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Archive for Annette Nellen

House Budget Plan And Tax Reform

Speaker Ryan’s email message and blog post today notes that the House Republican budget plan “paves the way for transformational tax reform.” The Budget Committee has a markup session this morning. When Speaker Ryan tours the New Balance factory in Massachusetts on July 20 he will “promote the historic tax reform plan currently being developed by the House, Senate, and Trump administration.” [7/17/17 press release]  Read more

Are California Taxes That High?

Are California’s taxes high? I was asked this question recently by a reporter with Politifact California. Assemblymember Travis Allen who is running for governor had stated that California had the highest taxes. His website says that California has the highest personal income tax and state sales tax rates. [Chris Nichols article of 7/11/17]

If just looking at the rate structure, those are correct statements. The Federation of Tax Administrators posts helpful and current tables of the PIT and sales tax rates among the states. Read more

Ryan Says Tax Reform Will Happen In 2017

On June 20, 2017, Speaker Paul Ryan spoke to the National Association of Manufacturers about tax reform. He has a 1 minute YouTube video of highlights here. The tag line is “Tax reform is happening. Not next year or next Congress. It is happening now, in 2017.”

Per his email message of 7/5, “We’re not talking about some rinky-dink, watered-down version of reform where the status quo basically remains as is. No, instead, imagine transformational tax reform that closes decades of loopholes, shakes up the IRS, and actually encourages businesses to stay and grow here in America.” Read more

Senator Hatch And Jump Starting Tax Reform

Senator Hatch, chair of the Senate Finance Committee, has done the following regarding tax reform:

Study and hearings on corporate integration as a way to reduce the corporate tax burden. The proposal (per statements rather than a report) is a dividends paid deduction with withholding. Read more

20th Anniversary IRS Restructuring Commission Report

In the 1990s, tax reform was about as big of a focal point as it is today.  Some of the reasons were rate reduction and international competitiveness. There were a few concerns about IRS activities, such as a technology modernization effort that cost over $2 billion with little results. A commission was created by P.L. 104-52 (11/19/95). This 17-member group was the National Commission on Restructuring the IRS, co-chaired by Senator Kerrey (D-NE) and Congressman Portman (R-OH). Read more

One Year Anniversary Of Republican Tax Reform Blueprint

Annette Nellen

On June 24, 2016, the House Republicans released their “A Better Way” blueprint for tax reform. Obviously as part of an election strategy. On November 9, 2016, with Republican victories all around, I thought there would be fast track activity to draft legislative language to be released early in the 115th Congress. We haven’t seen any legislative language yet although I suspect some exists. Read more

Testimony To Senate Small Business Committee For AICPA

Annette Nellen

On June 14, 2017, I had the privilege to testify on behalf of the AICPA before the Senate Committee on Small Business & Entrepreneurship. The title of the hearing – Tax Reform: Removing Barriers to Small Business Growth. A goal of the hearing was for this committee to help the Senate Finance Committee know that they want to be sure tax reform helps small businesses and that such businesses are not forgotten in efforts to reduce the corporate tax rate. Read more

5th Annual IRS-SJSU Tax Institute Conference – June 22

Mark Your Calendars for The Upcoming Event…

5th Annual IRS-SJSU Small Business Tax Institute

June 22, 2017—REGISTRATION NOW OPEN

Thriving in the Digital Economy – Best Practices for Small Businesses and Their Tax Advisers

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IRS Says FAQs Not Legal Authority – Finally!

Annette Nellen

In May 2017, the IRS Small Business Division issued a memo to field directors to remind them that FAQs and other items posted to the IRS website are not legal authority unless published in the Internal Revenue Bulletin (IRB)! [SBSE-04-0517-0030 (5/18/17)]

Finally!!

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5th Annual IRS-SJSU Tax Institute Conference – June 22

Mark Your Calendars for The Upcoming Event…

5th Annual IRS-SJSU Small Business Tax Institute

June 22, 2017—REGISTRATION NOW OPEN

Thriving in the Digital Economy – Best Practices for Small Businesses and Their Tax Advisers

Read more

Gig Workforce and Portable Benefits

Annette Nellen

On May 25, 2017, Senator Warner (D-VA) and Congresswoman DelBene (D-WA) introduced H. 1251 and H.R. 2685, Portable Benefits for Independent Workers Pilot Program Act. It calls for $20 million of grant dollars for states to study and pursue innovative ways to provide portable benefits to “the growing independent workforce.”

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Learn About Tax Automation, Robots, And More At SJSU

Annette Nellen

This interview is one in a series of interviews conducted by Kat Jennings, CEO of TaxConnections with Professors and Program Directors of University Tax Graduate Programs. Over the years, Kat has been asked often about the best schools to attend to continue ones advanced tax education. It is with great pleasure to have the opportunity to introduce this leading tax graduate program to you.

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