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federal taxes Archive

Checking One Item Off The Fiscal To-Do List

TweetShareSharePin0 Shares A clean continuing resolution. The House and Senate plan to vote today to keep the government running through December 3. After (twice) forcing Senate Republicans to block a bill to keep the government running and extend its borrowing authority, Democrats bowed to the inevitable and stripped out the debt limit measure. Unless both

Debt Negotiation Vs. Debt Management

TweetShareSharePin0 SharesDebt Negotiation Vs. Debt Management Debt negotiation and debt management/consolidation both help consumers pay off their debts through two different approaches. Each affects your credit score, payoff period, and taxes differently. Before choosing either options, be sure you understand the long term consequences of each debt management option. Influence On Credit Score Debt consolidation

Will You Make The 39 Cent Mistake This Tax Season?

TweetShareSharePin0 SharesWill You Make The 39 Cent Mistake This Tax Season? When it comes to filing your tax return, spending 39 cents could be the biggest mistake you ever make. Millions of taxpayers make the mistake of putting their income tax return in a regular letter-sized envelope, sticking on a 39 cent stamp, and placing

US Multinational Corporation Tax Data & Analysis

TweetShareSharePin0 Shares Recent proposals from the Biden administration and congressional Democrats aim to hike taxes on the foreign profits of U.S. multinationals, resting on the claim that U.S. multinationals pay very low tax rates on these foreign profits. But how heavily taxed are they, and how would various proposals affect these tax rates? U.S. multinational

Weighing the Options for Financing Reconciliation

TweetShareSharePin0 Shares Last week, The New York Times reported that in opposing corporate or individual income tax increases, Senator Kyrsten Sinema (D-AZ) has pushed other Senate Democrats, such as Senator Ron Wyden (D-OR), to consider a carbon tax to finance some of the infrastructure package. A carbon tax would be a less economically harmful pay-for

TPC Answers Two Questions About Its Analysis of the House Ways & Means Committee’s Tax Bill

TweetShareSharePin0 Shares After the Tax Policy Center published its new analysis of the House Ways & Means Committee’s budget reconciliation tax plan, commentators asked two questions: Why did TPC suddenly create two sets of distributional tables: One that includes all major provisions of the bill and another that includes the individual income tax, the payroll

October Surprise, Sort Of | Tax Policy Center

TweetShareSharePin0 Shares We’ll likely hit the debt ceiling on October 18. Treasury Secretary Janet Yellen told Congress yesterday that “It’s uncertain whether we could continue to meet all the nation’s commitments after” October 18. Senate Majority Leader Chuck Schumer attempted to set up a simple-majority bill to suspend the debt ceiling, but Senate Minority Leader

Isle of Man banking data leak reveals how sharing banking data can identify offshore strategies and improve beneficial ownership transparency.

TweetShareSharePin0 Shares Beneficial ownership transparency is a crucial strategy for tackling illicit financial flows. It involves identifying the individuals (natural persons) who ultimately own, control, or benefit from a legal vehicle like a company, trust or partnership. Individuals engaging in illegal or illegitimate activities, however, find it quite easy to hide themselves behind legal vehicles,

Taxes, Trademark Issues, And Corporations

TweetShareSharePin0 SharesTaxes, Trademark Issues, And Corporations Corporations may enjoy certain tax advantages. Due to the complexities involved, you should consult an experienced CPA or tax attorney for details. The corporation can adopt a pension or profit-sharing plan for the benefit of the employees. If certain requirements are met, contributions of cash or other property by

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