Fixing the SALT $10,000 Cap
San Jose State University Blogs
Latest from San Jose State University
Latest Guidance on SALT Cap and Donations + Notice 2019-12 Safe Harbor
Growing U.S. Gig Workforce Exposes Outdated Tax System
For the past several years I’ve spent a lot of time on tax issues – federal, state and local, for the gig economy. While at the ABA Tax Section meeting in DC this month, I co-presented on this topic and participated in a podcast on the topic for Bloomberg Tax. Here is the link.
A few reform suggestions I have:
Remove the de minimis filing threshold for From 1099-K for third-party settlement organizations such…
TCJA Guidance Report from TIGTA
On May 14, TIGTA released a report, Status of the Office of Chief Counsel’s Issuance of TCJA Guidance. It reviewed the process for issuing guidance on the 100+ provisions of the Tax Cuts and Jobs Act (P.L. 115-97; 12/22/17). It also lists the guidance issued through the end of March (83 items) and what is expected from that date (95 items). A good amount of this includes Treasury Decisions, meaning final regs…
12th Anniversary of This Blog
Taxpayer First Act and IRS Free File Program
H.R. 1957, the Taxpayer First Act, passed in the House on April 9, 2019, includes several provisions intended to improve IRS operations and taxpayer services. One that has received a good amount of media attention is a prohibition that the IRS can’t create its own tax prep and filing software. When I first heard that I was puzzled as I did not see that prohibition in the bill.
But, in looking more carefully, I…
Tax, Tokens and the Blockchain – H.R. 2144 of 116th Congress
How about making April 30th Celebrating Taxpayers Day?
Tax Reform Ideas to Reflect How Small Businesses Operate in the Modern World
The Tax Cuts and Jobs Act brought several improvements for small businesses, most notably, favorable accounting methods such as use of the cash method and not having to deal with the Unicap rules. The AICPA Tax Section recently posted a position paper noting 13 more changes that would further help modernize the Code to reflect how small businesses operate. Some of these would more completely simplify what Congress started with the TCJA.
For example, the…
2018 Law Change Benefits State Tax Filings of Servicemember Spouses
Well, I missed this one until today in working on more tax update materials for presentations. On December 31, 2018, P.L. 115,407, Veterans Benefits and Transition Act of 2018, was signed into law. The summary on the congressional website for this bill notes it deals with headstones, markers, and cemeteries. But, it deals with a lot more. Relevant for state tax purposes is Section 302 of the Act. It provides:“For any taxable year of…