Taxes

Getty Are your accounts receivables piling up? With so many people out of work, many businesses are experiencing slow payers and (gulp) non-payers. If you’re not sure about the practical and tax aspects of handling those accounts, here are a few things to keep in mind. Don’t assume that you can send a Form 1099-C

Billionaire Jim Ratcliffe, chairman and founder of Ineos Group Holdings Plc, pauses during a news … [+] conference during the official launch event of the Team Ineos cycling group in Ilkley, U.K., on Wednesday, May 1, 2019. Following its recent purchase of Team Sky, Ineos has said it’s in talks to invest in OGC Nice,

Suburban Women Against Trump, or The S.W.A.T Team’s Shira Tarantino is seen campaigning against the … [+] president’s courting of female voters in the suburbs on October 15, 2020 in Stamford, Connecticut. – Donald Trump says suburba (Photo by TIMOTHY A. CLARY / AFP) (Photo by TIMOTHY A. CLARY/AFP via Getty Images) AFP via Getty

In the coming weeks, Paypal is preparing to launch a digital wallet and a Cryptocurrency Hub allowing its customers to buy, hold and sell cryptocurrencies like bitcoin, ethereum, bitcoin cash, and litecoin. Beginning in early 2021, PayPal PYPL users can also use the service to buy goods and services from 26 million merchants connected with

Topline A report from the New York Times reveals a decade of Donald Trump’s unsuccessful business activities in China, including an undisclosed bank account that paid nearly $200,000 in taxes, undermining his own exaggerated claims of Hunter Biden’s business dealings there, as well as his rhetoric that his Democratic opponent, Joe Biden, is soft on

Economic Security Planning, Inc. Today’s column addresses questions about the effect of having collected a spousal benefit before filing retroactively for retirement benefits, potential effects of business losses on Social Security benefit rates and which full retirement age (FRA) applies to the earnings test. Larry Kotlikoff is a Professor of Economics at Boston University and

TOPSHOT – People dine in plastic tents for social distancing at a restaurant in Manhattan on October … [+] 15, 2020 in New York City, amid the coronavirus pandemic. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images) AFP via Getty Images It’s been an especially rough year for the restaurant

getty A Michigan man has pleaded guilty to conspiring to defraud the IRS and to stealing from an organization receiving federal funds. According to court documents, Mathew Schwartz owned a law firm called Legal Genius, P.L.L.C. (“Legal Genius”) in Southfield, Michigan. Another man, Jayson Rosett (also charged as a defendant) owned a company called Accident

Hi Fantasy Sports Owners! I know it can be tough to pull yourself away from the all-important decision of whether to start Dalton Schultz or Jace Sternberger at tight end this week, but if you’ll lend me a few minutes, I’ve got some tax news that might just interest you. MANCHESTER, NH – SEPTEMBER 13:

Under Sheth’s watch, Vista Equity Partners has conducted more software acquisitions than any other … [+] company or investor in recent years. Patrick T. Fallon/Bloomberg Following billionaire Robert Smith’s admission to tax fraud last week, one of his private equity firm’s top dealmakers—cofounder and president Brian Sheth—looks set to depart. While Sheth—who launched Vista Equity

Fixing the important FBAR filing deadline for offshore accounts this year has been tough, like most things in 2020. Recently, the government extended the FBAR foreign account deadline to 12/31, then said 10/15. Here’s the final word. On October 14, 2020, FinCEN, the Financial Crimes Enforcement Network unit of the Treasury Department that handles millions

Economic Security Planning, Inc. Today’s column addresses questions about what’s possible after suspending a retirement benefit, survivor pensions based on a spouse’s non-covered pension, responding to a notice of overpayment from Social Security and why spousal benefits may not have been available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder

Stimulus spending sent both the FY 2020 deficit and the national debt to all time highs. Here are the numbers that show the breathtaking scope of the cost of the stimulus packages to date and the likely cost of the next round of stimulus. US Secretary of the Treasury Steven Mnuchin testifies during the Senate’s

WASHINGTON DC, OCTOBER 15: Albert Lauber, left, and Craig Hoffman pose in the front yard of thier … [+] Victorian Home off just off Logan Circle in Washington DC, October 15, 2014 (Photo by John McDonnell/The Washington Post via Getty Images) The Washington Post via Getty Images In a recent interview Judge Albert Lauber of

UNITED STATES – CIRCA 1931: Al Capone, pictured in court during his trial, Chicago, 1931. He was … [+] sentenced to a 10 years in federal prison and one year in county jail for a total sentence of 11 years. (Photo by Chicago Sun-Times/Chicago Daily News collection/Chicago History Museum/Getty Images) Getty Images On this day

Economic Security Planning, Inc. Today’s column addresses questions about a spouse taking retirement benefits on their own record before potentially taking survivor’s benefits, when to apply in order to begin receiving benefits in a certain month and when spousal benefits may be available. Larry Kotlikoff is a Professor of Economics at Boston University and the

On October 14, 2020, FinCEN, the Financial Crimes Enforcement Network unit of the Treasury Department that handles millions of FBAR reports on foreign bank accounts, announced that you had until December 31, 2020 to file your 2019 FBAR. Extra time, what a relief! Then, late on October 15, the due date for extended IRS tax

Democrats are betting that they can get voters to go along with big tax increases as long as they ostensibly hit only “the rich” and businesses. In this episode of What’s Ahead, we look at three state referendums that will test this hypothesis. California’s Proposition 15 would remove caps on taxing commercial real estate above

The US Attorney General’s Cyber Digital Task Force recently issued a comprehensive report outlining the United States’ framework for enforcement against cryptocurrency-related crimes. This report explains emerging threats, enforcement challenges, and case studies. According to the task force report, tax evasion is one of the three major ways bad actors use cryptocurrency. This report adds

Democratic presidential candidate Joe Biden speaks during a campaign event in Fort Lauderdale, … [+] Florida on October 13, 2020. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) AFP via Getty Images Democratic presidential candidate Joe Biden’s current campaign plan would raise taxes by $2.4 trillion over the next decade,