Taxes

While President Biden has called climate change an existential threat, his proposals for addressing it remain modest relative to the enormity of the problem. In part, that’s because he’s taken off the table a carbon tax, the solution favored by many economists and climate experts. And one reason may be opposition from some in the

Today’s column addresses questions about a strategy to maximize a survivor’s benefit, whether SSA recalculates benefit rates due to continued SSA taxed income and whether the WEP applies to pensions based on totalization agreements. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

Andrew Dana, a partner with Parker Poe Adams & Bernstein LLP, discusses the Supreme Court case NCAA v. Alston; name, image, and likeness rights; and how both could affect taxation of college athletes. This transcript has been edited for length and clarity.  David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes

Senate Democrats have promised that both the $579 billion Bipartisan Infrastructure Framework and $3.5 trillion budget blueprint they are advancing this week will be “fully paid for.” While there’s a case for borrowing to finance the most pro-growth infrastructure investments when interest rates are low, lawmakers’ commitment to fiscal discipline is reassuring at a time

As we move into the summer months, many organizations trading in goods can take a period of reflection to assess how well their post-Brexit international supply chains have been working.  Current position For many, the run-up to the end of the Brexit transitional period on 31 December 2020 involved hasty preparations for the start of

Today’s column addresses questions about which benefits on a worker’s record are subject to the earnings test, how survivor benefits are determined and whether having filed a restricted application for spousal benefits only mean you must file for retirement benefits at the same office. Larry Kotlikoff is a Professor of Economics at Boston University and

Free tuition at public colleges and universities was a popular topic during the 2020 presidential campaign and President Biden has proposed making community college tuition free as part of his American Families Plan. But depending on how the program is designed, it could end up helping the students who need it the least. A number of states

The Kardashians are becoming wealthier still. Sisters Kourtney, Kim and Khloe Kardashian won their suit for royalties from the makeup line Kardashian Beauty. After a five-year legal battle, a California State Appeals Court judge agreed that the Kardashians were owed $11.5 million in royalties from Haven Beauty and subsidiary Hillair Capital, who had licensed the

Albert Einstein once said that a workable definition of insanity is doing the same thing over and over again and expecting different results. Sign me up as crazy: Let’s talk about the federal gasoline tax (again). By way of reminder, the federal gas tax is imposed at a rate of 18.3 cents per gallon for

I’m proud to be a certified public accountant. My profession is highly regarded. We are known to be financial experts. We are trusted and respected. We are relied upon as advisors, counselors and consultants to help guide our clients through business problems ranging from mergers and acquisitions to succession and estate planning. CPAs do these

The $3.5 trillion budget blueprint unveiled earlier this week by Senate Democrats would fund many policies from President Joe Biden’s American Jobs and Families Plans not covered by the $579 billion Bipartisan Infrastructure Framework. But among many worthwhile public investments is a new proposal that should give lawmakers pause: a costly expansion of Medicare paid

President Joseph Biden and Vice President Kamala Harris spoke at the White House this afternoon. Both expressed excitement that the first Advanced Child Tax Credit payments has gone out to eligible taxpayers.  “It’s a reflection of our belief that the people of this country who need a tax cut aren’t the folks at the top –

Topline The U.S. Treasury and the Internal Revenue Service announced Thursday morning families of nearly 60 million children have received $15 billion dollars in the first monthly payments under the recently expanded Child Tax Credit—one of the major antipoverty initiatives in President Joe Biden’s American Rescue Plan passed in March—and here’s what to know if

Excitement is building this week as the new Advanced Child Tax Credit launches. Yet as the July 15 rollout nears, there are still taxpayers who are unsure about how this new program will impact them. “The much-anticipated child tax credit payments being released this week, while certainly welcomed, are still broadly misunderstood by most parents. Our

Have you ever considered living in a Caribbean tax haven, becoming a citizen, maybe even ditching your main passport? If you could implement such a plan without having to pay taxes and could do it quietly with appreciated crypto, wouldn’t that be alluring? Plan B Passport seems to think so. The company offers clients who

Taoism tell us that mindful strategic inaction, expressed in the concept of wu wei (literally “doing nothing” in Chinese), is usually the most effective approach to the challenges of living. It’s often the same with employee stock options. Waiting as long as possible to exercise stock options—i.e. doing nothing and letting the value grow until

In this installment of Willis Weighs In, Tax Analysts’ Jasper Smith, Executive Editor for Commentary, talks with Tax Notes contributing editor Benjamin M. Willis and Jillian S. Brennan, 2021 valedictorian of the Villanova University Charles Widger School of Law, about their article on zero-basis debt and writing about tax. Here are a few highlights from their discussion, edited for length

Liz Armbruester, Avalara’s senior vice president of global compliance, discusses the recent EU VAT e-commerce reforms and their impact on businesses and consumers worldwide. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: VAT update. On July

Taxpayers who want to opt out of the 2021 advance child tax credit payments — and later this year, those who want to update their information with the IRS so that the payments are accurate and delivered to the correct address — are directed to an identity verification process that uses facial recognition technology. Nonfilers who must

If you want to know why a wealth tax would be an administrative nightmare, take a look at the dispute over the estate of pop star Michael Jackson, which recently was resolved in federal tax court—12 years after his death and following eight years of litigation that made Jarndyce v. Jarndyce look like a trip