Tax Warrior Chronicles

What’s In the Ways & Means Committee Outline of Proposed New Tax Laws

Posted on Fri, Sep 17, 2021

By: Rosalind Sutch, CPA, MT

 

While many tax advisors were busy working to wrap up September 15th deadlines on Monday, House Ways & Means Committee Chairman Richard Neal released 881 pages of proposed legislative text intended to become part of the Build Back Better Act, a budget reconciliation bill forthcoming from Congress. That same day, Ways & Means Committee staff prepared and released an 18-page, section-by-section outline of the potential tax legislation required to cover the Biden administration’s $3.5 trillion spending plan. It’s still early in the legislative process and what will become law is still somewhat of a guessing game. But we are at the stage when we start following

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Tax Code Changes in the 2017-2018 PA Budget

Posted on Fri, Nov 17, 2017

By: Joseph Brunell, CPA

 

Governor Tom Wolf finally put an end to the 2017-2018 Commonwealth of Pennsylvania budget deadlock on October 30, 2017, by signing additional legislation needed to implement the budget. From this legislation (House Bill 542) comes various changes and additions to the Pennsylvania tax code. In today’s post, The Tax Warriors® will highlight the key changes.

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Framework for Fixing Our Broken Tax Code Released - Lacks Depth and Details

Posted on Thu, Sep 28, 2017

by:  Rosalind W. Sutch, Chris Catarino, Jane Scaccetti

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Obama's FY 2016 Budget Contains Host of Individual and Business Tax Provisions

Posted on Wed, Feb 11, 2015

President Obama is proposing some bold “revenue proposals” (the acceptable campaign-season term for “taxes”). On February 2, 2015, he released his federal budget proposals for fiscal year 2016, which focus on a strategy to strengthen the middle class and help working families. However, the proposed budget also relies on the wealthy (defined in several different ways) to pay more taxes with a heightened focus on retirement accounts. The budget estimates that it achieves about $1.8 trillion in deficit reduction, primarily from reforms to health programs, the Tax Code, and immigration.

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New York Estate Tax – Watch Out for That Cliff!

Posted on Tue, May 27, 2014

With the passage of the New York State Executive Budget legislation in April 2014, Governor Cuomo may get his wish to keep wealthy New Yorkers in New York.  But maybe not . . .

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Obama Budget Contains Host of Individual and Business Tax Provisions

Posted on Mon, May 06, 2013

Being promised are major changes to the business and individual income tax laws and on Wednesday, President Obama released his federal budget proposals for fiscal year 2014. The Treasury Department's “General Explanations of the Administration's Fiscal Year 2014 Revenue Proposals” (the so-called “Green Book”) was released later that day. The revenue proposals include controversial proposed tax changes and increased IRS funding.  This won’t be the end and many expect wholesale changes and significant compromises. But, it is definitely getting a lot of attention. Here’s an overview of the president’s proposals:

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