tax Archive

TweetShareSharePin0 Shares The Wisconsin Assembly and Senate this week are considering several tax reforms as part of the budget for the fiscal year (FY) 2022-23 biennium, which begins Thursday (July 1). Several were precipitated by the Wisconsin Legislative Fiscal Bureau’s (LFB) announcement earlier this month that the state is projected to end the current fiscal

TweetShareSharePin0 Shares In the second installment of this year’s IRS “Dirty Dozen” list, which highlights common tax-related scams, the IRS cautioned taxpayers to be on the lookout for deceptive schemes in the form of emails, text or social media messages, and phone calls (IR-2021-137). In what has become an annual ritual, the Service each year

TweetShareSharePin0 Shares With the recent launch of a campaign to get people who are not usually networked with the federal tax system to sign up for the Advanced Child Tax Credit (AdvCTC), the Administration, Congress, and advocates are focusing on what a permanent AdvCTC would look like.  Some child welfare and anti-poverty advocates are promoting the concept of

TweetShareSharePin0 Shares Key Findings Thirteen states have notable tax changes taking effect July 1, 2021. Indiana has the lone corporate income tax rate change, with the rate decreasing from 5.25 to 4.9 percent. Montana will begin using a corporate income tax apportionment formula with a double-weighted sales factor. Idaho will offer a one-time individual income

TweetShareSharePin0 Shares The U.S. Supreme Court on Monday denied a request by New Hampshire to file a bill of complaint against Massachusetts in a case involving Massachusetts’s taxation of remote workers during the COVID-19 pandemic. The Supreme Court’s order indicated that Justice Clarence Thomas and Justice Samuel Alito would have granted the motion. New Hampshire

TweetShareSharePin0 Shares Thieves stealing economic impact payments and unemployment benefit checks head the list of this year’s IRS “Dirty Dozen” of tax-related scams and schemes (IR-2021-135). The warning Monday about “pandemic-related scams” was the first of four installments this year in which the IRS highlights egregious tax-related crimes and misdeeds against which it is advising

TweetShareSharePin0 Shares Today the Supreme Court announced it will not resolve a key question of state taxation: Should income tax dollars support where you work or where you live? By declining to hear a dispute between two New England states, the court maintains the current rule of “it depends.” New Hampshire vs. Massachusetts involved Massachusetts’s