Tax Strategies

The Treasury Department and the Internal Revenue Service proposed regulations Friday to increase and expand the first-year depreciation deduction for qualified property from 50 to 100 percent, carrying out a provision of the Tax Cuts and Jobs Act.

Apple Inc. must still pay 5 billion euros ($5.8 billion) to comply with a European Union back-tax order, nearly two years after the company’s fiscal deals with Ireland were ruled illegal.

The House approved a repeal of the Affordable Care Act’s medical device tax, along with a bill that prohibits the IRS from rehiring any employee who was fired for misconduct.

It’s easy to be outraged about multinational corporations’ shifting of profits to tax havens, but much harder to figure out how to stop them from doing it without hurting the economy. Evidence exists that curbing tax avoidance opportunities makes these firms move actual jobs, not just accounting profits, overseas.

House Republicans unveiled a broad outline on Tuesday for their next phase of tax code changes, which steered clear of correcting technical mistakes from last year’s overhaul.

Tax reform gives practitioners plenty of opportunity to add value.

Among the wealthy tri-state area set, there’s more buzz than ever about fleeing south to Florida, land of mild winters and, more importantly after last year’s federal tax overhaul, zero state personal income tax.

Many tax-exempt groups that participate in politics will no longer be required to disclose their donors to the Internal Revenue Service, the Treasury Department said.

Four Democratic-led northeastern states sued the Trump administration to invalidate the new $10,000 cap on the federal tax deduction for state and local taxes.

These provisions of the Tax Cuts and Jobs Act offer practitioners big opportunities to help clients.