Tax

The sharp divergence between Republicans and Democrats over the 21 percent corporate income tax rate was on display Tuesday at the House Ways and Means Committee as Democrats began making the case for a large increase should their party succeed in November’s elections.

A group of 27 Democratic senators is calling for action in the Senate Finance Committee on extending energy-related tax credits and examining new tax proposals, especially those that incentivize renewable energy projects.

One way for C corporations to reduce taxable income is to utilize an interest charge – domestic international sales corporation (IC-DISC). However, when dealing with C corps, it is imperative the IC-DISC’s ownership structure is correctly established at the onset.

Tax preparer groups are coming together to ask for more dedicated support.

President Donald Trump has put impeachment behind him, but he’s got another battle ahead with Democrats that’s been brewing for almost a year: access to his tax returns.

I recommend eliminating the tick and tie review in favor of an issue review.

Grant Thornton’s National Tax Office picks the top issues of 2019 and 2020.

Extenders and technical corrections could require revisions to earlier work.

Accounting Today’s editors pick the best new and most improved tools and resources for accountants from the last year.

Frivolous natures; debt of a salesman; tooth and justice; and other highlights of recent tax cases.