Thursday, January 11, 2018

Google Alert - tax

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tax
Daily update January 11, 2018
NEWS
And eligibility for the Child Tax Credit has been expanded. But the IRS has already said it's not issuing new W-4 forms that reflect those changes. The withholding tables and guidance it puts out will be designed to work with existing W-4s that employees have already filed, the agency said. That may lead ...
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My grandmother Big Mama hated being late. She paid her bills well in advance of the due dates. She left for appointments super early. "If you're on time, you're late," Big Mama would say. So for you on-time folks, take note, the IRS says the official start of the 2018 tax season is Jan. 29. But if you're a ...
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The company said the changes are a way to allow workers to "share in tax savings." The new GOP tax law, which President Trump signed late last year, includes deep cuts in corporate tax rates. "We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers ...
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Sweeping tax legislation was signed into law by President Trump at the end of 2017, and experts said some of the changes, including a lower threshold on the mortgage interest deduction, a cap on the state and local deduction and a higher standard deduction, could be a drag on home appreciation.
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US President Donald Trump, flanked by Vice President Mike Pence (L), speaks about the passage of tax reform legislation on the South Lawn of the ... The principles on which it is based --- the elimination of tax breaks and the application of resulting revenue flows to reduce statutory rates --- go back to ...
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The balloons have dropped, the signing ceremony is over and the dust is beginning to settle on the tax reform bill signed into law. For small and medium business owners there is good news, some not great news -- and certainly important tax planning opportunities that they should consider to keep more ...
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The GOP tax bill signed by Trump late last year fundamentally altered many aspects of the tax code, sending accountants scrambling, and stands as the biggest change to the tax system since 1986. Despite long-standing calls to address the federal debt, the tax cuts outlined in the bill came out to be ...
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In the wake of the new tax law, we've heard a lot about how richer, generally high-tax and often Democratic-leaning states are going to take a hit. The federal government expects to raise some $600 billion, largely from those states, by limiting the state and local tax deduction. Now there's talk at the state ...
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A majority of the Davis City Council on Tuesday expressed support for placing two taxes on the June ballot: a renewal of and increase in the existing parks parcel tax (from $49 to about $100) and a 2-percent utility users tax. Combined, the two taxes would raise enough to cover about half of the city's ...
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"You will start seeing more money in your paycheck — a 1 percent to 3 percent reduction in tax rates overall under the new law," said Lisa Greene-Lewis, a certified public accountant at TurboTax. Now for the bad news: The IRS hasn't yet released its new withholding tables — which, along with your ...
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The EU could adopt a tax on plastic packaging to reduce waste and to plug the gap in its budget left by Brexit. The European Commission - the EU executive - will consider whether the tax should be levied when the packaging is produced, used or disposed of, the budget commissioner says. It will also ...
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The Trump administration is pushing American businesses to withhold fewer taxes from paychecks by February, aiming to quickly deliver the boost in take-home pay that Republicans promised their tax law would bring. But the rush could expose millions of workers to the risk of underpaying taxes to the ...
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Several of the most respected and influential investors in the world are growing more optimistic on equities due to the tax reform bill. The Republican tax overhaul, which President Donald Trump signed into law last month, lowered the corporate tax rate to 21 percent from 35 percent. Politics are now ...
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President Donald Trump repeated an earlier call for an internet tax, in a thinly veiled shot at Amazon's Jeff Bezos, who owns The Washington Post. "The internet — they're going to have to start paying sales tax because it's very unfair what's happening to our retailers all over the country that are put out of ...
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Watertown City Manager Sharon Addison is issuing a warning to city lawmakers: Taxpayers could be asked to pony up a little more in 2018. "When you get to the budget, it's the only source of revenue increase that you have control of," said Watertown Mayor Joseph Butler. The largest issue right now is ...
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The Republican tax law has created massive new obligations for an Internal Revenue Service already struggling "to perform the basic tasks of administering the tax system" because of recent budget cuts, according to an internal agency report released Wednesday. The national taxpayer advocate, an ...
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When El Paso County asked voters in 2012 to impose a .23 percent sales tax to fund the Sheriff's Office, the ballot question said the new tax would raise ... TABOR states that if a tax increase generates revenue that exceeds an estimate contained in the election notice ballot measure, the tax rate must be ...
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LOUISVILLE — Union mechanics at UPS have turned to Sen. Mitch McConnell to ratchet up pressure amid contract talks, citing assurances from lawmakers and the shipping giant that tax reform would lead to boosted paychecks for workers — when they've gone four years without a salary increase.
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A complex proposal to help Californians evade a provision in President Trump's federal tax plan faces key questions even as its author is working toward the bill's speedy passage: How much would the plan ease Californians' new tax burdens, and would the Trump administration let it happen?
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South Korea's largest cryptocurrency exchanges were raided by police and tax agencies this week for alleged tax evasion, people familiar with the investigation said Thursday. "A few officials from the National Tax Service raided our office this week," an official at Coinone, a major cryptocurrency ...
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Such announcements , coming from dozens of companies, have followed the passage of the Republican tax plan that President Donald Trump signed into law last month. The plan slashed the corporate tax rate from 35 percent to 21 percent. The companies say the bonuses they've announced are a ...
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"The historic tax cut I signed into law… is already delivering major economic gains," the president boasted, ticking off a series of announcements from big business about one-time bonuses, 401(k) contributions, workforce and infrastructure investments, and even higher wages. "I want to thank all of the ...
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An obscure provision in the tax code could force the foundation started by Paul Newman to sell the food company Newman's Own. The foundation is trying to coax lawmakers to shield Newman's Own from an onerous tax bill that could force divestment. Executives are hoping Congress will put a ...
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ALBANY — When New York legalized daily fantasy sports in 2016, state officials boasted of the jobs and tax revenues that would be created. One legislative memo described "abundant" tax money that would flow into a state fund that helps pay for the state's more than $25 billion education tab each year ...
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During the three years that the government collected a tax on sales of medical devices, Maple Grove's Inspire Medical Systems never turned a profit on its sleep apnea treatments. CEO Tim Herbert says the company could have had 12 to 15 more employees if that tax money, which helped pay for the ...
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UTICA — There still is a long winter left to go in the city of Utica's 2017-18 fiscal year, but issues such as increased health insurance and roadwork costs have officials thinking conservatively about any returns and envisioning the need for a property tax levy increase in the coming year. "In this budget that ...
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Yomi John of Postal and Tax Services on Veterans Memorial will spend the next year behind bars for inflating income tax returns. Court records say, "John included materially false income, expenses, deductions, and credits in these tax returns in order to generate at least $214,413 in excess refunds.".
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Washington Gov. Jay Inslee (D) used his State of the State address Tuesday to propose a new tax on carbon emissions, which would make his state the first to levy taxes on commercial and industrial polluters. Inslee's plan would tax oil and gas emissions, and emissions by power plants, at a rate of $20 ...
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Legalizing marijuana nationwide would create at least $132 billion in tax revenue and more than a million new jobs across the United States in the next decade, according to a new study. New Frontier Data, a data analytics firm focused on the cannabis industry, forecasts that if legalized on the federal ...
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30, may be able to lop more than $4 billion off a future tax bill, according to Stephen Shay, a tax and business law professor at Harvard Law School who wrote about what he called the "potential loophole" last month. He characterized the boon as a side effect of the speed with which congressional ...
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PER_Maney_02_896246548 U.S. House Speaker Paul Ryan, a Republican from Wisconsin, center, speaks during a tax bill passage event with U.S. President Donald Trump, not pictured, and Republican congressional members of the House and Senate on the South Lawn of the White House in ...
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President Trump privately suggested massively increasing the gas tax to help fund a national infrastructure overhaul, but Republican leaders in Congress moved quickly to shut down the idea. During a White House meeting with House Transportation Committee Chairman Bill Shuster (R-Pa.) several ...
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He sees tax cuts and the Federal Reserve's moves to shrink its balance sheet pushing up Treasury's financing needs by 70 percent in 2018. China owns almost $1.2 trillion of U.S. government debt, more than double the level from a decade ago. Chinese officials believe the market for U.S. government ...
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The city of Bath is planning to lobby the government for the power to charge its many visitors a tourist tax. A levy of about £1 or more could be added to the accommodation bills of the million or so tourists who stay in the Georgian city every year. Councillors see it as a way of raising extra cash in times of ...
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Looks like 2018 is going to be a tough year for New Jersey's state and local governments. A Wall Street agency said Wednesday that New Jersey and its local governments will be fighting pressures on multiple fronts as they grapple with the expiration of a key property tax control, a changing federal tax ...
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A new study out today proposes a strategy for fighting obesity that may seem unrealistic in the current era of business-friendly government policies: a national excise tax on junk food manufacturers. But it's not such a crazy idea, say researchers from New York University and Tufts University. In fact, a ...
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Waste Management to give some employees $2,000 in bonuses following tax bill passage. Waste Management said Wednesday that it will give $2,000 in special bonuses to about 34,000 employees. The news comes after other companies have made similar announcements, citing the passage of tax ...
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But the Legislature could also choose to do nothing and continue to use the old federal tax code to compute Minnesotans' taxable income, saving state taxpayers from the tax increase. In that case, however, the Dept. of Revenue would have to administer the state's tax system based on the old federal ...
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Taxpayers used to be promised "inner peace" if they completed their tax returns on time. This year, HM Revenue & Customs has taken a different approach. Its latest marketing campaign features nagging ducks that quack "tax" at every opportunity. If successful, it will push up the numbers submitting their ...
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Eric Greitens on Wednesday promised the "boldest state tax reform in America" even as new federal and state tax cuts are just taking effect. Greitens said he wants lower taxes both for people and businesses, but he didn't reveal any further specifics in his second State of the State address. He said he'll ...
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Ridgewood received a whopping $21.2 million from residents looking to prepay their 2018 property taxes in December, most of it during a last-minute rush by homeowners to maximize their federal tax deductions before new rules took effect this year. They weren't alone. In Montclair, residents jammed ...
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The big unknown for 2018, however, is how the new federal tax law will affect home sales, said Hensal. It is a question echoed by several other real estate agents throughout Fairfield County. The Tax Cuts and Jobs Act lowers the level of deductions on mortgage interest as well as property and income ...
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In a global economy, a country's tax policy is essentially the cost of doing business and a key indicator of competitiveness. The cut in the U.S. corporate tax rate to 21 percent from 35 percent generated a strong response from Japan, home to the world's third-largest economy, which approved a corporate ...
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The rate settlements of other Florida utilities, including TECO, Duke Energy Florida, Gulf Power, and Florida Public Utilities Co. have provisions that address the changed corporate income tax rate, Kelly said. The settlements provide a period of 90 days (Gulf) and 120 days (Duke, TECO and FPUC) for ...
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Two Democratic lawmakers are backing bills that would increase the tax on a pack of cigarettes by $1.50, which would nearly double the current levy of $1.66. The legislators, Sen. Howie Morales and Rep. Liz Thomson, also propose raising the tax on electronic cigarettes and smokeless tobacco.
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Murad A. Alhanik, 39, the owner of the Obama Store and gas station in Columbia, S.C., was charged with "four counts of sales tax evasion," WISTV reported. The South Carolina Department of Revenue said Alhanik filed $971,935 in sales tax returns in the period between 2013 and 2016, but after an ...
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A Republican state representative in Oklahoma who has been chair of its House Appropriations and Budget Committee has cautioned Nebraska state senators about considering enactment of legislation that would automatically trigger tax cuts. Oklahoma did that, with her help, Rep. Leslie Osborn said ...
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WEB
The GOP's Tax Reform Offers No Relief from the Inflation Tax
The Tax Cuts and Jobs Act (TCJA) signed into law on December 22, 2017 promises no relief from one big tax on income — the inflation tax. Quite the contrary, there are strong grounds to expect this burden to increase as new and unannounced methods of collection evolve further.
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Avoiding the Mutual Fund Tax Trap
Earlier this week, the Wall Street Journal (WSJ) observed a problem that our readers have long known: mutual funds have a major structural flaw that exposes shareholders to unwanted and unnecessary tax liabilities. Moreover, this flaw should be of acute interest to anybody anywhere that owns a ...
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Tax Credit
MAXIMUS is here to help your business maximize its tax credit potential through government incentives. Learn how we can help today.
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Tax Season
Atlas' guide to U.S. income taxes, Delaware franchise tax, and other taxes relevant to your business.
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Dip News: South Korea's major cryptocurreny exchanges raided by police, tax authorities
https://www.zerohedge.com/news/2018-01-10/largest-south-korean-cryptocurrency-exchanges-raided-tax-evasion. "There are great concerns regarding virtual currencies and justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges," said Park Sang-ki at a press ...
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South Korea's Major Cryptocurrency Exchanges Raided by Police, Tax Authorities
In the VERY unlikely situation where they draft the bill, vote it in, then implement it nothing will happen for a least 6months minimum. However it won't get that far. This is a warning shot at the exchanges to pay their tax. Nothing more. They raided the offices of two exchanges. And you can bet your entire ...
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An obscure tax law might force Newman's Own to put itself up for sale
Newman's Own, the popular purveyor of philanthropic pasta sauce, will be forced to put itself up for sale or pay crushing fines this year due to an obscure provision in the tax code. The household brand is facing a tax bill of up to 200 percent on the majority of its business — a penalty so steep company ...
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CEO Doug McMillon's Note to Associates on Tax Savings
CEO Doug McMillon's Note to Associates on Tax Savings. By Doug McMillon. President & CEO, Walmart. January 11, 2018. Happy New Year! I hope you and your families had a great holiday season. Thank you so much for all your efforts to serve our customers during our busiest time of the year. I know ...
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Ted Cruz Makes Bernie Challenge Official With This Epic Tax Bill
Senator Ted Cruz just introduced a bill to make the current tax cuts permanent, and he wants Senator Bernie Sanders in on it.
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IRS to Delay Form W-4 Revisions Under New Tax Bill
It's expected that the IRS will design an updated W-4 for tax year 2019. When this happens, employers may have their work cut out for them. Learn more about this development from the recent tax reform law.
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National Taxpayer Advocate Delivers Annual Report to Congress
WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her 2017 Annual Report to Congress, describing challenges the IRS will face as it implements the recently enacted tax reform legislation and unveiling a new publication, "The Purple Book," that presents 50 legislative ...
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Moody's Warns Washington - USA Credit Rating At Risk Over Trump Tax Cuts
On the same day as Chinese officials, reviewing the nation's foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries, Moody's warns that US tax cuts are seen as a credit negative for the USA Sovereign rating.
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Significant tax increases in Plante administration's first budget
Home owners in the city of Montreal will see their property tax bills go up this year, many of them over the rate of inflation. The first-ever budget by new mayor Valérie Plante sets out an average property tax increase of 3.3% for residential properties and 3% for non-residential properties. That includes a ...
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South Korea Prepares Bill To Ban Cryptocurrency Trading, Raids Largest Exchanges For Tax ...
South Korea's largest cryptocurrency exchanges, including Bithumb and Coinone, were raided by police and tax agencies this week for alleged tax evasion.
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How retirement savers can curb risk of changing tax code The Wall Street Journal
Benjamin Harris of the Kellogg School of Management discusses how diversifying between traditional and Roth accounts could help lower tax risks.
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Idiot Liberals Support Trump's Tax Plan When They Think It's Bernie's
Idiot Liberals Support Trump's Tax Plan When They Think It's Bernie's. If the media told the truth about Trump's plan, people would be more receptive. Owen Shroyer | Infowars.com - January 9, 2018 0 Comments ...
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S. Korea Readies Ban On Cryptocurrency Trading as Police & Tax Agency Raid Exchanges
South Korea's justice minister has announced legislation is in the works to ban cryptocurrency trading after police and tax authorities reportedly raided the country's biggest exchanges in a tax evasion probe. "There are great concerns regarding virtual currencies and the justice ministry is basically ...
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Costco Puts INSANE Seattle Soda Tax on Blast
Seattle passed a crazy huge tax on soda and other sugary drinks that just went into effect. Costco put them on blast for it.
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Contact Us
Contact Us. Maximum Return Tax Preparation 102 E. Manlius Street East Syracuse, NY 13057. T: (315) 432-1TAX (829) F: (315) 432-9170 mail@taxserviceinsyracuse.com ...
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Reclaiming the Tax: Foregrounding the Public Covenant
Yves here. While some readers will recoil at the suggestion, late in the article, that the US Federal government move towards less progressive taxation, looking at taxes alone is a misleading guide as to whether government interventions are progressive or not. For instance, taxation in Europe is ...
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Workers to save more in tax changes
Changes in income tax bands and monthly relief will mean more money in workers pockets.
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Breaux Group
Storing Tax Records. April 15 has come and gone and another year of tax forms and shoeboxes full of receipts is behind us. But what should be done with those documents after your check or refund request is in the mail?
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Tax Cuts and Wars Are Not Enough, Mr. President
In 2017, the president had a handful of successes that should make all Trump supporters proud. He managed to engage in the greatest rollback of the regulatory state in recent memory, as well as to enact a decent tax cut that likely has goosed and will continue to improve the growth of the country's GDP ...
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South Korea's Major Cryptocurrency Exchanges Raided by Police, Tax Authorities
I'll echo my comment from another thread: Read between the lines. This isn't flash bangs and smoke grenades. "We were asked by the tax officials to disclose paperwork and things yesterday". Article / headline most likely sensationalized and it was actually just an unplanned visit without warning ...
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Pakistan mulls toll tax hike on NATO containers
It is reported that Pakistan mulls increasing the toll tax of NATO containers carrying weapons for foreign troops in Afghanistan.
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Navigate tax season using Stripe Atlas
I really admire how Stripe atlas has the customer's best interest in mind. I recently incorporated my company through them and without much thought decided to do it near 20th Dec. Immediately I got an email from them that it would be in my best interest to wait till 1st otherwise I'll be paying taxes in ...
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Lawmaker wants to end tax on hearing aid batteries
PHOENIX — The question of whether those with hearing impairment get tax relief could depend on whether lawmakers are willing to consider eliminating other tax breaks.
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Walmart Is the Latest to Announce Tax Reform Benefits
And the rewards for a solid tax reform plan keep coming. You can add big-box retailer, Walmart, to the growing list of companies passing the benefits of the recently signed GOP tax bill down to their employees. The announcement this morning is that the company will be increasing its starting wage for ...
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Corporate Tax Reform, 3
A unit investment trust that seeks to provide above average capital appreciation by investing in a portfolio of companies that could potentially benefit if the U.S. corporate tax rate is reduced.
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Tax Advisor
Prepare tax computations of active (and dormant as required) UK companies ( including North Sea Ring Fence) to submission level for review by Senior Tax Advisor (STA); Research and draft replies to any HMRC correspondence; Prepare quarterly CT payment recommendations (as required); Provide ...
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The Most "Disruptive" Development of 2017 Goes to...Taxes!
Physicians in the Cross Hairs: As states with business-friendly tax codes become a physician's mecca, those of us in high-tax states may find a dwindling number of practitioners in the next decade. As we take stock of the winners and losers of tax reform heading into 2018, let's reflect on the details. First.
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Brazil's New Tax Rules for Oil and Gas Activities
Please join us for an insightful discussion on the recent changes in the Tax Legislation related to Oil & Gas Activities in Brazil: Law No. 13.586/2017 and Repetro (Normative Ruling no. 1781/2017). For additional information, please contact Merritt Moses at mmoses@mayerbrown.com or +1 713 238 ...
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Marijuana Expected To Be California's Largest "Sin Tax" As Jerry Brown Set To Release Surplus ...
California Governor Jerry Brown will release his final state budget tomorrow for the 2018-2019 fiscal year which will include, for the first time, tax revenue from weed sales. As Reuters notes this morning, Brown and state lawmakers have 'high' expectations for the new revenue stream which is expected ...
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Ricketts unveils property, income tax plans
Ricketts unveils property, income tax plans. Gov. Pete Ricketts has unveiled a new tax package that would boost credits for Nebraska residents who own homes and farmland, lower the state's top income tax rates and expand job-training programs. The governor outlined a proposal in his State of the ...
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GOP Advocacy Group Releases Digital Ads After Tax Law Approved
Two of the House Republicans in New York who backed the December tax legislation in Congress are receiving support from a GOP-aligned advocacy group that is spending millions to trumpet the plan. The two digital ads from the American Action Network are part of a $1.5 million campaign for the next ...
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2018 Tax Talk & Rev Rec Webinar
Join us on Wednesday, January 24th at 8:00 am for our 2018 Tax Talk & Rev Rec Webinar. This live broadcast will discuss new tax strategies businesses will need to deploy in the wake of U.S. Tax Reform as well as a summary of the new revenue recognition changes and will conclude with a Q&A ...
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Brown estimates first-year legalized cannabis state tax take at $643 million
Gov. Jerry Brown estimated Wednesday that the state will receive $643 million from excise taxes on marijuana during the first full year of legalization in California, much more than the cost to the state of issuing licenses and enforcing new rules. Brown's estimates are contained in the budget he proposed ...
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Tax Reform Impact on MLP C-Corp Funds
One immediate impact is that MLP C-Corp funds will change their tax accrual rates. For example, in fiscal year 2017 the Global X MLP ETF (MLPA), which is our only MLP C-Corp fund, had an effective tax rate of 36.94%. This rate included deferred federal and state income taxes as well as franchise tax ...
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Tax Specialist
Tax Specialist in Agriculture / fishing / forestry, Tax with Wellnext. Apply Today.
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I HAVE MY TAX REFUND...NOW WHAT?
It's that time of year again! You've compiled all tax documentation to tackle the yearly adulting responsibility to file your taxes, and double checked all of your itemized deductions and any other write offs to fully maximize your return. The confirmation email has finally been sent, and now you're patiently ...
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Governor Pushes Senators for Tax Relief Legislation
LINCOLN, Neb. – In his fourth State of the State address Wednesday, Governor Pete Ricketts emphasized the time is now for the Nebraska Legislature to act on relieving property and income taxes. "We have to remain laser-focused on growing Nebraska this session. That means cutting red tape, ...
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Overview Guide on Corporate Tax Rates
This guide explains the structures of various business entities & their corporate income tax rates, and discusses their future in the United States.
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The Latest: Maryland officials brace for tax, health, debate
Maryland lawmakers are bracing for a challenging session wrestling with changes in tax and health care law in Washington. Senate President Thomas V. Mike Miller, a Democrat, told senators Wednesday on the first day of the General Assembly's 90-day session that lawmakers will need to come up ...
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Tax Organizer
Complete the tax organizer, sign the engagement letter and deliver with all supporting tax documents. To deliver through the internet use the SecureSend feature on the website, or register for a Client Portal Login to upload files on our secure portal. Or deliver to them to our office. We look forward to ...
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Tax Biz PT
Tax Biz seeking PT EE. 3 days wk. Wage range $15-25hr DOE. Send Resume to geoffrey@ stellartaxconsulting.com. Zip Code: 80443. City: Frisco. Company: Private. Job Title: Tax Biz PT- EE. Posted On: Jan 10, 2018. Share ad; Report abuse. Contact Information ...
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Buchanan to Chair Key Ways and Means Tax Panel
WASHINGTON – U.S. Rep. Vern Buchanan today was named chairman of the House Ways and Means Tax Policy Subcommittee and will lead efforts to update and fine-tune the tax reform bill just signed into law.
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Where does sales tax show up on the settlement statement?
Amazon is collecting sales tax but I can't see anywhere on the settlement statement (available under Reports in Seller Central) that shows where they are paying us back the sales tax. I see on the transaction detail I download that sales tax is collected on each transaction but it isn't even included in the ...
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No Thanks to Baldwin: Wisconsin Seeing Benefits of Tax Bill
Senator Tammy Baldwin's vote against tax reform is starting to catch up with her. After the historic passage of the Tax Cuts and Jobs Act, more than 100 businesses nationwide have already announced bonuses or pay raises for employees. Wisconsinites locally are feeling the positive impact following ...
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