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Trump v. Mazars USA, LLP, 591 U.S. ___ (2020) was a landmark US Supreme Court case involving subpoenas issued by committees of the US House of Representatives to obtain the tax returns of President Donald Trump, who had litigated against his personal accounting firm to prevent this disclosure, although the committees had been cleared by the United States Court of Appeals for the District of ...
Public Company Accounting Oversight Board, 561 U.S. 477 (2010), was a 5–4 decision by the U.S. Supreme Court in which the Court ruled that laws enabling inferior officers of the United States to be insulated from the Presidential removal authority with two levels of "for cause" removal violated Article Two of the United States Constitution.
The Tax Reform Act of 1969 (Pub. L. 91–172) was a United States federal tax law signed by President Richard Nixon on December 30, 1969. Its largest impact was creating the Alternative Minimum Tax , which was intended to tax high-income earners who had previously avoided incurring tax liability due to various exemptions and deductions.
The Internal Revenue Code governs the application of tax accounting. Section 446 sets the basic rules for tax accounting. Tax accounting under section 446(a) emphasizes consistency for a tax accounting method with references to the applied financial accounting to determine the proper method. The taxpayer must choose a tax accounting method ...
An empirical study shows that state-level corruption and corporate tax avoidance in the United States are positively related. According to the average effect of an increase in the number of corporate corruption convictions, it is observed that state-level corruption reduces Generally Accepted Accounting Principles (GAAP) tax expense. [50]
When former President Donald Trump was in office, he signed the Tax Cuts and Jobs Act (TCJA) into law in 2018. This law changed the tax code to cut taxes for shareholders and individual taxpayers ...
The Republican-controlled Senate replaced the text of the original House bill with a number of tax increases, and the bill became law after President Ronald Reagan signed it. A lawsuit was filed by an individual named Garrison R. Armstrong, claiming that TEFRA violated the Origination Clause in Article One of the United States Constitution ...
The United States Revenue Act of 1964 (Pub. L. 88–272), also known as the Tax Reduction Act, was a tax cut act proposed by President John F. Kennedy, passed by the 88th United States Congress, and signed into law by President Lyndon B. Johnson. The act became law on February 26, 1964.