The IRS recently announced that it will require new security questions as part of the tax return submission and validation process for the 2017 tax...
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Tax Reform: “Big Six” Negotiators Release Statement
The “Big Six” group of Trump Administration officials and congressional negotiators released a statement Thursday on tax reform, saying they will...
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Seattle Mayor Approves Controversial City Income Tax
Seattle, Washington’s mayor, Ed Murray, has signed an ordinance establishing a citywide income tax on high earners. Challenges are expected...
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Puerto Rico: New Rules on Using Tax Credits
A resolution outlining new guidance on the use of tax credits in Puerto Rico was released Thursday. The ruling applies to tax credits granted as of...
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Tax Court: Firefighter’s Disability Allowance Includible in Gross Income
Both the IRS and the U.S. Tax Court agree a retired firefighter’s disability allowance should be included in his gross income. The taxpayer, a...
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IRS Removes Portions of Regulations
The IRS is withdrawing parts of REG-163314-03 under Sections 351 and 368 that would have affected corporations and their shareholders by requiring...
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Treasury Identifies Certain Debt Classification Regulations as Burdensome
The U.S. Department of Treasury has ruled several recent tax regulations as burdensome, including those under Section 385 of the Internal Revenue...
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Floyd Mayweather Asks IRS for Tax Reprieve Until After McGregor Fight
Floyd Mayweather has filed a petition with the IRS stating he cannot pay his 2015 tax liability until after he is paid for his upcoming fight with...
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NAFTA: Mexico Posts Website to Collect Public Commentary on Renegotiations
Mexico’s Ministry of Economy has set up a website dedicated to gathering public commentary and proposals concerning the modernization of the North...
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Note to Individual Income Tax Payers: Don’t Underemphasize Midyear Tax Planning
For anyone looking to optimize their tax posture for the fiscal year, taking the time to do a midyear tax checkup is essential. In addition to...
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