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Pflugerville Fire Department to host tax rate hearing as financial projections dip | Community
Financial projections provided to the department showed that without added revenue or service reductions, by 2025, reserve funds will not be able to help balance the fire department's budget. (Community Impact staff)
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Senate Report Slams Land-Conservation Tax-Break Deals - WSJ
"The conservation-easement deduction provides an important tool for the preservation of our environment, but the federal government needs to curtail the aggressiveness that goes on with these syndicated transactions," said the committee's chairman, Sen. Chuck Grassley (R., Iowa).
The report continues the government's pressure on these syndicated conservation easements, which have been particularly popular in the southeastern U.S.
In 2016, the IRS began requiring investors and promoters to disclose the transactions on their tax returns, essentially raising a red flag for audits. Investors claimed $6 billion in deductions related to these easements in 2016 and $6.8 billion in 2017, according to the IRS.
INSIGHT: Small Employers Face Pandemic-Induced 401(k) Plan Challenges
Quite a lot has been going on:
IRS Tax Roundup August 2020
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 17, 2020 – August 21, 2020.
August 19, 2020: The IRS requested comments from large corporate taxpayers currently utilizing the procedures under Revenue Procedure 94-69 to disclose changes in tax positions after the opening of an examination. The IRS is considering obsoleting Revenue Procedure 94-69, which is available to a small group of large corporate taxpayers.
Elizabeth Warren, Treasury Secretary? | Treasury & Risk
China is proposing to resume tests of processes by which U.S. regulators would audit some of its most sensitive companies.
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Although the executive order specifies September 1 as the start date for the payroll tax deferral, most employers are waiting for IRS guidance.
Preparing your treasury department for what lies ahead means knowing what tools are available, and what s best for your organization.
BTAX OnPoint: Final Dividend Deduction Rules Bring Clarity
Human Capital: Elizabeth Warren, Treasury Secretary? | ThinkAdvisor
In Part 2 of this series, we share stories from advisors who studied a non-financial field in college.
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Many taxpayers are receiving IRS notices for nonpayment of taxes that they already paid. Here's what to do, according to CPAs.
Discover how to use the right analytical tools to become more responsive and improve your ability to leverage data to identify business trends going forward.
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