There is Still Time to Register for the Beverly Hills Bar Association Pre-Annual Meeting Events
The AAA-CPA will be kicking off the 50th anniversary celebrations by holding two events at the Beverly Hills Bar Association June 29. Former President Jay Foonberg will be presenting two education sessions starting at 3 p.m. A cocktail reception will follow at 5:30 p.m. These events are open to members and nonmembers. This is a great opportunity to mingle and network with attorney-CPAs from all over the country. Please register by clicking here or by contacting Kimmy Livingston at 888-ATTY-CPA, ext. 2 or firstname.lastname@example.org.
Jim Lynch to Present 'Partnership Withholding for Nonresident Partners' Study Group Aug. 5
AAA-CPA member Jim Lynch of Sobel & Co. will be presenting a study group on Aug. 5 at 2 p.m. This program will discuss federal rules for withholding partnerships for foreign partners. Both withholding in connection with effectively connected income and withholding for passive income will be discussed. Other points discussed will include identification of foreign partners; calculation of the amount of income on which tax is withheld; the calculation of the tax withheld; the effect of tax treaties; filings by foreign partners; transmittal of withholding to the government; and reporting of withholding to the partner. Study groups are complimentary for members and $15 for one CPE/(M)CLE credit. Please click here to register for this teleconference.
Lawmakers push quick passage of ban on Web tax
Members of both parties and both chambers are pushing congressional leaders to move swiftly on a bill to ban taxes on access to the Internet.
The leaders of the Congressional Internet Caucus urged the heads of the House and Senate to take up the legislation before the August recess.
Do subsidies and tax breaks really help create jobs?
Subsidies, incentives and tax breaks have become common tools of states, counties and cities to create jobs. The result has been a competitive escalation, as regions try to outbid each other to woo corporations and the employment opportunities they can create.
US taxes have changed a lot since 1929
U.S. taxes today bear little resemblance to the taxes collected before World War II. Income and payroll taxes have replaced tariffs and excise taxes at the federal level, while property taxes have become less important for state and local governments. And while the federal government collected just one-third of all revenue before the war, they now claim two-thirds.
Record numbers of Americans renouncing US citizenship over taxes
Americans living abroad are increasingly renouncing their citizenship to avoid potentially massive tax penalties for failing to comply with a little-known reporting requirement in the U.S. tax code. In the first three months of this year, 1,001 U.S. citizens and green card holders renounced their American allegiance, with the annual total already on track to be higher than last year's 2,999 renunciations.
Corporate tax rate driving American companies overseas
The was a time when the U.S. was No. 1 in numerous economic categories.
Unfortunately, we have traded our swagger in indicators that make us stronger for a tax code that makes us weaker: American companies face the highest statutory corporate income tax rate in the world — 39.1 percent.
IRS eases offshore voluntary disclosure program for nonwillful tax evasion
The Internal Revenue Service said it would make major changes in its offshore voluntary compliance programs to provide new options to help both taxpayers residing overseas and those residing in the U.S. The changes are expected to provide thousands of people a new way to come into compliance with U.S. tax obligations.
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