Legislation

Congress passes tax reform

The House of Representatives reapproved tax reform legislation on Wednesday, sending the bill to President Donald Trump for his signature.

Hurricane relief enacted

The Disaster Tax Relief and Airport and Airway Extension Act of 2017 provides tax relief to victims of Hurricanes Harvey, Irma, and Maria.

Prize Money Exempt From Federal Tax

The United States Appreciation for Olympians and Paralympians Act of 2016 excludes the value of medals or prize money received from the United States Olympic Committee.

Tax Extenders Are Enacted

The Consolidated Appropriations Act extends an extensive list of expired tax provisions, some permanently, some for five years, and many for two years, through 2016.

President’s Budget Proposes Many Tax Changes

In addition to a proposed spending blueprint for the government, President Barack Obama’s proposed FY 2017 federal budget contains a wide variety of tax law changes that would affect individuals and businesses.

Congress Enacts Last-Minute Extenders for 2014

The Senate passed a bill to retroactively extend more than 50 expired tax provisions through 2014, by a vote of 76-16 on the evening of Dec. 16. The extender bill passed the House of Representatives on Dec. 3, and was signed by President Barack Obama on Dec. 19.

Newsletter Articles

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.