Senate Republicans continue discussions on their healthcare bill, the Better Care Reconciliation Act of 2017 (BCRA), which would repeal and replace, in part, the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148) and related taxes. Senate GOP leadership chose to delay debate and a vote on the bill during the week of June 26 […]

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The House Appropriations Financial Services and General Government Subcommittee held a June 29 markup of the fiscal year (FY) 2018 government appropriations bill that was released by the full committee in draft form the day before. The federal government budget bill, approved by voice vote in subcommittee, proposes reducing IRS funding by $149 million from […]

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The 2017 Mississippi Second Amendment Weekend (MSAW) sales tax holiday will take place between 12:01 a.m. Friday, August 25, 2017, and 12:00 midnight, Sunday, August 27, 2017. During this holiday period, sales tax is not due on the sale of firearms, ammunition, and certain hunting supplies. Exempt hunting supplies are limited to archery equipment, firearm […]

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The Kansas Department of Revenue has issued a notice explaining that the personal income withholding tax tables have been amended as a result of recently enacted legislation that increased personal income tax rates retroactively for tax year 2017, and further increased them for tax year 2018 and later years (TAXDAY, 2017/06/09, S.7). The updated withholding […]

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The maximum number of months that the Franchise Tax Board (FTB) may grant as an automatic extension of time for filing California partnership returns is increased from six months to seven months, applicable to returns required to be filed for taxable years beginning on or after January 1, 2017. This authorizes the FTB to extend […]

The post California ~ Corporate, Personal Income Taxes: Maximum Extension Period for Filing Partnership Returns Increased appeared first on Tax & Accounting Blog.

A self-described analyst of financial institutions, who learned of a corporate taxpayer’s claimed tax abuse from publicly available sources, was not entitled to proceed with his whistleblower case anonymously. The individual failed to make a sufficient fact-specific case for anonymity. Unlike whistleblower claimants who were granted anonymity, the individual did not make a plausible claim […]

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