The Tax Cuts and Jobs Act became the law of the land two years ago. It represents the largest overhaul of the U.S. tax system since the Reagan presidency – a longtime goal for Republicans.
This tax reform came with a lot of promises, like higher economic growth, a simpler code, lower rates for middle-class families, and restored American competitiveness on the global stage. Two years in, every one of those promises has been kept. The United States' economy is reenergized and on stronger footing thanks in large part to this landmark legislation.
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Challenging Tax Cuts and Jobs Act Regulations and IRS Guidance - Lexology
The Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the U.S. international tax system. Along with those changes came substantial taxpayer uncertainty as to how the TCJA’s rules apply to their unique circumstances. That uncertainty continues to affect current tax return filings and may significantly impact a company’s financial reporting, potentially requiring taxpayers to establish reserves and make public disclosures regarding issues created by the TCJA.
Airbnb to be the first target of digital tax regulations from Poland
Poland: Tadeuz Koscinski, the newly instated Polish finance minister, announced today plans to implement tax on Airbnb operators in Poland.
The latest in plans by European leaders to understand and regulate Airbnb, FT reports that Koscinski seeks to tax not only operators, but the company itself.
"If we're going to be making sure that anyone who is renting out their flats in the sharing economy pay their fair share of tax, then also the people they're paying — Airbnb are part of the value chain — they should be paying as well," said Koscinski in a London interview. The minister advocates a tax payment in order to ensure fair market competition across different types of business.
Can taxes really be as easy as a model volcano? - Deseret News
Rob Bishop last week held a press conference to announce he is not running for governor. If we're going to hear from everyone who isn't running, this could take a while.
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When the House managers carried the articles of impeachment to the Senate last week, the sergeant of arms announced, with great ceremony, "Hear ye! Hear ye! Hear ye! All persons are commanded to keep silent, on pain of imprisonment." So … does the Capitol basement contain a stockade for all the chatty senators? Should we check to see if Sen. Blabbermouth is still there from the trial of Andrew Johnson?
Many things are taking place:
Duke Realty Corporation (NYSE: DRE) Announces the Income Tax Characteristics of its 2019 Common
INDIANAPOLIS, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Duke Realty Corporation ( DRE ) announces the income tax characteristics of its 2019 common share dividends. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Duke Realty Corporation's dividends.
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For corporate shareholders, the Section 291(a) preference item is 1.7697% of total dividend distributions. The company did not incur any foreign taxes in 2019. For purposes of satisfying U.S.
What price will the developing world pay for Brexit? | UK News | Al Jazeera
In his new year speech, the United Kingdom 's Prime Minister Boris Johnson said the upcoming decade would be one of "prosperity and opportunity" for the United Kingdom.
The idea is that once the UK leaves the European Union on January 31, the country will be free to pursue trade deals that will be better for the country, and also to enforce its own regulations, away from the old shackles of Brussels bureaucracy.
Britain will be able to turn away from looking just towards Europe, and will be able to look out towards the world - or, at least, that is the picture being painted by the Brexiteers. The problem is, as campaigners are pointing out, the UK's future economic moves may have a terrible impact on the developing world.
The UK may limit DAC6 disclosures after Brexit | International Tax Review
Changing the scope of DAC6 rules, requiring intermediaries such as law firms and in-house tax advisors to report certain cross-border tax arrangements, is unlikely within the 11-month timeframe that the UK has to negotiate a trade deal with the EU after January 31 2020. While the UK will widely continue to follow EU regulations, tax professionals see DAC6 targets as too broad to be effective and expect changes in scope in the long-term.
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"This is impractical and tax authorities know it too," said Sandy Bhogal, partner at Gibson, Dunn, and Crutcher. "There is a monetary and time cost on clients and tax authorities who are trying to deal with the large paper trail from complying with the regime."
Dual Enrollment Restrictions Designed to Limit Cost Growth - Georgia Budget and Policy Institute
Dual Enrollment acts as a crucial onramp to college for more than 50,000 Georgia students. As Dual Enrollment is set up in Georgia, the state pays colleges fixed amounts for tuition, mandatory fees and books so that high school students can take college courses without having to pay for them. Currently, 9 th -12 th graders can participate, and individual high schools and colleges determine available courses and eligibility requirements.
When the General Assembly reformed Dual Enrollment in 2015, Georgia lagged the nation in Dual Enrollment participation. [1] Between FY 2016 and FY 2019, costs doubled as more students participated, growing from $49 million to $105 million. Growth ramped up quickly but is slowing down. From 2016 to 2017, Dual Enrollment in the university system grew 30 percent; three years later annual change is down to 7 percent.
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