IRS TO AMEND GIFT AND ESTATE TAX EXCLUSION

IRS to amend gift and estate tax exclusion. The issued proposed regulations that would provide an exception to the anti-clawback special rule that preserves the benefits of the temporarily higher gift and estate basic exclusion amount. The regulations would apply to certain transfers that are includible, or treated as includible, in a decedent’s gross estate […]

INDEPENDENT CONTRACTOR OR EMPLOYEE

Independent contractor or employee. This issue comes up with companies that we have dealt with over the last 32 years. Often, companies incorrectly classify an employee as an independent contractor, hoping to avoid payroll taxes and health insurance obligations. This is trend has swept through the ranks of corporate America over the last 30 years […]

YEAR END BILL HAS TAX PROVISIONS

Year end bill has tax provisions. The federal government spending bill passed by Congress repeals three health care taxes that were originally enacted as part of 2010 health care reform legislation, makes many changes to retirement plan rules, extends several expired tax provisions, provides disaster relief, and repeals the provision that taxed exempt organizations when […]

TEN WORST TAX POLICY IDEAS OF 2019

Ten worst tax policy ideas of 2019. It is that time again. TaxVox has whittled down its list of the year’s bad tax ideas to 10, here they are. The government shutdown. The federal government started 2019 largely closed for business, as Congress and President Trump haggled over funding for his Mexican border wall. The […]