by Upstate Tax Professionals | Feb 18, 2020 | Tax Tips and News
IRS Tax News – No need to report some transactions in video game currency, IRS says
Gamers who, as part of a video game, transact in virtual currencies that do not leave the video game environment do not have to report the transactions on a tax return, the...
by Upstate Tax Professionals | Feb 18, 2020 | Tax Tips and News
Tax Policy – How Controlled Foreign Corporation Rules Look Around the World: Germany
Germany has had a Controlled Foreign Corporation (CFC) regime since 1972, when the German Foreign Transactions Tax Act was enacted. Under the German regime, a CFC is a...
by Upstate Tax Professionals | Feb 14, 2020 | Tax Tips and News
Tax Policy – Kansas, Nebraska, and Utah Lawmakers Pursue “Not GILTI” Verdicts
Lawmakers in Kansas, Nebraska, and Utah never voted to tax GILTI—and now their respective tax committees are getting a chance to decide whether they really should. Committee...
by Upstate Tax Professionals | Feb 14, 2020 | Tax Tips and News
Tax Policy – Toomey Introduces Legislation to Make Bonus Depreciation Permanent and Fix the Retail Glitch
Thursday, Sen. Pat Toomey (R-PA) introduced the “ALIGN Act,” which would make 100 percent bonus depreciation for short-life assets a permanent feature...
by Upstate Tax Professionals | Feb 13, 2020 | Tax Tips and News
Tax Policy – Summary of the OECD’s Impact Assessment on Pillar 1 and Pillar 2
Today, the OECD presented its preliminary impact assessment on the Pillar 1 and Pillar 2 proposals. The impact assessment includes estimated revenue and investment effects...
Upstate Tax Professionals