It is World Cup time. This year, the World Cup marks more than just a celebration of amazing soccer games. It also showcases athletes that are in the middle of international tax battles.
There is a great deal of uncertainty tied to the Tax Cuts and Jobs Act (TCJA). One involves the treatment of chickens. Puns abound when analyzing how the Internal Revenue Service (IRS) will define chickens without running afowl of the new tax law. But all jokes aside, the issue is a serious one for those in the poultry market.
The Internal Revenue Service (IRS) has accused seven restaurant owners of tax evasion. The accusations led to an investigation by the IRS and local state tax authorities of seven businessmen.
There are many advantages to owning a second property. In addition to diversification of your investment portfolio, a second property can allow you to make the most of an area you love.
Minnesota lawmakers are considering a new tax law. The tax char of the Minnesota Senate proposed the law. The law, titled SF 4010, would result in a decrease in the individual income tax and corporate franchise tax by one-tenth of one percent in the event revenues exceed expenditures.
Tax planning strategies can reduce a business’ tax obligations. One example involves keeping certain assets overseas. If the asset returned to the United States, a tax would be due. An asset that remained abroad was not subject to this tax.
President Donald Trump made due on his promise. Congress got a proposed tax law onto his desk before the end of the year. He signed it. Now taxpayers are trying to get a better idea of how the law will impact their tax returns.
The sale of a home is more than just a simple transaction. It is important that home owners are aware that these transactions can have tax implications. Three specific tax implications to watch for include:
The Internal Revenue Service (IRS) was recently accused of discriminatory practices. In Linchpins of Liberty v. United States of America, a group of plaintiffs allege that the agency intentionally delayed the approval of their tax-exempt status.
It can be difficult for entrepreneurs and humanitarians to put together businesses to benefit society. There are a few perks that are present to help encourage these endeavors. One of the main perks: exemption from taxation.