Sentences with phrase «tax law says»

Taxpayers only have standing in their capacity as taxpayers when their individual tax bill is miscalculated pursuant to the Internal Revenue Code or collected when tax law says that it isn't owed.

«The tax law says that all income is taxable unless otherwise excepted,» says Jones.

This results in situations where «common sense» would say one thing but Iowa's tax law says something else.

The tax law says you can't contribute to a Roth IRA if your income is too high, but those limits don't apply to designated Roth accounts.

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.

At one time the tax law said you couldn't do a Roth conversion if your income was over $ 100,000 or if you were married filing separately.

Not exact matches

Fox said he eventually expects Mexico to produce and export as much as 60 percent of the marijuana used by those in the U.S. Fox said cannabis «has to be integrated into NAFTA,» allowing it to be traded across the border «without barrier, without taxes and limits, only complying with the law.»

In May, Uber's offices in Montreal were subjected to raids by Revenue Quebec, which said it has reason to believe the company has broken the province's tax laws.

«And just like all murder mysteries have two driving forces — money or sex — so too does fiscal law, where everything is related to money and lowering taxes through tax avoidance,» says Krishna.

If you remove the need to income split by taxing the family unit of those in married or living common - law relationships and then adopt a flat tax for everyone — say 20 % — there really is no need for small business to incorporate, except for perhaps liability issues.

The merger mania is being driven in large part by the new tax law, he said.

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.

When contacted by Bloomberg, Korea's tax authority said it doesn't comment on investigations due to privacy laws.

The Commission took unilateral action and retroactively changed the rules, disregarding decades of Irish tax law, US tax law, as well as global consensus on tax policy, that everyone has relied on,» Apple said.

Top Four Worries Percentage of the 2001 Inc 500 CEOs who say they worry about Rising cost of benefits: 19 % Federal taxes: 16 % Tighter capital markets: 13 % Employment laws: 12 %

In an interview last month from the World Economic Forum in Davos, Switzerland, Schwarzman said Trump's policies, including the new tax law, will provide a big boost to U.S. economic growth.

«I can tell you we follow the tax laws, and if there's an opportunity to save taxes, we like anybody else in this country will follow that opportunity,» Romney said, according to the LA Times.

State Republican lawmakers say the tax is unconstitutional and violates state law, arguing the city doesn't have the right to impose taxes.

«The problem is, the way the law is worded treats every American citizen and green card holder in the world [operating through a foreign corporation] the same as Google,» said tax attorney Monte Silver.

As for the broader effects of the GOP tax law, Pfizer said that it would pay $ 15 billion in taxes over the next eight years in order to repatriate overseas cash as its effective tax rate falls from about 20 % to 17 %.

That's overshadowing the positive effect of the new GOP tax law for Apple, JPMorgan says.

«As phenomenal as the generosity the Zuckerbergs are showing is, it comes against the background of the remarkably generous tax treatment he has gotten for the wealth he has earned,» says Brian Galle, a professor of law at Georgetown University and a specialist in tax issues.

«The tax law specifically requires certain records in order to take deductions,» Weltman says.

Apple has countered by saying that it does pay its fair share and has criticized the government's tax laws.

Brokers say the declines were simply the result of uncertainty around the Republican tax plan, as buyers held off until the details of the new law became clear.

The company also paid $ 1.2 million to consultants who were lobbying on behalf of the company's efforts to change law related to how grant funds are taxed, the report said.

A professor of tax law who likes Morneau's thrust overall said the government must still clarify its reasonableness test for when «income sprinkling» would be allowed.

«Having assets in all three buckets provides tremendous flexibility to choose where to withdraw funds to take advantage of whatever tax laws may exist in the future,» he said.

The comptroller's annual report said bonuses for 2017 likely got a boost from tax law changes that will eliminate the corporate deduction for performance - based pay starting in 2018.

The Treasury said on Friday it will postpone enforcement of a new law that cracks down on offshore tax avoidance by Americans.

«When you think of law and tax, they're the necessary evils,» Suh said.

Said McCain: «I want America's smartest people creating jobs, not wasting their time, energy and capital navigating our incomprehensible tax laws.»

The analyst says Goldman's disclosed $ 5 billion hit to fourth - quarter earnings from the new tax law «makes the outlook for 2018 somewhat better.»

The steelmaker is hoping to accelerate its investments in the U.S. in near future as improvements to regulation and tax laws would significantly drive growth, Longhi said in the CNBC interview.

During his first State of the Union address in February, Trump said that Congress had «repealed the core of disastrous Obamacare,» citing the nixing of the health law's individual mandate (which requires Americans to either carry insurance or pay a tax penalty) that passed alongside the recent GOP tax overhaul.

Both metropolitan areas have said, for example, that short term rentals procured through Airbnb and VRBO are essentially against the law, as they cheat cities out of millions of dollars of tax revenues, but also because they aren't regulated the way hotels are, and could be fire traps or have other safety considerations about which hapless customers are not likely to be aware.

Inter IKEA Systems B.V., the Dutch company at the heart of the investigation, said in a statement: «Inter IKEA Group including its subsidiary Inter IKEA Systems B.V. is committed to paying taxes in accordance with laws and regulations wherever we operate.

Delta said the tax law would likely spur more corporate travel spending.

The grocer plans to invest in education, wages and retirement benefits, saying tax law changes helped fund these efforts.

The company said these adjustments don't yet incorporate any impact from the new U.S. tax laws.

«Sometimes you just move 200 miles and that's it — you have different tax legislation, you have different labor laws, it's completely different,» she says.

Then you say, «This is the tax result we expect, given our interpretation of the tax laws.»

Kevin Brady says everyday American workers are beginning to see wage increases, most notably due to the new tax law

That's easier said than done, since the IRS permits corporate owners to switch their status only once every five years — which means it's tough to make a habit out of trying to time your switches to take advantage of the somewhat erratic U.S. tax laws.

In those cases, the IRS has said that it will allow taxpayers to request clarification of the tax laws as they relate to an individual's or a company's very specific set of circumstances,» explains Eileen J. O'Connor, a partner in the Washington, D.C., tax office of accounting firm Grant Thornton.

The president had initially planned to sign the tax bill in early January, he said, but decided to sign it Friday morning after he listened to cable news shows discussing whether the bill would become law in time for Christmas.

Allison Christians, the Stikeman Chair in Tax Law at McGill University, says there is a «perversity» to the arrangement.

More say they have noticed their income taxes have gone down since the law went into effect than say their taxes have gone up: 18 % vs. 9 % respectively.

SAN FRANCISCO — Since Apple said in January that it would bring back most of the $ 252 billion it held abroad under the new tax law, investors have wondered what the company would do with the enormous cash pile.

The social network also said it had taken a $ 2.3 billion charge to cover the repatriation of foreign earnings under the new tax code that was signed into law last month.