
Over the years, we see numerous federal and state tax law changes such as adding or modifying a credit, deduction or exclusion. We sometimes see rate cuts and increased deductions, such as most individuals experienced for 2018 through 2025 with
12/9/24 news releasePer a December 9, 2024 story at the New York State website, Governor Hochul has proposed “sending 8.6 million New Yorkers an Inflation Refund Check as first proposal of 2025 State of the State.”The rationale is that…
P.L. 115-97, An Act to provide for reconciliation pursuant to titles II
and V of the concurrent resolution on the budget for fiscal year 2018, commonly known as the Tax Cuts and Jobs Act (TCJA), was signed into law…
Excerpt: California Tax Expenditure ReportCalifornia’s tax system has a few longstanding weaknesses including volatility in its income tax and a sales tax system designed for the early 20th century economy. Also, like the federal government and other states, California…
Excerpt from Pub 970In May 2024 I had the opportunity to participate in the California Lawyers Association Tax Section’s DC Delegation. Participants identify a tax rule in need of reform and draft a paper explaining why change is needed…
This is a wonderful milestone – 40 years of the collaboration of the Silicon Valley TEI Chapter, the IRS and the SJSU MST Program to reach our 40th Annual TEI-SJSU High Tech Tax Institute. We’ll be back at the…
California AB 3289 was enacted 7/15/24 (Chapter 124). It modifies Revenue & Taxation Section 41 which exists to improve accountability and transparency of the California tax system. Generally, any credit, deduction, exclusion, exemption of other tax benefit enacted is to…
H.R. 8372, Debt Per Taxpayer Information Act, proposes to require the IRS to add this information to the bottom of Form W-2: 1) Total revenue, outlays and deficit of the Federal government; 2) Total gross Federal debt; and 3)…