Tax & Accounting Blog
Tax & Accounting Blog
1827
As has been widely reported, Facebook recently settled a class action lawsuit brought against the company for alleged violations of the Illinois Biometric Information Privacy…
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California has proposed a new tax voucher program that would raise revenue for the state without increasing taxes. Under the program, taxpayers purchasing the vouchers…
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Taxpayers may be able to get a significant tax refund for bonus depreciation if: A larger property that includes separately acquired or constructed components is…
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In the November 3, 2020, election, Colorado voters approved a statutory decrease to the state’s income tax rate. What is the New Rate? The ballot…
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As the end of 2020 approaches, individuals should remember that some special rules apply to charitable contributions deductions for the year. These include an Taxpayer…
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Draft Form 1065 instructions for tax year 2020 direct taxpayers to calculate partner capital accounts using a tax basis method. Previously, partnerships could report capital…
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New Jersey’s voluntary pass-through entity-level tax went into effect in 2020. Pass-through entities (PTEs) electing to pay the tax must file an annual return by…
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A new California tax credit provides some relief to small businesses for the economic disruptions caused by COVID-19. The credit is available for the 2020…
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Draft instructions for Form 1040 include a few new details about how taxpayers should answer the question about virtual currency transactions. Virtual Currency Transaction Question…
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New Hampshire has filed a motion to the U.S. Supreme Court challenging a permanent Massachusetts’ rule requiring New Hampshire residents to pay Massachusetts’ income tax. The rule clarifies when…
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