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federal taxes Archive

IRA Distribution Mistakes–How to Blow your Retirement Money

TweetShareSharePin0 SharesIRA Distribution Mistakes–How to Blow your Retirement Money With the population aging and over 4000 people a day being forced to take IRA distributions (such distributions are mandatory by April 1 after reaching age 70 1/2), mistakes in taking IRA distributions can total in the billions. Yet, because people have had no prior experience,

The Perils of Plastic

TweetShareSharePin0 SharesThe Perils of Plastic Millions of credit card borrowers are about to face larger monthly payments, a change that represents both good news and bad for consumers. Under new guidelines suggested by the federal government, starting in January minimum monthly payments for credit card debt will generally increase. Many mortgage lenders will no longer

Congress Can More Modestly Expand The Child Tax Credit And Still Help Very Low-Income Families

TweetShareSharePin0 Shares As President Biden and congressional Democrats make another push to reach a compromise on a social spending, climate change, and tax bill, a key issue is what they’ll do with the Child Tax Credit (CTC). The Tax Policy Center analyzed five options that show how lawmakers could partially restore the expanded 2021 version

Tax Justice Network Portuguese podcast: Como se livrar da maldição do petróleo? #36

TweetShareSharePin0 Shares Welcome to our monthly podcast in Portuguese, É da sua conta (it’s your business) produced by Grazielle David, Daniela Stefano and Luciano Máximo. All our podcasts are unique productions in five different languages – English, Spanish, Arabic, French, Portuguese. They’re all available here. Here’s the latest episode: Sobe o preço do barril de petróleo, sobem os custos de produção e os preços de quase tudo

Menthol Ban Could Reduce Revenues, with Few Health Benefits

TweetShareSharePin0 Shares Today, the U.S. Food and Drug Administration (FDA) unveiled long-anticipated proposed regulations banning the sale of menthol cigarettes and flavored cigars, part of ongoing efforts to support smoking cessation. Critics doubt, however, whether banning mentholated cigarettes will reduce smoking or instead simply channel menthol smokers toward other tobacco products—or smuggled menthols. And states

NonDoms unmasked: the Tax Justice Network podcast

TweetShareSharePin0 Shares Welcome to the latest episode of the Tax Justice Network’s monthly podcast, the Taxcast. You can subscribe either by emailing naomi [at] taxjustice.net or find us on your podcast app. In this Taxcast episode we ask – do politicians believe in the societies they serve or not? Are they really a part of them, or do

How to Undertake Reform of the Charitable Deduction

TweetShareSharePin0 Shares Among its many changes, the 2017 Tax Cuts and Jobs Act substantially increased the share of federal income taxpayers taking the standard deduction, leaving fewer tax filers claiming the tax deduction for charitable contributions. Ever since, some lawmakers have sought ways to incentivize giving for those who don’t itemize. It’s unlikely that Congress

All I Want For Reconciliation Is A…

TweetShareSharePin0 Shares Manchin offers more (familiar) specifics for a revised reconciliation bill. The Democratic Senator from West Virginia wants “just a fair, competitive tax code,” that increases the corporate tax rate to 25 percent, taxes capital gains at 28 percent, gets rid of loopholes, and makes sure everybody pays their fair share. Problem is: The

1031 Tax Exchange – Frequently Asked Questions

TweetShareSharePin0 Shares1031 Tax Exchange – Frequently Asked Questions After years of conducting tens of thousands of successful 1031 exchanges, we found that there are a number of frequently asked questions related to this type of transaction… Equity and Gain Is my tax based on my equity or my taxable gain? Tax is calculated upon the

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