tax Archive

TweetShareSharePin0 Shares The Kansas legislature will reconvene next week for its 2021 veto session, when legislators will reconsider bills that were vetoed by the governor. One such bill that has a second chance of being enacted, Senate Bill 50, would enhance Kansas’ economic competitiveness by improving the state’s corporate, individual, and sales tax structure while

TweetShareSharePin0 Shares Months ago, I heard an interview with the NYU Professor Scott Galloway about what the world may look like post-Covid. One of the main takeaways was to think of the pandemic not as a “change agent,” but rather as “accelerant” of trends that were already underway. I’d say this holds true with the

TweetShareSharePin0 Shares President Biden’s American Families Plan would make two big changes in the tax treatment of investment income such as long-term capital gains and dividends. Some critics say the change will raise little revenue because sophisticated wealthy investors will find ways to avoid the new tax. But while many wealthy investors may dodge the

TweetShareSharePin0 Shares As part of President Joe Biden’s American Families Plan (AFP), the White House yesterday proposed two major tax increases on accumulated wealth, adding to a 61 percent tax on the wealth of high-earning taxpayers. First, the American Families Plan would tax unrealized capital gains at death for unrealized capital gains worth over $1 million.

TweetShareSharePin0 Shares In today’s post Bob Probasco concludes his three-part series on General Mills and the intersection of TEFRA and “hot interest.” Part One can be found here. Part Two, here. Christine In Part 1, I described the decision by the Court of the Appeals for the Federal Circuit in General Mills, Inc. v. United

TweetShareSharePin0 Shares President Biden released details of his $1.8 trillion American Families Plan. First, the tax cuts: Biden’s American Families Plan would extend the American Rescue Plan’s expanded health insurance premium tax credits; extend the ARP’s more generous Child Tax Credits through 2025 and make the CTC permanently fully refundable; permanently increase tax credits for child

TweetShareSharePin0 Shares IRS Commissioner Charles Rettig told the Senate Finance Committee on April 13 that the agency could begin delivering monthly 2021 Child Tax Credit (CTC) payments starting in July. Rettig was responding to provisions of the American Rescue Plan (ARP) that increased the CTC and directed the IRS to deliver half of a family’s