This U.S. presidential campaign, and particularly that of Democratic Senator Bernie Sanders of Vermont, moved the issue of income inequality front and center. Now there are some new numbers in that department, and they wont make many people happy.
Inflation-adjusted tax brackets for the 2017 tax year, based on the average inflation index for the 12-month period ending on August 31, 2016, show a slight uptick for the year ahead, according to Wolters Kluwers George Jones.
The Organization for Economic Co-operation and Development issued last October the final Base Erosion and Profit Shifting reports that are expected to fundamentally change the course of international taxation and transfer pricing for all multinational enterprises.
The rules for claiming net operating losses to offset income tax liabilities can vary from state to state and are proving to be a big challenge for many companies, especially as both the economy and corporate profitability improve.