As talks continue in search of a unified approach to taxing the digital economy, the House and Senate tax-writing committees are concerned about the impact any global tax plan would have on U.S. tax revenue. The Organization for Economic Cooperation and Development (OECD) is seeking consensus from more than 130 countries on a plan for… Read more »

President Trump’s election-year “Tax Cuts 2.0” proposal is expected in September and could include a 10 percent tax cut for the middle class as well as a new minimum tax on corporations, according to latest reports. The White House has been talking for months about a new tax proposal timed with President Trump’s reelection campaign… Read more »

The Pennsylvania Department of Revenue (DOR) issued a sales and use tax ruling Jan. 31 clarifying that membership fees to join a professional association are taxable if the member receives tangible personal property in addition to non-taxable services in exchange for their dues payment. While the ruling acknowledges that a membership fee in and of… Read more »

Treasury Secretary Steven Mnuchin this week called on Congress to make permanent the individual tax cuts included in the 2017 tax law, saying the economy would benefit. Mnuchin was testifying Feb. 12 on the administration’s fiscal 2021 budget plan, which assumes the tax law’s temporary cuts to individual tax rates will be extended. Under the… Read more »

President Trump’s fiscal 2021 budget plan proposes $12 billion in funding for the Internal Revenue Service (IRS), up from the $11.5 billion allocated to the agency in the fiscal 2020 government funding bill the president signed in December. The proposed budget increase is intended to allow the IRS to “modernize its systems to improve taxpayer… Read more »