New Housing Stimulus Bill — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
A new housing stimulus bill is working its way through Congress. The Senate version of the bill (H.R. 3221), which differs from the one passed by the House, includes the following seven tax provisions: (1) Extension of net operating loss carrybacks from two years to four years; (2) modified tax rules for real estate investment trusts (REITs); (3) refunds of alternative minimum tax (AMT) and research credits for businesses in loss positions; (4) a new standard property tax deduction for nonitemizers; (5) a new tax credit for taxpayers who buy single-family, foreclosed homes; (6) additional tax relief for victims of hurricanes Rita and Katrina; and (7) an increase in the overall allocation to mortgage revenue bonds.
Mindy Mayo, an employment tax expert and frequent speaker on this topic, will explain which workers are entitled to travel time pay and at what rate. She will explain the tracking and paperwork necessary to compensate the traveling employee correctly....Click here to find out more.