by taxPRO Websites Staff | Jun 22, 2020 | Tax Tips and News
Tax Policy – Latest Data Shows That the Tax Cuts and Jobs Act Did Not Dampen Charitable Giving
Americans are very generous people, and they give despite the reduced tax benefits of giving. That’s the takeaway from Giving USA’s latest annual report on the...
by taxPRO Websites Staff | Jun 19, 2020 | Tax Tips and News
IRS Tax News – Guidance on how to take CARES Act distributions from qualified plans
The IRS released guidance on how taxpayers can take coronavirus-related distributions from qualified retirement plans as authorized by the CARES Act.
Source: IRS Tax...
by taxPRO Websites Staff | Jun 19, 2020 | Tax Tips and News
Tax professionals planning to use the IRS Modernized e-File (MeF) system this weekend to file a stack of returns for their clients may have to send them to the Internal Revenue Service at a different time. The… Read more about IRS Says Modernized e-File Unavailable During Extended Maintenance (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…
by taxPRO Websites Staff | Jun 18, 2020 | Tax Tips and News
Tax Policy – Full Expensing is Good for the Short Run and the Long Run
Full expensing for capital investment is being considered in the upcoming fourth round of coronavirus relief legislation. Though we tend to talk about full expensing as a long-run...
by taxPRO Websites Staff | Jun 18, 2020 | Tax Tips and News
Tax Policy – Michigan Vapor Tax Bill Gets It Half-Right
In line with the nationwide trend of taxing vapor products, the Michigan Senate has passed a new 18 percent tax on vapor products. These taxes are often intended to achieve a two-fold goal: deterring...
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