize R&D

The Family and Worker Benefit Unit

TweetShareSharePin0 Shares In my last two blogs here and here, I have tried to think through how to reconcile challenging and sometimes competing policy and administrative considerations in order to pay the Child Tax Credit in advance throughout the tax year on a monthly basis.  In this blog post I turn to the broader issue

Proposed bill to regulate tax preparers has AICPA support

TweetShareSharePin0 Shares News Practice & Procedures By Dave Strausfeld, J.D. The AICPA signaled strong support for a bill introduced in Congress last week that would authorize Treasury to regulate paid tax return preparers and mandate minimum competency standards. The proposed legislation has bipartisan backing and is sponsored by Reps. Jimmy Panetta, D-Calif., and Tom

Fake charities, ‘ghost’ preparers, and other ploys

TweetShareSharePin0 Shares In a third batch of “Dirty Dozen” cautions about common tax-related scams, the IRS on Wednesday warned taxpayers about bogus charity appeals and frauds upon seniors and immigrants (IR-2021-141). The IRS also called attention to unscrupulous individuals who purport to serve taxpayers with “pennies on the dollar” settlements of their tax debts and

Thinking Out Loud About the Advanced CTC – Part 2

TweetShareSharePin0 Shares In my last blog post, I identified some of the challenges that arise when the Child Tax Credit is converted from an annual pay-out to a monthly pay-out. In this blog post, I will explore some alternative approaches that may address, if not resolve, those challenges. I have to confess that I am muddling through

Navigating the Reconciliation Bill | Tax Policy Center

TweetShareSharePin0 Shares A Democratic-only social spending bill gains Manchin’s support. West Virginia Senator Joe Manchin told MSNBC that he’s always assumed Democrats would need to use reconciliation to pass a second, larger bill aimed at supporting families. He says he’d support such a Democratic-only social spending measure, but says it shouldn’t be linked to a
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