getty Congress is making some progress on a COVID relief package. If it advances, it would be the first significant stimulus action from Congress since the Coronavirus Aid, Relief, and Economic Security Act or the CARES Act was signed into law in March of 2020. A second relief bill was introduced and passed in the House
Taxes
Economic Security Planning, Inc. Today’s column addresses questions about potential future survivor’s benefits a spouse could receive in the event of the record holder’s death, when divorced spousal benefits might be available and filing options when eligible for both retirement and widow(er)’s benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the
In this installment of Willis Weighs In, Benjamin M. Willis, contributing editor for Tax Notes Federal, and Jasper B. Smith, executive editor for commentary at Tax Notes, discuss the fundamentals of tax planning. About the Guests Benjamin M. Willis is a contributing editor for Tax Notes Federal. He has worked in PwC’s national mergers and acquisitions and international tax services
Topline To avert a looming government shutdown this weekend, the House of Representatives Wednesday passed a continuing resolution that will keep the government running and give lawmakers more time to pass a comprehensive coronavirus relief bill and a $1.4 trillion omnibus budget bill for the 2021 fiscal year. House Majority Leader Steny Hoyer (D-MD) talks
US Senator Joe Manchin (C), Democrat of West Virginia, speaks alongside a bipartisan group of … [+] Democrat and Republican members of Congress as they announce a proposal for a Covid-19 relief bill on Capitol Hill in Washington, DC, on December 1, 2020. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty
Coca-Cola bottles are seen in this illustration photo taken in Krakow, Poland on October 8, 2020. … [+] (Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images) NurPhoto via Getty Images Tax Notes legal reporter Ryan Finley discusses the IRS’s major victory in the Coca-Cola case and its future implications for transfer pricing cases. This post has been edited
TOPSHOT – US President Donald Trump looks on during a ceremony presenting the Presidential Medal of … [+] Freedom to wrestler Dan Gable in the Oval Office of the White House in Washington, DC on December 7, 2020. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images) AFP via Getty Images
Spark token airdrop comes with an unintended tax bill that recipients need to be aware of. People who hold XRP on certain exchanges as of December 12, 2020 are receiving an equivalent amount of Spark token via an airdrop. Spark is the native token of the Flare network. Spark Airdrop Taxes According to the IRS Rev.
NEW YORK, NY – MAY 24: Former Treasury Secretary & White House Economic Advisor Larry Summers is … [+] interviewed by FOX Business’ Maria Bartiromo on May 24, 2017. (Photo by Robin Marchant/Getty Images) Getty Images For decades, conventional wisdom said that high levels of federal debt created a significant drag on the economy by
ASSOCIATED PRESS When I read in the Wall Street Journal that Bob Dylan had sold his entire songwriting catalog, I immediately wished that I had been in on the tax planning for that. Here is the press release from Universal Music Publishing. Sir Lucian Grainge, Chairman and CEO of Universal Music Group, said, “As someone
Worth an estimated $700 million, former Zappos CEO Tony Hsieh reportedly died without a will. Reports say Hsieh’s family requested a court to name family members as administrators of his estate. Without a will or trust, who gets your assets depends on state law, with spouse, children, parents, and siblings being the usual suspects. But
Economic Security Planning, Inc. Today’s column addresses questions about breakeven analysis and delaying filing, eligibility for divorced spousal benefits, suspending disability benefits at full retirement age and spousal benefit combined with foreign pensions. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets
Big Brother style camera over the entrance to the United States Tax Court getty Nothing like packing several issues into one decision. That’s what we have in the Duffy case. Since the Tax Court will not be issuing any opinions until after Christmas I decided to look at the court’s top hits for 2020. I reached out
Houston, Texas has some of the highest effective property tax rates in the country. Image by David Mark from Pixabay The pandemic has allowed more people to work from home and surveys show that many want to make their remote worker status permanent. That gives the opportunity for some folks living in higher tax states
getty As more and more states legalize marijuana, pressure has been growing for Congress to take some action. This week, the House passed legislation that would end the federal ban on marijuana. The Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) garnered support from both sides of the aisle, passing with a 228-164 vote in
NETHERLANDS, Rotterdam: Dutch party leaders Paul Tang (PvdA), Hans van Baalen (VVD), Dennis de Jong … [+] (SP), Esther de Lange (CDA) , Sophie In ‘t Veld (D66) and Marcel de Graaff (PVV) attend a debate at the Erasmus University in Rotterdam on May 19, 2014 in preparation for the upcoming European elections. (Photo by
DANVILLE, PENNSYLVANIA, UNITED STATES – 2020/10/10: A Trump 2020 re-election sign and an American … [+] flag are displayed on a piece of farm equipment in Valley Township, Montour County, Pennsylvania. (Photo by Paul Weaver/Pacific Press/LightRocket via Getty Images) Pacific Press/LightRocket via Getty Images In the aftermath of Joe Biden’s election, there’s lots of attention
Has your CPA firm embraced technology like RPA bots that help accountants tackle mundane tasks? Getty Need business advice? Call your CPA firm. “This year was the perfect case study for why companies should consider leaning on their CPAs as key advisors,” says Carla McCall, managing partner with regional powerhouse AAFCPAs in Westborough, Massachusetts. CPA
Economic Security Planning, Inc. Today’s column addresses questions about whether widow’s benefits increase when a late spouse’s previous spouse passes away and no longer collects on the late spouse’s record, whether it’s possible to change when checks arrive and taking spousal benefits before retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University
WASHINGTON, DC – DECEMBER 01: Senate Minority Leader Charles Schumer (D-NY) holds a news conference … [+] at the U.S. Capitol. (Photo by Tasos Katopodis/Getty Images) Getty Images By embracing a $908 billion bipartisan pandemic relief plan, congressional Democratic leaders may have jump-started long-dormant talks over short-term economic aid. A nudge by President-elect Joe Biden