Valerie Dickerson of Deloitte Tax LLP discusses key developments in state tax policy from 2022 that will likely remain relevant in 2023, including new incentives from the CHIPS and Science Act. – Forbes – Taxes Read More
Today’s Social Security column addresses questions about whether spousal benefits are half what a spouse is actually receiving, the availability of benefit estimates if you’re already collecting another benefit and who can file for children’s benefits. – Forbes – Taxes Read More
Once they finally pick a Speaker, the first bill House Republicans will adopt likely would make it harder for the IRS to help taxpayers file their returns and easier for tax dodgers to cheat. – Forbes – Taxes Read More
You may have heard about new tax reporting rules for businesses using third-party payment apps such as PayPal, Cash App, Venmo, etc. This has caused some confusion for app users, but we’re here to help you understand how it will (or won’t) affect your taxes next year. These changes were…
Nana Ama Sarfo sits down with Grace Perez-Navarro, director of the OECD’s Centre for Tax Policy and Administration, and Tax Notes International’s Person of the Year, to discuss her career highlights, lessons, and hopes for the OECD’s future. – Forbes – Taxes Read More
The Washington Post is finally exposing Social Security’s malfeasance. But it’s just scratching the surface. – Forbes – Taxes Read More
Updated for tax year 2022. Campaign contributions total hundreds of millions of dollars, and they continue to rise. With this level of fundraising, one question is sure to come to mind: Are political contributions tax deductible? The short answer? No. Most political contributions, whether local, regional, or national, are not tax-deductible…
Updated for tax year 2022. No matter what self-employment looks like for you, you’re responsible for ensuring the taxes on your net earnings are paid to the Internal Revenue Service (IRS). And the self-employment tax (SE tax) is part of that. Officially known as the Self-Employment Contributions Act tax, the SE tax…
The intersection of taxes and bankruptcy present interesting issues. A recent bankruptcy case demonstrated this by considering whether Earned Income Tax Credit refunds can be exempt from creditors in a bankruptcy proceeding. The case shows how the answer can depend on where you live. – Forbes – Taxes Read More…
The SECURE 2.0 Act of 2022, which was included in the $1.7 trillion omnibus spending bill signed by President Biden on December 29, 2022, has a small gift… – Forbes – Taxes Read More
When it comes to the IRS it may be best to apply a version of Hanlon’s Razor that substitutes “bureaucracy” for “stupidity.” – Forbes – Taxes Read More
In 2015 and 2016 he had significantly higher dividend income ($718,317 in 2015 and 292,068 in 2016), which might suggest that he had at least $50 million or more in stocks at the start of 2015 but sold most of these in 2015 and 2016. – Forbes – Taxes Read…