Treasury Secretary Steven Mnuchin has reiterated the Trump administration’s goal of achieving comprehensive tax reform in 2017. “We’re absolutely committed to getting tax reform done this year,” he said in a July 9 televised interview. According to Mnuchin, the White House anticipates the release of its updated tax reform proposal by early September, with an […]

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Senate Republicans may unveil a revised draft of the Better Care Reconciliation Act of 2017 (TAXDAY, 2017/06/23, C.1) by the end of the week, leading to a possible floor vote as early as the week of July 17, according to several reports. In response to a request for confirmation on whether a new bill will […]

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It’s hard to believe, but with the calendar flipping to July, we’re closer to the start of 2018 than the start of 2017. In addition to preparing all those extension returns, firms are starting to think about next tax season. So that’s why now is a great time to take advantage of the various training […]

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A taxpayer that purchased the assets of several Washington businesses was liable for use tax and/or deferred sales tax because there is a conclusive presumption that the selling price does not include retail sales tax. Washington law allows an exception in the case where the seller “advertises” the price as including the tax or that […]

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The personal income tax publication containing the New York City withholding tables and methods has been revised to reflect recently enacted legislation affecting individuals having taxable income under $500,000. The revised withholding tax computation rules may affect employers’ payrolls made on or after July 1, 2017, if they have employees who are subject to New […]

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Illinois budget legislation has been enacted over Gov. Bruce Rauner’s veto that increases corporate and personal income tax rates, creates an income and personal property replacement tax addback for the federal domestic production activities deduction under IRC §199, expands the definition of “unitary business group,” extends the sunset date for the research and development income […]

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