Tax & Accounting Blog

Property Tax Changes From East to West

Property Tax Changes From East to West

Connecticut — Property Tax Exemptions Connecticut Legislation has changed the minimum cost of improvements eligible for a 50% property tax exemption from $25,000 to $10,000. This decreased amount is for up to three years for economic development projects that towns are authorized to approve. Missouri – Solar System Exemption L. 2013, H142, effective 08/28/2013, exempts … Read More

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Alert: IRS Announces Postponement from January 1 to July 1 for Many Items of FATCA Compliance

Notice 2013-43, an advance copy of which was released today, revises the timeline set by the FATCA final regulations for certain elements of due diligence, tax withholding, and reporting under Chapter 4 of the Internal Revenue Code, the Foreign Account Tax Compliance Act known as FATCA. Notice 2013-43 will be officially published on July … Read More

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Japan signs FATCA Implementation Agreement

The U.S. Department of Treasury has announced a statement of mutual cooperation and understanding for implementation of the U.S. Foreign Account Tax Compliance Act (FATCA). The statements will serve as a FATCA intergovernmental agreement (IGA) following the Treasury Department’s Model 2 structure for direct reporting by Japanese financial institutions to the U.S. Internal Revenue Service. … Read More