Congress Considers IRS Identity Theft Bill as Part of Taxpayer First Act
The Taxpayer First Act making its way through Congress includes an identity theft bill that would require the IRS to act when someone makes unauthorized…
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IRS Releases Much Anticipated Second Round of Proposed Opportunity Zone Regulations
The IRS has released the much anticipated second round of proposed regulations for tax reform’s Opportunity Zone (OZ) program. The bipartisan OZ provision enacted under…
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Oregon’s IRC 199A Addback Not Unconstitutional
Oregon law requiring personal income taxpayers to “addback” the IRC Sec. 199A deduction did not violate the Oregon Constitution. Taxpayers claimed the law was a…
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Is ‘Interest’ Defined Too Broadly in Proposed Section 163(j) Regulations?
The American Institute of Certified Public Accountants (AICP) believes that the definition of interest in IRC Section 163(j) proposed regulations is too broad and should…
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The Rise of the Robot Tax
The idea of a robot tax may sound futuristic to some, but with the explosion of artificial intelligence (AI) lawmakers around the world are considering…
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MTC Working Group Proposes “Finnigan” Model Statute
The Multistate Tax Commission’s (MTC) Combined Filing Model Working Group has drafted a model “Finnigan Method” Combined Reporting Statute. The MTC received a request to…
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Federal Tax Extenders Could Return to Affect 2018 Returns
Taxpayers surprised this filing season that they could not claim certain tax breaks may find relief for their 2018 returns from federal tax extender legislation.…
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Wolters Kluwer Interview: Practitioner Q&A on the Section 199A Deduction
Republicans’ 2017 overhaul of the tax code created a new Section 199A 20-percent deduction of qualified business income (QBI). This new Section 199A QBI deduction,…
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SECURE Act and RESA Bills – 401(k) Changes
401(k) plans may go through several changes if the bills known as the SECURE Act and RESA make it through Congress. The retirement savings legislation…
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State Income Tax for Mobile Workers: Senate Introduces Workforce Simplification Act
To address the complexity of state income tax for mobile workers, U.S. Senators introduced the Mobile Workforce State Income Tax Simplification Act of 2019. The…
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