Taxes

Today’s Social Security column addresses questions about when you might need to and when you can file retroactively, how disability benefits are calculated versus standard retirement benefits and reduction rates for filing early. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more

Senator Rick Scott (R-FL), who last February proposed taxing millions of low-income households that currently pay no income tax, has released a new version that largely walks back those tax hikes. But while its details are even murkier than his original, Scott still may be looking to hike taxes on many of those same households.

Today’s Social Security column addresses questions about child benefits and the earnings test, effects of not working for a number of years before filing and how delayed retirement credits are applied to benefit rates. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See

The IRS is rightly concerned about protecting taxpayers from data breaches and unauthorized disclosures, and it takes tremendous precautions to defend against them. At the same time, taxpayers and their representatives have a right to understand how the IRS is using the personal information it collects in administering the tax laws. A recent decision from

#DeferStudentLoanDebt? Doesn’t really have the same ring to it, does it? Even still, as the Biden administration inches closer to a decision on whether it will cancel trillions of dollars of student loan debt, many questions remain about how the plan will affect individuals with significant obligations. While many of the prominent Democrats in Washington

Even though jobs are plentiful and wages are up, many families still face a shaky economic outlook. Higher than average inflation, which tends to hit low- and middle-income families hardest, will likely persist in 2022. A rental crisis looms. Either could undo gains in financial well-being found at the end of 2021 by the Federal

Robert Goulder of Tax Notes interviews professors Lawrence Zelenak and Ajay Mehrotra about the recently published memoirs of Stanley S. Surrey, who is considered America’s greatest tax scholar. This transcript has been edited for length and clarity. Robert Goulder: Hello, everyone I’m Bob Goulder, contributing editor with Tax Notes. Welcome to the May edition of

Democrats have been struggling to respond to the highest inflation America has seen in 40 years. Many on the left are pushing a bogus “greedflation” narrative that blames rising prices on corporations’ desire to maximize profits, as if that were some new phenomenon. Others have proposed to compensate consumers for higher prices with cash handouts

Todd and Julie Chrisley were indicted in August 2019 on a raft of a federal tax and bank charges, and a new indictment was filed in February of 2022. They were just convicted of all charges by a jury in Atlanta, with sentencing to occur later. The pair could face decades in prison for conspiracy

Johan Langerock, policy adviser in the European Parliament, discusses his visit to Washington, D.C., the future of the OECD two-pillar tax plan, and the European Union’s green initiative. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International.

Depending on your income in 2021, you may be feeling the pain of paying your state and federal income taxes. Some of you reading this post may be feeling a bit more pain based on the state within which you live, how you earn your income, and whether or not you own a home. The

The Tax Injunction Act requires federal courts to determine whether the state levy under consideration is a tax or a fee, which in turn will determine whether the court has jurisdiction to proceed. The Supreme Court, which has never addressed the issue, now has before it the opportunity to lay the matter to rest in

Elon Musk has a “super bad feeling” about the economy. JPMorgan’s Jaime Diamond forecasts an “economic hurricane.” Both claims are counterfactual. The economy’s super hot, inflation’s temporary, the Fed’s not slamming on the breaks, and reversing QE, to the extent that happens, will surely be benign. Larry Kotlikoff is a Professor of Economics at Boston

The long-awaited verdict is in, with Johnny Depp coming out on top, but neither of them unsullied in the process. The jury found that Heard defamed Depp, and awarded him $10 million in compensatory damages and $5 million in punitive damages. Depp’s $5 million in punitive damages were cut to $350,000 under the Virginia state

In a Monday Wall Street Journal column (paywall), President Biden urged Congress to help fight inflation by raising tax rates on the very wealthy and using the money to reduce the deficit. Does that strategy make sense in today’s economic environment? At least in theory, raising taxes could ease inflation. But not necessarily for the

Market volatility has put a spotlight on the risks of having a significant portion of your net worth concentrated in just one company. A concentrated stock position can easily arise, for example, when you acquire company shares through restricted stock unit (RSU) vesting, stock option exercises, or founders’ stock in a fast-growing startup. While a

Share to Facebook Share to Twitter Share to Linkedin Sunday’s presidential election in Colombia was a shocker. Two utterly nonestablishment candidates won the top spots and will face each other in a runoff on June 19. The front-runner is a one-time leftist guerrilla who won’t disavow his past and who vows to launch a radical

Share to Facebook Share to Twitter Share to Linkedin Another day, another record for gasoline prices, which hit an average of $4.715 a gallon in the United States. That’s up 50% in a year and double what they were when President Joe Biden took office in January 2021. At current daily demand of 8.9 million

Like nearly everyone else, the IRS has experienced an unsettling couple of years, but the agency has been working toward rebuilding, especially over the past year. The recent release of its 2021 data book shows an agency grappling with some significant lingering problems, particularly in the area of technology, while navigating a path forward on

Unlike the live-streamed Johnny Depp and Amber Heard trial, you can’t watch the federal criminal trial of TV’s Todd and Julie Chrisley, but there is still plenty of drama and even bigger stakes. The Chrisleys were indicted on 11 counts of tax evasion and bank fraud in 2019, and a superseding indictment came in 2022.