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IRS allows midyear changes to health coverage, dependent care elections

by Upstate Tax Professionals | May 12, 2020 | Tax Tips and News

IRS Tax News – IRS allows midyear changes to health coverage, dependent care elections In response to the coronavirus pandemic, the IRS is allowing employers to permit their employees to change their health coverage elections or dependent care elections...

A Comparison of the Tax Burden on Labor in the OECD

by Upstate Tax Professionals | May 11, 2020 | Tax Tips and News

Tax Policy – A Comparison of the Tax Burden on Labor in the OECD Key Findings Average wage earners in the OECD have their take-home pay lowered by three major taxes: individual income, payroll (both employee and employer side), and value-added (VAT) and...

California the Latest to Propose Higher Vapor Taxes

by Upstate Tax Professionals | May 11, 2020 | Tax Tips and News

Tax Policy – California the Latest to Propose Higher Vapor Taxes When Governor Gavin Newsom (D) submits his revised budget proposal on Thursday, it will include a vapor tax increase. California currently taxes vapor products at 59.27 percent of wholesale...

Designing a State and Local Government Relief Package

by Upstate Tax Professionals | May 11, 2020 | Tax Tips and News

Tax Policy – Designing a State and Local Government Relief Package Key Findings The COVID-19 pandemic and the attendant economic contraction will wreak havoc on state and local tax revenues, with projections of a 15-20 percent decline in state revenues....

New Credits Available for Businesses Hit by COVID-19

by Upstate Tax Professionals | May 10, 2020 | Tax Tips and News

The Internal Revenue Service is reminding employers who have been impacted by the Coronavirus pandemic that three new credits are available for them.… Read more (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

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