Tag: taxes

House Approves 3 Tax Reform Bills; No Plans for Senate Action

Filed in Capitol Hill by on September 28, 2018 0 Comments
House Approves 3 Tax Reform Bills; No Plans for Senate Action

The House this week approved a package of three tax bills known collectively as “Tax Reform 2.0” that are intended to build on the enactment of last year’s Tax Cuts and Jobs Act. However, the Senate is not expected to act on any of the measures in this congressional session.

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House Republicans Introduce ‘Tax Reform 2.0’ bills

Filed in Capitol Hill, Tax Reform Toolkit by on September 11, 2018 0 Comments
House Republicans Introduce ‘Tax Reform 2.0’ bills

House Republicans yesterday unveiled their long-anticipated package of tax changes, which are intended to build on the enactment of last year’s Tax Cuts and Jobs Act. Known as Tax Reform 2.0, it is actually a package of three bills. The House Ways and Means Committee is expected to take up the bills quickly, possibly later this week.

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What You Need to Know About the 20% Pass-Through Deduction

Filed in Codes and Regulations, Tax Reform Toolkit by on September 4, 2018 0 Comments
What You Need to Know About the 20% Pass-Through Deduction

The Tax Cuts and Jobs Act signed into law late last year created a new section of the tax code that provides a 20% deduction for “qualified business income” generated by pass-through entities such as LLCs, partnerships and S-corporations. The IRS published proposed regulations to provide clarity to the law and NAHB breaks down what it means.

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Treasury Releases Draft Regulations for 20% Pass Through Entities

Filed in Codes and Regulations by on August 8, 2018 1 Comment
Treasury Releases Draft Regulations for 20% Pass Through Entities

The Treasury Department today released draft regulations for the new 20% pass through entity deduction under the Tax Cuts and Jobs Act of 2017.

The proposed regulations concern the deduction for qualified business income under Section 199A of the Internal Revenue Code.

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Why Federal Tax Reform Will Force States to Change Their Tax Codes

Filed in Capitol Hill by on October 10, 2017 0 Comments
Why Federal Tax Reform Will Force States to Change Their Tax Codes

As Congress presses forward with reforming our federal tax code, an often overlooked aspect is the vast majority of state tax codes that are directly linked to the federal tax code. This means that if federal tax reform is successful, many states will find their own tax code out-of-date, and some states will embark on their own tax reform process.

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Employers Face Earlier W-2 Deadlines, Higher Fines in 2017

Filed in Business Management, Economics by on December 12, 2016 0 Comments
Employers Face Earlier W-2 Deadlines, Higher Fines in 2017

As tax season approaches, it’s a good idea to keep two big payroll tax filing changes in mind: Jan. 31 is the new payroll tax filing date for 2016 W-2s and 1099 forms — a month earlier than the former filing date. The IRS has increased the penalties for: Filing to file the correct forms […]

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House GOP Tax Plan Would Impact Key Housing Tax Provisions

Filed in Capitol Hill, Multifamily by on June 24, 2016 3 Comments
House GOP Tax Plan Would Impact Key Housing Tax Provisions

House Speaker Paul Ryan and Ways and Means Committee Chairman Kevin Brady today unveiled the tax policy plank of a six-part House GOP policy agenda that would overhaul the tax code and affect important housing tax provisions.

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Tax Extenders Package Includes Key NAHB Priorities

Tax Extenders Package Includes Key NAHB Priorities

Congressional leaders early this morning released a $650 billion tax package that permanently renews certain NAHB housing tax priorities while providing a two-year retroactive renewal for others through the end of tax year 2016.

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Reminder: Moving Expense Deduction for Home Buyers

Filed in Codes and Regulations, Housing Finance by on August 21, 2015 1 Comment
Reminder: Moving Expense Deduction for Home Buyers

A recent tax tip from the IRS reminds home buyers about the deduction for moving expenses, which offers opportunity for home owners to reduce their taxes. The IRS note explains how home owners may be eligible to deduct the cost of their move on their federal tax return next year.

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Property Taxes are Largest Chunk of State and Local Tax Receipts

Filed in Economics by on July 27, 2015 0 Comments
Property Taxes are Largest Chunk of State and Local Tax Receipts

Property taxes accounted for a whopping $500 billion in state and local tax receipts during the annual period covering the first quarter of 2014 through the end of the first quarter of 2015, according to NAHB tabulations of the Census Bureau’s quarterly data.

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