Topics: Tax Reform

Treasury Department Withdraws Regulations Increasing Estate Tax Burden on Family Businesses

In a positive development for NATSO members and family businesses throughout the country, the Treasury Department has formally announced that it will withdraw the so-called "Section 2704 regulations" on family business valuation. These regulations would have increased the estate tax (aka "death tax") burden on family businesses. More

NATSO Joins Coalition in Opposing Border Adjustment Tax

NATSO joined a coalition of more than 120 retailers and trade associations representing millions of jobs in opposing the border-adjustment tax (BAT) proposal in the House Republican’s tax reform plan. More

NATSO, Family Business Coalition Urge Repeal of Death Tax

NATSO joined more than 132 small business and advocacy organizations across the United States in supporting the Death Tax Repeal Act of 2017, which would end the federal estate tax. More

NATSO Opposes Changes to Estate Tax

NATSO has been working with the Family Business Coalition to oppose the Department of Treasury's proposed changes to estate and gift tax valuation discounts. As a practical matter, the proposed changes -- which are still be evaluated and have not been finalized -- will significantly change family businesses' succession plans and make it harder for family owned businesses to transition to the next generation. More

NATSO Urges Congress to Maintain LIFO as Acceptable Accounting Method

NATSO urged members of the House Ways and Means Committee to recognize the severe economic consequences that could result from repealing or modifying the last-in, first-out (LIFO) accounting method and maintain it as an acceptable inventory accounting method. More

IRS Proposes Updates to Highway Vehicle Excise Tax Rules

The IRS on March 31 issued proposed regulations intended to update highway vehicle excise tax rules in light of legislative changes and court decisions in recent years. More

NATSO Urges Senate Vote on Death Tax Repeal

NATSO joined more than 112 associations representing small businesses across the United States in urging the Senate to vote on the House passed Death Tax Repeal Act of 2015 (H.R. 1105), which would end the federal estate tax. More

December 2015 Tax Changes: What Is of Importance to Truckstops and Travel Plazas Members Only Join or Login

In December 2015, President Obama signed into law a series of tax changes that are important to NATSO members. More

Potential Tax Code Changes of Importance to Truckstops and Travel Plazas Members Only Join or Login

In the coming years, Congress will begin considering a comprehensive overhaul of the U.S. tax code, including potential revisions to a variety of tax previsions that are critical to NATSO members’ operations. More

Heavy Highway Vehicle Tax Payments Due Aug. 31

Owners of heavy highway vehicles are reminded to file their next federal highway use tax return with the Internal Revenue Service (IRS) by Aug. 31. More

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