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Tag Archive for tax purposes

The Stealthy Increase In The Tax Cuts And Jobs Act Of 2017

Ever since the Reagan Administrative, tax brackets have been indexed for inflation. This avoids bracket creep when taxpayers move into a higher tax bracket because inflation pushes up their income. The thinking is that inflation increases are not real increases in earnings, so the rate tables should be indexed to avoid tax increases arising solely from inflation. This seems like less of an issue today with relatively tame inflation rates, but remember that inflation went into the teens in some years in the 1970’s making bracket creep a big issue. Read more

New I-9 Form, Employment Eligibility Verification, Required By January 22, 2017

Annette Nellen

There are a lot of tax and related forms! Here is an update about one required by all employers when they hire an employee. Form I-9, Employment Eligibility Verification, has been updated (as of 11/14/16) and the new version must be used by January 22, 2017 (see news release from USCIS). “Among the changes in the new version, Section 1 asks for “other last names used” rather than “other names used,” and streamlines certification for certain foreign nationals.”

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