by Upstate Tax Professionals | May 9, 2020 | Tax Tips and News
The Internal Revenue Service announced that Settlement Days will be hosted via teleconferencing platforms due to coronavirus stay-at-home orders.… Read more (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…
by Upstate Tax Professionals | May 8, 2020 | Tax Tips and News
IRS Tax News – Taxpayers must act soon for direct deposit of stimulus payments
The IRS announced that taxpayers for whom the Service does not have direct deposit information should go to its “Get My Payment” website and enter that information by noon on...
by Upstate Tax Professionals | May 8, 2020 | Tax Tips and News
IRS Tax News – Trusts and estates are permitted certain deductions
The IRS issued proposed regulations to clarify that certain deductions are allowed to an estate or nongrantor trust because they are not miscellaneous itemized deductions.
Source: IRS...
by Upstate Tax Professionals | May 8, 2020 | Tax Tips and News
Tax Policy – Reducing the Bias Against Long-term Investments
Recently, Tax Foundation has been comparing various ways to improve the tax treatment of new capital investments. One of these options is a Neutral Cost Recovery System (NCRS), which reduces the...
by Upstate Tax Professionals | May 8, 2020 | Tax Tips and News
Tax Policy – Alabama, Missouri Bills Would Exempt CARES Relief from Income Tax Calculation
The Alabama Senate is considering legislative language (a substitute to the previously introduced SB 250 tax reform bill) which would exclude the rebate checks...
Upstate Tax Professionals