Tax law Changes in 1999

会計税務情報2000年1月号
永野森田公認会計士事務所

Tax law Changes in 1999

1999 年12月17日にクリントン大統領は新たな改正税法を承認し、即日実施されました。就中、注目に値するのは次の3点です。いずれも、実質的増税策の一環 で、納税者にとっては不利な内容となっています。１、 個人所得税の予定納税額の増額２、 割賦販売による税繰り延べ制度の廃止３、 債務免除益に関する金融機関の報告義務更に、カルフォルニア州においても改正がありましたが、こちらは税負担の軽減を目指す内容でした。詳しくは、以下の 説明をご読み下さい。

Federal tax changes in 1999.
1, Modification of Individual Estimated Tax Safe Harbor
Taxpayers with prior year’s AGI above $150,000 who make estimated tax payments based on 　
prior year’s tax must do so based on 108.6% of prior year’s tax for 2000. The rate will be
increased to 110% for year 2001. It was 106% under the old law.

2, Prohibition of Use of Installment Method by Accrual Method Taxpayers
Effective for sales or other disposition s entered into on or after 12/17/99, the installment method
of accounting is prohibited for dispositions of property that would otherwise be reported for　　
federal income tax purposes using an accrual method of accounting .

3, Expanded Reporting of Cancellation of Indebtedness Income
Effective on or after 12/31/1999, any discharge of indebtedness of $600 or more must be
reported to IRS by any organization, a significant of trade or business of which, is the lending of
money. A copy of the same information must be furnished to the person whose debt was
discharged by January 31, of the year following the discharge.

California tax changes in 1999
Minimum Franchise Tax
California eliminated the minimum franchise tax for the first and second taxable years for
corporations that organize on or after January 1, 2000. Also, prepayment requirement is
eliminated for all corporations, effective January 1, 2001.

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更新日: 2000年01月01日