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States are Boosting Economic Security with Child Tax Credits in 2023

Fourteen states now provide Child Tax Credits to reduce poverty, boost economic security, and invest in children. This year alone, lawmakers in three states created new Child Tax Credits while lawmakers in seven states expanded existing credits. To maximize impact, lawmakers should consider making their credits fully refundable, not including an earnings requirement, setting a maximum amount per child instead of per household, setting state-specific phase-out ranges that target low- and middle-i...
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Source: itep.org

When LOA strikes twice | Atty. Irwin C. Nidea Jr.

How rare is it to get struck by lightning twice? Google says itโ€™s around one in nine million. Does it have the same probability as a taxpayer being served with a Letter of Authority not once but twice for the same taxable year? I would say that the odds are…
Termination Letter Or Authority To Cancel Assessment Associates Law Offices Letter Of Authority Tax Code Termination Letter Cancel Assessment

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The need to review the rules on VAT zero rating

THE amendments to the National Internal Revenue Code of 1997 (Tax Code), introduced by Republic Act (RA) 11534 (Create) and by RA 10963, or the Tax Reform for Acceleration and Inclusion (Train), particularly on the imposition of value-added tax (VAT) on indirect exports and limiting the transactions subject to zero-rated VAT, have caused an uproar and much confusion in the business world.
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