The break—for Foreign-Derived Intangible Income, or FDII—will let U.S. companies’ domestic operations get a 13.
125% tax rate on some income, instead of the general 21% corporate tax rate. Congress created FDII to encourage companies to put intellectual property in the U.S., and the break could nudge corporations toward serving...
A senior Treasury official said, 'It is part of a comprehensive regime.' Regime? Is that really the word he wants to use under this Administration? Freudian slip.
Shocker. Government throwing an extra bone to Boeing. The special interest is just so egregious at this point.
This is Great News...hitting the books for a Resolution is Very Admirable!!!!!
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Countries are seeking help to deal with corporate tax avoidanceJamaica still has a piracy problem. Today's buccaneers are international firms As long as there is ONE place on earth to dodge taxes, some of them will. And even if there isn't as long as there is one politician or regulator to bribe most attempts to stop the subversion will be futile. The sun will be a piece of coal before we have only honest politicians
Source: TheEconomist - 🏆 6. / 92 Read more »
Limit on state and local tax deduction will hit 11 million taxpayers, Treasury findsThe estimate is the government's first on the loss of the popular SALT deduction in the Republican tax bill. The report also showed that Treasury Secretary Steven Mnuchin and other officials prioritized halting efforts by states such as California to help residents circumvent it. milenaac What happened to 'dynamic scoring' which Treasury Secretary, Stephen Mnuchin, assured everyone that tax cuts would pay for themselves?!🤔 Good
Source: latimes - 🏆 11. / 82 Read more »
Treasury Secretary Mnuchin says tax refunds are now back at last year's levelTreasury Secretary Steven Mnuchin sought to quell concerns about lower tax refunds this tax season, offering new data showing a recent surge in refund amounts. 🤔 He is a bad liar Even though the media spent the last week shit-talking Trump because refunds were down... which also ignores the fact that your refund is not indicative of total tax paid, but who cares about facts.
Source: CNBC - 🏆 12. / 72 Read more »
Treasury rejects claims it manipulated tax withholdingThe Treasury Department has strongly rejected complaints by congressional Democrats that it manipulated tax withholding last year in order to boost workers’ paychecks ahead of the midterm elections Alas, but according to SpeakerRyan it ended up to be $1.50 and he quickly pulled back. SenRonJohnson js_politics Who ya gonna believe? Yes yes just like the Fed raised interest rates (to slow the economy down) right before the mid-terms too
Source: politico - 🏆 381. / 59 Read more »
In undisclosed trip, Trump’s Treasury breaks with precedent on transparency“It’s both unusual and seemed unnecessary,” a Bush administration official said. BOMBSHELL! TRUMP THE RACIST CAUGHT ON CAMERA RECEIVING AN AWARD FOR A LIFETIME OF HELPING THE BLACK COMMUNITY! Paul 'Big Paul' Castellano, Gambino Family boss. Aniello 'Mr. Neil' Dellacroce, Gambino Family underboss. Anthony 'Fat Tony' Salerno, Genovese front boss. Philip 'Rusty' Rastelli, Bonanno Family boss. Famous mobsters with crooked lawyers & witnesses that were easily convicted 🙄 we get it - he’s crooked. I think it’ll take another dead journalist for the media to start keeping it real with us and not pretending they’re inhuman objects just reporting facts.
Source: washingtonpost - 🏆 95. / 72 Read more »
Here are 6 tax breaks you'll lose on your 2018 returnFewer people are likely to itemize deductions on their 2018 tax returns, in light of changes from the Tax Cuts and Jobs Act. Here are six deductions that are off the table for many filers.
Source: CNBC - 🏆 12. / 72 Read more »
Expired tax breaks sparking bipartisan backlashWhen Congress overhauled the tax code in 2017, they allowed a number of temporary tax breaks to expire. Constituent backlash is putting pressure on both sides of the aisle. CNBC's Ylan Mui reports. 3 out of 4 are no brainers...NASCAR and race Horse? Are you kidding me?!
Source: CNBC - 🏆 12. / 72 Read more »
How Accountants Break the Bad News About Tax Refunds: With Chocolate and TissuesTax preparers are stocking up on supplies to comfort unhappy clients surprised by lower refunds this year. ‘We’ve talked about offering ice cream, or maybe even beer and wine.’ Election is now counting Wasn’t the GOP tax plan intended to benefit the working class? Wasn’t the average tax liability supposed to decrease by $4,000? Any accountant worth his degree would counsel his clients that a refund is simply getting back that interest-free loan you gave the government all of last year. They would further counsel them to adjust with holding to minimize or eliminate refunds altogether.
Source: WSJ - 🏆 98. / 63 Read more »
Lawmakers want to restore these 3 tax breaksWhether you paid college tuition in 2018 or you coughed up money for mortgage insurance, you should keep an eye on this package of tax breaks that are up for renewal. 3Ta Mortgage insurance is a choice and shouldn't be subsidized by all taxpayers. As for college tuition n fees, well very few people go to college, less than 40% of HS grads & of those only about 15% graduate. Should we subsidize partying at college? The Dems want everything free. so I just did my taxes...single/no dependents/rent....2900 total refund....last year I paid almost 2000 WHEN I filled on top of the nearly 5500 deducted from my weekly checks....Id say it was a better year
Source: CNBC - 🏆 12. / 72 Read more »
Average tax refund edges up, giving GOP a political breakThe IRS reported that the average tax refund is now up 1.3 percent, a bounce back that should come as a relief to Republican lawmakers defending their signature tax overhaul So I should refile 😳 1.3 percent? That's why they had to give complete tax breaks to millionaires? Ohhhhhkaaaaayyyy
Source: politico - 🏆 381. / 59 Read more »