Putin’s requirement that its “enemies” purchase Russian energy with rubles is of no economic consequences for the ruble or anything else. NATO will reject this symbolic diktat, effectively imposing a ban on Russian energy — NATO’s unused economic sanction. Putin is again shooting Russia in the head. Is Putin an evil genius as everyone believes?
Taxes
Tax returns are piling up at the Internal Revenue Service, and millions of taxpayers are experiencing refund delays beyond the typical 21 days or fewer for e-filed returns electing a direct deposit refund. The IRS even issued a press release cautioning taxpayers not to count on getting a refund by a certain date, especially when
The Second Circuit decision in Laurence Gluck”s appeal of a Tax Court decision has some important lessons, about like-kind exchanges, partnership taxation and Tax Court jurisdiction. With a deficiency over $1.5 million, it seems like a pretty big deal. Based on this CUNY TV interview with Mr. Gluck a year before the 1031 deal, it
The Oscars may be over, but the repercussions of the slap may not be over for quite some time. Will the Academy take disciplinary action against Will Smith? Will Chris Rock change his mind and press charges? Might he even sue Will Smith? Lawsuits have been filed for less, and more than a few plaintiffs
This segment of What’s Ahead lays out how stunningly unrelated President Biden’s proposed budget is to the real needs of the U.S. economy and how reckless it is for our defense necessities in an ever more menacing world. For example, the Navy says we would need 500 ships to counter China’s navy in a conflict.
The big retirement bill that the House passed this week, known as Secure 2.0, has several provisions that would mean more taxpayers can get Roth money into their nest eggs—and in some cases mandates Roth contributions. That’s a big deal because the tax consequences of whether you have pre-tax or Roth accounts are significant, and
How to tax the rich? Let us count the ways. New taxes on capital income? Higher income tax rates? A wealth tax? Some mash-up of all these ideas? All aim to raise taxes on the very rich, driven by the twin desires to boost revenue and address growing wealth inequality. But while these taxes may
Let’s talk about Rev. Proc. 2015-41, 2015-35 IRB 263. In case anyone has forgotten, this guidance provides details on the procedures for requesting and obtaining an advance pricing agreement from the IRS’s advance pricing and mutual agreement program. The scope of the guidance includes the processing of applications, negotiation of agreements, verification of compliance, and
This week, New York Governor Kathy Hochul announced a new $1.4 billion stadium, fueled by substantial state and local subsidies, for the Buffalo Bills National Football League (NFL) team. But the stadium will cost taxpayers money, take away funds from investments that actually could help the economy, and produce little if any net economic gain
Marlene Nembhard Parker and Fabrizia Lapecorella discuss their partnership as the first co-chairs of the OECD inclusive framework on base erosion and profit shifting and speculate on the future of women leading international tax. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in