Revenue equality; disclosing crypto; conferences are a waste of time; and different highlights from our favourite tax bloggers.
Finish-of-year questions
- Virginia – U.S. Tax Discuss (
https://us-tax.org/about-this-us-tax-blog/ ): Although the IRS e-filing plan for Mr. and Mrs. Most important Avenue Taxpayer would possibly simplify tax season, can it work for individuals who file U.S. taxes from abroad? - Avalara (
https://www.avalara.com/weblog/en/north-america.html ): Chopping gross sales tax charges sounds nice on your e-commerce purchasers. However is it? - Tax Vox (
https://www.taxpolicycenter.org/taxvox ): So is earnings unequal or what? - Procedurally Taxing (
https://www.taxnotes.com/procedurally-taxing ): One other yr passed by, and the way did the Heart for Taxpayer Rights do? - TaxProf Weblog (
http://taxprof.typepad.com/taxprof_blog/ ): The Biden administration has proposed elevating the tax price on U.S. company earnings to 25, perhaps 28%. The opposition argues that such a rise will chase enterprise offshore and hamper American firms. The issue: Overseas international locations depend on VATs and so can afford to take care of decrease company earnings tax charges. The U.S. doesn’t have a supplemental income like a VAT. The reply? - Nationwide Affiliation of Tax Professionals (
https://weblog.natptax.com/ ): This week’s “You Make the Name” seems at Jesse, 53, who’s been along with his present employer for 30 years. Jesse has $450,000 in his 401(okay), all contributions made with pre-tax {dollars}. Final July, Jesse took a distribution of $40,000 to pay for surgical procedure and medical bills for himself. Will he pay the ten% penalty for early distribution?
Busy busy
Coast to coast
- Withum (
https://www.withum.com/assets/ ): Current state gross sales tax updates embody Iowa revoking a key tech exemption, Pennsylvania serving to nonprofits with registration and Texas having to jigger native taxes on account of redistricting and annexation of communities. - Tax Basis (
https://taxfoundation.org/weblog ): Virginia’s bought itself a brand new plan, particularly with regards to gross sales and earnings tax. - TaxConnex (
https://www.taxconnex.com/blog- ): Finish of yr marks a fantastic time to appropriate the yr’s gross sales tax compliance goofs.
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