Tax

Tax

Congress Looks to Support Charities With Tax Breaks

Two senators want to let taxpayers deduct charitable donations even if they don’t itemize their deductions.

Source: Benzinga
June 22, 2020
Tax

Ohio Looks To Reclaim GM Tax Break

The automaker was awarded $60 million in credits before it closed its Lordstown, Ohio, plant.
Tax

Multinationals Derive Huge Benefits From Shifting R&D Abroad

Savings from moving R&D to take advantage of lower wages drives foreign profits about as much as lower tax rates.
Tax

Tax Managers Draw Up Wish List of Crisis Legislation

Payroll and employment tax relief is what tax executives want most from Congress this year.
Tax

Trade Tensions Still Vex Tax Execs

Despite the preliminary trade deal with China, corporate tax leaders expect tariffs to be a pain in their side throughout 2020.
Compensation

Do Clawback Policies Accomplish Their Desired Purpose?

They may, but new research surprisingly suggests that clawbacks may also prompt managers to drive down their companies' effective tax rates.
Tax

Biden Unveils Plan for $3.2 Trillion in Tax Hikes

The plan, which omits a wealth tax, is "certainly more modest than those of other leading contenders" for the Democratic presidential nomination.
Tax

Democrats Balk at Trump Payroll Tax Proposal

“What they want to do is hit Social Security like a wrecking ball with a massive tax cut for the country’s biggest corporations."
Tax

International Tax Reporting Standard Is Finalized

Under the Global Reporting Initiative's new standard, thousands of companies will be voluntarily reporting tax information on a country-by-country basis.
Tax

OECD Takes Aim at Multinational Tax Shelters

A proposed tax overhaul would allow a country to tax the profits of a company even though it does not have a "physical presence" there.
Tax

IRS Aims to Catch Up to Tech Advancements

Tax agency proposes regulations that would impact tax on income from international cloud transactions and electronic transfers of digital content.
People

State Laws Cloud the Use of Independent Contractors

With California likely to become the third state to restrict the definition of independent contractors, companies that use gig workers face new risks.
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