230 Top 2017 Tax Headlines

2017 was a year of many tax changes at the local, state, and federal levels. In this episode, I discuss some of the major 2017 tax stories. 7. In 2017, IRS begin contracting with third party collection agencies to collect outstanding tax debt. In episode 198, I discuss the collection agencies and the procedures they follow to attempt to collect the outstanding tax debt. 6. Portland, Oregon’s Arts and Music Fee (tax) is ruled constitutional by the Oregon Supreme Court. The tax is $35 per person for individuals making more than $1,000 per year. Taxpayers are exempt for wage earners under the age of 18, taxpayers whose income is from social security or Oregon Public Employee Pension, and taxpayers making less than $1,000 per year. 5. State Budgets made the news in 2017. Many states did not have a budget in place when the state’s new fiscal year started. 4. Seattle, Washington city council passed an income tax for wealthy taxpayers ($250,000 (single) and $500,000 (married taxpayers) was later found to be unconstitutional. 3. Soft (sugar) tax made the headlines in Philadelphia and Chicago where a tax placed on sugary or soft drinks by the ounce. Chicago later nullified their soda (sugar) tax. 2. Amazon third party sellers sales and use tax on Amazon Marketplace platform made the headlines when the Multi-State Tax Commission and many states begin offering sales and use tax amnesty programs. I discuss the Multi-State Tax Amnesty Program in episode 216. 1. Congress passed tax reform just in time for year-end. The majority of the tax law starts in 2018 and 2019.