federal taxes Archive

TweetShareSharePin0 Shares The reluctant billionaire founder of clothing brand, Patagonia, has given away the company in an effort to fight climate change. Yvon Chouinard, who founded his brand — which has now become a staple for both serious outdoor enthusiasts and Greek Life participants from the SEC to the Big Ten — in 1973 in Ventura, California, has

TweetShareSharePin0 Shares Biden administration Treasury Secretary Janet Yellen has been spearheading the IRS’s modernization efforts and is now praising the tax agency.  In mid-August, following the passage of the Democrat-backed Inflation Reduction Act, Yellen gave the Internal Revenue Service (IRS) a six-month timeframe to present a “modernization plan” that will improve the overall American taxpayer experience. At

TweetShareSharePin0 Shares Following an IRS investigation, a former investment advisor has pled guilty to defrauding clients in a bid to fund his lavish lifestyle. The IRS Criminal Investigation division discovered that Shawn Edward Good, of Wilmington, NC, accepted investments totaling $7,246,300 from at least 12 victims between 2012 and 2022.  Per an official release: Good executed a

TweetShareSharePin0 Shares Ernest S. Christian, Jr., (1937-2022) was one of the tax policy community’s most distinguished and influential experts, showing us how effective sound tax policy can be. He passed away on September 13th, leaving behind a legacy of tax reform. Ernie gave up a lucrative career in law and government to devote the last

TweetShareSharePin0 Shares The Biden administration’s plan for broad-based student loan forgiveness of up to $20,000 per individual won’t affect borrowers’ federal tax bills, but it could have state tax implications for some. While many states will follow the federal lead and not treat forgiven student loans as earned income, some could take a different path.

TweetShareSharePin0 Shares Due to a delay put in place by the shell company that is seeking to merge with Donald Trump’s organization, the former President’s Truth Social platform may lose a $1 billion financing deal. Last year, the now-floundering deal was agreed upon by nearly three dozen hedge funds and wealthy private investors. Per a regulatory filing, the

TweetShareSharePin0 Shares Numerous key Democratic Congresspeople have gotten involved in a mounting effort to extend President Biden’s enhanced child tax credit (CTC), which played a role in reducing child poverty nationwide. Per a new report from the Census Bureau released this week, the nationwide poverty rate fell to 7.8% in 2021, the lowest level on record. This was largely due to