Searching Content indexed under Income Tax by Nicola Lemay ordered by Published Date Descending.
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FBAR: 2015 Reports Due By June 30, 2016
Every U.S. person that had a financial interest in, or signature or other authority over, one or more foreign financial accounts during 2015 must electronically file an "FBAR" with the U.S. Treasury Department...
United States
20 Jun 2016
A "PATH" To Substantial Tax Savings: Qualified Small Business Stock
In the early 1990s, Congress enacted the qualified small business stock ("QSBS") rules to incentivize equity investments in certain corporations.
United States
16 Jun 2016
IRS Issues Favorable PLR Allowing An Individual Panel Owner In An Offsite, Net-Metered Community-Shared Solar Project To Claim The Section 25D Tax Credit
Section 25D allows individual taxpayers a federal income tax credit equal to 30% of the qualified solar electric property expenditures made by the taxpayer.
United States
8 Sep 2015
Changes On The Horizon? IRS Announces New Plans To Recharacterize Management Fee Waiver Arrangements
On July 22, 2015, the IRS released proposed regulations that could limit the utility of "management fee waiver" arrangements (the "Proposed Regulations"). Management fees generally are taxable as compensation income.
United States
4 Aug 2015
2014 Tax Reporting
U.S. citizens, resident aliens and certain non-resident aliens who held any interest in "specified foreign financial assets" at any point during 2014 may be required to file IRS Form 8938 with their 2014 U.S. federal income tax returns.
United States
16 Apr 2015
New Proposals To Tax Carried Interest As Ordinary Income Garner Bipartisan
On March 4, 2014, President Obama issued his Administration’s Fiscal Year 2015 Budget, which includes a proposal to tax carried interests (also known as "performance allocations" or "incentive allocations") in investment partnerships (such as hedge funds and private equity funds) at ordinary income rates.
United States
13 Mar 2014
FATCA: With Deadlines Looming, The Time To Act Is Now
On July 1, 2014, FATCA will go into effect.
United States
4 Mar 2014
Congress Extends The 100% Tax Exemption For Gain On Certain Qualified Small Business Stock, With Retroactive Effect, Through 2013
On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012, among its provisions including a tax benefit whereby capital gains from the sale of exchange of certain qualified business stock held by non-corporate taxpayers can qualify for a 100% exclusion.
United States
22 Jan 2013
Extension on 100% Tax Exemption for Gain on Certain Qualified Small Business Stock
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the "2010 Tax Relief Act") was enacted today. Among its provisions, the 2010 Tax Relief Act extends a tax benefit whereby gains from the sale of certain qualified small business stock ("QSBS") can qualify for a total exclusion from federal income taxation.
United States
22 Dec 2010
Eligible Investors May Receive 100% Tax Exemption for Gain on Certain Stock Acquired Before Year-End
The Small Business Jobs and Credit Act of 2010 temporarily permits a total exclusion from federal income taxation of gain from the sale of certain qualified small business stock ("QSBS").
United States
9 Dec 2010
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