tax Archive
How to stop #LuxLetters and the abuse of tax rulings
July 1, 2021
No Comments
TweetShareSharePin0 Shares Written by Leyla Ates, Andres Knobel, and Markus Meinzer. One of the most powerful tactics a multinational corporation can use to abuse tax is to secure a tax ruling in one country that gives the corporation written permission to exercise an abusive interpretation of the country’s tax law in a way that ultimately
Michigan Corporate Income Tax Proposal Would Improve Competitiveness
July 1, 2021
No Comments
TweetShareSharePin0 Shares Michigan lawmakers are considering lowering the corporate income tax rate to alleviate the tax burden on businesses still emerging from the pandemic and to make the state more competitive. Senate Bill 392 would retroactively reduce the state’s corporate income tax rate from 6 percent to 5.5 in tax year 2021, and then lower
State & Local Tax Structure Has a Critical Impact
July 1, 2021
No Comments
TweetShareSharePin0 Shares While high top tax rates may provide “sticker shock” for corporations looking for a state to call home, they are just one of several important drivers of businesses’ tax burdens and tax compliance costs. The tax base, and more broadly, the structure of the tax code, play a large role in business taxes
Bank information can now be updated on child tax credit portal
July 1, 2021
No Comments
TweetShareSharePin0 Shares The IRS on Wednesday added a new feature to its Child Tax Credit Update Portal to allow individuals to update their bank account information in order to receive monthly advance child tax credit payments (IR-2021-143). The IRS says any updates made by Aug. 2 will be reflected in the scheduled Aug. 13 payment
Proposals to Fix Upcoming Federal Tax Changes
July 1, 2021
No Comments
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
jul
July 1, 2021
No Comments
TweetShareSharePin0 Shares jul Source link TweetShareSharePin0 Shares
The Family and Worker Benefit Unit
July 1, 2021
No Comments
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
Protected: #LuxLetters and the abuse of tax rulings
July 1, 2021
No Comments
TweetShareSharePin0 Shares This content is password protected. To view it please enter your password below: Password: Source link TweetShareSharePin0 Shares
Proposed bill to regulate tax preparers has AICPA support
June 30, 2021
No Comments
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
June 30, 2021
No Comments
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
