Sentences with phrase «us federal income tax laws»

In his 2015 book «Rewriting the Rules of the American Economy,» Stiglitz said that the normalization of shareholder primacy was solidified under the Reagan administration through changes to federal income tax law and securities law, including relaxed antitrust laws.

This discussion also does not consider any specific facts or circumstances that may be relevant to holders subject to special rules under the U.S. federal income tax laws, including, without limitation, certain former citizens or long - term residents of the United States, partnerships or other pass - through entities, real estate investment trusts, regulated investment companies, «controlled foreign corporations,» «passive foreign investment companies,» corporations that accumulate earnings to avoid U.S. federal income tax, banks, financial institutions, investment funds, insurance companies, brokers, dealers or traders in securities, commodities or currencies, tax - exempt organizations, tax - qualified retirement plans, persons subject to the alternative minimum tax, persons that own, or have owned, actually or constructively, more than 5 % of our common stock and persons holding our common stock as part of a hedging or conversion transaction or straddle, or a constructive sale, or other risk reduction strategy.

Every year, the IRS makes some changes to the US Federal income tax laws.

And it must restore the elimination of state and local tax deductibility, which has been the foundation of the federal income tax law since its creation more than a century ago.»

Federal income tax law prohibits the use of direct or indirect Federal guarantees in combination with tax - exempt debt (section 149 (b) of the Internal Revenue Code of 1986 (the Code).

This article is based upon the United States federal income tax laws as currently in effect and as currently interpreted and does not include any description of the tax laws of any foreign government that might apply to a beneficial owner.

Changes in federal income tax laws could have adverse consequences for the mortgage interest deduction.

In case you missed it, we have a brand - new Federal income tax law which commenced on January 1, 2018, called the «Tax Cuts and Jobs Act of 2017 ``.

When the federal income tax law was adopted in 1913, the interest income on most municipal bonds was excluded from federal taxation.

An individual, who has an employment relationship, acknowledged by both the individual and the mortgage broker or mortgage banker and is treated as an employee for purposes of compliance with the federal income tax laws.

Under the backup withholding provisions of Section 3406 of the Code, distributions of taxable net investment income and net capital gain and proceeds from the redemption or exchange of the shares of a regulated investment company may be subject to withholding of federal income tax in the case of non-exempt shareholders who fail to furnish the investment company with their taxpayer identification numbers and with required certifications regarding their status under the federal income tax law, or if the Fund is notified by the IRS or a broker that withholding is required due to an incorrect TIN or a previous failure to report taxable interest or dividends.

You may be allowed a deduction of payments for (i) a prepaid funeral insurance policy that covers you or (ii) medical or dental insurance premiums for any person for whom you may claim a deduction for such premiums under federal income tax laws.

While these securities do not pay current cash income, federal income tax law requires the holders of zero - coupon, step - coupon, and pay - in - kind securities to include in income each year the portion of the original issue discount (or deemed discount) and other non-cash income on such securities accruing that year.

A friend of mine — new to his job as chief financial officer — received a bill from a law firm for advice in an obscure area of federal income tax law.

His practice focuses principally on federal income tax law, including both transactional matters and tax controversy matters.

Based on current federal income tax laws.

* Federal income tax laws are complex and subject to change.

Recent changes in Federal Income Tax law have decreased the Federal Income Tax on capital gains.

Addressed client inquires regarding eligible tax benefits and financial opportunities by researching the appropriate tax treatment using the Federal Income Tax law

One owner of a 40 - person company set up the corporate stock so that he and his wife could gift the shares to their children, including the successor son, as much as the federal income tax law would allow.

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Not exact matches

The after - tax income of state residents would, the argument goes, be the same as under the old federal tax law.

Although President Donald Trump signed the Republican tax bill into law at the end of December, new federal tax brackets will only affect income earned starting January 1, 2018.

As the law stands now, undocumented parents can receive a federal income tax credit up to $ 1,000 annually for each child, the vast majority of whom are American citizens.

Under previous tax law, most people could deduct the amount of taxes they'd paid on property, sales or income from the adjusted income they reported on their federal tax returns.

Federal tax law says that S corps can have an ESOP, and that no income tax is due on the portion of stock owned by the ESOP.

Under existing law, payments of those taxes can be deducted, or subtracted from federal taxable income, lowering the amount of federal tax due.

To qualify for this guarantee: (i) you must have filed your original 2017 federal income tax return through Credit Karma Tax on or before April 16, 2018; (ii) you must be entitled to a federal tax refund from the IRS; (iii) you must have filed an amended federal income tax return using the same Tax Return Information through another online tax preparation service; (iv) your amended return must have been accepted by the IRS; (v) you must submit your complete Max Refund Guarantee claim to Credit Karma Tax no later than December 31, 2018; and (vi) the larger refund can not be attributed to claims you make on your tax return that are contrary to ltax return through Credit Karma Tax on or before April 16, 2018; (ii) you must be entitled to a federal tax refund from the IRS; (iii) you must have filed an amended federal income tax return using the same Tax Return Information through another online tax preparation service; (iv) your amended return must have been accepted by the IRS; (v) you must submit your complete Max Refund Guarantee claim to Credit Karma Tax no later than December 31, 2018; and (vi) the larger refund can not be attributed to claims you make on your tax return that are contrary to lTax on or before April 16, 2018; (ii) you must be entitled to a federal tax refund from the IRS; (iii) you must have filed an amended federal income tax return using the same Tax Return Information through another online tax preparation service; (iv) your amended return must have been accepted by the IRS; (v) you must submit your complete Max Refund Guarantee claim to Credit Karma Tax no later than December 31, 2018; and (vi) the larger refund can not be attributed to claims you make on your tax return that are contrary to ltax refund from the IRS; (iii) you must have filed an amended federal income tax return using the same Tax Return Information through another online tax preparation service; (iv) your amended return must have been accepted by the IRS; (v) you must submit your complete Max Refund Guarantee claim to Credit Karma Tax no later than December 31, 2018; and (vi) the larger refund can not be attributed to claims you make on your tax return that are contrary to ltax return using the same Tax Return Information through another online tax preparation service; (iv) your amended return must have been accepted by the IRS; (v) you must submit your complete Max Refund Guarantee claim to Credit Karma Tax no later than December 31, 2018; and (vi) the larger refund can not be attributed to claims you make on your tax return that are contrary to lTax Return Information through another online tax preparation service; (iv) your amended return must have been accepted by the IRS; (v) you must submit your complete Max Refund Guarantee claim to Credit Karma Tax no later than December 31, 2018; and (vi) the larger refund can not be attributed to claims you make on your tax return that are contrary to ltax preparation service; (iv) your amended return must have been accepted by the IRS; (v) you must submit your complete Max Refund Guarantee claim to Credit Karma Tax no later than December 31, 2018; and (vi) the larger refund can not be attributed to claims you make on your tax return that are contrary to lTax no later than December 31, 2018; and (vi) the larger refund can not be attributed to claims you make on your tax return that are contrary to ltax return that are contrary to law.

The Congressional Budget Act of 1974 defines tax expenditures as «revenue losses attributable to provisions of the Federal tax laws which allow a special exclusion, exemption, or deduction from gross income or which provide a special credit, a preferential rate of tax, or a deferral of tax liability.»

In addition, this discussion does not address U.S. federal tax laws other than those pertaining to the U.S. federal income tax, nor does it address any aspects of the unearned income Medicare contribution tax pursuant to Section 1411 of the Code, or U.S. state, local, or non-U.S. taxes.

There is a large body of established tax principles and law for property that apply to cryptocurrency and how the gains, losses, income and transactions are treated for federal tax purposes.

Working closely with tax and estate planning professionals will help you create a plan that is right for you, complies with federal and state laws, and fully considers income, estate and gift - tax consequences.

A C corporation under Federal law pays corporate income taxes directly on its corporate income.

This discussion also does not address any tax consequences arising under the unearned Medicare contribution tax pursuant to the Health Care and Education Reconciliation Act of 2010, nor does it address any tax considerations under state, local or foreign laws or U.S. federal laws other than those pertaining to the U.S. federal income tax.

The change in the current tax law regarding MLPs could result in the MLP being treated as a corporation for federal income tax purposes which would reduce the amount of cash flows distributed by the MLP.

--- Creating a «family partnership» under federal tax laws, which allows you to divide business income among family members.

And when we realize that the average person today is paying the federal government around 25 % of their income, and then paying another 10 % (or more) for state, county, and city taxes, we are paying a little more in taxes today than what was prescribed by the Mosaic Law for the people of Israel to pay their government.

Gov. Andrew Cuomo went to the Teamsters Local 456 headquarters in his home county of Westchester on federal Tax Day to sign legislation that he said was intended to circumvent the new federal tax law, which caps income tax deductions for state and local taxTax Day to sign legislation that he said was intended to circumvent the new federal tax law, which caps income tax deductions for state and local taxtax law, which caps income tax deductions for state and local taxtax deductions for state and local taxes.

The Felder bill would change the state's tax law by basing personal income off the federal IRC in effect on or before Dec. 1 — before Congress acted on its tax cut legislation.

The measure would amend the state's tax law when it comes to how a taxpayer's income is calculated in order to avoid the state's tax burden increasing as a result of the federal tax overhaul.

The federal tax law had an unintended effect: raising the state - tax bite in nearly every state that has an income tax.

U.S. Sens. Charles Schumer and Kirsten Gillibrand should expect to get a federal income tax cut worth thousands of dollars next year under the new Republican tax law, which they both fought and voted against, based on their 2017 tax returns.

The new federal tax law will double the credit to $ 2,000 per child and raise the income phase - out range to a starting point of $ 200,000 for single filers and $ 400,000 for married couples.

Klein said portions of the budget that are now agreed to include fixes to the partial loss of state and local income tax deductions in the new federal tax laws.

«It is critically important, now more than ever, to make sure government controls spending in light of the federal cap on deductions for state and local taxes,» Law said, referring to the $ 10,000 limit on deductions of local property taxes and state income taxes on federal returns.

To prevent that tax cut from happening, Cuomo's budget legislation decouples from the federal law by pegging the credit and the income phase - outs to the levels in the old tax law.

Another proposal would allow operators of certain businesses, such as a law firm or other professional operation, to pass through their personal income taxes — as a cost of operations — to the federal business taxes they pay.

WASHINGTON — New York's two Democratic senators, Chuck Schumer and Kirsten Gillibrand, should each expect to get a federal income tax cut worth thousands of dollars next year under the new Republican tax law, which they both fought and voted against, according to projections based on their 2017 tax returns.

ALBANY — The Cuomo administration on Wednesday detailed several proposals that could allow some higher - income, middle - class New Yorkers to avoid paying more federal taxes under the new tax cut law passed in Washington last month.

Klein says portions of the budget that are now agreed to include fixes to the partial loss of state and local income tax deductions in the new federal tax laws.