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U.S. Senators Jay Rockefeller (D-West Virginia) and Roy Blunt (R-Missouri) introduced S.B. 1133, "New Markets Tax Credit Extension Act of 2013" in June 2013 to permanently add New Market Tax Credits to the Internal Revenue Code, however the program expired in January 2014 without the bill passing. [14] [15] The program does continue.
The R&D Tax Credit was originally introduced in the Economic Recovery Tax Act of 1981 sponsored by U.S. Representative Jack Kemp and U.S. Senator William Roth. [1] Since the credit's original expiration date of December 31, 1985, the credit has expired eight times and has been extended fifteen times.
Fiscal sponsorship can enable projects to share a common administrative platform with a larger organization, thus increasing efficiency. In addition to legal status, sponsors can provide payroll, employee benefits, office space, publicity, fundraising assistance, and training services, sparing projects the necessity of developing these resources and allowing them to focus on programmatic ...
Generally, taxable income for a corporation is gross income (business and possibly non-business receipts less cost of goods sold) less allowable tax deductions. Certain income, and some corporations, are subject to a tax exemption. Also, tax deductions for interest and certain other expenses paid to related parties are subject to limitations.
Costco has issued a recall for a cold and flu medication, sold at its stores at the end of 2024, over concerns of contamination.. The retail giant, in an advisory issued on Jan. 2, said Kirkland ...
IRS computers routinely make adjustments to correct mechanical errors in returns. In addition, the IRS conducts an extensive document matching computer program that compares taxpayer amounts of wages, interest, dividends, and other items to amounts reported by taxpayers. These programs automatically issue 30-day letters advising of proposed ...
A common stomach bug is surging, according to new data from the US Centers for Disease Control and Prevention.. In the week of December 5, there were 91 outbreaks of norovirus reported, up from 69 ...
“I want you to write down the name of every single person you’ve had unprotected sex with.” The nurse held out a pen. She was stern and no-nonsense.