Taxes

If you are an American taxpayer who lives and works out of the U.S., you have about two more weeks to file your 2022 federal income tax return. Those taxpayers, including U.S. citizens and residents abroad, face a due date of Thursday, June 15. June 15 Deadline The June 15 filing deadline applies to taxpayers

In response to a request from House Speaker Rep. Kevin McCarthy (R-CA), the Congressional Budget Office (CBO) has estimated the impact of the debt ceiling agreement. The analysis found that under the May 28 version of the bill, budget deficits would be reduced by about $1.5 trillion over the next decade, and interest on the

U.S. taxpayers living and working abroad must file their 2022 tax returns by June 15. This deadline applies to both U.S. citizens and resident aliens abroad, including those with dual citizenship. A taxpayer qualifies for the June 15 filing deadline if: (1) Both their tax home and abode are outside the United States or Puerto

Terry Savage and I are collecting Social Security horror stories and posting them at my substack site, larrykotlikoff.substack.com. Sign up for free and take a read. If you have a story, send it to [email protected]. I copy below a story we just received. I thought I’d heard it all. But here we have the case

Lance Wallach is an expert on abusive tax transactions – in a good way. He warns people about them and then helps the ones who didn’t hear his warnings or did not take the warnings seriously enough. A couple of weeks ago he called me to encourage me to write about the Employment Retention Credit

As the debt limit drama plays out, Americans might be wondering if there is a better way to prevent defaulting on US debts and perhaps inducing a global recession or depression. President Biden, along with many commentators, has speculated that a president can bypass Congress by using the 14th Amendment to the Constitution. But we

House Speaker Kevin McCarthy (R-CA) and President Joe Biden reached an agreement over the weekend to limit spending for a small fraction of the federal government for a couple of years. But it would not come close to materially reducing annual deficits or slowing the growth of the national debt, which the Congressional Budget Office

Former IRS Commissioner David Kautter, now with RSM, discusses the recently released report on the feasibility of an IRS-run direct file program. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: cutting out the middleman.

Most people are looking through the rearview mirror when it comes to taxes. They file their taxes once a year, recording what has already happened. Proactive tax planning is like looking through the windshield, looking ahead to avoid pitfalls that could cost you more in taxes. The more successful your business, the more you could

A German lawyer widely regarded as the mastermind of a massive tax fraud scheme has been sentenced to an additional eight years and three months in jail. Hanno Berger had already received an eight-year jail sentence last December for his role in the cum-ex scheme, which has been called “the biggest tax theft in the