Menu

IRS Archive

Wealth Inequality Estimates Likely Overstated, New Research Suggests

TweetShareSharePin0 Shares Some of President Biden’s tax proposals, such as taxing unrealized capital gains at death, are specifically aimed at reducing wealth inequality. Indeed, it is commonly asserted that wealth inequality is too high and rapidly growing over time. However, new research from Federal Reserve Bank of Boston economists suggests wealth inequality has grown less

Thin-Cap Rules in Europe, 2021

TweetShareSharePin0 Shares Thin capitalization occurs when companies finance investments and operations through a level of debt far higher than their level of equity. High-tax countries create an incentive for companies to finance investments with debt because interest payments are tax-deductible, while the costs associated with equity financing are most often not. Some multinational corporations take

The Credit Card Debt Termination Scam

TweetShareSharePin0 SharesThe “Credit Card Debt Termination” Scam “Legally terminate credit card debt! You can be debt-free in 4-6 months!” Advertisements like this are for a new type of program that has spread via the Internet over the past few years. It’s called “Credit Card Debt Termination,” and victims are paying up to $3,500 for this

Important Facts About Saving Bonds

TweetShareSharePin0 SharesImportant Facts About Saving Bonds Unlike traditional bonds, saving bonds are not subject to the ups and downs of the stock market. Savings bonds are low risk, government-backed bonds with guaranteed rates of interest. There is a tax advantage to savings bonds because the owner may be able to partially or completely exclude their

Schumer’s Proposal to Deschedule and Tax Marijuana

TweetShareSharePin0 Shares Today, Senate Majority Leader Chuck Schumer (D), Senate Finance Committee Chairman Ron Wyden (D), and Sen. Cory Booker (D) released their discussion draft—the Cannabis Administration and Opportunity Act—for federal descheduling of marijuana. While federal descheduling impacts all states, it does not deschedule marijuana in states which choose to keep their own ban. Nevertheless,

Paying for Partisanship? | Tax Policy Center

TweetShareSharePin0 Shares Sen. Manchin on infrastructure: Everything should be paid for. The West Virginia Democrat told reporters that “we’ve put enough free money out.” He won’t publicly  commit to a top line number for an “inevitable” Democratic-only bill to complement a traditional infrastructure-only measure but said he’d vote for something between $1 trillion and $2

IRS Taking Payments Beyond Ten Years of Assessment Still Timely

TweetShareSharePin0 Shares Dean v US involves a motion to dismiss a taxpayer’s suit alleging that the IRS recklessly disregarded the law by continuing to levy on a taxpayer’s Social Security payments beyond the ten year SOL on collections.  The magistrate concluded that the IRS’s actions were not improper and recommended that the case be dismissed. The

No New Digital Tax in Europe, For Now.

TweetShareSharePin0 Shares EU will delay its digital tax. European Commission spokesman Daniel Ferrie told reporters that the European Union’s will delay its new digital levy at least until the fall. The EU had planned to impose it later this month but wants to clear a path for a global 15 percent corporate minimum tax. One
You cannot copy content of this page
Social Media Auto Publish Powered By : XYZScripts.com