On April 26, 2017, the Trump Administration released its long-awaited tax plan. What finally emerged was a one-page document of less than 300 words with less detail than had been included in Trump’s campaign tax proposals. Because of its brevity, it should not be assumed that something that has been omitted has been dropped from […]
Senior Administration officials outlined President Trump’s tax proposals at a news conference in Washington, D.C. on April 26. “Today we are putting out core principles,” Treasury Secretary Steven Mnunchin told reporters. Mnunchin and National Economic Council Director Gary Cohn said that the proposals, which include reducing individual and businesses taxes along with abolishing the federal […]
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Tax professionals and taxpayers alike should be aware of big changes on the tax horizon, since they can avoid pitfalls later by paying attention to these changes. Learn more about tax issues worth watching in 2016 by clicking on the green arrows. For additional information, access the Wolters Kluwer Tax Briefing: 2016 Year-End Tax Planning.
Congress, on June 24, 2015, passed the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (HR 2146). The legislation permits penalty-free withdrawals from qualified retirement plans for certain federal law enforcement officers, federal firefighters, customs and border protection officers, and air traffic controllers Congress, on June 25, 2015, passed the Trade Preferences Extension Act […]
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The House, on June 18, 2015 passed the Trade Priorities and Accountability bill of 2015 (HR2146) by a vote of 218 to 208. The tax provision in the legislation would allow federal law enforcement officers, fire fighters and air traffic controllers to make penalty-free withdrawals from governmental plans after age 50. The tax provision is […]
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The House, on June 18, 2015, passed the Protect Medical Innovation Bill of 2015 (HR 160) by a vote of 280 to 140. The legislation would repeal the medical device excise tax, originally enacted as part of the revenue sources for the Patient Protection and Affordable Care Act. No alternative revenue was provided by the […]