Senate Finance Committee Approves IRS Commissioner Nominee
The Senate Finance Committee (SFC) advanced President Donald
Trump’s nomination of Charles Rettig for IRS Commissioner. The SFC
approved the nomination on July 19 by a 14-to-13 party line vote.
...
Trump, House GOP Lawmakers Discuss Tax Cuts 2.0
President Donald Trump and House GOP tax writers
discussed "Tax Cuts 2.0" in a July 17 meeting at the
White House. The next round of tax cuts will focus primarily on the
individual side of t...
Ways and Means GOP, White House Crafting Tax Cut 2.0 Outline
House Republicans and the Trump Administration are working together
to craft a tax cut "2.0"outline, the House’s top tax writer
has said. House Ways and Means Committee Chairman Kevin Brady...
Wyden Report Critiques GOP’s Tax Reform
The Senate Finance Committee’s (SFC) leading Democrat has released
a report critiquing Republicans’ 2017 overhaul of the tax code. The
report, focusing primarily on international tax refor...
Tax Reform Hurts Homeowners, House Democratic Report Says
Homeowners will be hurt financially by last year’s tax reform,
according to a new House Democratic staff report. The report
alleges that real estate developers will primarily benefit from the
ne...
Final Regulations Target Tax-Motivated Inversion Transactions
The IRS has issued final regulations that target tax-motivated
inversion transactions and certain post-inversion tax avoidance
transactions. The final regulations retain the thresholds and
substantiat...
Tax Preparer’s Obstruction Conviction Vacated
The Fifth Circuit vacated a tax preparer’s conviction for
obstructing tax administration. The conviction was no longer valid
in light of C.J. Marinello,
SCt., 2018-1 ustc &pa...
National Taxpayer Advocate Releases Mid-Year Report
National Taxpayer Advocate Nina E. Olson has released her mid-year
report to Congress. The report contains a review of the 2018 filing
season, and identifies the priority issues the Taxpayer Advocate
...
How do I? Make tax-free gifts for tuition
With the soaring cost of college tuition rising on a yearly basis,
tax-free tuition gifts to children and grandchildren can help them
afford such an expensive endeavor, as well as save the generous
ta...
A first look at 2017 inflation-adjusted tax amounts now available
An early glimpse at the income tax picture for 2017 is now
available. The new information includes estimated ranges for each
2017 tax bracket as well as projections for a growing number of
inflation-s...
Year-end tax planning is right around the corner
It’s not too early to get ready for year-end tax planning. In fact,
many strategies take time to set up in order to gain maximum
benefit. Here are some preliminary considerations that may help
y...
Liability for the "nanny" tax
Employers generally have to pay employment taxes on the wages they
pay to their employees. A fine point under this rule, however, is
missed by many who themselves have full time jobs and don’t t...
What the new 1099 reporting requirement will mean for businesses
Businesses of all sizes are preparing for a possible avalanche of
information reporting after 2011. To help pay for health care
reform, lawmakers tacked on expanded information reporting to the
Patie...
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