by Upstate Tax Professionals | Jul 16, 2020 | Tax Tips and News
IRS Tax News – IRS reinstates PTIN user fees
The IRS said it would once again begin charging fees to issue preparer tax identification numbers (PTINs) to tax return preparers for 2021. The fee was reduced in response to court cases that challenged the...
by Upstate Tax Professionals | Jul 16, 2020 | Tax Tips and News
Tax Policy – Financial Transaction Tax Could Hit Average Spanish
Since Pedro Sanchez first became Spain’s Prime Minister in 2018 and, now, in conjunction with the left-wing coalition party, Unidas Podemos, he has been working to overhaul the Spanish tax...
by Upstate Tax Professionals | Jul 16, 2020 | Tax Tips and News
Tax Policy – Cigarette Taxes in Europe
To ensure the functioning of its internal market, the EU sets a minimum excise duty on cigarettes. It consists of a specific component and an ad valorem component, resulting in a minimum overall excise duty of €1.80...
by Upstate Tax Professionals | Jul 16, 2020 | Tax Tips and News
Tax Policy – Sources of Personal Income, Tax Year 2017 Update
Key Findings Taxpayers reported about $11 trillion of total income on their 2017 tax returns. About 68.8 percent ($7.5 trillion) of total income reported on Form 1040 consisted of wages and...
by Upstate Tax Professionals | Jul 15, 2020 | Tax Tips and News
IRS Tax News – Partnership form being redesigned for 2021
The IRS proposes modifying the partnership form (Form 1065) to help standardize the format of international tax items.
Source: IRS Tax News – Partnership form being redesigned for...
Upstate Tax Professionals