As reported by Reuters, Treasury Secretary Steve Mnuchin has said that a proposed middle-class tax cut that President Trump floated just ahead of the recent November elections is not a focus of the administration’s efforts on taxes. Instead, Mnuchin said that the administration would focus its efforts on fixing issues with the 2017 tax reform law, the Tax Cuts and Jobs Act (TCJA, P.L. 115-97, 12/22/2017).
More answers
Iowa Enacts Pass-Through Entity Tax SALT Cap Workaround
by Vidor A. Nosce Iowa has enacted an entity-level tax election for pass-through entities that allows a partner or shareholder …
Federal Court Rules Overtime Exemption Met Despite Over 80% Nonexempt Work Performed
Debbie Tam The U.S. Court of Appeals for the Sixth Circuit recently ruled that a district director of operations qualified for …
Form 1040 “800-Pound Gorilla” When It Comes to Employment Tax Modernization, Legal Expert Says
A former Associate Tax Legislative Counsel at the Treasury Department said the Form 1040 individual income tax return is the “800-pound …