Welcome to the IMA Tax Policy Blog. The blog format reflects our efforts to provide IMA members with timely, relevant and thought provoking information in a form that is accessible for easy reference. IMA’s Tax Policy Blog will be updated on a regular basis. Weekly news update emails will be sent out to notify subscribers of new information posted on the blog. IMA members are welcome to submit material for the blog, or request specific information. Simply email Editor Stefany Henson at shenson@ima-net.org with your information or request. Editorial submissions are subject to review. 

Tuesday
Mar252014

Time May be Running Out – March 31 is an Important Deadline

Health Care Law Considerations for 2014

For most people, the Affordable Care Act has no effect on the 2013 income tax return they are filing in 2014. However, some people may need to make important decisions by the March 31, 2014 deadline for open enrollment.

Below are five things about the health care law you may need to consider soon.

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Thursday
Mar202014

The Affordable Care Act: What’s next for employers

A free White Paper from IMA member McGladrey …

The Affordable Care Act (ACA) introduces three new concepts to the employer-provided health insurance marketplace: minimum essential coverage, minimum value and affordability. Employers of all sizes need to understand how these concepts and other key changes may affect their decisions regarding health insurance.

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Thursday
Mar202014

IRS Has $760 Million for People Who Have Not Filed a 2010 Income Tax Return

Refunds totaling almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a federal income tax return for 2010, the Internal Revenue Service announced today. However, to collect the money, a return for 2010 must be filed with the IRS no later than Tuesday, April 15, 2014. “The window is quickly closing for people who are owed refunds from 2010 who haven’t filed a tax return,” said IRS Commissioner John Koskinen. “We encourage students, part-time workers and others who haven’t filed for 2010 to look into this before time runs out on April 15.”

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Wednesday
Mar122014

NAM Protects Manufacturers’ Right to Engage in Advocacy

The IRS is considering a proposal that would prevent the NAM and other trade associations from advocating on behalf of our members. As the voice of the 12 million men and women who make things in the United States, the NAM refuses to be silenced. The agency’s proposed rules would infringe on our First Amendment rights as well as those of our members and the public,‹an unacceptable action.

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Wednesday
Mar122014

Impact of the Capital Gains Tax

There are many problems with the capital gains tax, says Kyle Pomerleau, an economist at the Tax Foundation.

First of all, it is a tax on income that was already taxed when it was earned originally.

• When an individual earns a wage, that wage is taxed by the state and federal governments. He then takes what is left and purchases stock. When he sells that stock and realizes a gain, that profit (the difference between the value of the stock at time of sale and time of original purchase) is again taxed.

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