The Senate passed the “Tax Increase Prevention Act of 2014″ (H.R. 5771) on Tuesday night just before Congress adjourned for 2014.
While it is highly unlikely Santa’s little helpers will deliver to taxpayers a tax reform package by the end of 2014 that is acceptable to the Senate, the House of Representatives and the President, House Ways and Means Committee Chairman, Dave Camp, made one last attempt to move the ball forward.
New York State On Bitcoins: Transactions Are Barters for Sales Tax Purposes; Follow Federal Guidance for State Income Taxes
The New York State Department of Taxation and Finance has issued guidance on the sales tax, corporation franchise tax, and personal income tax implications of transactions involving convertible virtual currency, such as bitcoins.
In the annual ritual of last minute legislative action, the Senate has passed the renewal of nearly all of the so-called Extenders legislation by a vote of 76 to 16, which will make the tax incentives applicable to calendar year 2014 if signed by the President.
The 2014 gift tax annual exclusion allows you to give up to $14,000 per recipient tax-free without using up any of your lifetime gift tax exemption. If you and your spouse “split” the gift, you can give $28,000 per recipient.
The next few years will be difficult for Latin American countries. Low petroleum and commodity prices are adversely affecting the economies of the region. At the same time, there is increased pressure on the governments for economic and social reforms.
The battle for future tax reform ignited even before the close of the 113th Congress.
What Condominium and Homeowners Associations Should Consider When Thinking About Appealing Property Taxes
Condominium and homeowners associations often have common questions concerning property tax adjustment.
For technology and other startups, going public can be doubly taxing—literally.
Perhaps it was just a matter of time until the Internal Revenue Service decided to “outsource” its tax audit and litigation function to a private entity, i.e., a law firm.