Taxes

WASHINGTON, DC – JUNE 30: Senate Majority Leader Mitch McConnell (R-KY) speaks during a press … [+] conference following the weekly Senate Republican policy luncheon in the Hart Senate Office Building on June 30, 2020 in Washington, DC. McConnell stated that a briefing could be arranged for Senators to get more information on the report

MIAMI SPRINGS, FLORIDA – JULY 16: Jose Abreu (C) and Shanita Rojas (R) protest in support of … [+] continuing federal supplemental unemployment benefits. Unemployment claims in Florida are increasing faster than the rest of the country. (Photo by Joe Raedle/Getty Images) Getty Images Senate Republicans and the White House may have reached a deal

getty The owners of the venerable “Tony Luke’s” cheesesteak franchise in Philadelphia have been charged with conspiracy to defraud the Internal Revenue Service (IRS), tax evasion, and aiding and assisting in filing false tax returns. According to the indictment, Anthony Lucidonio Sr., 82, and his son, Nicholas Lucidonio, 52, both of New Jersey, owned and operated Tony

ALBANY, NEW YORK, UNITED STATES – Among the most-populous 10 states, state and local tax revenue has … [+] increased the most in New York, much of it driven by tax hikes, especially in New York City. (Photo by Lev Radin/Pacific Press/LightRocket via Getty Images) Pacific Press/LightRocket via Getty Images Every year, the U.S. Census

Courier delivery food service at home. Man courier delivered the order no name bag with food. getty The coronavirus pandemic has magnified the problem of nonreporting and underreporting of gig work income by taxpayers who haven’t been getting information reporting from the online platforms they use to coordinate their work. Few workers seem to understand

getty Earlier today, the Senate passed S. 3841 by unanimous consent. The bill, which was first introduced by Senators Chuck Grassley (R-IA), Sherrod Brown (D-OH), Ron Wyden (D-OR) and Tim Scott (R-SC) in May, is titled “A bill to protect 2020 recovery rebates for individuals from assignment or garnishment, and for other purposes.” According to Sen. Grassley,

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

TOPLINE As the clock ticks for Congress to pass another stimulus package to inject life into an economy battered by coronavirus, reports emerged late Wednesday night as to what Republicans are likely to propose in their version of the bill on Capitol Hill Thursday. Here’s what’s known so far: Sen. Mitch McConnell ASSOCIATED PRESS KEY

The California Court of Appeals has upheld a whopping verdict against Roundup. In 2018, jurors awarded $289 million to a man they say got cancer from Roundup weedkiller. Plaintiff Dewayne Johnson was awarded $39 million in compensatory damages, and $250 million in punitive damages. Later, the Judge reduced the $250 million punitive verdict to just under $40 million That left

Getty When I was younger, a family friend gave us a pile of old dresses. Hand-me-downs weren’t new to us, and my mom was an amazing seamstress who could make almost anything look terrific (she handmade both of my prom dresses and most of my church dresses). But I didn’t have my mom’s talent. I

The Fed’s new municipal lending powers are not the solution to the massive fiscal problem facing states and cities. That’s up to Congress, and the focus needs to be on overcoming damaging and stubborn Republican opposition to increased state and local aid. State and local governments face a massive revenue shortfall, and more revenue is

M&A – acronym from wooden blocks with letters, mergers and acquisitions M&A concept, top view on … [+] grey background Getty As vulnerable businesses continue to struggle with the effects of COVID-19, there has been an uptick in mergers and acquisitions. Whether these deals have unintended tax consequences, however, may depend on choices that the buyer,

WASHINGTON, DC – JULY 20: U.S. President Donald Trump talks to reporters while hosting Republican … [+] Congressional leaders and members of his cabinet in the Oval Office at the White House July 20, 2020 in Washington, DC. Trump and his guests talked about a proposed new round of financial stimulus to help the economy

WASHINGTON, DC – JULY 20: U.S. President Donald Trump talks to reporters while hosting Republican … [+] Congressional leaders and members of his cabinet in the Oval Office at the White House July 20, 2020 in Washington, DC. Trump and his guests talked about a proposed new round of financial stimulus to help the economy

Celebrate more tax-free income with a ROTH IRA in 2020. Getty The Roth IRA has been around for more than 20 years, and many people may take them for granted. Even modest contributions over time can translate into a substantial amount of tax-free income throughout your retirement. The uber-rich may wish for the tax-free income

Economic Security Planning, Inc. Today’s column addresses questions about when the earnings test no longer applies, getting divorced spousal benefits, when widow’s and other survivor’s benefits can be paid and how years of substantial covered earnings can reduce the effect of the Windfall Elimination Provision (WEP). Larry Kotlikoff is a Professor of Economics at Boston

Economic Security Planning, Inc. Today’s column addresses questions about when widow(er)’s benefits can be paid to a surviving spouse, how filing for early retirement benefits can affect other benefits taken later and taking early retirement benefits before divorced spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president

With stimulus checks to process, truckloads of unopened mail, and staff unavailable to resolve flags … [+] on electronically filed returns, the IRS has fallen behind issuing 2019 tax refunds. Andrew Harrer/2019 Bloomberg Finance Hope you had a Happy Tax Day. I’m still waiting for my refund. I filed my 2019 individual income tax return

The Mercedes-Benz eActros — coming to a charging station near you. dpa/picture alliance via Getty Images Transitioning to a low carbon economy is in progress. It is not political. According to the Yale Program on Climate Change Communication, a majority of Americans of both parties are in favor. Many sectors of the economy will face an accelerated drive

WILMINGTON, DELAWARE – JULY 14: Democratic presidential candidate former Vice President Joe Biden … [+] speaks at the Chase Center July 14, 2020 in Wilmington, Delaware. Biden delivered remarks on his campaign’s ‘Build Back Better’ clean energy economic plan. (Photo by Chip Somodevilla/Getty Images) Getty Images Experts are now warning of the likely impact of