Taxes

Economic Security Planning, Inc. Today’s column addresses questions about whether the earnings test would reduce retirement benefits, retirement benefits before survivor benefits, benefits based on a common law marriage and whether an divorced spouse could be eligible for survivor benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president

Economic Security Planning, Inc. Today’s column addresses questions about whether dependent benefits are affected by the earnings test, how delayed retirement credits for retroactive benefits are calculated and how repayments of overpayments are calculated. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

WASHINGTON, DC – NOVEMBER 30: United States Supreme Court (Front L-R) Associate Justice Stephen … [+] Breyer, Associate Justice Clarence Thomas, Chief Justice John Roberts, Associate Justice Ruth Bader Ginsburg, Associate Justice Samuel Alito, Jr., (Back L-R) Associate Justice Neil Gorsuch, Associate Justice Sonia Sotomayor, Associate Justice Elena Kagan and Associate Justice Brett Kavanaugh pose

July 15, 2020 is the final day you can make Individual Retirement Account contributions for 2019. Getty As the official July 15, 2020 tax day deadline is fast approaching and plenty of taxpayers have yet to file 2019 returns and 2020 estimated payments, the Internal Revenue Service is urging folks to file and pay electronically,

Getty Short of a game-changing vaccine, our only sure way of ending COVID-19 before it kills or sickens millions more of us is testing every American every day. Imagine we could do this and quarantine everyone who tested positive until they were no longer infectious. The virus would be fully imprisoned within days. With no

WASHINGTON, DC – JULY 10: U.S. President Donald Trump leaves the White House on Marine One, on July … [+] 10, 2020 in Washington. DC. President Trump is traveling to Florida and will attend several events before returning to Washington. (Photo by Win McNamee/Getty Images) Getty Images My Trump Coverage So Far Ever since I

Virginia La Torre Jeker Courtesy of Virginia La Torre Jeker Tax Notes International contributing editor Nana Ama Sarfo talks with Virginia La Torre Jeker, a U.S. tax attorney based in Dubai, about establishing her tax practice abroad, the challenge of balancing family life with career, and recent international tax issues. This post has been edited for

WASHINGTON, DC- Nov 18: Sen. Bernard Sanders, I-Vt., and Barbara Kennelly, of the National Committee … [+] to Preserve Social Security and Medicare, talk to media after a meeting on progressive alternatives to proposals made by the deficit commission. (Photo by Scott J. Ferrell/Congressional Quarterly/Getty Images) CQ-Roll Call, Inc via Getty Images The Democrats probably

Benjamin M. Willis, contributing editor with Tax Notes Federal, and William D. Alexander, of counsel of tax at Skadden, Arps, Slate, Meagher & Flom LLP, discuss tax guidance and step transaction. Here are a few highlights . . . On the IRS’s private letter ruling program William Alexander: [PLRs are] not as efficient as writing regulations or

Believe it or not, after all we’ve been through, Tax Day is here again. Tax forms and payments are due July 15. As exhausted as most small business owners, freelancers, hourly, and even salaried employers are at this point in 2020, we still have to deal with taxes. Taxes are an ordeal even in the

Getty The tax filing deadline for individual taxpayers is just a week away. If you’ve been pushing off filing, you may want to consider filing for an extension. It only takes a few minutes, there are no special hoops to jump through, and there’s no fee payable to the Internal Revenue Service (IRS). And contrary

A letter from the Internal Revenue Service, signed by President Trump, notifies a family via U.S. … [+] Mail of an economic impact payment direct deposit made to their account in East Derry, N.H., Monday, April 27, 2020. The funds were provided as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. (AP

2020 Q2 – what happened in crypto Shehan Chandrasekera With all that has been happening in the world in 2020, the cryptocurrency compliance world has not slowed down. As we end the Q2 of 2020, let’s look at what happened in the past quarter in the crypto tax compliance world (What Happened In the Cryptocurrency

Economic Security Planning, Inc. Today’s column addresses questions about the ability to receive spousal benefits after filing early for Social Security retirement benefits, taking Social Security survivor benefits before retirement benefits and whether a survivor’s benefit from a non-covered pension would affect Social Security retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston

WASHINGTON, DC – JUNE 05: U.S. President Donald Trump shushes journalists before signing the … [+] Paycheck Protection Program Flexibility Act in the Rose Garden at the White House June 05, 2020 in Washington, DC. In the midst of nationwide protests against the death of George Floyd, the U.S. Labor Department announced the unemployment rate

IRS privacy coin crackdown Shehan Chandrasekera 2020 has been a year with a lot of turmoil but regulators’ attempt to crackdown on cryptocurrency has not slowed down whatsoever (350,000 Aussie Crypto Users Are Receiving Tax Warning Letters, The IRS Is Hiring Consultants To Crack Down On Cryptocurrency Tax Evasion). A new listing posted on the

One of the most exciting features of the Paycheck Protection Program was that it appeared that borrowers were going to be getting deductions funded with loans that did not have to be paid back. And there was an explicit statement that the discharge of indebtedness would not be taxable income. Taxability.—For purposes of the Internal

Economic Security Planning, Inc. Today’s column addresses questions about how and when delayed retirement credits (DRCs) are applies, how divorced spousal benefits are calculated, how survivor benefits are calculated, filing online and whether a deceased person’s application can be withdrawn. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president

Getty On Tuesday, the Commissioner of the Internal Revenue Service, Charles Rettig, testified before the Senate Finance Committee.  His message was a clear one: He is an enforcement-minded commissioner and “the IRS is committed to pursuing those who . . . intentionally evade their tax obligations.”  Mr. Rettig did not mince words. His IRS will “aggressively pursue

Getty In an already complex year, taxpayers got a slight reprieve when the IRS extended the federal income tax filing deadline to July 15, 2020. (Most states followed suit, although not all.) With Tax Day 2020 quickly approaching, taxpayers have just under two weeks remaining to organize their information and to file their 2019 federal