Individual Tax

December 2016

Tax Cuts Are in the Air

By | December 15, 2016|Categories: Taxing Thoughts|Tags: , |

By Liubou Partnaya (Tax Senior Associate, Green Hasson Janks) With Donald Trump as President-elect, proposals presented during his campaign are brought to the forefront. Among his proposals are sweeping changes to our income tax laws. Here is a quick overview of individual and business tax reform positions. Major highlights for individual taxpayers include: Simplifying the [...]

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September 2016

Home Mortgage and Equity Loan Interest Deduction Limitations

By | September 1, 2016|Categories: Taxing Thoughts|Tags: , , , , , |

By Jennie Tieu (Senior Manager, Green Hasson Janks) Most taxpayers are aware that the mortgage interest deduction is limited to $1 million of acquisition indebtedness and $100,000 of home equity indebtedness on a qualified residence. These limitations apply to a single taxpayer or married taxpayers who jointly file their tax return. In the case of a [...]

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February 2014

House Ways and Means Committee Releases Tax Reform Proposal

By | February 27, 2014|Categories: Taxing Thoughts|Tags: , , , , , , , |

By: Farshad Yashar On Tuesday, February 26, 2014, House Ways and Means Committee chairman Dave Camp released his long-awaited draft legislation on tax reform. The draft is a 979 page report titled "Tax Reform Act of 2014." If enacted, the draft legislation would usher the single biggest overhaul of the tax code since 1986. The [...]

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April 2013

Proposed Tax Changes from the “Green Book”

By | April 23, 2013|Categories: Taxing Thoughts|Tags: , , , , , , , |

The United States Treasury recently released the so-called "Green Book," which is the Administration's Fiscal Year 2014 Revenue Proposals. The Green Book is the President's wish-list of tax changes, and as usual, this year's wish-list is a cornucopia of tax proposals - past and present. The proposals include tax changes for businesses and individuals. This [...]

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February 2012

The IRS “Dirty Dozen”

By | February 22, 2012|Categories: Taxing Thoughts|Tags: , , , , , , , , , , , , |

On February 16th, the IRS published its list of top 12 “tax scams” for 2012 dubbed the “Dirty Dozen.” “Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen,” said IRS Commissioner Doug Shulman. “Scam artists will tempt people in-person, on-line and by e-mail with misleading promises about lost refunds and [...]

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