Taxes
IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens
As part of continuing efforts to combat dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service is sending an initial round of more than…
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New June 1st Deadline Creates Pressure For A Two-Step Debt Limit Solution
Both the Congressional Budget Office and the Treasury Department warned Monday that the federal government is likely to exhaust its…
Largest International Operation Against Darknet Drug Trafficking Nets Record Arrests And Seizures
The numbers are eye-opening. 288 arrests. 117 firearms. 850 kilograms of drugs. $53.4 million in cash and virtual currencies. That…
Louisiana Man Sentenced To 10 Years For Fraudulent PPP Loan Scheme
A Louisiana man was sentenced to 10 years in prison for money laundering related to a fraudulent scheme involving Paycheck…
Senators Ask IRS About AI-Generated Scams Targeting Taxpayers And Tax Pros
A group of Senators is urging the IRS to take action on the potential use of artificial intelligence (AI) in…
Emissions Free Trade: EV Tax Credit Sourcing Rules And The EU
Professor Kathleen Claussen of Georgetown Law discusses how the proposed regs for the new clean vehicle tax credit affect the…
IRS Extends April 18 Tax Deadline To Aug. 15 For Florida Storm Victims
The IRS announced that Florida storm victims have until Aug. 15, 2023, to file federal individual and business tax returns…
Taxpayers ‘Terrorized’ By Complexity In 1919
Some of the most intractable problems plaguing the federal tax system have been around for a long time. Complaints about…
Ask Larry: What Rate Determines My Wife’s Social Security Spousal Benefit?
Today's Social Security column addresses questions about what how spousal benefits are calculated based on the worker's benefit rate, effects…
How Insurance Bad Faith Recoveries Are Taxed
Insurance bad faith lawsuit recoveries can be significant, dwarfing the underlying dispute. By definition, a bad faith case comes out…
Social Security Sues 32 Year-Old For Benefits “He” Received 21 Years Ago, At Age 11!
This is among the worst Social Security horror stories I’ve encountered in years of writing about Social Security’s financial abuse…
Which Sins Should We Tax?
Gen Z and millennials are living clean, and apparently it’s not good for state coffers. In March, Bloomberg reported that…
Taxes For The American Abroad 101
Living and investing overseas can create advantages when it comes to your U.S. tax burden. To benefit from those advantages…
How Congress Is Trying To Finesse The Debt Limit While Ignoring The Debt
You can see where this is going. As the US gets ever closer to hitting its borrowing limit sometime this…
Disney Sues Florida Gov. Ron DeSantis Over Control Of Special District, Alleging Retaliation
Last year, Gov. Ron DeSantis (R) made waves in Florida when he took steps to eliminate the Reedy Creek Improvement…
Want To Increase Cultural Investment? Use Tourism Taxes
The taxes levied on overnight stays could fund much more than convention centres and marketing campaigns. They can make places…
After Beyonce Failed To Work It Out With IRS, She Filed A Petition In Tax Court
Entertainer and business success Beyoncé Knowles-Carter—known to fans as Beyoncé or Queen Bey—has filed a petition in U.S. Tax Court…
Year 15 Low Income Housing Tax Credit Fight Turns Ugly For CohnReznick
The dispute between certain owners of interests in low income housing projects and not for profit sponsors has taken an…
7 Ways To Improve Your Financial Literacy With Stock Options, RSUs, And ESPPs
April is National Financial Literacy Month. For most employees, few financial endeavors are more complex than understanding stock options, restricted…