Tax

The hope is that local jurisdictions will sign on so businesses don’t have to reach out to each individually.

The Manhattan district attorney said press reports suggesting potential misdeeds by President Donald Trump and his company could justify a grand jury subpoena of the president’s taxes and other financial records.

But the federal government has been able to correct some of its earlier missteps, like sending millions of stimulus checks to the deceased, according to the Government Accountability Office.

The regs clarify that certain deductions aren’t to be considered miscellaneous itemized deductions.

The Internal Revenue Service and the Treasury Department issued the last set of final regulations to implement the 100 percent additional first-year depreciation deduction from the Tax Cuts and Jobs Act.

State tax revenues in some parts of the U.S. are rebounding as the economy emerges from the coronavirus lockdown, a positive sign for governors and mayors who had been bracing for the biggest fiscal crisis in decades.

Companies that took advantage of federal pandemic-relief efforts like payroll tax deferrals will face bigger bills next year.

New legislation aims to offer even more help.

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As state and local tax forecasts continue to paint a very ugly budget picture, there is little reason to doubt that officials are casting about in search of new sources of revenue.