Internet Sales Tax?

On Monday May 6, the Senate passed the Market Place Fairness Act (the “act”) that allows state and local governments to subject online shopping to state sales taxes. The act now moves to the House for a vote. If it passes the House, it will go to President Obama for…

Continue reading

Obama’s 2014 Revenue Proposal

President Obama’s administration released its fiscal year 2014 revenue proposals (the “Proposal”). The Proposal has many provisions that affect both the individual taxpayer and Trusts and Estates. The following is a brief synopsis of the important provisions. (1) Individual Retirement Accounts (“IRAs”). (a) Allow owners of traditional IRAs and qualified…

Continue reading