Estates, Gifts & Trusts Tax
Chances are most your clients are dealing with multiple issues, such as losing employer-sponsored benefits, taking care of older parents, paying for their children’s college tuition or planning for retirement. As a legal tax professional, are you confident that your current tax, planning and research tools are versatile enough to handle their diverse needs? If your financial and estate planning tools aren’t keeping pace with your clients’ lives, contact us today — we’ll get you there.
May 25, 2017
CCH Tax Day Report Roughly 23-million fewer individual would have health insurance and the deficit would be cut by $119 billion over the next 10 year if the House-passed American Health Care Act of 2017 (HR 1628) (TAXDAY, 2017/05/05, C.1) becomes law, according to much-anticipated analysis released by the Congressional Budget Office (CBO) and the […]
The post CBO Report on House-Passed Health Care Bill Indicates 23 Million Would Lose Coverage appeared first on Tax & Accounting Blog.
May 25, 2017
CCH Tax Day Report Treasury Secretary Steven Mnuchin briefed members of the House Ways and Means Committee on President Trump’s fiscal year (FY) 2018 budget proposals on May 24. Mnuchin reiterated the president’s goal of comprehensive tax reform. President Trump released his FY 2018 budget proposals on May 23 (TAXDAY, 2017/05/24, W.1). The president’s budget […]
May 24, 2017
CCH Tax Day Report The House Ways and Means Committee heard from the business community about the proposed border adjustment tax on May 23. House Republicans have proposed a border adjustment tax as a revenue raiser for comprehensive tax reform (TAXDAY, 2017/05/23, C.1). Background In 2016, House Republicans unveiled their “Better Way Tax Reform Blueprint,” […]
The post Ways and Means Holds Hearing on Border Adjustment Tax appeared first on Tax & Accounting Blog.
May 24, 2017
CCH Tax Day Report President Trump unveiled his administration’s fiscal year (FY) 2018 budget proposals on May 23. The FY 2018 budget does not elaborate on tax reform measures but reiterates the president’s call for lowering individual and business tax rates, as well as eliminating the Alternative Minimum Tax (AMT) and the federal estate tax. […]
The post Trump Releases FY 2018 Budget Proposals; Tax Reform Details Expected Later appeared first on Tax & Accounting Blog.
May 23, 2017
CCH Tax Day Report In advance of a May 23 House Ways and Means hearing on tax reform and a proposed border adjustment tax, the Joint Committee on Taxation has prepared a report. The report presents an overview of a border adjustment tax. Background House Republicans unveiled their “Better Way Tax Reform Blueprint” in June […]
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May 22, 2017
CCH Tax Day Report A listed transaction penalty was not time barred because the assessment occurred more than one year after the examining agent came into possession of enough information to justify the penalty. Code Sec. 6501(c)(10)(A) provides that the IRS must assess a listed-transaction penalty within one year of the date the “Secretary is […]
The post Penalty for Failure to Report Listed Transaction Was Timely (May, CA-9) appeared first on Tax & Accounting Blog.