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IRS Audits Corporate Jets To Ensure High Income Taxpayers Don't Fly Under The Radar

Audits will be focused on aircrafts used by large corporations, large partnerships and high-income taxpayers with a look at allocation between business and personal use.

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A Technical Correction to Address the Impact of the State and Local Tax Deduction Cap on State-Based Tax Credit Scholarship Programs

The Tax Cuts and Jobs Act (TCJA) of 2017 was the most comprehensive update to the federal tax code in more than 30 years. Although the primary goal of the reform was economic growth and job creation, an important secondary goal was making the federal tax code more neutral toward state tax policy.

New-york , United-states , Louisiana , Georgia , Montana , Alabama , Nevada , New-hampshire , District-of-columbia , Florida , Rhode-island , Illinois

House Passes Build Back Better Act | Groom Law Group, Chartered

On November 19, 2021, the U.S. House of Representatives voted to approve the Build Back Better Act (H.R. 5376, the “BBB Act”), the budget reconciliation bill that includes much of...

United-states , District-of-columbia , American , Richard-neal , Elijahe-cummings , Senate-majority-leader-chuck-schumer , Mental-health-parity , Domestic-international-sales-corporation , Senate-finance-committee , Groom-law-group , Department-of-labor , Expansion-of-the-health-coverage-tax-credit

The Build Back Better Act: Tax Reform Implications for Private Equity M&A | McDermott Will & Emery

On October 28, 2021, US President Joe Biden unveiled his slimmed down $1.75 trillion infrastructure spending plan and congressional leadership released H.R. 5376 (the Build Back Better...

Joe-biden , Exchange-commission , Means-committee-on , No-frees-corp , Build-back-better-act , President-biden , House-ways , Means-committee , Carried-interest-changes , Tax-cuts , Jobs-act , Income-limitation

Private Equity Implications of Build Back Better Tax Reform

Joe Biden unveiled his slimmed down $1.75 trillion infrastructure spending plan and congressional leadership released BBBA which contains revised proposals for tax law changes to pay for the various pieces of President Biden’s new agenda.

Joe-biden , Exchange-commission , Means-committee-on , No-frees-corp , Build-back-better-act , President-biden , House-ways , Means-committee , Carried-interest-changes , Tax-cuts , Jobs-act , Income-limitation

House Ways and Means Committee Proposes Tax Law Changes | Kelley Drye & Warren LLP

House Ways and Means Committee Proposes Tax Law Changes | Kelley Drye & Warren LLP
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United-states , American , International-provisions , International-financial-reporting-group , Means-committee , Democratic-party , House-ways , Means-tax , Client-advisory , Individual-income-tax , Capital-gains

House Budget Reconciliation Text Includes Significant Health, Paid Leave, And Retirement Provisions - Employment and HR

House Budget Reconciliation Text Includes Significant Health, Paid Leave, And Retirement Provisions - Employment and HR
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Germany , New-york , United-states , Australia , Japan , New-jersey , District-of-columbia , United-kingdom , Massachusetts , Washington , Rhode-island , Oregon

Tax and Employee Benefits Reform

House Committee on Ways and Means released the remainder of its numerous tax reform proposals. The proposals will be subject to continued negotiations and are not law. But, the proposals are an indication of what may be coming soon.

United-states , American , Tax-administration , Revenue-service , Partnership-interests-held-in-connection , Senate-finance-committee , House-committee-on-ways , Funding-of-the-internal-revenue-service , Performance-of-services , House-committee , Corporate-tax

How does the IRS enforce the Nation's Tax Laws for the benefit of all Taxpayers? | Foodman CPAs & Advisors

To embed, copy and paste the code into your website or blog:
On December 17, 2020, the IRS published a document entitled “Closer Look”. It explains the IRS aspiration for balancing the Taxpayer burden with the potential benefit of its compliance effort when deciding which compliance tool to use. The goal of the IRS is to minimize taxpayer burden while encouraging voluntary compliance through utilizing the most appropriate resources.

IRS “Employee” Compliance tools
Tax Examiners and Tax Compliance Officers conduct audits and related reviews of less complex tax law and Taxpayer account issues.
Revenue Agents audit more complex tax returns and secure payment of taxes owed.

Us-department-of-justice , Tax-compliance-officers , Investigation-special-agents , Taxpayer-identification , Tax-examiners , Tax-compliance , Revenue-agents , Criminal-investigation , High-income , High-income-taxpayers , எங்களுக்கு-துறை-ஆஃப்-நீதி