Taxes

WASHINGTON, DC – MAY 20: Stacks of US $100 bills (Photo by Mark Wilson/Getty Images) Getty Images As Congress returns from its August recess, Republicans remain opposed to a new large economic stimulus package.  In particular, they don’t see the need for aid to city and state budgets, and observers say this is “the largest stumbling block in

TOPLINE  The Federal Trade Commission is investigating Intuit over allegations it deliberately diverted eligible TurboTax users away from free filing options through deceptive marketing. ASSOCIATED PRESS KEY FACTS The FTC has been investigating Intuit for more than a year, according to a court filing first reported by ProPublica on Tuesday. The agency is probing whether

Economic Security Planning, Inc. Today’s column addresses questions about restricted applications, 401(k)s and the Windfall Elimination Provision (WEP) and what methods are available to increase benefits after filing. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize My Social Security and

Attendees wait for Robert Kyncl, vice president of global content partnerships with YouTube, to give … [+] a keynote presentation at the 2012 International Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Thursday, Jan. 12, 2012. The 2012 CES trade show features 2,700 global technology companies presenting consumer tech products and is expected

getty Chances are that you are spending today gathered around a grill or trying to soak in some sun. Labor Day weekend is considered summer’s last hurrah and ushers in fall and, including, in areas like mine, the beginning of the school year. (You can read more about the tie-in to the school year and

WAN CHAI, HONG KONG, HONG KONG ISLAND – 2018/04/07: A Bitcoin ATM machine in Wan Chai, Hong Kong. … [+] (Photo by Miguel Candela/SOPA Images/LightRocket via Getty Images) © 2018 SOPA Images Popular virtual currency Bitcoin has been a news fixture since its introduction in 2009. If fact, Bitcoin is the world’s leading virtual currency,

getty As tax time approaches for many, taxpayers and tax professionals alike are engaging in the annual ritual of gathering their cryptocurrency transactions and seeking out the latest and greatest guidance from the IRS on the subject.  As luck would have it, the IRS recently released an internal memorandum fleshing out its stance on the taxation

getty The stretch IRA was a popular tool for extending the benefits of a tax-deferred account to a non-spouse beneficiary. The goal was to minimize the tax impact of the required minimum distributions (RMDs). Typically, it worked by having the account owner designate a child or grandchild as the beneficiary, who was then allowed to

Like everything else this year, the Kentucky Derby 2020 is different, not May but September, run in the evening (7:02 pm Eastern time), and run without fans in the stands. But betting and the IRS haven’t changed. It’s traditional to place a bet, and the winnings can pay off handsomely. U.S. law still allows legal

This segment of What’s Ahead discusses two easy and momentous ways to give Americans a big raise in pay, a fitting topic as we go into the long Labor Day weekend.  The first, a flat tax, would be a tax cut for everyone, which would also free up resources and time for more productive pursuits.

President Trump’s payroll tax holiday went into effect this month. Several prominent media outlets covered the news, describing it as a “payroll tax cut.” It’s not a tax cut, and the distinction could result in a very expensive surprise for many in just a few months. Here’s what you need to know. AFP via Getty

U.S. President Donald Trump has faced pressure for years to release his tax returns. In Norway, he … [+] wouldn’t have a choice. Getty Images With November’s presidential election fast approaching, calls for President Trump to open up his tax returns are growing ever louder. In the latest twist, the president won another delay that’s

getty The feds have made another arrest tied to Paycheck Protection Program (PPP) loan fraud. This time, it’s an attorney facing charges. Jae H. Choi, who has an office in Fort Lee, New Jersey, has been accused of fraudulently obtaining nearly $9 million in PPP loans. Choi has been charged with three counts of bank

Close-up of Conservation easement with pen getty The Senate Finance Committee report- Syndicated Conservation-Easement Transactions – released on August 25 is very heartening. It exposes tax shenanigans that threaten an otherwise benign tax incentive. At least it is as benign as any tax incentive can be. The report is a great read. I will give

Economic Security Planning, Inc. Today’s column addresses questions about whether continuing income can replace earlier years with low or no income taxed by Social Security, whether to file for lower retirement benefits after spousal benefits and potential benefits based on a deceased parent’s record. Larry Kotlikoff is a Professor of Economics at Boston University and

This segment of What’s Ahead expresses utter astonishment that Britain’s nominally conservative government is ready to impose an array of growth-suffocating taxes on an economy that’s reeling more than just about any other from the coronavirus-induced crisis. If the Democrats win here, the U.S. will do the same.  Taxes are a price we pay, but

PITTSBURGH, PENNSYLVANIA – AUGUST 31: Democratic presidential candidate Joe Biden speaks during a … [+] campaign event at Mill 19. (Photo by Carolyn Kaster-Pool/Getty Images) Getty Images Is Democratic presidential candidate Joe Biden proposing to raise taxes on low- and middle-income households? He emphatically says no. President Trump and his allies say yes, just as

Close-Up Of Small Shopping Boxes With Credit Card On Laptop getty In the years after the U.S. Supreme Court upheld the physical presence nexus standard for state authority to impose a sales and use tax collection duty on remote sellers in Quill v. North Dakota, sales by remote sellers exploded, due almost entirely to the deployment of the world

Taxpayer puts up the white flag to IRS in exchange for easier terms getty In the wake of last week’s damning report from the Senate Finance Committee, the IRS is crowing over the first opponent to throw in the towel in a Tax Court brawl over a syndicated conservation easement based on the IRS offer

Economic Security Planning, Inc. Today’s column addresses questions about whether survivor’s benefits can be claimed after taking retirement benefits, retirement benefits before spousal benefits and selling land while receiving Social Security disability benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets