Treasury Department Archive

Unique Tips to Find a Competent Local Tax Preparer

TweetShareSharePin0 Shares On November 13th, 1789, Benjamin Franklin wrote a letter to Jean-Baptiste Leroy, in which he said, “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” The notion of death and taxes being the only

Apple Settles Lawsuit Against Chicago For “Netflix Tax”

TweetShareSharePin0 Shares Iconic tech company, Apple, has settled its lawsuit against the city of Chicago regarding the local government’s “Netflix tax.” Apple, founded by Steve Jobs and Steve Wozniack on April 1, 1976, has become famous for its wide array of sleek, user-friendly tech products.  The business was put on the map with Macintosh computers

Sometimes, Taxes Are Okay | Tax Policy Center

TweetShareSharePin0 Shares Corporations are willing to pay a tax penalty for high executive compensation. The Wall Street Journal found (paywall) big corporations seem willing to pay a tax price to keep highly compensated executives happy. It found that 36 companies in the S&P 500 paid a combined $2.1 billion in taxes on nondeductible compensation over

4 Must-Read Tips For Reducing Retirement Taxes

TweetShareSharePin0 Shares Whether you’re a current retiree or you’re approaching retirement age, retirement taxes are probably on your mind. Taxes can be complex at any stage of life, but retirement planning often doesn’t include tax preparation, which can make seniors feel overwhelmed when they file their returns with the IRS and the state.  Here, you

The IRS Pledges to Improve American Taxpayer Experience

TweetShareSharePin0 Shares The Internal Revenue Service (IRS) has pledged to improve taxpayer administration and taxpayer services in the United States in a new 5-year plan. The government agency’s existing processes are infamously clunky, so this is good news for tax filers nationwide. In an official release, the IRS shared details about its goal to help

Chips Bill: Semiconductor Computer Chip Subsidies?

TweetShareSharePin0 Shares The Senate has begun debate on the so-called Chips bill, which would provide $52 billion in grants and $24 billion in tax credits to supposedly strengthen the production of semiconductors in the U.S. If this measure passes, U.S. semiconductors will join wool, mohair, helium, soybeans, ethanol, steel, credit unions, and Amtrak as industries

Chips Ahoy And Revenue Roller Coasters…

TweetShareSharePin0 Shares Senate closes in on a “chips-plus” bill. The Senate may agree today to vote on a semiconductor manufacturing grants and tax incentives bill. It now includes a multi-year 25 percent investment tax credit for semiconductor plants estimated to cost $24 billion annually. But it does not restore immediate expensing of research and development costs.

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