Articles

Gov. Kay Ivey on Monday said she is “exploring” returning tax money to Alabamians after the state closed out the fiscal year last week on stronger than usual revenues. Read More.

British Prime Minister Liz Truss defended her government’s move to cut taxes and regulations following criticism from international financial institutions. Read More.

At least 10 people have lost their lives and more than 700 have been rescued in Florida due to Hurricane Ian, which could be the deadliest hurricane in the state's history. Read More.

Republican lawmakers approved a plan to cut income taxes in Missouri on Thursday, abandoning a last-minute addition that would have also slashed tax rates for businesses while sending a package to Gov. Mike Parson's desk over the strong objections of Democrats. Read More.

As Floridians recover from Hurricane Ian, there will be a state-wide gas tax holiday through the month of October. The tax relief was already planned before the storm, but the relief could be considered timely. Read More.

The Grassroots Corner - Week Beginning 10/03/22: “Jim Duffie takes a working vacation” Read More.

The legal battle over a 2020 anti-tax hike referendum effort is over. The Tennessee Supreme Court on Thursday declined to hear the Davidson County Election Commission's appeal challenging Metro's handling of a petition-driven referendum effort to strike down the city's 34% property tax increase. Read More.

Gov. Doug Ducey has ordered the state to implement a flat tax change he helped pass a full year ahead of schedule, weeks before the midterm elections. Read More.

As I sat and visited with one of my accounting firm’s partners at a recent conference, the conversation migrated to the FAIRtax. He lamented how the uber wealthy’s progeny can live lavishly and their existing wealth hardly gets taxed at all. He did not think that it was fair for “trust fund” kids to be able to live an unproductive life without something (i.e., taxation) motivating them to become productive members of society. Read More.

Every summer, Jasper County Judge Mark Allen begins to worry about two very different storms brewing: hurricanes and his county budget. Read More.

Researchers applied the Inflation Reduction Act’s new 15% corporate minimum tax onto 2021 company earnings and found that the burden would only be felt by about 78 companies, with Berkshire Hathaway and Amazon paying up the most. Read More.

The Supreme Court’s unwillingness to intervene in a fight among states over taxing income from remote work may spark a jurisdictional revenue war. Read More.

With the crypto community growing bigger and as trading volumes reach new highs, the United States is also making more effort to ensure that its Internal Revenue Service (IRS) could properly collect cryptocurrency tax. Read More.

The US Bureau of Labor Statistics reported that the consumer price index increased just 0.1% for August after no change in July. However, inflation remains a concern because over the last 12 months, the index rose 8.3% before seasonal adjustment. And those rates could impact your 2023 tax picture. Read More.

State and local tax workarounds such as pass-through entity income tax options have received their share of news coverage. But their impact on business valuation is often overlooked, creating traps such as complications in “tax affecting” earnings, says Brady Ware Arpeggio’s Bruce C. Wood. Read More.