mediaphotos | E+ | Getty Images As our elected officials debate how best to address a national debt approaching $30 trillion while simultaneously increasing spending levels and addressing wealth inequality, it should not be surprising that tax policy is at the forefront of the discussion In that context, there has been an especially intense focus
Spencer Platt | Getty Images News | Getty Images Federal unemployment benefits lapsed on Labor Day. But there’s good news for Americans who’ve been waiting weeks or months for that aid to arrive: They can still collect back pay past the cutoff date. Workers who haven’t yet applied for the federal assistance can still do
Nikki E. Dobay, a partner with Eversheds Sutherland (US) LLP’s tax practice group, discusses the SALT cap workarounds for passthrough entities that many states have adopted and possible coming developments for those policies. 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
The hottest thing in residential development is built-for-rent single-family communities (BFR), and billions of investment dollars are lined up to serve the growing need. Investors seeking yield are having difficulty finding enough built homes to buy, so they are shifting more attention to “ground-up” development of brand-new rental single-family neighborhoods. The land-rush is intense. Land
Dr. Ashish Jha, the dean of Brown University’s School of Public Health, applauded President Joe Biden‘s push to increase vaccine mandates covering millions of U.S. workers. “People don’t want to change jobs, people don’t want to be inconvenienced,” said Jha on CNBC’s “The News with Shepard Smith.” “I do think a vast majority of people
The semiconductor shortage is affecting consumers’ ability to buy cars, smartphones and virtually all electronics — and there may be little relief in sight. According to economist John Rutledge, the Covid-19 pandemic will continue to inflict pain on the global supply chain and contribute to the semi logjam into 2023. “The nature of epidemics is
Elizabeth Holmes, founder of Theranos Inc., left, arrives at federal court in San Jose, California, on Tuesday, Aug. 31, 2021. David Paul Morris | Bloomberg | Getty Images The fraud trial of former Theranos CEO Elizabeth Holmes came to a grinding halt when a juror disclosed to the court that he had been potentially exposed
Varo Money’s mobile banking application. Varo Bank has more than tripled its valuation after gaining a national banking charter last year, CNBC has learned. The company is set to announce Thursday that it raised $510 million in a Series E round led by hedge fund Lone Pine Capital and including dozens of new and existing
Getty Images There has been a recent flood of “math error” notices from the IRS, which have been confusing for taxpayers and difficult to resolve, financial experts say. The IRS sent roughly 9 million such alerts from Jan. 1 through July 15, up from 628,997 in the same period last year, according to Taxpayer Advocate
Trevor Williams | DigitalVision | Getty Images If you’re like most people, you probably assume you know more than you think you do, even if you don’t realize it. That false sense of security allows us to be decisive in the face of great uncertainties. But when it comes to investing, that can backfire, according
Congress is heading into a heated debate about how much taxes should be raised to finance President Biden’s Build Back Better agenda. While pragmatic Democrats may not agree with every proposal being considered, there is one that the whole party should unite behind: closing the step-up basis loophole. When investors sell an asset, such as
Here’s a tip of the 10-gallon hat to the American past. This retreat in Bigfork, Montana, draws on the heritage of the Old West with its rugged chinked-log construction. But beyond the exposed beams and reclaimed wood, the log cabin home is all new West – and a modernized model for western living today. The
A TSA agent checks travelers through security at John Wayne Airport in Santa Ana, CA on Tuesday, January 26, 2021. Paul Bersebach | MediaNews Group | Getty Images Air travelers who refuse to wear masks could soon face fines of up to $3,000. The Transportation Security Administration is planning to double fines for travelers who
In this article LULU Lululemon shares surged more than 13% in extended trading Wednesday after the athletic apparel maker reported fiscal second-quarter profit and revenue that topped analysts’ expectations. Consumers are shopping Lululemon stores and the company’s website for its sports bras, jogger pants and leggings for their stay-at-home wardrobes. But many are also seeking
A man looks at GameStop at 6th Avenue on February 25, 2021 in New York. John Smith | Corbis News | Getty Images GameStop staged a stunning intraday comeback from its post-earnings sell-off on Thursday as retail investors looked past the lack of clarity on turnaround plans and piled into the meme star. Shares of
Theranos founder Elizabeth Holmes and her partner Billy Evans leaves the Robert F. Peckham U.S. Courthouse after the delivery of opening arguments in her trial, in San Jose, California, September 8, 2021. Peter DaSilva | Reuters When you hobnob with celebrities and titans of society, you need good jewelry. And former Theranos CEO Elizabeth Holmes
In this article MA The MasterCard logo on a smartphone arranged in Saint Thomas, Virgin Islands. Gabby Jones | Bloomberg | Getty Images Mastercard has agreed to acquire blockchain analytics start-up CipherTrace, in the latest sign of how major companies are warming to cryptocurrencies. The payments giant said Thursday it entered into an agreement to
JGI/Jamie Grill It appears most workers have to wait years for a company’s 401(k) matching contributions to become entirely theirs. The majority (82%) of employers that offer traditional 401(k) plans say they match a portion of their workers’ account contributions, according to a report from human resources firm XpertHR. However, the research shows that just
Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C. Bloomberg | Bloomberg | Getty Images The top 1% of Americans may be dodging as much as $163 billion in annual taxes, according to a report from the U.S. Department of the Treasury. This estimate widens the so-called tax gap — the shortfall between
Today’s column addresses questions about potential retirement benefit rate increases at full retirement age (FRA), spousal benefits based on the record of someone receiving Social Security disability benefits and maximizing benefits after retiring earlier than expected. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,