Accounting
People & firms on the move: Armanino achieves B Corporation certification
Citrin Cooperman co-founder Niles Citrin announces retirement; BKD names regional managing partner; and more CPA news. ]] Original Article Posted at : https://www.accountingtoday.com/list/people-firms-on-the-move-armanino-achieves-b-corporation-certification
Read MorePeople & firms on the move: Armanino achieves B Corp certification
Citrin Cooperman co-founder Niles Citrin announces retirement; BKD names regional managing partner; and more CPA news. ]] Original Article Posted at : https://www.accountingtoday.com/list/people-firms-on-the-move-armanino-achieves-b-corporation-certification
Read MoreOECD Pillar 2 Provides A Good Model for Biden US Worldwide Tax
The Biden Administration is taking steps to develop a new, global minimum tax on multinational corporations. The initiative, led by Treasury Secretary Janet Yellen, follows…
Read MoreRisky trading targeted in Democrat proposal for financial transaction tax
Investors would face a 0.1 percent tax on each sale of stocks, bonds and derivatives under a Democrat-led proposal aimed at curbing risky trading behaviors. ]] Original Article Posted at : https://www.accountingtoday.com/articles/risky-trading-targeted-in-democrat-proposal-for-financial-transaction-tax
Read MoreTreasury clears states to cut taxes — but not with stimulus
The Biden administration said in a response to concerns raised by Republicans that state governments accepting pandemic-relief money from Washington are allowed to cut taxes, but only if they don’t use the federal aid to offset those reductions. ]] Original Article Posted at : https://www.accountingtoday.com/articles/treasury-clears-states-to-cut-taxes-but-not-with-stimulus
Read MoreScoping out Biden’s legislative and tax agenda
Experts read the tea leaves in the American Rescue Plan and other early hints of the administration’s revenue proposals. ]] Original Article Posted at : https://www.accountingtoday.com/news/scoping-out-bidens-legislative-and-tax-agenda
Read MoreMaking the Expanded Child Tax Credit Permanent Would Cost Nearly $1.6 Trillion
Families with children will see a significant increase in their maximum child tax credit (CTC) in 2021 thanks to the American Rescue Plan Act (ARPA) expanding child-related tax benefits. President Biden is now exploring how to make the ARPA’s temporary expansion of the CTC permanent. Whether and how lawmakers choose to finance a permanent expansion…
Read MoreIRS to automatically process refunds on jobless-benefit payments
The IRS will automatically process refunds for individuals who paid taxes on their unemployment benefits before Congress passed a law making those payments tax-free, Commissioner Chuck Rettig said. ]] Original Article Posted at : https://www.accountingtoday.com/articles/irs-to-automatically-process-refunds-on-jobless-benefit-payments
Read MoreTCJA Is Not GILTI of Offshoring
Democratic members of Congress are interested in changing tax rules for foreign earnings of U.S. multinational companies. They claim the current rules incentivize U.S. businesses to outsource and offshore what would otherwise be U.S. jobs and investment. However, closer inspection shows these claims do not fit with the way the rules have been working. Some…
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