David Stewart : Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International . This week: 2020 foresight.
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Jeremy Scott : 2019 was not a banner year for tax legislation. Congress obviously had its focus elsewhere and a lot of the vehicles for moving tax law did not materialize until the very end of the year. Basically, we spent a lot of the year talking about tax extenders, tax returns, retirement legislation, and presidential-type campaign tax plans. Nothing really happened until the very end.
Many things are taking place:
China to strengthen tax and fee cut efforts in 2020 - Xinhua | English.news.cn
BEIJING, Jan. 6 (Xinhua) -- China will take further steps in 2020 to consolidate and expand its achievements in cutting taxes and fees, according to the State Taxation Administration.
More efforts will be made to further optimize the tax business environment, improve tax administration efficiency, and deepen international tax cooperation, the authority said on its website after the national tax work conference held on Monday.
TaxBit Raises $5 Million In Funding to Automate Cryptocurrency Tax Compliance
TaxBit, founded by CPAs, tax attorneys, and software developers, has a mission to enable widespread cryptocurrency adoption by automating the regulatory hurdle of tax compliance. Austin Woodward , CEO and Founder of TaxBit (as well as CPA) says, "In such a highly regulated space with so many complexities, TaxBit is needed to remove the burden of proper cryptocurrency tax reporting from the shoulders of crypto users, exchanges, and merchants.
Salt Lake City -based TaxBit launched its consumer product in January 2019 and has since helped thousands of cryptocurrency users automate their taxes. The company's consumer product is often referred to as the "TurboTax of crypto", as users can easily use TaxBit's do-it-yourself platform to produce all of their required crypto tax forms in minutes.
Americans for Prosperity – West Virginia discusses licensure, regulations, & tax
Jason Huffman, the State Director for the West Virginia Chapter of Americans for Prosperity, talks about the issues they will be advocating about in the upcoming legislative session, including licensure, regulations, and comprehensive tax reform.
CHARLESTON, W.Va. (WOWK) — On this week's episode, we take a look at some of the issues that are important to and will be pushed by groups in the 2020 West Virginia Legislative session.
WOWK 13 News Digital Reporter Erin Noon talks about her experience covering a caravan that traveled from West Virginia to Canada to buy cheaper insulin.
And here's another article:
How Secure Act impacts inherited IRAs - The Washington Post
I've been hearing from a lot of readers who are concerned about a new rule under the Secure Act that ushers in significant changes to retirement savings starting in 2020.
The Secure Act, which stands for Setting Every Community Up for Retirement Enhancement, is intended to make it easier for people to fund their retirement with their own savings.
However, chief among the changes is a provision that affects IRAs or 401(k) accounts left to beneficiaries. As part of their estate planning, people are allowed to pass along whatever is left in their tax-advantaged retirement accounts.
INSIGHT: Highlights of the Final Opportunity Zone Regulations
Forrest Milder walks us through highlights of the recently finalized Opportunity Zone regulations under tax code Section 1400Z-2. He praises the IRS for including a great deal of flexibility in these regulations, but he also cautions that many technical and transition rules will require very careful reading and application.
By now, you've seen that the IRS published final regulations on Opportunity Zones on Dec. 19, 2019. Between the preamble and the actual regulations, the publication amounts to 544 pages. This means that it will continue to take some time for tax advisors to make their way through all of the ins and outs, especially when it comes to issues left unaddressed or "under-addressed." Here are some noteworthy items in the final regulations:
Digital Taxes, Big Tech In Regulatory Focus | PYMNTS.com
As 2020 dawns, regulators are continuing to focus on taxes and possible anti-competitive behavior on the part of tech's marquee names.
Russian regulators are seemingly taking aim at larger U.S. tech firms, placing laws on the books that would restrict content offered by those companies.
As reported last week, hardware spanning computers and mobile devices sold in Russia will be required to have Russian software pre-installed beginning July 1, according to The Hollywood Reporter.
RiverNorth Opportunistic Municipal Income Fund, Inc.
Monthly distributions from the Fund are generally exempt from regular Federal income taxes. Unless otherwise stated in the Fund's objectives, monthly distributions of the Fund may be subject to the Federal Alternative Minimum Tax for some shareholders. RiverNorth does not provide tax advice; consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.
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