Thursday, December 7, 2017

Google Alert - tax

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tax
Daily update December 7, 2017
NEWS
Republicans in Congress are on the verge of fulfilling their long-time dream of eliminating the federal estate tax, and they could do it in a way that is even more generous to heirs than previous repeal efforts. Bills passed by the Senate and the House recently would reduce or scrap the taxes heirs now pay ...
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During the first presidential debate of the 2016 election, Hillary Clinton went after Donald Trump for refusing to release his tax returns, arguing that the scant documents that had been made public showed Trump did not pay any federal income tax, to which the real-estate mogul replied, "That makes me ...
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TWO REMARKABLE things stand out--for their absence--from the drawn-out, convoluted Republican tax-bill exercise. One is somewhat arcane but absolutely critical to effective tax policy (Ronald Reagan understood it); the other is astonishing, given all the GOP verbiage on the importance of investing ...
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The tax bill racing through Congress this month could transform the US economy, cutting taxes for wealthy investors and everyday workers alike, and — its backers hope — sparking economic growth nationwide for years to come. But as its details emerge, there's increasing concern it would do so at the ...
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If the corporate tax rate is lowered to the proposed 20 percent and an AMT remains, the concern is it will ultimately result in higher taxes for tech companies. "With many tech companies such as Broadcom, Apple, Microsoft, Cisco and Oracle among others significantly ramping up R&D this would be a ...
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The U.S. tax overhaul may severely limit investors' ability to minimize capital gains on stock -- driving up the taxes they'd owe if the Senate gets its way. That chamber's version of the bill mandates investors with taxable brokerage accounts sell shares they've owned the longest first, a method known as ...
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Capone's case was pretty straightforward: Capone never filed an income tax return and was subsequently convicted on federal income tax evasion charges. Case closed. But tax law - and criminal law - can be complicated. Enter Marinello v. United States. Marinello is the first criminal tax case to be ...
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Republicans are close to passing a tax bill nonpartisan analysts say would increase the deficit by at least $1 trillion over a decade. Trump recently called on Congress to move to cut welfare spending after the tax bill, and Senate Republicans have cited the need to reduce the national deficit while ...
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The measure takes away a federal tax deduction for paying state and local income taxes. If you live in a city and state with no income taxes, you're not affected. But you are affected if you live in a state that has them, like New York state, where Andrew Cuomo is the Democratic governor - who is on the ...
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Former Fed Chair Alan Greenspan said the Republican-sponsored tax overhaul plan will do "very little" for economic growth. Instead, he said in an interview with CNBC that Congress should focus on the deficit or risk inflation getting out of control. Greenspan cautioned in 1996 about "irrational ...
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Taxpayers are looking at boosting their giving this year to take advantage of current law governing charitable contributions. Gifting stock this year allows you take advantage of rules lets you choose which shares to donate, letting you avoid paying taxes on large capital gains. Experts say giving multiple ...
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"It's not just economic theory but economic history. … The bottom line is we will be able to fill any deficit hole with additional revenues. And we basically saw the same during the Reagan tax cut, frankly the Kennedy tax cut. You can even go back to the Coolidge tax cut. We will be able to raise more ...
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The United States' proposed tax reform is projected to boost corporate earnings — and most of those savings are likely to go into shareholders' pockets, said former U.S. Commerce Secretary Penny Pritzker. If the tax plan is passed, as many are expecting, the U.S. will see corporate taxes fall from ...
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The impending tax reform package is expected to lower rates across corporate America, but one company—Apple—will get a significantly bigger one-time tax cut than anyone else. According to economists consulted by the Financial Times (subscription required), the iPhone maker stands to see tax ...
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Programs such as Social Security, Medicare, Medicaid and the Children's Health Insurance Program comprise the bulk of the government's expenditures every year. The Joint Committee on Taxation estimates that after economic growth is taken into consideration, the GOP tax bill will add $1 trillion to the ...
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Because they're designed to cap popular deductions that benefit homeowners and limit the number of itemizers, the Republican tax bills are expected to put a dent in house prices around much of the United States. And, under the recently passed Senate version, nowhere seems to get it worse than the ...
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The Republican tax plan faces opposition from a majority of Americans. Over half disapprove of it – including four in 10 who disapprove strongly, and only one in five Americans expect their own taxes to go down. Though the plan finds support from Republicans who believe it will help the economy ...
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Sen. John Cornyn, the No. 2 Senate Republican, signaled Thursday that the GOP could tweak its treatment of popular tax deductions in its final tax bill. The separate bills passed by the House and Senate scrap most state and local deductions but leave up to $10,000 in property tax deductions in place.
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Yale economics professor Robert Shiller said he doesn't think home prices will fall if the limit on the amount of mortgage debt one can deduct is cut in half. However, Shiller said, he does think a cut to the property tax deduction could be "a substantial hit to people who are paying a lot of property taxes.
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LONDON, ENGLAND - OCTOBER 23: A visual representation of the digital Cryptocurrency, Bitcoin on October 23, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital ...
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Citigroup would take a $20 billion upfront hit from the Republican tax bill should it become law, the company's chief financial officer said during a presentation Wednesday. The bank would take a big hit from writing off deferred tax assets it has held on its books, roughly $16 billion to $17 billion, John ...
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The national debt, though huge, isn't a problem right now, which is why Republicans who claim to be budget hawks are willing to borrow another $1.5 trillion over the next decade to give tax cuts to most businesses and some households. But at some point, the United States will have to reduce annual ...
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Billionaire investor Howard Marks says that the Republican plan to cut the corporate tax rate will not trickle down "too much" to workers and customers. "I saw on TV the other day somebody who said it was going to be shared with the workers and the customers: Not in my expectation," said Marks during ...
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As we discussed early in the week, the policy execution pendulum for the Trump administration has swung over the past four months, from winless to potentially two big wins by the year end. As I've said, with a massive corporate tax cut coming and big incentives for companies to build, invest and bring ...
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One effect of Congressional Republicans' tax plan is to cut taxes on corporations. If corporations have to pay lower taxes, then they will have higher profits. The math on this is fairly straightforward. (Pretax profits minus taxes equals net income, is the math.) Higher profits are good. But the accounting ...
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"Changes to the tax code are nothing new," Jones said. "Since our founding in 1955, there have been 33 significant changes." He cautioned that the outcome of the tax legislation overhaul is difficult to predict, saying H&R Block is "monitoring these developments very closely." Then Jones' tone shifted, ...
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WEB
Tax Exemption Certifications for URI
Most vendors will allow Accounts Payable to decrease the invoice if tax was applied in these states. If a tax exempt form has yellow highlighting, please complete that portion and provide to vendor. If you have any questions regarding these exemptions, please contact our office. Tax Exemption is NOT ...
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Is Tax "Reform"
Proposed US tax overhaul, 3rd major change to US tax code over past 40yrs, will drive the Dollar, but not the way you would expect. Index plummeted 16% in 1986 after Reagan's reform. After George W. Bush cut taxes on dividends in 2003, the currency slid 15%. (via BBG) pic.twitter.com/hKcFrMCYaH.
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Citi Tumbles After CFO Warns Of $20 Billion Charge If Senate Tax Bill Passes
Citi stock tumbled after the bank CFO warned he see a $20 billion charge if the Senate tax bill passes.
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Council Tax change in circumstances
Information about what to do when your details change in regards to council tax.
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Seven Take-Aways From The Senate's Tax Cut and Jobs Act
The Senate's version of the Tax Cut and Jobs Act (TCJA) is a big, sprawling bill that makes hundreds of changes in the tax code. The Senate bill differs in some important respects from the House-passed version, but the basic framework of the two measures is the same: A roughly $1.5 trillion tax cut that ...
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Family Businesses Worry the Tax Overhaul Will Hurt Them
Family-owned businesses including grocery stores, craft shops, small manufacturers and others are worried tax legislation in Congress could leave them at a disadvantage to big corporations and other competitors.
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Important Notice: Wake County Transit Sales and Use Tax
This document serves as notice that effective April 1, 2017, Wake County by resolution levies an additional 0.50% local sales and use tax. The additional 0.50% local sales and use tax is for the benefit and purpose of the Research Triangle Regional Public Transportation Authority (dba GoTriangle) and ...
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tax calculators
We believe in listening to our customers and building solutions around their needs. Our newest innovation, the Venson Fleet Tax Guide makes use of the latest technology and is designed primarily for viewing on mobile devices. It can also be viewed on PCs using IE10 and other commonly used ...
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HOW THE TAX BILL COULD BACKFIRE ON THE ECONOMY
The tax bill pending before Congress has raised the hopes of many people, like myself, who favor sweeping tax reform. It includes imperfect but recognizable versions of several measures long advocated as steps toward greater tax efficiency and fairness. These include cuts in corporate tax rates, ...
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Republicans Reverse, May Allow State Income Tax Deduction
One day after a reverse in AMT, Republican lawmakers are now discussing a compromise on state and local tax deductions that would allow taxpayers to deduct state income tax, Bloomberg reports.
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Bicam agrees to 6% estate tax
THE bicameral conference committee reconciling tax reform legislation from the House and Senate has agreed on a 6% estate tax rate, among other provisions, according to Senate President Pro Tempore Ralph G. Recto. In a statement issued by Mr. Recto's office on Wednesday, "conferees to the ...
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Response To Comments: The Tax Bill Is Still Very Bad
There was some good pushback on yesterday's article on taxes. But sorry, I'm still right. Many people responded with generic low-tax anti-government positions. Fine. Let's say the government is definitely bad and taxes are definitely too high. The current tax bill is still not the right way to do tax cuts.
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The Dirty, Swampy Way a Shady Tax Provision Ended Up in the House Tax Bill
Last week, RedState's Ben Howe exposed how House tax bill writers proposed nixing the adoption tax credit to "save money" while at the same time going out of their way to preserve a tax loophole benefiting Bermudan insurance companies and clever hedge fund guys who have also used it to avoid ...
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Tax Reform and the End of Human Existence
The ground will open and darkness will blanket the skies. The earth will cease to orbit the sun. Life on this planet will end as we know it. It's going to be Armageddon. Or, well, no, it won't. Look, we always knew the defenders of the status quo would say and do anything to stop tax reform. They want to ...
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Cartoon: Schoolhouse Rock for the tax bill
McConnell just broke all those promises Susan Collins got in exchange for her tax vote · 345 181 · Joan McCarter · In protest, people begin social media mass-abandonment of John McCain · 85 40 · Walter Einenkel · Trump's Labor Department wants to let employers pocket workers' tips · 271 176.
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McConnell on Tax Bill-- WE (almost certainly) DID IT!
Senate Majority Leader Mitch McConnell (KY) joined radio host Hugh Hewitt on his program Wednesday morning and expressed determination to see the job through as regards putting the final details on the tax reform bill and getting it to the President's desk. Hugh Hewitt: Can you give me a guess, ...
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Massive Protests At House Of Representative Offices Over Tax Bill
People are being arrested for what, exactly? Petitioning their member of Congress?
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Tax increase likely for Northumberland County
SUNBURY – Big projects in Northumberland County are leading to a tax increase for 2018. The 2018 proposed budget set at over $91 million was approved by a 2-1 vote, leading to a $3.35 million increase, which includes $2.7 million, plus a 0.65 debt service. It's estimated average taxpayers will pay ...
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The GOP Gives America's Neediest Millionaires a Tax Break
Late on a Friday night, the Senate passes a GOP tax bill that could give giant cuts to the wealthy.
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10 Reasons Why the GOP Tax Plan is an Economic Death Blow
Governor Andrew M. Cuomo today outlined 10 key reasons, both resulting from and in addition to the unacceptable elimination of state and local tax deductibility, why the GOP tax plan will deliver an economic death blow to New York and the nation. Additionally, the Governor is calling on the New York ...
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Would Washingtonians Lose Under the Republican Tax Bill?
This scary article about the potential economic impact of the Trump tax bill in the New York Times yesterday. Nobody ever mentions DC in these articles, but the situation here with local taxes is very similar to New York and California (high SALTs and high housing costs) Do you think you could post so ...
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Individual Taxation
Capital gains on movable private property are exempt. Gains on movable and immovable business property are subject to income tax, except where the cantonal tax liability is based only on the ownership of immovable property. In such a case, capital gains realized on the disposal of immovable ...
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Rubio-Lee Child Credit Proposal Should Be in Final Tax Bill
During debate on the Senate tax bill, Senators Marco Rubio and Mike Lee offered an amendment to improve the bill's Child Tax Credit (CTC) for millions of low-income working families, paid for by cutting the corporate tax rate — currently 35 percent — to 20.9 percent rather than 20 percent.
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Side Gig: Tax Preparation
Side Gig: Tax Preparation on The Wealthy Accountant | A common request the last few months involves starting a tax preparation side gig. A seasonal tax prep…
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Funding 'Humanized Mice' Using Tissue From Aborted Babies
You probably don't know this, but your tax dollars have been used by the National Institutes of Health (NIH) to create "humanized mice" implanted with tissues taken from aborted babies. As CNS News reports, a scientist attending "The New Humanized Rodent Model Workshop" sponsored by NIH in ...
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AAS Action Alert: Stop the Graduate Student Tuition Tax
This week, ask your Senators and Representative to strongly oppose the repeal of the income exclusion for graduate tuition waivers in the final version of the tax reform bill. The House of Representatives passed H.R. 1: Tax Cuts and Jobs Act on 16 November, and the Senate passed an amended ...
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Meet the Members Negotiating the Tax Cuts and Jobs Act
On Monday, Speaker Ryan named the Republican lawmakers who will serve on the House-Senate conference committee for the Tax Cuts and Jobs Act. That means that this group of nine lawmakers will iron out the differences between the House and Senate versions of the bill, before reporting out a ...
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Count the ways: How GOP tax plans would reward rich families
Life may be about to get easier for people with rich parents. They can thank the Republicans' tax plans.
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Average Federal Tax Rates by Income Quintile
A number of friends on Facebook have been discussing whether the federal tax system is "progressive." That word has emotive content--"progressive" seems good--but all it means is that the higher your income, the higher your tax rate. One economist friend argued that bringing in the Social Security tax ...
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Republican disagreement on display during tax reform vote
House conservatives are pushing back and fighting for an extension until December 30th to keep the government running; Mike Emanuel explains on 'Special Report.'
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Sanford Says Tax Bill Is Being Misleadingly Sold
Rep. Mark Sanford (R-SC) told the Washington Post that Republicans are not accurately portraying their tax bill: It isn't a middle-class tax cut, it's a corporate one. Said Sanford: "Fundamentally the bill has been mislabeled. From a truth in advertising standpoint it would have been a lot simpler if we just ...
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The Republicans' Devious Tax Attack on the People
Have the Republican greed-hound toadies gone too far? How much are the American people going to take before they replace the reckless Republicans in the next election? Low and middle-income Americans are bracing for the likely passage of a Trump-supported tax bill that deviously redistributes ...
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Details Of Huge Error GOP Made In Their Senate Tax Bill Emerge Online
Senate Republicans appear to have made a $289 billion mistake in last minute additions to the tax bill they passed in the early morning hours of Saturday morning. Which, according to some experts, could result in a massive tax rise for corporations as opposed to the cuts that President Donald Trump ...
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Democrats Have Lost Their Minds in Criticism of Tax Reform
My print column today addresses the hyperbolic response Democrats have launched at tax reform legislation which has now passed the House and Senate and is in the process of being reconciled into a final bill for President Donald Trump's signature. "There is plenty of room for honest criticism of ...
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odoo10-addon-l10n-it-withholding-tax-payment 10.0.1.0.0.99.dev4
odoo10-addon-l10n-it-withholding-tax-payment 10.0.1.0.0.99.dev4. Download odoo10_addon_l10n_it_withholding_tax_payment-10.0.1.0.0.99.dev4-py2-none-any.whl. Italian Withholding Tax Payment ...
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