federal taxes Archive

State Tax Ballot Measures to Watch on Election Day 2022

TweetShareSharePin0 Shares On Election Day 2022, most eyes will be on Congress, with polls showing control of both chambers up for grabs. But the action is not limited to Washington, D.C.: across the country, voters will decide important questions through state and local ballot measures. At the state level, 25 measures in 12 states relate

Debt Ceiling Drama. UK Drama. Courtroom Drama.

TweetShareSharePin0 Shares After the election, swapping spending cuts for a debt ceiling increase? Republicans want to use a House vote on raising the debt ceiling, necessary to prevent government default, to win concessions on spending cuts. The federal government is expected to reach its $31.4 trillion debt limit sometime in 2023 but some Democrats would

Jury Selection Officially Underway In Trump Criminal Trial

TweetShareSharePin0 Shares Jury selection has officially begun in Manhattan for the highly publicized Trump Organization criminal trial. NBC News shared details, noting that “potential panelists [are] likely to be questioned intensely about whether they can be impartial in a case that involves the former president and his eponymous company.” Last week, Reuters confirmed that the long-awaited case

Credit Suisse Ends Tax Probe With $324 Million Payment

TweetShareSharePin0 Shares Credit Suisse has recently been the subject of multiple tax probes worldwide and has agreed to make a $324 million payment to end one situation. Per Reuters, the finance giant will pay the fee to end a French tax probe, which has seen investigators looking into whether the Swiss bank assisted wealthy clients

Man Sentenced to Prison For Decade-Long Mortgage Fraud Scheme

TweetShareSharePin0 Shares A Massachusetts man has been sentenced to four years in federal prison for running a decade-long mortgage fraud scheme. Over the course of ten years between 2006 and 2015, George Kritopoulos, a Salem real estate developer, engaged in fraud on at least 24 loan transactions totally $6.5 million. Lenders lost over $3.8 million as

What The IRS Inflation Adjustment Really Means

TweetShareSharePin0 Shares The Internal Revenue Service announced its inflation adjustment for tax year 2023: It will be a bit more than 7 percent, the largest increase in many years. But this change is widely misunderstood:  It isn’t a cause for joy, and it isn’t a tax cut. The adjustment is intended to reflect today’s higher

Trump Org. Criminal Tax Trial Set to Begin Next Week

TweetShareSharePin0 Shares The Trump Organization’s criminal tax trial is set to officially begin Monday, October 24 with jury selection. Reuters confirmed that the case will be tried in Manhattan state court.  The outlet shared that the Trump Organization could face up to $1.6 million in fines for the three tax fraud counts and six other

Liz Truss Becomes Shortest Tenured PM In History, Steps Down After Six Weeks

TweetShareSharePin0 Shares Six weeks ago, Liz Truss officially became British Prime Minister following Boris Johnson. Now, she has stepped down following the recent crash of the British pound amid her controversial tax plan.  This makes Truss the shortest tenured Prime Minister in United Kingdom history.  CNN shared details about the situation, noting that her “successor will

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