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Tax Cuts And Jobs Act

All articles tagged with #tax cuts and jobs act

finance1 year ago•13 min saved

Navigating the Corporate Transparency Act: Key Deadlines and Compliance Tips

The Forbes Tax Breaks newsletter discusses the low compliance rate with the Beneficial Ownership Information (BOI) reporting requirement, with only 20% of businesses having filed with FinCEN. The newsletter also covers potential changes to the Tax Cuts and Jobs Act provisions set to expire in 2025, including the state and local tax deduction cap. Additionally, it addresses the potential rollback of green tax incentives, such as the electric vehicle tax credit, under President-elect Donald Trump. The newsletter highlights the ongoing debate over the taxation of Social Security benefits and provides updates on tax deadlines and events.

via Forbes|

#beneficial-ownership-information #corporate-transparency-act #electric-vehicle-tax-credit

law-and-politics2 years ago•5 min saved

Supreme Court Weighs Trump-Era Tax Provision and Wealth Tax Implications

The Supreme Court appeared open to narrowly upholding a tax on foreign income in a case that could have significant implications for the U.S. tax system. The justices seemed skeptical of striking down the tax and instead sought a limited ruling that would not set a broad precedent. The case, Moore v. United States, revolves around the definition of income and when it should be subject to taxation. The couple challenging the law argues that income should only include gains made through payment to a taxpayer, not through an increase in the value of property. The case has sparked controversy and calls for recusal from some justices due to potential conflicts of interest.

via The New York Times|

#definition-of-income #foreign-income #law-and-politics