Taxes

House Speaker Nancy Pelosi, D-CA, (R) and US Senate Minority Leader Chuck Schumer, D-NY, and the … [+] Trump administration failed to reach a deal this week on coronavirus. (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images) AFP via Getty Images Congress is in a stalemate over the next round

Computer keyboard enter key with a magic quick fix button concept for it support, technical … [+] assistance and customer service getty Did you get the wrong amount in your stimulus check? Help may be available sooner than you think. Initially, the Internal Revenue Service (IRS) advised that individuals who received the wrong payment amount

Taxes and staking are two topics that have a murky history together due to lack of staking specific guidance issued by the IRS. How staking should be taxed is already a controversial issue (How Staking Tezos May Generate ‘Rental’ Income). When staking income should be taxed is an even more pressing issue because it affects

Last puzzle piece. getty In this episode of Willis Weighs In, Benjamin M. Willis, Tax Notes Federal contributing editor, discusses carried interests with partnership tax expert Monte A. Jackel. Monte and Ben speculate on what the new regulations are expected to look like and provide their opinions on potential IRS overreaches likely to be overturned if potentially tenuous arguments

As benefits expire, rent comes due, the school year looms and states struggle, Washington’s warring factions are racing to rescue the economy—and their political fortunes. Tom Williams/CQ-Roll Call, Inc via Getty Images, Mario Tama/Getty Images, Alex Wong/Getty Images, Doug Mills-Pool/Getty Images. Design by Forbes The coronavirus pandemic has taken an inconceivable toll on the American

Democrats and Nancy Pelosi have been fighting to provide tax relief for homeowners hurt by the Trump … [+] Tax plan of 2017. Getty Images One of the most annoying parts of the Trump Tax Plan (TCJA 2017) was the $10,000 cap on State and Local Tax (SALT) Deductions when filing your federal tax returns.

Economic Security Planning, Inc. Today’s column addresses questions about possibly filing early to Avoid potential future rate cuts, determining which income years SSA is using to calculate your benefits and potential effects of part time work while receiving disability benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president

TOPLINE NPR reported Tuesday that thousands of foreign workers who were in the U.S. on temporary visas erroneously received $1,200 stimulus checks in the error-prone process of distributing financial aid across the country to blunt the coronavirus pandemic’s economic impact. Foreign workers in at least 129 countries have received stimulus payments, according to NPR. Getty

Sonoma County, California, USA getty Belair Woods LLC (TCM 2020-112, July 22, 2020) is one of a flurry of Tax Court decisions on conservation easements that have been flying through the Tax Court. I understand that there are a lot more coming. It is the third decision in the case. The first two did not

The United States Capitol Building, Washington DC. You can see the capital dome. Building reflecting … [+] on the water fountain in front of the capital. getty n 1969 a 38-year-old lawyer in the Treasury Office of Tax Legislative Counsel contemplated the social ferment gripping the United States. Surging opposition to the war in Vietnam, combined with

United States Flag Capitol State Building during Covid19 2020 novel coronavirus Pandemic, 3d virus … [+] medical model, Washington DC, USA getty Tax Notes reporter Alexis Gravely talks with Edward Karl, vice president of taxation at the American Institute of CPAs, about tax changes made and considered by Congress in the wake of the COVID-19 pandemic.

getty Back-to-school may look different in 2020, but that doesn’t mean that parents and teachers won’t be shopping. According to the National Retail Federation, consumers could spend a record amount in 2020 to prepare students for school and college as they buy more laptops and computer accessories for online shopping.  “By any measure, this is an

Economic Security Planning, Inc. Today’s column addresses questions about whether to continue delaying retirement benefit till 70 or take them early due to the covid pandemic, how much the earnings test would reduce retirement benefits and requirements for spousal benefit eligibility. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and

null Getty As parents learn how many days (if any) their children will be in a physical school this fall, many are preparing to provide care for their school-age children during at-home days. Single-parent families and two-earner married couples will face the biggest challenges of balancing paid full-time work and caregiving.  Some parents will have

The seal of the Internal Revenue Service (IRS) hangs on a podium during an IRS Criminal … [+] Investigation 100th year anniversary event at the agency’s headquarters in Washington, D.C., U.S., on Monday, July 1, 2019. On July 1, 1919, the IRS commissioner crated the Intelligence Unit to investigate widespread allegations of tax fraud. Photographer:

Most California’s think they already pay high taxes, and they are not wrong. But a tax bill, AB 1253 (Santiago), would impose even higher taxes, and retroactively to January 1, 2020. If passed, high income Californians would pay another 1% on income over $1,181,484, 3% on income over $2,362,968, and 3.5% on income over $5,907,420.

getty If you find yourself clicking over to do some online shopping more than before, you’re not alone. Web sales are up from last year in the U.S., reaching $73.2 billion as compared with $41.5 billion a year earlier. That’s true even though the U.S. gross domestic product (GDP) was down a record 33% in the second quarter,

Economic Security Planning, Inc. Today’s column addresses questions about potential increases due to continuing to work after filing, eligibility for spousal benefits, filing on the record of a younger spouse and whether the WEP and the GPO will be invoked by a foreign pension. Larry Kotlikoff is a Professor of Economics at Boston University and

Recognizing the recession’s depth and persistence, the Federal Reserve is keeping interest rates low. But only more spending can provide the economic boost we need, and Congress must act before its August 7th recess. WASHINGTON, DC – JULY 30: Senate Majority Leader Mitch McConnell (R-KY) is swarmed by reporters as … [+] he leaves the

UNITED STATES – AUGUST 31: Historic Broad Street shops, Rome, Georgia (Photo by Carol M. … [+] Highsmith/Buyenlarge/Getty Images) Getty Images The controversy over syndicated conservation easements tax shelters has raised its ugly head in the Congressional race in the 14th District in Georgia. Barring a blue wave miracle, representation of the district in Congress