Tax & Accounting News

The Weekly (Tax)Buzz - June 19, 2019

The Weekly (Tax)Buzz - June 19, 2019

If you feel like the news is tough to keep up with these days, you aren't alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from our favorite bloggers, US tax proposals, tax crime stories, and much more.

The (Tax)Buzz this week: More tax fraudsters, reasons why your high-tax state won't let you move out, attempts to improve the reputation of the IRS, and much more.

The Wall Street Journal: The rules on capital gains taxes can seem either straightforward or extremely complicated depending on the rate you qualify for. Here's what you need to know about capital gains tax that you probably don't know yet.

CNBC: Moving to a state with no income tax like Florida, Nevada, or Texas can be tempting for residents of high-tax states, but make sure you can actually prove the move is legitimate to an auditor.

Washington Examiner: Language to undo a change that accidentally increased taxes for some Gold Star families was attached to a recent bipartisan retirement reform package. It was supposed to pass the Senate before Memorial Day, but opposition from multiple Republican senators to other parts of the legislation have delayed progress.

Syracuse.com: Arkmallah Hilliard of Baltimore was sentenced to five years in federal prison for his role in filing “more than 400 fraudulent income tax returns that netted more than $900,000.”

Kiplinger: The IRS isn't exactly everyone's favorite government agency. Congress recently passed the Taxpayer First Act, and it could improve the IRS's bad reputation if the president signs it.

USA Today: Will the Federal Reserve cut interest rates this week for the first time in a decade? How do the trade war and the current state of the economy play into that decision?

NJ.com: Democratic lawmakers in New Jersey have axed progressive democratic Gov. Phil Murphy's state budget proposal and will instead introduce their own plan—for the second year in a row.

Fox Business: A new legislative initiative aims to expand the use of health reimbursement arrangements (HRAs) that will allow employees “to use pre-tax health arrangements to buy insurance.”

Houston Chronicle: Texas Governor Greg Abbott recently signed new legislation into law that will help homeowners see who is attempting to raise their taxes and how they can fight it.

The Orange Leader: A Louisiana court has issued an injunction against Joseph A. Gillies to ensure he can no longer prepare LA tax returns after pleading guilty to felony charges of tax evasion in 2018.

Did we miss a great article this week? Let us know in the comments below!

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Lauren Detweiler

Lauren Detweiler

I am equal parts marketer, traveler, and writer, and I've been doing all three for as long as I can remember. I have spent most of my time since graduating university traveling and working remotely in Africa and Europe. My passion lies in conveying the right messaging to the right people, and being a part of the CountingWorks and TaxBuzz team means I get to do that not only for our company, but for clients across the country as well.

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