In the third of a three-episode series, former senior Treasury official Chip Harter discusses his experience creating the international tax guidance for the Tax Cuts and Jobs Act and the evolution of those provisions. – ​Forbes – Taxes ​Read More  

Amber Heard’s case was personal, not business, so she probably cannot deduct her settlement payment to Depp or even her legal fees. If it was a business expense, a tax deduction would have made the payments much less painful. – ​Forbes – Taxes ​Read More  

As Mr. Streckfus puts it: The reality is that organizations that deserve exemption (real charities helping the poor and needy) usually don’t have much income to report so exemption from tax provides no benefit. – ​Forbes – Taxes ​Read More  

Cities are central to prosperity as hubs of innovation and growth, but they labor with persistent inequality, driven by America’s deeply entrenched and racially biased anti-urban policies and politics. – ​Forbes – Taxes ​Read More  

Both public and private companies would need to break out the amount of income taxes they pay at not only the federal and state level, but also in each foreign jurisdiction in which they operate. That emphasis on detailed, country-by-country reporting ratchets up the complexity level. – ​Forbes – Taxes…

Marie Sapirie reviews the 2022 tax policy achievements of Senate Majority Leader Charles E. Schumer, D-N.Y., including securing enough Republican support for the CHIPS and Science Act and the subsequent political maneuvering that resulted in passage of the landmark Inflation Reduction Act. – ​Forbes – Taxes ​Read More  

It’s getting too easy to cut taxes on your investments. Politicians who like to “close loopholes” are going to notice. – ​Forbes – Taxes ​Read More  

Tax Notes contributing editor Carrie Brandon Elliot examines how quantum computing could shake up the tax world. – ​Forbes – Taxes ​Read More  

Getting out of IRS penalties is sometimes more art than science. There are lots of different grounds, but one of the biggest and most misunderstood is that you had reasonable cause and acted in good faith. – ​Forbes – Taxes ​Read More  

Early on businesses either weren’t aware of the Employee Retention Credit (ERC) — or they embraced myths about ERC and why they didn’t qualify. Now, businesses know about ERC but they now have to grapple with myths as to why they do qualify. Sharpen your pencil and see if ERC…

In the second installment of a three-episode series, Jennifer Acuña, now with KPMG and former tax counsel for the House Ways and Means Committee, discusses how guidance for the Tax Cuts and Jobs Act is still evolving. – ​Forbes – Taxes ​Read More