getty Close study of the Tax Cuts and Jobs Act appeared to give a fantastic break to businesses with less than $25 million in gross receipts. It appeared that they could change accounting methods and write off their inventories. Lucien Gauthier of the Boston Tax Institute promoted the concept, as I explained in Tax Cut
Taxes
Rows of coin stacks with toy blocks among the receipts symbolizing value added tax getty This article is based on a reader’s suggestion: Design a VAT regime to help the U.S. fisc recover from the COVID-19 pandemic. Challenge accepted. The concept isn’t as outlandish as it first sounds. A review of U.S. history shows that
Congress spending and wasting your money. getty The coronavirus pandemic pushed the government into the proverbial corner, prompting it to borrow heavily from the future to ward off a serious threat today. Without this intervention, the U.S. economy would be in a much worse recession or possibly even a depression. Even though borrowing excessively may
getty If you have an uncashed tax check at the Internal Revenue Service (IRS), you’re not alone. Scores of taxpayers and tax professionals have been reaching out about uncashed checks. Making matters worse, the IRS has been sending out underpayment or failure-to-pay notices for those payments. First, you should know that this is clearly a
Forbes compared more than 750 locales in America, measuring everything from housing costs and taxes to healthcare and air quality. These are the top 25 cities for retirees. Before the Covid-19 pandemic, Timur and Pamela Lacey had flown from their Los Angeles-area home to Austin and Atlanta and were planning trips to Dallas, Savannah, Ga.,
Palestinian fighters with Ezz-Al Din Al-Qassam Brigades, the armed wing of the Hamas movement, rest … [+] on a sidewalk during a patrol in Khan Yunis in the southern Gaza Strip on January 26, 2020. (Photo by SAID KHATIB / AFP) (Photo by SAID KHATIB/AFP via Getty Images) AFP via Getty Images The Justice Department has
What do you do if you and a co-worker are hopelessly smitten? Is it okay to date and have a … [+] relationship? Employment lawyers urge caution. getty Is it ever okay to start a workplace romance? It’s an age-old question, the subject of countless comedies and dramas, and yet there are no easy answers.
WASHINGTON, DC – AUGUST 10: U.S. Treasury Secretary Steven Mnuchin speaks as White House Budget … [+] Director Russell Vought looks on during a news conference at the James Brady Press Briefing Room of the White House August 10, 2020 in Washington, DC. U.S. President Donald Trump was briefly evacuated from the room due to
Economic Security Planning, Inc. Today’s column addresses questions about when and how spousal benefits can become available, when survivor benefits are available and how the WEP and GPO can affect their availability and potential effects of remarriage on benefits based on an ex’s record. Larry Kotlikoff is a Professor of Economics at Boston University and
Millions of employees could be in for a rude surprise next April when they find out their home office isn’t deductible and the states can’t agree on who gets their money. Time to put a tax pro on speed dial? It’s very likely that you’re reading this from your home—even if you’re working. As the
Angel Gurria, General Secretary of the Organisation for Economic Co-operation and Development … [+] (OECD), gestures as he presents the OECD Economic Outlook at the OECD headquarters in Paris on May 21, 2019. – Global trade tensions and political uncertainty are weighing on the world’s economy, the OECD warned on May 21, 2019, cutting its
Economic Security Planning, Inc. Today’s column addresses questions about withdrawing an application after revising filing plans, potential effects of the Windfall Elimination Provision (WEP) and the Government Pensions Offset (GPO) and divergent SSA benefit estimates. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc,
getty Last week, the National Taxpayer Advocate promised that help was on the way for some taxpayers who had missing or incomplete stimulus check payments. Today, the Advocate delivered, explaining the kinds of problems that the Internal Revenue Service (IRS) will currently resolve, what some individuals need to do to receive a check, and how some
© 2019 Bloomberg Finance LP While a lot has been written about when the second stimulus check will go out, many are still waiting for some or all of their first stimulus check. Until now, taxpayers were pretty much on their trying to navigate the IRS website. Starting today, however, those still waiting for their
US President Donald Trump signs executive orders extending coronavirus economic relief on August 8, … [+] 2020. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) AFP via Getty Images Throughout the 3 ½ years of his presidency, Donald Trump has disrupted nearly every major institution of government, save one. He
The economy faces a major output gap, and executive orders can’t generate enough funding to address it. Only significant Congressional spending can provide the necessary level of funds. US President Donald Trump signs executive orders extending coronavirus economic relief, during a … [+] news conference in Bedminster, New Jersey, on August 8, 2020. (Photo by
ASSOCIATED PRESS On August 6, 2020, the Senate adjourned without passing a stimulus package. Senate Majority Leader Mitch McConnell (R-KY) wasn’t involved in the talks, leaving Senate Minority Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA) to work directly with Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows. As
ASSOCIATED PRESS On August 6, 2020, the Senate adjourned without passing a stimulus package. Senate Majority Leader Mitch McConnell (R-KY) wasn’t involved in the talks, leaving Senate Minority Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA) to work directly with Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows. As
WASHINGTON, DC – AUGUST 03: U.S. President Donald Trump makes remarks as he meets with U.S. Tech … [+] Workers and signs an Executive Order on Hiring Americans, in the Cabinet Room of the White House on August 3, 2020 in Washington, DC. The executive order bans federal agencies from firing American citizens or green
Payment notification. Serious unhappy elderly woman sitting together with her husband and looking at … [+] the document while holding it getty Well while Congress dithers our President takes action to give us some relief with an executive order a “modest, targeted action will put money directly in the pockets of American workers and generate