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Articles

Boughton, Stefanowski, have lots of confidence, few details on plans to phase out income tax
Republican gubernatorial contenders Mark Boughton and Bob Stefanowski have no problem putting an expiration date on the state income tax. Boughton has it going away in 10 years, Stefanowski in eight. But how exactly would they eliminate a...
Treasury, IRS issue proposed regulations on new 100 percent depreciation
The Treasury Department and the Internal Revenue Service today issued proposed regulations on the new 100-percent depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in...
IRS, Treasury issue proposed regulations implementing Section 965
The Internal Revenue Service and the Department of the Treasury today issued proposed regulations on section 965 of the Internal Revenue Code. The proposed regulations affect United States shareholders, as defined under section 951(b) of the...
IRS issues guidance on small business accounting method changes under Tax Cuts and Jobs Act
The Internal Revenue Service issued guidance today on new tax law changes that allow small business taxpayers with average annual gross receipts of $25 million or less in the prior three-year period to use the cash method of accounting. The...
Senate Approves IRS Funding Bill
The Senate passed a package of four appropriations bills, including roughly $11.3 billion in fiscal year 2019 funding for the IRS.  Read more...   (Source: ASAE)
Senate Bills Would Repeal Fringe Benefits Provision
Lawmakers are increasingly aware of the need to fix a provision in the new tax law that requires tax-exempt organizations to pay taxes on employee parking and transportation benefits.  Read more...    (Source: ASAE)
30 million people are not withholding enough for taxes - How to tell if you’re one of them
The GAO says 21 percent of taxpayers – or about 30 million people – aren’t withholding enough taxes from their pay this year.
State-by-State Tax Legislation in Response to Federal Tax Reform
The Tax Cuts and Jobs Act, the major tax reform law passed into law at the end of 2017, has had many affects on taxpayers, particularly regarding the deductiblity of property and local taxes, but also in other areas. As a result, many states have...
Just Added: Live AND Livestream "Understanding the New Pass-Through Entity Tax" Program
Join us from 8:30 to 10:30 a.m. on Tuesday, August 28 for this two-hour session and learn from members of the CTCPA State Taxation Committee about this new legislation. The session will focus on the practical implications of the new tax on your...
Tax Security 101: Security Summit outlines ‘Security Six’ basic safeguards for tax professionals’ computers and email
The Internal Revenue Service and the Security Summit partners outlined critical steps for tax professionals to protect their computers and email as well as safeguarding sensitive taxpayer data. The “Security Six” protections fall...

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