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Build Back Better Book Minimum Tax

TweetShareSharePin0 Shares The Build Back Better Act (BBBA) would raise taxes to pay for social spending programs. But the design of some of the tax increases may end up hurting private pensions, among other problems. By relying on measures of income reported on company financial statements, i.e., book income, the proposed corporate alternative minimum tax

Major Change to Offer in Compromise Policy

TweetShareSharePin0 Shares The only bad thing about the change in IRS policy in Offers in Compromise (OIC) is that it comes too late for me to change a forthcoming law review article on offset.  The inability to update the article which is headed to press matters little.  The new policy regarding offset in OICs represents

IRS commissioner: We’re hiring

TweetShareSharePin0 Shares Projected to lose 52,000 employees in the next six years, the IRS is seeking new personnel, Commissioner Charles Rettig told CPAs Tuesday. Rettig’s keynote address to the AICPA & CIMA National Tax Conference in Washington, D.C., touched on challenges the Service still faces in basic operations after he temporarily closed down most in-person

2022 Norway Budget Tax Proposals

TweetShareSharePin0 Shares Norway’s new center-left government that took power on October 14 has set out its 2022 budget proposals, amending the 2022 budget proposal announced last month by the outgoing conservative government. The new budget comes with several tax cuts and a handful of tax hikes. While the new proposal cuts indirect taxes by $270

Waiting For CBO’s Score… | Tax Policy Center

TweetShareSharePin0 Shares CBO promises a full score of Build Back Better by Friday. The Congressional Budget Office  said yesterday it plans to release a full cost estimate of the House Democrats’ Build Back Better Act by the end of the week by the end of this week. House moderates say they’ll vote for the big

Losses to OECD tax havens could vaccinate global population three times over, study reveals

TweetShareSharePin0 Shares Poorer countries hit hardest by global tax abuse at the hands of rich countries Countries are losing a total of $483 billion in tax a year to global tax abuse committed by multinational corporations and wealthy individuals – enough to fully vaccinate the global population against Covid-19 more than three times over.1 The

Republican Cannabis Bill Would Tax by Category: States Reform Act

TweetShareSharePin0 Shares Today, Representative Nancy Mace (R-SC) released the States Reform Act, which would deschedule, regulate, and tax cannabis products with a novel federal excise tax design—based on quantities and predefined categories, not dissimilar from how the federal government taxes alcohol and tobacco. Rep. Mace’s bill would impose a tax of 3 percent on the
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