• Required “down payments” from taxpayers who submit “offers in compromise” when trying to settle outstanding tax debts at a discount.
• Increased corporate estimated tax payments for the largest corporations (i.e., assets of $1 billion or more).
• Modification of qualification rules for tax-free corporate spin-offs.
• Modified definition of wage limit for Section 199 manufacturing deduction.
• New reporting requirements for payers of tax-exempt bonds.
More to come? A “trailer” tax law is also expected to extend certain tax credits and deductions that expired at the end of last year. We’ll keep a close watch on the proceedings.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/7202/under-the-radar-tax-law-changes "