On December 4th, 2015, the United States Congress passed the Fixing America’s Surface Transportation (FAST) Act. Soon after, the legislation was signed into law by President Barack Obama. As is the case with many large transportation bills, this bill contained provisions that affected many unrelated areas of law.Most notably, the FAST Act contained a tax provision that has major consequences for those who owe a lot money to the Internal Revenue Service (IRS): If you have seriously delinquent tax debt, the United States federal government may now be able confiscate your passport. Here, our
Selling a small business can be complicated. There are many things you need to consider in order to ensure that your legal rights and financial interests are adequately protected. Depending on the circumstances surrounding your specific small business, there is a chance that you could face a large tax bill as a result of the sale.
As reported by Fox 31 Denver, GOP leaders in the House of Representatives recently revealed key details of their tax reform plan. While this tax plan may not be signed into law, at least in its current form, it has already passed an important procedural vote. While this bill overhauls key elements of the corporate tax code, it also affects individuals. As such, all American taxpayers should have a basic understanding of how this plan might impact their wallets. Here, our experienced Denver tax law attorneys highlight some of the key provisions and policy changes contained within the