The IRS is expanding who can file for free with the government for the 2025 tax filing season, doubling the number of states that can participate. Direct File, the government’s free electronic filing software launched this year after the Democrats’ 2022 tax-and-climate law, is now a permanent option. It will be open to 30 million taxpayers at the start of the next filing season. Its creation has disrupted the tax-prep software industry, which has lobbied for decades against the development of such a tool. Republicans in Congress and tax-prep companies argue that Direct File is unnecessary and duplicative of free public and private tax-preparation software. Find answers to your FAQs from Erin Slowey: https://lnkd.in/eYwQ4VKY
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Bloomberg Tax provides comprehensive global research & news services enabling tax professionals to get the timely, accurate and in-depth information they need to plan and comply with confidence. Our flagship Bloomberg Tax platform combines the proven expertise and perspectives of leading tax practitioners in our renowned Tax Management Portfolios with integrated news from the industry-leading Daily Tax Report, authoritative analysis and insights, primary sources, and time-saving practice tools.
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Puerto Rico Tax Law and Incentives, CPA, CGMA, JD, LL.M.
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Updates
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For expert insights on TCJA provisions and the latest in tax policy, join Lindsay Bartholomew, Ashley Wilson, Lisa Wolski, and Lisa Zarlenga virtually on October 23 at 1:00 PM ET: https://lnkd.in/eXNHKFyK
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Tax professionals need to be accurate. Can you truly trust AI to get it right? Register for our webinar in collaboration with Deloitte to hear from Bobby Puglia, Sharad J., and Chris Little on how AI is transforming tax: https://lnkd.in/e66ZNprJ
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Common policy fights—deficit spending, the size of individual and family tax credits, and how to encourage business investment—will be back in 2025 tax overhaul talks, but finding balance to satisfy all sides could be more complicated than ever, a former GOP tax writer said. Rates for income, capital gains, and estate taxes were among the big focuses during the fiscal cliff clash in 2012. Then the 2017 GOP-led tax law brought greater attention to overhauls in international, individual, and corporate tax rates. Ahead of next year’s expiration of most of the 2017 individual provisions, lawmakers will be forced to grapple with how to offset the cost of the package, and they’re facing a global tax landscape that’s changed radically since 2017. Read more from Chris Cioffi and Samantha Handler: https://lnkd.in/ec2GwmyS
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Bloomberg Tax reposted this
This year's elections will be key to the outcome of negotiations for key provisions from the Tax Cuts and Jobs Act of 2017 that will expire at the end of 2025—House and Senate majorities could be narrow, elevating intraparty differences and further complicating negotiations. For an in-depth overview of potential tax policy outcomes, watch the replay of our webinar with Chris Cioffi, Kim Dixon, and Danielle Parnass: https://lnkd.in/eCzzREEH
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Election Day is approaching; are you up to speed on tax policy proposals? Join Lindsay Bartholomew, Ashley Wilson, Lisa Wolski, and Lisa Zarlenga on October 23 for an in-depth conversation to help you prepare for what's ahead: https://lnkd.in/eXNHKFyK They will discuss and answer your questions on: ✔ Corporate tax rate ✔ R&D expenses ✔ Interest deduction ✔ FDII, GILTI, and BEAT ✔ Qualified Business Income deduction ✔ Provisions affecting high-net-worth individuals
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Bloomberg Tax reposted this
We welcomed Mike Bloomberg to our office this week to give employees the opportunity to hear from him directly about the values that define Bloomberg – in particular, focusing on customer service and giving back to the community. He spent time with our sales and product teams where he heard about our latest innovations for Bloomberg Law, Bloomberg Tax, and Bloomberg Government, and he offered his perspective on building market-disrupting technology and delivering value to clients. We were all inspired by his journey, philanthropy, and words of encouragement.
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2025 will be a pivotal year for tax policy, no matter who wins. Key provisions of TCJA expire at the end of 2025, and the next Congress and president must come to the negotiating table if the cuts are to be extended. Learn more about what we're watching ahead of the 2024 election and our tax-focused policy events from our CEO, Josh Eastright.
The outcome of the 2024 election is critical across industries, and our customers are looking to Bloomberg Industry Group to help them plan ahead. They’re relying on our 250 journalists to tell them what legislation is likely to be front and center in the next Congress and the hot-button issues at the state level where they need to pay attention. As we approach Election Day, take a look at some of the stories we’re following closely.
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Bloomberg Tax reposted this
This year's elections will be pivotal for tax policy. For an in-depth analysis of how things may play out, watch the replay of our webinar on what to watch as key TCJA provisions expire: https://lnkd.in/eiA9WPc6
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An overwhelming majority of C-suite executives say that generative artificial intelligence is critical to addressing compliance challenges brought on by OECD Tax's global minimum tax. Survey results in a report authored by KPMG found that 86% of corporate executives agree that complying with the 15% global minimum tax, also known as Pillar Two of the international tax deal, will be costly. Learn more about the findings from Lauren Vella: https://lnkd.in/eKXWpsQa