Tag Archive for Consolidated Appropriations Act

Consolidated Appropriations Act, 2021 – An Important Question To Ask

Consolidated Appropriations Act, 2021

A Tax Advisor sent me a message yesterday stating he was providing me with the full text the House Of Representatives published on the Consolidated Appropriations Act, 2021. As I looked at this monstrous bill of 5593 Pages, I was struck by the fact the government has only provided a truncated version of the bill that ended on Page 3126. I asked him, ” Where are the other 2467 Pages of the bill that are missing from this government publication?

This House of Representative Bill 133 was negotiated during the holidays when the majority of Congress and “the people” have not had the opportunity to read it yet.

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Written by | Posted in 2021 • TaxConnections

Increase In Rate Of Withholding Of Tax On Dispositions Of US Real Property Interests

Larry Stolberg

On December 18th, President Obama signed H.R. 2029, using the tax (the “Protecting Americans from Tax Hikes Act of 2015”) and spending bills (Consolidated Appropriations Act, 2016) to fund the government for its 2016 fiscal year.

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Written by | Posted in 2016 Tax Changes • Canada • FIRPTA • Real Estate

PATH Act ITIN Renewal Requirements: All ITINs issued before 2013

TaxConnections Member Larry Stolberg

On December 18th, President Obama, signed H.R. 2029, the tax (the “Protecting Americans from Tax Hikes Act of 2015”) and spending bills (Consolidated Appropriations Act, 2016) to fund the government for its 2016 fiscal year.

The PATH Act ITIN renewal requirements: individuals who were issued Individual Taxpayer Identification Numbers (ITINs) before 2013 to renew their ITINs on a staggered schedule between 2017 and 2020 either in person before an IRS employee or a certified acceptance agent or by mail under procedures to be developed. Documentation proving identity, foreign status and residency is required for renewal. The Act also provides that an ITIN will expire if an individual fails to file a tax return for three consecutive years.

Similar rules apply to individuals residing outside the United States such as Canadians who applied for ITINS and file U.S. tax returns reporting their net rental income from U.S. real estate. It’s important to keep in mind that the

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Written by | Posted in Individual Taxpayer ID Numbers • ITIN • PATH Act • Tax Policy