Taxes

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January 30, 2020 

Push for Real-Time Sales Tax Remittance Resurges in Massachusetts

Massachusetts Governor Charlie Baker’s 2021 budget proposal includes a plan to require businesses to remit sales tax more quickly. This is the third time he’s pushed for faster sales tax remittance since taking office in 2015. Will the third time be the charm? The latest plan applies to electronically remitted sales and use tax, local option...…

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January 27, 2020 

2020 Income Tax Season Opens as IRS Begins Accepting Returns

The deadline to file a 2019 tax return and pay any tax owed is Wednesday, April 15, 2020. More than 150 million individual tax returns for the 2019 tax year are expected to be filed, with the vast majority of those coming before the April 15 tax deadline.

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January 21, 2020 

Grant Thornton Launches Indirect Tax Platform

The platform bridges the various indirect tax management functions into one simplified workflow, easing the compliance burden in addition to providing insight for strategic management.

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January 16, 2020 

2020 Income Tax Refund Chart Shows When You’ll Get Your IRS Refund

Updated: January 15, 2020 – 10:26 pm EST The IRS says it will officially start accepting income tax returns on January 27, 2020. The good news is that there’s no reason to get refund loans or other such services, since you can get your refund in as little as 10 days if you file early...…

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January 15, 2020 

IRS Says Discharged Student Loans Not Counted as Income

Taxpayers within the scope of this revenue procedure will not recognize gross income as a result of the discharge, and the taxpayer should not report the amount of the discharged loan in gross income on his or her federal income tax return.

Deductions

January 15, 2020 

Which Expenses are Deductible in 2020

In our very long and complex tax code, tax deductions come in all shapes and sizes, and have a lot of sticky rules attached to them. For example, business expenses must be ordinary (common and accepted in an industry) and necessary ...