November 16, 2017

News Roundup

Why the House Tax Bill Could be a 'Bonanza' for Advisers The tax bill unveiled Nov. 2 has far-reaching implications for financial advisers and their clients, from an overhaul of individual tax rates to the elimination of useful tax strategies and...
November 15, 2017

IRS LB&I Launches Compliance Campaigns

The IRS Large Business and International division has announced the identification and selection of 13 campaigns. This is a significant milestone for LB&I in the campaign effort. LB&I is moving toward issue-based examinations and a compliance...
November 14, 2017

New for 2017 Filing Season: Taxpayers Must Show Health Coverage

For the first time, the IRS will require taxpayers filing returns in 2018 to indicate if they had health coverage under the Affordable Care Act (ACA). The IRS indicated it won’t accept electronically filed tax returns that do not include the...
November 13, 2017

Small Business Owners Aren't Happy with Government. Here's How South Carolina Feels.

Washington's ongoing showdown over tax reform appears to be doing little to buoy the nation's small business owners, a majority of whom say regulations and other aspects of government are far more important to their day-to-day operations. That's...
November 12, 2017

Gov. McMaster Calls Trump Tax Plan a “Win for South Carolina”

Gov. McMaster is lending his support to the Trump Administration’s tax reform proposal, the “Tax Cuts and Jobs Act.” “For too long, our tax code has been overcomplicated and uncompetitive, placing an outsized burden on...
November 11, 2017

South Carolina Says Amazon’s Sales Tax Obligation Over Five Years is $500 Million

South Carolina will be out $500 million if Amazon doesn't start collecting sales tax as required by state law, South Carolina's Department of Revenue said in a motion filed Nov. 8. The motion said that Amazon owes South Carolina $57 million in...

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