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Tax Provisions in the Build Back Better Act Passed by the House

Matt

The House of Representatives passed the Build Back Better Act (the BBBA). If enacted in its current form, the legislation would, among other things: establish a minimum corporate tax based on book income; raise income tax rates for high-income individuals; expand the deductibility of state and local taxes against federal taxes; impose new limitations...

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Sidney Kess, CPA, J.D., LL.M.

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Marital Dissolution Planning Post TCJA

Sidney Kess, CPA, J.D., LL.M.

The IRS reports that nearly 600,000 taxpayers claimed an alimony deduction on their 2015 returns (the most recent year for statistics) (https://www.irs.gov/pub/irs-soi/soi-a-inpd-id1703.pdf). The Tax Cuts and Jobs Act of 2017...

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Tax Court Upholds Strict Adherence to Requirements for IRS P…

Kathleen M. Lach

A recent decision issued by the U.S. Tax Court in Graev v. Commissioner 1 could prove pivotal in cases where a practitioner has requested abatement of penalties for their client...

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How Interest Can Be Deducted When Money is Borrowed to Buy I…

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CPAs Wanting to Do It Themselves

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Non-Grantor Trust Planning Tips Benefit Many Clients

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