Accounting
Will Pennsylvania Be the First State to Motor Past the Gas Tax?
After Congress passed the American Rescue Plan Act last week, infrastructure spending—and its funding—is taking center stage. For example, the federal excise tax rate on motor fuels has not been changed since 1993, and the tax has not raised sufficient revenue to cover expenditures since 2008. Several states also are in this position and are…
Read MoreBig Brother at work, and other tech stories you may have missed
From businesses monitoring remote workers to the impending end of Skype for Business, here are 10 developments in technology from the past month. ]] Original Article Posted at : https://www.accountingtoday.com/list/big-brother-at-work-and-other-tech-stories-you-may-have-missed
Read MoreTax Subsidies for R&D Spending and Patent Boxes in OECD Countries
Table of Contents Key Findings Introduction R&D Tax Incentives for Innovation R&D Tax Subsidies for Innovation in OECD Countries — Tax Preferences for R&D Expenses — Measuring Tax Subsidies for R&D Spending — Patent Boxes in OECD Countries The Impacts of Tax Preferences on Innovation — Cross-border Shifting and Beggar-Thy-Neighbor Effects A Neutral Tax Policy…
Read MoreIRS adds tax forms and info in Spanish, other languages
The Internal Revenue Service posted a Spanish version of its Form 1040 and instructions Tuesday and made available publications and online information in other languages. ]] Original Article Posted at : https://www.accountingtoday.com/news/irs-adds-tax-forms-and-info-in-spanish-other-languages
Read MoreHow GILTI Are U.S. Industries?
The Tax Cuts and Jobs Act (TCJA) introduced several new rules for taxing the foreign profits of U.S. multinationals, including rules related to Global Intangible Low Tax Income (GILTI) that result in a minimum tax on foreign profits. Both the Biden campaign and some Democratic members of Congress have recommended changes to GILTI, but before…
Read MoreLease workflow startup secures seed funding
Trullion’s software uses artificial intelligence to read unstructured data and translate it into real-time financial reports. ]] Original Article Posted at : https://www.accountingtoday.com/news/lease-accounting-workflow-startup-trullion-secures-seed-funding
Read MoreThe clock is ticking on a new unemployment tax benefit
For those with less than $150,000 in adjusted gross income who collected unemployment benefits this past year, the COVID relief bill allows them to receive up to $10,200 of those benefits tax-free. ]] Original Article Posted at : https://www.accountingtoday.com/opinion/the-clock-is-ticking-on-a-new-unemployment-tax-benefit
Read MoreIn the blogs: Nice explanations
An unacknowledged credit; potential estate tax changes; an ongoing EIN mess; and other highlights from our favorite tax bloggers. ]] Original Article Posted at : https://www.accountingtoday.com/opinion/in-the-blogs-nice-explanations
Read MoreTax Policy Improvements Needed to Help Industries through the Semiconductor Shortage
The Biden administration has responded to recent reports of a global semiconductor shortage with an executive order calling for a 100-day review of supply chains and $37 billion to boost semiconductor manufacturing. Instead of implementing a stopgap industrial policy that picks winners and losers, lawmakers should consider broad improvements to the U.S. tax system that…
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