Accounting
Maryland’s Digital Advertising Tax Is Unworkably Vague
Key Findings In addition to its economic impact on Maryland businesses and the likelihood of serious legal challenges, Maryland’s proposed digital advertising tax is incredibly vague on vital definitions, creating uncertainty about where revenue is sourced and when it is subject to the tax. The legislation’s ambiguity could lead to double taxation, with multiple entities…
Read MoreIn the blogs: Into the weeds
CP21Cs and long memories; all smiles; Romney’s proposal; and other highlights from our favorite tax bloggers. Original Article Posted at : https://www.accountingtoday.com/opinion/in-the-blogs-into-the-weeds
Read MorePossible pain of entity choice under the PPP
The effect of S corp status on the emergency loans highlights the impact of a business’ form. Original Article Posted at : https://www.accountingtoday.com/news/possible-pain-of-entity-choice-under-the-ppp
Read MoreTexas Society of CPAs announces 2020-21 scholarship recipients
Fifty-one students across the state were awarded academic accounting scholarships this year, worth approximately $136,000. Original Article Posted at : https://www.accountingtoday.com/news/texas-society-of-cpas-announces-2020-21-scholarship-recipients
Read MoreDemocrats reintroduce bill with tax breaks for green energy
The GREEN Act would encourage residential investments in green energy and energy efficiency, and incentivize greater adoption of zero-emission vehicles, among other things. Original Article Posted at : https://www.accountingtoday.com/news/democrats-reintroduce-bill-to-provide-tax-breaks-for-green-energy
Read MoreLawmakers request help for taxpayers victimized by unemployment fraud
Republicans are asking the Biden administration to assist taxpayers who are receiving tax forms for unemployment benefits claimed by identity thieves. Original Article Posted at : https://www.accountingtoday.com/news/lawmakers-request-help-for-taxpayers-victimized-by-unemployment-fraud
Read MoreAdvancing Child Tax Credit Payments Makes Good Sense, But the IRS Will Need Funds to Pull It Off.
The plan to expand the Child Tax Credit (CTC) proposed yesterday by House Ways & Means Committee Democrats included an important new feature—the IRS would…
Read MoreTax-A-Rama in Maryland
The potential override of Gov. Larry Hogan’s (R) veto of a digital advertising tax (HB732) looms large over the current legislative session in Maryland, though it is only one of many tax proposals under consideration in the state. House Bill 732 passed with a veto-proof majority in 2020, and, if lawmakers override the governor’s veto,…
Read MoreAvoid cruising because your firm may be headed for a bruising
Many firms are struggling to digest and integrate mergers and are finding it difficult to make things happen. Original Article Posted at : https://www.accountingtoday.com/opinion/avoid-cruising-because-your-firm-may-be-headed-for-a-bruising
Read More