Saturday, November 18, 2017

Google Alert - tax

Google
tax
Daily update November 18, 2017
NEWS
Congressional tax overhaul could hurt home prices in high-tax states and create looming credit risk for local governments. S&P Global Ratings said ...
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New estimates show that the mandate's repeal would give low-income Americans a big tax increase. But Republicans say that's not true. And they ...
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As the $1.5 trillion tax cut sailed through the House on Thursday along party lines, the Senate Finance Committee was beset by sharp exchanges between Republicans and Democrats, who spent an arduous day trying — and failing — to change a bill they said would favor corporations and the rich over ...
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If we had been talking about state and local taxes, I would have also mentioned revenue stability — how much revenue falls in a recession and rises in a boom. But for federal taxes, I assume the government can borrow if its revenue declines temporarily. So for federal taxation, I focus on fairness and ...
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Republicans and Democrats offer wildly different interpretations of what the latest version of the Senate tax bill would do for the middle class and other ...
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In business, lawyer's fees and legal settlements are usually tax deductible. In fact, even punitive damages are tax deductible, no matter how bad the conduct. In general, only fines and penalties paid to the government are not. Even some of those can be, where the fines have a remedial rather than ...
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Looking at the reactions to Republican tax plans, I found myself remembering what people used to say about former Senator Phil Gramm, whose ...
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The connection between tax cuts and trade deficits is not controversial. The mechanics are straightforward: Republicans are proposing to reduce ...
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Congressional Republicans took important steps on Thursday toward the biggest U.S. tax-code overhaul since the 1980s, with the House of Representatives approving a broad package of tax cuts. The debate shifts to the Senate, where a bill has already encountered resistance within the Republican ...
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The most important tax reform metric for liberals and Democrats, besides perhaps the total level of federal taxation, is the progressivity of the tax code.
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(CNN) Did you know there's hip-hop in Saudi Arabia? Meet rapper Qusai Kheder. Here's what else you need to know to Get Up to Speed and Out the Door. (You can also get "5 Things You Need to Know Today" delivered to your inbox daily. Sign up here.) ...
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The House of Representatives passed its tax bill Thursday, making way for a sweeping $1.5 trillion tax cut. The showdown on taxes now heads to the Senate, which is set to vote on its bill the week after Thanksgiving. The biggest impact of both plans is that America's big corporations and wealthy would ...
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If the spate of recent national tragedies has tugged at your heartstrings and encouraged you to donate to a charitable crowdfunding campaign, beware: you're entering dicey legal territory. That's because, in some cases, you may be required to file a gift-tax return, even if your donation was small in size, ...
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People moved to generosity by the season, or looking ahead to tax-filing time, stand ready to write checks, and nonprofits are preparing year-end appeals. Meanwhile, the Senate and House have presented tax overhaul plans that substantially raise the standard deduction, a move that would reduce the ...
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"Maybe it's just symbolic to say we addressed carried interest," said Robert Willens, a tax and accounting expert in New York. "Everyone has looked at that proposal for about a week, and it is not going to impede or change anyone's behavior. Three years is not an unusual holding period for private equity ...
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It took the city of Pataskala, Ohio, nine ballot measures before its 15,000 residents agreed to a new 1 percent tax to pay for repairs to its crumbling roads and to buy new police cruisers. The mostly rural community was finally won over by a century-old hallmark of the tax code: The $5 million local levy ...
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Students were previously entitled to a modest $2,000 tax credit to offset the cost of tuition, and stripping the deduction could affect roughly 145,000 graduate students and 27,000 undergraduates nationwide. The cut could therefore have a devastating impact on graduate students already struggling with ...
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WEB
Tax Center
The West Point Tax Center offers FREE tax preparation services to eligible Soldiers stationed at West Point, Cadets and dependents. The Tax Center ...
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Tax Proposals Most Likely to Pass in Washington
Lawmakers in the House and Senate have separate tax-overhaul bills with a multitude of differences, but the similarities between them are a good indicator of what will actually pass.
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Individuals, Estate, and Fiduciary Forms
The 2016 Income Tax Return Booklet is no longer available online. Many parts of the booklet, such as due dates and contact information, are in the instructions for Form IN-111, which can be found in the table below. The complete Booklet may be ordered online.
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Deductions for Business Tax
State - Special Tax, environmental fee, $.004 per gallon. Federal - Kerosene Tax, $.244 per gallon. Federal - Liquefied Gas for Motor Vehicles ...
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JONES: "I'M ALL FOR TAX REFORM, BUT WE CAN'T DO IT BY ADDING TRILLIONS TO THE ...
"I'm all for tax reform, but it must grow the economy, not the debt. Unfortunately, the tax bill voted on today would be financed not by cutting spending ...
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JCT Estimates: Amended Senate Tax Bill Skewed to Top, Hurts Many Low
The amended tax bill that Senate Finance Committee Chairman Hatch released on November 14 is even more skewed to the wealthy than the bill he ...
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Tax Credit FAQ
Q1. Can I use my credit card to make a contribution? Q2. What is a tax credit? Q3. Is it a tax deduction? Q4. Who is eligible? Q5. Do I have to itemize?
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House Bill Means Tax Hike for Some Seniors
House Republicans approved a $1.5 trillion tax overhaul package that would negatively impact older Americans and eliminate the medical expense ...
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Share Your Thoughts on The Tax Reform Proposal
By participating in this survey, you'll be automatically subscribed to receive email updates on this topic. You may unsubscribe at any time and your ...
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The House Ways and Means Tax Bill Would Raise the National Debt to 123 percent of GDP by 2037
The Tax Policy Center estimates that the House Ways and Means Committee's version of the Tax Cut and Jobs Act (TCJA) would increase the ratio...
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The House's Tax Bill Levies a Tax On Graduate Student Tuition Waivers
Camel Pilot writes: The new GOP tax plan -- which just passed the House -- will tax tuition waivers as income. Graduate students working as research assistants on meager stipends would have to declare tuition waivers as income on the order of $80000 income. This will force many graduate students o.
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Distributional Effects of Changes in Spending Under the Tax Cuts and Jobs Act as of November 15 ...
CBO has analyzed the distributional effects of changes in spending under the Tax Cuts and Jobs Act as of November 15, 2017, related to eliminating ...
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In Praise of a Corporate Tax Cut
Bloomberg View columnist Tyler Cowen, a professor of economics at George Mason University and Marginal Revolution blogger says "Republicans have science on their side when it comes to corporate tax reduction." Is Cowen right? If so why?
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How Tax Reform Can Still Blow Up: A Side-By-Side Comparison Of The House And Senate Tax ...
We present a side by side comparison of the House and Senate plans: the two chambers will need to form a conference committee to hash out the differences, and there are three major friction points which could potentially still blow up tax reform.
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The Republican Tax Plan Is Very Swampy
Unsurprisingly, the Republican tax plan moving forward in the U.S. Congress and championed by Donald "Drain the Swamp" Trump, is very swampy...
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THE TAX CUTS AND JOBS ACT
The Tax Cuts and Jobs Act is designed to get our economy growing and increase take home pay for hardworking families. It will do just that. The status ...
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Orrin Hatch Spits Fire at Sherrod Brown Over Tax Reform
The explosive exchange occurred during the fourth day of a mark-up on The Tax Cuts and Jobs Act (TCJA), which was slightly altered by Hatch to ...
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Tax Cut & Jobs Act Tax Reform Calculator
Learn how your taxes may be effected by the recent Tax Cut & Jobs Act proposals with TaxAct's free Tax Reform Calculator.
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Why Young Entrepreneurs Desperately Need Tax Reform
The IRS requires anyone making more than 400 bucks a year from self-employment to report that income on their tax return. That means if you sell ...
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The gains from cutting corporate tax rates
Here is a recent paper by Stephen Bond and Jing Xing: We present new empirical evidence that sector-level capital–output ratios are strongly influenced by corporate tax incentives, as summarised by the tax component of a standard user cost of capital […]
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Why This House Tax Scheme Is for IDIOTS
The House tax bill is an all-out attack on the future prosperity of America, not that any of the major news organizations are telling you that in plain English. Lost in the dense bureaucratic language of modern news reports is the simple fact that the House bill takes from striving students so that the already ...
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