Corporate Income Taxes. Legal news and articles for May 21 - 31, 2017

Leading tax scholar Bill Andrews '55: 1931-2017The Latest: House tax-law writer downplays differencesTax law can help grandparents raising grandkidsPossible Impact On Income Tax: Wealthiest Waiting For Trump Tax CutICPAK seeks policy guide in overhaul of income tax lawKan. lawmakers mark 5th anniversary of Brownback's income tax cutsKansas House votes down latest plan for rollback of Brownback's tax cutsIllinois Senate Democrats pass major tax hikes unlikely to become lawLegislative Task Force to Overhaul Arkansas Tax SystemDucey signs 27 laws including aid for needy, biz tax creditsTrump calls to cut off tax breaks for illegal immigrantsTrump's Child Tax Credit Cut Is Why Your Tax Return May Look Smaller Next YearTrump Tax Reform May Change Flat-Rate Withholding on Supplemental WagesHealthcare reform must include repeal of all ObamaCare taxesHealth care law changes would reduce tax credits

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How New York Can Release Trump's Tax Returns
POLITICO MagazineMay 2, 2017

Specifically, the law would require the state tax authority to post on its website the last five years of returns filed by the president and vice president, the state's two U.S. senators, as well as the governor, lieutenant governor, state comptroller ...more »

Qatar cabinet approves draft law on income tax and VAT
The Peninsula QatarMay 3, 2017

Doha: The Cabinet in its meeting today approved a draft law on income tax and its draft executive regulation. The Cabinet also approved a draft law on Value-Added Tax (VAT) and its draft executive regulations. The Prime Minister H E Sheikh Abdullah bin ...more »

Corporate Income Taxes. News and Stories

Leading tax scholar Bill Andrews '55: 1931-2017
Harvard Law School NewsMay 31, 2017

A longtime tax expert who clarified the world of tax law for generations of lawyers, Andrews focused his research on taxation in general, and taxation of income from partnerships and corporation transactions. His articles on tax law revolutionized ...more »

The Latest: House tax-law writer downplays differences
Miami HeraldMay 30, 2017

The House plan would increase the standard deduction for tax filers — meaning more of their income would not be subject to state taxes. The Senate budget approved earlier this month would raise the deduction even higher, but also cut individual income ...more »

Tax law can help grandparents raising grandkids
El Paso TimesMay 27, 2017

Oftentimes, the grandparents have to step in and raise those children. There are many reasons for this, including drug addiction, broken marriages, mental illness and the like. Nevertheless, it is a fact of life today and many of us are affected by ...more »

Possible Impact On Income Tax: Wealthiest Waiting For Trump Tax Cut
Hartford CourantMay 26, 2017

The state Department of Revenue Services is prevented by law from releasing confidential tax returns of any individuals, but Sullivan can talk about them as a group. The most recent problem is that the state income taxes paid by the top 100 taxpayers ...more »

ICPAK seeks policy guide in overhaul of income tax law
Business Daily (press release) (blog)May 25, 2017

“As such, the review of the Income Tax Act should be predicated on an income tax policy as a precursor to the review of the law,” Mr Barasa said on Thursday. “It is therefore the Institute's professional opinion that an income tax policy be developed ...more »

Kan. lawmakers mark 5th anniversary of Brownback's income tax cuts
hays PostMay 23, 2017

Sam Brownback's signature income tax cuts becoming law by rejecting a bill that would have largely repealed them. The bill defeated Monday night by the House was similar to a measure rejected May 10 by the Senate. Both would have raised more than $1 ...more »

Kansas House votes down latest plan for rollback of Brownback's tax cuts
Kansas City StarMay 23, 2017

The proposal fell on the five year anniversary of Brownback originally signing the income tax cuts into law. Ward and a majority of other Democrats voted against the legislation. Moderate Republicans would likely have needed more support from Democrats ...more »

Illinois Senate Democrats pass major tax hikes unlikely to become law
Chicago TribuneMay 23, 2017

Illinois Senate Democrats on Tuesday opted to go their own way and passed a politically risky measure to hike the income tax and expand the sales tax, drawing the very reactions that almost surely doom the plan to failure. The Illinois Republican Party ...more »

Legislative Task Force to Overhaul Arkansas Tax System
KARKMay 23, 2017

The Arkansas Tax Reform and Relief Task Force, part of the governor's new law that established a $50 million income tax cut for low-income taxpayers, met for the first time Monday morning. Sen. Jim Hendren, R-Gravette, and Rep. Lane Jean, R-Magnolia, ...more »

Ducey signs 27 laws including aid for needy, biz tax credits
Arizona Daily StarMay 23, 2017

Ducey also agreed to expand an existing “angel investors” program that gives investors a 30 percent income tax credit — 35 percent for certain targeted industries — for money they invest, mainly in small companies. That provoked controversy over why ...more »

Trump calls to cut off tax breaks for illegal immigrants
Washington ExaminerMay 23, 2017

Under current law, workers must provide a Social Security number to receive the earned income tax credit. To claim the refundable portion of the child tax credit, though, only an individual taxpayer identification number is necessary, which the IRS ...more »

Trump's Child Tax Credit Cut Is Why Your Tax Return May Look Smaller Next Year
RomperMay 22, 2017

Under current tax law, tax-paying parents and guardians can claim a tax credit of up to $1,000 for each child under the age of 17. According to the Tax Policy Center, families may receive some or all of ... As Bloomberg reported, spending on the Child ...more »

Trump Tax Reform May Change Flat-Rate Withholding on Supplemental Wages
Bloomberg BNAMay 22, 2017

Modifications to tax law that are to be pursued as part of President Donald Trump's overall federal tax reform plan may include changes to how the optional and mandatory flat income tax rates for supplemental wage withholding are determined. Under ...more »

Healthcare reform must include repeal of all ObamaCare taxes
The Hill (blog)May 21, 2017

Most notably, ObamaCare imposed a tax increase on families with high medical bills. Around 10 million families pay $200 to $400 in higher income taxes each year because the law increases the threshold at which families can deduct medical expenses paid ...more »

Health care law changes would reduce tax credits
Eagle-TribuneMay 21, 2017

BOSTON — The Republican-led plan to replace the federal health care law would scrap government-backed tax credits that help make health insurance more affordable for low- and moderate-income workers, advocates say, and will drive up premium costs.more »

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