Accounting
How to allocate land vs. building values for investment property
Calculating land and building values for tax purposes is a critical step toward maximizing your available tax deductions from depreciation. Original Article Posted at : https://www.accountingtoday.com/opinion/how-to-allocate-land-vs-building-values-for-investment-property
Read MoreCredit Suisse tax whistleblowers urge U.S. to punish bank
Former Credit Suisse Group AG bankers who blew the whistle on their employer for helping wealthy Americans dodge taxes are now urging U.S. authorities to punish the bank beyond the $2.6 billion it paid as part of a guilty plea seven years ago. Original Article Posted at : https://www.accountingtoday.com/articles/credit-suisse-tax-whistleblowers-urge-u-s-to-punish-bank
Read MoreWhite House says $1,400 payments will begin arriving this month
Households will begin receiving the $1,400 stimulus payments included in the pandemic-relief bill approved by Congress before the end of March, according to the White House. Original Article Posted at : https://www.accountingtoday.com/articles/white-house-says-1-400-payments-will-begin-arriving-this-month
Read MoreTPC Releases A New Distributional Analysis Of The Pandemic Relief Bill
The Tax Policy Center has published a new distributional analysis the American Rescue Plan (ARP) that incorporates several relatively minor tax provisions that were not…
Read MoreDoes the American Rescue Plan Ban State Tax Cuts?
Senate amendments to the American Rescue Plan Act prohibit using any of the $350 billion in State and Local Fiscal Recovery Funds to cut taxes, but many are concerned that states which accept the funds could be prohibited from implementing tax cuts between now and 2024—an astonishing level of federal interference in states’ fiscal affairs.…
Read MoreWhat’s in the $1.9T stimulus bill Biden is about to sign
The legislation includes a massive, one-year expansion to the child tax credit program aimed at curbing child poverty, a change Democrats are already seeking to make permanent. Original Article Posted at : https://www.accountingtoday.com/articles/whats-in-the-1-9t-stimulus-bill-biden-is-about-to-sign
Read MoreHouse sends stimulus bill to Biden, checks to U.S. pocketbooks
President Joe Biden’s $1.9 trillion COVID-19 relief bill cleared its final congressional hurdle Wednesday, with the House passing the bill on an 220 to 211 vote, sending it to the president for his signature. Original Article Posted at : https://www.accountingtoday.com/articles/house-sends-stimulus-bill-to-biden-checks-to-u-s-pocketbooks
Read MoreAICPA testifies to Congress on extending PPP deadline
An American Institute of CPAs official told lawmakers Wednesday why the application timeline for the Paycheck Protection Program should be extended as small businesses continue to face obstacles getting loans. Original Article Posted at : https://www.accountingtoday.com/news/aicpa-testifies-to-congress-on-extending-ppp-deadline
Read MorePreparers divided over postponing filing deadline
Some tax pros say the confusion caused by the pandemic require a delay; others say it should be unnecessary by now. Original Article Posted at : https://www.accountingtoday.com/news/preparers-divided-over-postponing-filing-deadline-for-covid
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