theonlinetaxguy

On April 3, House Ways and Means Committee Chair Richard Neal wrote to the IRS requesting six years of President Trump’s  personal income tax returns as well as the returns for eight of Trump’s more than 500 business entities. Neal wants to determine whether the IRS is auditing the President in a fair and impartial manner. And
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Tech giant Apple and Qualcomm settled a legal dispute over royalties and patents on Tuesday and it has Wall Street analysts buzzing over the chipmaker’s prospects moving forward. Analysts at Stifel, J.P. Morgan and Evercore ISI all upgraded Qualcomm on the news. Mizuho Securities, meanwhile, hiked its price target on Qualcomm to $82 per share
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Another one in the books; bias in the TCJA; talking basis; and other highlights from our favorite tax bloggers. School for scandal Boyum Barenscheer (https://myboyum.com/blog/): In its 2018 Report to the Nations on Occupational Fraud and Abuse, the Association of Certified Fraud Examiners reported that owners and executives accounted for only 19 percent of all
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J.B. Hunt Transport Services‘ downbeat earnings call on Monday should put to rest any ideas that the economy is too strong and that the Federal Reserve should tighten interest rates again, CNBC’s Jim Cramer said Tuesday. The trucking and transportation company’s stock sank nearly 5% after missing Wall Street’s expectations and blaming low volume on
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Key Findings Comparisons of capital gains tax rates and tax rates on labor income should factor in all the layers of taxes that apply to capital gains. The tax treatment of capital income, such as capital gains, is often viewed as tax-advantaged. However, capital gains taxes place a double-tax on corporate income, and taxpayers have
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“Anticipation is makin’ me late… keepin’ me waitin’…” The IRS has until April 23 to provide President Trump’s tax returns to the House Ways & Means Committee. Panel chairman Richard Neal wrote a second letter to the IRS Commissioner Charles Rettig requesting the past six years of the president’s returns. He wrote that Treasury’s concerns
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North Carolina Senate Finance Committee Chairs Ralph Hise (R), Paul Newton (R), and Jerry W. Tillman (R) this month introduced Senate Bill 622, the Tax Reduction Act of 2019. This bill includes several tax changes, but the most notable proposed structural improvement is a provision to reduce and cap the state’s franchise tax. North Carolina
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The OECD recently released the 2018 results of their “Risks that Matter Survey.” This survey covers a broad range of policy issues that people face in countries around the world. The survey covered more than 22,000 people aged 18 to 70 years old in 21 OECD countries. Several of the survey questions elicited responses on
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