Legislation
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‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
Accountant Gets Jail Time For Charging $3 Million on New Jersey Employer’s Credit Card
New Jersey Joins IRS Direct File For 2025 Filing Season
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IRS Updates FAQs on Electric Vehicle Tax Credits
The revised FAQs pertain to the new, previously owned, and qualified commercial clean vehicle credits.
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Trump Tax Cuts Were Neither Panacea Nor Rip-Off
While the cuts yielded benefits to Americans up and down the income scale, the benefits could best be described as modest.
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IRS Proposes Regs For Stock Repurchase Excise Tax
The new guidance pertains to the Inflation Reduction Act's 1% excise tax owed on corporate stock repurchases or buybacks.
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IRS: Energy-Efficient Rebates Not Income
However, taxpayers will need to reduce the basis of the property when they sell it by the amount of the rebate, the IRS said last week.
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Bipartisan $78 Billion Tax Deal Hits GOP Roadblock in Senate
Senate Republicans don’t want to hand President Biden an election-year victory on the legislation, which passed the House in January.
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The New Tax Court Limited Partnership Ruling: What to Know
The U.S. Tax Court determined that the exception to net earnings from self-employment in Section 1402(a)(13) of the Internal Revenue Code of 1986, as amended, does not automatically apply to all limited partners in a state law limited partnership.
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Warren Reintroduces ‘Ultra-Millionaire’ Tax Legislation
The tax, which would impact the top 0.05% of the nation’s households, would bring in $3 trillion in revenue over 10 years.
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Tax Law: These TCJA Provisions Will Expire Soon
The nation’s lawmakers may allow these provisions to expire as written into the TCJA, extend them indefinitely, for a period of time or even permanently, or otherwise modify them.