U.S. tax cheaters line up against their accused ex-Swiss banker
American taxpayers who opted to disclose their offshore accounts to avoid prosecution paraded into a New York courtroom this week.
American taxpayers who opted to disclose their offshore accounts to avoid prosecution paraded into a New York courtroom this week.
The new venture aims to help accountants move away from the billable hour.
Even as the Trump administration takes a strong line on renegotiating NAFTA, the American Institute of CPAs renewed a mutual recognition agreement with the accounting bodies of Canada and Mexico on Wednesday.
U.S. companies that have accumulated trillions of dollars of overseas earnings would be taxed on that stockpiled income at a rate as high as 12 percent under the tax-overhaul bill that House Republicans released Thursday.
House tax writers unveiled what the individual income tax brackets will be under their proposed legislation—with a 39.6 percent rate for households making more than $1 million annually.
The IRS won’t be able to accept electronically filed returns while it conducts annual maintenance and reprogramming.
House Republican leaders began rolling out a tax bill Thursday that contains sweeping changes for business and individual tax rates, including a measure to cut the corporate tax rate to 20 percent.
It will be business as usual with no layoffs or title changes, execs say.