The Republican push for a broad tax overhaul faces a big hurdle this week as senators must approve a budget bill which would clear the way for tax reform to pass the Senate with just GOP support. If at least 50 of the 52 Senate Republicans vote for the budget bill later this week, it will be an early victory …
Big changes are coming to our tax code. Yesterday, Wednesday September 27th, Republicans revealed their proposed changes which include changes to tax brackets, corporate tax rates, and pass-through business tax rates. According to Senate Majority Leader Mitch McConnell “This framework is focused on supporting American jobs, on making taxes fairer and on growing families’ paychecks.” Personal Tax Brackets The proposed …
The Louisiana Department of Revenue has released Revenue Information Bulletin No. 17-015 which grants filing extensions to taxpayers whose homes, principal places of business, or critical tax records are located in any of the disaster areas declared by the president as a result of Hurricane Harvey. Affected Parishes For Louisiana Declared disaster areas include the following parishes: Beauregard, Calcasieu, Cameron, …
The GOP is closing in on a massive legislative rewrite for taxes which is set to be revealed on September 25th. The Trump administration has thus far kept the details tightly under wraps, and everyone is wondering “Will these changes be tax reform, or tax cuts?”. After the big reveal, bipartisan talks will begin to negotiate the specifics and details …
Governor John Bel Edwards has asked Congress to ease a restriction on benefits that victims of floods would receive from the Federal Government to help with rebuilding their homes. In a letter, The Governor told congress that the restriction has caused problems for Louisiana as we have tried to recover from the widespread flooding in 2016. In the aftermath of …
The 2017 Louisiana Second Amendment Weekend Sales Tax Holiday will take place from Friday, September 1 through Sunday, September 3. Act 453 of the 2009 Regular Session of the Louisiana Legislature enacted the “Annual Louisiana Second Amendment Weekend Holiday Act” that provides an exemption from state and local sales and use taxes on individuals’ purchases of firearms, ammunition and hunting …
The Louisiana Department of Revenue has sent out 9,500 letters to taxpayers urging them to claim the refunds before they are transferred to the state treasurer’s office. The total amount of unclaimed refunds is $8.6 million according to the state. The letters are dated July 21, 2017, however taxpayers have until September 6 to claim the refund before it is …
Louisiana Governor John Bel Edwards is set to meet this week with House Speaker Taylor Barras. During this meeting they will undoubtedly discuss the so-called Louisiana “Fiscal Cliff” which represents a drop, scheduled for next year, where temporary taxes collide with tax revenues to create an estimated $1.5 billion shortfall. Governor Edwards is hoping to address this shortfall before the …
The last thing on people’s mind following extreme adverse weather is their tax returns – filing taxes can be confusing enough, but accounting for storm damage and dealing with homeowners insurance can truly create a headache. Estimating Lost Property Value The biggest issue for people who suffered property loss is determining how much the value of their home declined and …
The IRS has announced that starting August 1st taxpayers will be able to schedule video conference appeals with IRS Appeals Officers at select offices. This program is currently being launched as a pilot, however the IRS believes this technology will provide greater access, efficiency, and flexibility to taxpayers so be on the lookout for this technological trend to expand in …
