Tax Legislation & Proposals

Gig bill disguised as freedom bill. Most all of the Gig workers, especially those who are driving Uber, Lyft, Door Dash, are people who are not making much per hour, after you determine the expenses and wear and tear on the vehicle they operate... Read More

Gig work tax bill and status at the IRS. A bill was introduced into the U.S. House of Representatives, that would amend the current labor law in the United States, to establish a new classification for gig workers, denying them the right to a m... Read More

Secure Act and minimum distributions. When the Covid pandemic hit, thousands of Americans took money out of retirement accounts to get by and to help children and granchildren get by. In response, the Congress passed an act, and the IRS put it ... Read More

Minimum distributions secure act. Due to the Covid pandemic and hundreds of thousands takin gout money from retirement accounts to get by, changes to retirement accounts were announced by Congress. Prior to the SECURE Act, individuals with an IRA,... Read More

Required distributions under secure act. During the Covid pandemic, thousands of individuals drew down retirement accounts, just to get by. Because of the fact that those retirees now had lower amounts for retirement, Congress enacted legislati... Read More

Secure Act securing your taxes. The Secure Act was the brainchild of those who saw the wrecked retirement landscape in America, due to the Covid pandemic. Millions of households dipped into IRS retirement 401 (k)s to get by, and that not only l... Read More

Proposal to raise revenue with more taxes. After President Biden's "Build Back Better" went down in flames due to Sen. Manchin's holdout vote, it seems like another approach is in the works. President Biden has proposed a massive budget that is... Read More

Infrastructure investment act of 2021. In the last two to three years, most of the bills coming out of Congress have been about the Covid pandemic, and efforts to help the economy along during the crisis. Going back to the Trump administration,... Read More

Basis required in year of discharge. This Tax Court case highlights the case of Richard Hussey, who purchased investment properties in 2009. To do so, he assumed approximately $1.7 million in outstanding loans. He sold 16 of the properties in 2... Read More

Infrastructure investment and jobs act. The tax provisions of Act take effect as of the signing of the bill on November 15, 2021. One of the provisions are changes to the Deadlines in the Case of Taxpayers who are impacted by Federally Declared... Read More