Tax Warrior Chronicles

Tonight’s Presidential Debate – Listen for These Tax Topics

Posted on Tue, Sep 29, 2020

With the first presidential debate occurring tonight at 9:00 PM EST, many will watch and listen to the candidates’ plans for the next four years. The fourth of six scheduled 15-minute time segments will be dedicated to the economy. In preparation for this discussion we have prepared a high-level overview of the candidates’ tax proposals, and some important considerations around their potential implications.

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BREAKING NEWS - $2T COVID-19 Relief CARES Act Becomes Law

Posted on Fri, Mar 27, 2020

President Trump signed into law today H.R. 748, the Coronavirus Aid, Relief and Economic Security Act (CARES Act).  This is the third major piece of legislation enacted in response to the COVID-19 pandemic since March 6, 2020.  The focus of the $2 trillion package is supporting American workers and businesses while providing resources to the health care community serving the public during this unprecedented time.

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Families First Coronavirus Response Act Enacted

Posted on Thu, Mar 19, 2020

The Families First Coronavirus Response Act (Families First Act) was approved by the Senate on March 18, 2020, and swiftly signed by the President into law.

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Coronavirus Relief Package Likely to Extend April 15th Tax Return Filing and Payment Deadline

Posted on Wed, Mar 11, 2020

The White House and law makers met Wednesday March 11, 2020, to hash out emergency legislation to provide economic relief related to the coronavirus pandemic.  There is a planned vote on Thursday March 12, 2020, with hopes that President Trump will sign the legislation into law by Friday March 13, 2020.  It is expected that this legislation and related executive orders will include an extension of time to file and pay taxes normally due on or before April 15, 2020, for many taxpayers.

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Trump and House Agree to Extend Expired Tax Incentives

Posted on Tue, Dec 17, 2019

By: Eric R. Elmore

 

Amidst all the talk about impeachment and the hard-line partisan politics in Washington was a pearl of good news for the American taxpayer. Over the weekend, congressional leaders and the White House agreed to extend, through 2020, the group of tax provisions commonly known as "tax extenders." What does this mean for you?  Let’s take a look…

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Conference Call - Tax Reform Overview & Impact

Posted on Tue, Nov 28, 2017

Drucker & Scaccetti is having a conference call this Friday, December 1, to discuss the Tax Cuts and Jobs Act making its way through Congress. After an introduction and clarification on the more impactful changes and thoughts on year-end planning, you will have the opportunity to ask questions.  Read on for registration instructions.

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Tax Reform – Why We’ve Been Nearly Silent

Posted on Thu, Nov 16, 2017

By: Eric R. Elmore and Jane Scaccetti, CPA, MT, PFS

 

There is no shortage of articles, opinions and talking heads about The Tax Cuts and Jobs Act.  Does it help the middle class, or hurt the middle class?  Is it good for the wealthy or does it not impact them much? Is it a job creator or a job killer? And, we can go on and on. Meanwhile, The Tax Warriors® at Drucker & Scaccetti have been relatively silent about the bill.  It’s time our subscribers understand why.

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“Stressed” Retirement System Forces GAO to Review 401(k) Contribution Deductions

Posted on Thu, Oct 26, 2017

By: Eric R. Elmore

 

While Congress waivers on whether to reduce retirement savings deductions, all pillars of our retirement system appear to be under stress. A recent Government Accountability Office (GAO) Report highlights the challenges faced by each component of the U.S. "retirement system" and argues the case for a fundamental re-evaluation to better promote future retirement security. And, though the Republican-led Congress rarely follows the GAO’s lead, if you have a 401(k), you should be paying attention to what it is saying.

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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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2017 Tax Reform: What Trump and Congress Are Now Considering

Posted on Tue, Aug 15, 2017

By: Eric R. Elmore

 

Earlier this year, a brief memo was released by the White House titled, “The Biggest Individual and Business Tax Cut in American History.” It had little detail and left many wondering about the possibility of tax reform this year.   Now, Reuters reports President Donald Trump and congressional Republicans are tackling tax reform to be unveiled as soon as next month. Tax staffers are meeting in the House of Representatives and the Senate through the August break to work on legislation. Here are some areas that are likely to be addressed.

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