Tracking refunds; an extra deadline; the Advocate’s report; and other highlights from our favorite tax bloggers.
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January 16, 2020
Upcoming Events January 16, 2020
In the blogs: Less than 100 days
By Jeff Stimpson      4 min read
Tracking refunds; an extra deadline; the Advocate’s report; and other highlights from our favorite tax bloggers.
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High-tech taxman who loves hockey is Putin’s new premier
By Jake Rudnitsky and Evgenia Pismennaya      3 min read
Vladimir Putin is putting his trust in an obscure technocrat with little political experience to be prime minister and revive Russia’s flagging economy, as he prepares the country for the most significant constitutional overhaul in a generation.
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Trump tax fight with House put on hold for McGahn ruling
By Andrew Harris and Laura Davison      3 min read
House Democrats’ lawsuit seeking President Donald Trump’s federal tax returns was put on hold as a judge said he’s waiting for a higher court’s ruling in a separate case on whether Congress can make ex-White House counsel Don McGahn testify.
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Trump’s SALT cap fuels a wealth exodus from high-tax states
By Martin Z. Braun      3 min read
Some of the hardest evidence yet indicates that the 2017 Republican tax law is pushing money and people from high-tax U.S. states like New York and New Jersey and into low-tax states including Florida.
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White House plans tax cut, hopeful of a Republican House majority
By Laura Davison      2 min read
The White House continues to work on a tax-cut plan in hope that Republican lawmakers will be in control of Congress after the 2020 elections, President Donald Trump’s top economic aide Larry Kudlow said.
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Tax pros’ top worry for 2020 is late client info
By Daniel Hood
Far fewer are concerned about the Tax Cuts and Jobs Act, unlike last year.
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IRS improves online Withholding Estimator to reflect new W-4
By Michael Cohn      3 min read
The Internal Revenue Service unveiled an enhanced Tax Withholding Estimator on its website Tuesday, designed to help workers fill out the new W-4 withholding form and hopefully avoid the problems seen last year when many taxpayers found themselves owing more taxes or receiving less of a tax refund than they expected.
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Family-owned businesses urged to sell before the party ends
By Ben Steverman      5 min read
For the owner of a multimillion-dollar company, selling by the end of 2020 could result in a much smaller tax bill than striking a deal in 2021 under new rules.
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New Jersey governor signs bill to bypass SALT cap on small business tax deductions
By Michael Cohn      2 min read
New Jersey Governor Phil Murphy signed legislation Monday giving small businesses in the Garden State a workaround for the $10,000 cap on state and local tax deductions under the Tax Cuts and Jobs Act.
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Meet the new W-4
By Daniel Hood
The brand-new withholding form for 2020 will present taxpayers with challenges, and tax pros with opportunities, says ADP's Pete Isberg.
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