federal taxes Archive

TweetShareSharePin0 SharesLatest Email Scam Using IRS Name If you have an email account, and who doesn’t, you are use to receiving scam emails. Well, here is one using the IRS name to watch out for over the next few months. Latest Email Scam Using IRS Name No matter how hot it is outside, nothing sends

TweetShareSharePin0 Shares by Mary Swire, Tax-News.com, Hong Kong 25 August 2021 The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories’ agreement that exempted shipping industry income from tax. US authorities announced in October 2020

TweetShareSharePin0 Shares7 Common Mistakes of Estate Planning Even though planning your estate isn’t an enjoyable job it’s necessary so that you can efficiently and successfully transfer all of your assets to those you leave behind. With a bit of careful planning, your heirs can avoid having to pay estate taxes and federal taxes on your

TweetShareSharePin0 Shares 2018-2020      All taxable income 21 For tax years beginning after 2017, the Tax Cuts and Jobs Act (P.L. 115-97) replaced the graduated corporate tax structure with a flat 21% corporate tax rate. 1993-2017      First $50,000 15 The Revenue Reconciliation Act of 1993  increased the maximum corporate tax rate to 35% for

TweetShareSharePin0 Shares In a recent report co-authored with University of Chicago Professor Daniel Hemel, I described how our retirement tax system favors the rich disproportionately. But it’s worse than that:  Our system of generous tax subsidies for retirement savings—such as 401(k) plans, other defined contribution plans, and individual retirement accounts (IRAs)—also exacerbates racial inequities. Due

TweetShareSharePin0 Shares Profit shifting by multinationals poses a major challenge in international taxation. The ability of multinational enterprises to shift the location of profits from high-tax to low-tax jurisdictions and tax havens erodes the corporate income tax base in high-tax countries. For example, a multinational with patents owned by an Irish affiliate can shift profits

TweetShareSharePin0 Shares10 Tips To Reduce Your Exposure And Prevent Identity Theft Identity theft is the country’s fastest-growing financial crime. The Federal Trade Commission estimates that 27.3 million Americans have been victims of identity theft in the past 5 years, including 9.9 million people last year alone. Some ways to prevent becoming a victim could include