theonlinetaxguy

The following comments were submitted to the Office of the United States Trade Representative regarding docket number USTR-2019-0009. Thank you for the opportunity to provide comments on the Section 301 Investigation. These comments summarize the discriminatory nature of Digital Services Taxes (DSTs) which arise from their design. These comments also provide some details on the policies
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WASHINGTON, DC- Nov 18: Sen. Bernard Sanders, I-Vt., and Barbara Kennelly, of the National Committee … [+] to Preserve Social Security and Medicare, talk to media after a meeting on progressive alternatives to proposals made by the deficit commission. (Photo by Scott J. Ferrell/Congressional Quarterly/Getty Images) CQ-Roll Call, Inc via Getty Images The Democrats probably
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Last week, National Taxpayer Advocate Erin M. Collins released her first report to Congress on the challenges taxpayers have faced related to the coronavirus pandemic, including the tax changes made through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The National Taxpayer Advocate’s findings show that policymakers should prioritize simplicity in the next round
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Key Findings Nineteen states had notable tax changes take effect on July 1, 2020. Indiana had the lone corporate income tax change, with the rate decreasing from 5.5 to 5.25 percent. Two states, Louisiana and Mississippi, began requiring marketplace facilitators to collect sales and use taxes. Illinois now requires remote sellers to collect state and
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Democratic leaders urge Sen. McConnell to negotiate next relief bill, ASAP. Senate Democratic leader Chuck Schumer and House Speaker Nancy Pelosi have demanded that Senate Majority Leader Mitch McConnell take up the House-passed HEROES act or other coronavirus legislation in the wake of the dramatic surge in COVID-19 cases and deaths.  McConnell says he won’t
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Sentence stayed; stealing on multiple levels; the loot you took; and other highlights of recent tax cases. Milaca, Minnesota: Preparer Cindy Halgren has been sentenced to up to 23 months in prison for preparing and filing fraudulent returns and failing to pay individual income tax. In March, Halgren pleaded guilty to 15 tax-related felonies consisting
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Getty As the pandemic surges on, Congress is increasingly pressing for a new stimulus bill.  Rumored topics include, among others, liability reform, health care, stimulus checks, and tax relief.  While everyone and their legislator is making a wish list for pet provisions, it seems an opportune time for a modest proposal:  Bring back miscellaneous itemized deductions—they were unceremoniously
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Key Findings Nineteen states had notable tax changes take effect on July 1, 2020. Indiana had the lone corporate income tax change, with the rate decreasing from 5.5 to 5.25 percent. Two states, Louisiana and Mississippi, began requiring marketplace facilitators to collect sales and use taxes. Illinois now requires remote sellers to collect state and
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Joe Biden and Donald Trump Ron Adar | Echoes Wire | Barcroft Media via Getty Images; Mandel Ngan | AFP | Getty Images Goldman Sachs is warning that the upcoming presidential election could see delayed results, and is therefore recommending that clients hedge their market bets through December in anticipation of heightened volatility through November.
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