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. 

Thursday
Jul102014

Hands-on ERP demo series: evaluating three top ERP systems

From IMA member McGladrey

Modern organizations are leveraging technology to sell more, win faster and deliver results. Join us for an overview of three top ERP systems, Microsoft Dynamics AX, Microsoft Dynamics GP and NetSuite, and learn how each can help your organization increase efficiency.

Microsoft Dynamics GP R2: Workflow and Purchase Requisitions – Wednesday, July 30, 2014

The recent release of Microsoft Dynamics GP 2013 R2 has provided significant feature enhancements throughout the system. In this webcast, we will discuss two of the larger areas of change in this release: Workflow and Purchase Requisitions.

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Thursday
Jul102014

House to Consider Bonus Depreciation Tax Extender This Week

Permanently extending bonus depreciation would grow the economy, lift wages, and raise revenue

This week, the U.S. House of Representatives will consider permanently extending 50 percent bonus depreciation, otherwise known as 50 percent expensing. This provision allows businesses to immediately write off, or expense, half of their investment in equipment and short-lived structures. If made permanent, it would induce firms to acquire and maintain a larger stock of equipment; the added capital would expand domestic production, raise productivity and wages, and increase employment, according to latest report from the nonpartisan Tax Foundation.

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Wednesday
Jul022014

Many Employers Can Qualify for Substantial Payroll Tax Relief

Many businesses can now resolve past worker classification issues at a low cost by voluntarily reclassifying their workers. Better yet, they don’t have to wait for an IRS audit to do so.

By prospectively reclassifying workers, making a minimal payment and meeting a few other requirements, eligible businesses can achieve greater certainty for themselves, their workers and the government. More than 1,500 employers have applied to participate in the IRS Voluntary Classification Settlement Program (VCSP) since it was launched in September 2011.

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Wednesday
Jul022014

Obamacare Increases Marginal Tax Rate on Labor by Six Percentage Points

The Affordable Care Act (ACA) increases marginal tax rates on labor by 6 percent, making it one of the largest tax increases of the past seven decades, explains Andrew Lundeen of the Tax Foundation. Economist Casey Mulligan writes that the ACA represents the largest tax increase in a single piece of legislation. Mulligan is talking about implicit marginal tax rates, which he defines as “the extra taxes paid, and subsidies forgone, as the result of working.” There should be no surprise, Mulligan says, that legislation which taxes jobs and incomes would result in less income and fewer jobs.

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Wednesday
Jun252014

U.S. Workers Face a Tax Burden of 31.3 Percent

Average Worker Pays over $16,000 in Income and Payroll Taxes

U.S. wage earners face a 31.3 percent tax burden on pre-tax income according to the latest analysis from the nonpartisan Tax Foundation. Although this burden is high, the average across the 34 OECD countries is slightly higher, at 35.8 percent.

Using the latest data from the OECD, the report hones in on U.S. tax policy and explains the breakdown of the average U.S. worker’s tax burden, how it compares to other developed countries, and why workers, instead of employers, bear the weight of the tax burden.

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