The May jobs report is out. Does it show a healthy jobs recovery on track to a full recovery? Or do we see a gap of 8 million fewer jobs compared to pre-pandemic levels, with high Black and Hispanic unemployment, and 1.7 million older workers pushed into premature retirement? The answer is both. We need job quality, not just job growth.
Taxes
For the handful of Tax Notes readers who don’t already subscribe to Us Weekly, let me acquaint you with a regular feature of that magazine: “Stars — They’re Just Like Us!” Using paparazzi photos, this column depicts celebrities performing mundane but relatable tasks. “They go to the post office!” the magazine trumpets with trademark enthusiasm. “They walk dogs!”
Your home or business is hit by a disaster – hurricane; fire; flood – you name it. Homeowners and businesses often have insurance to protect against disaster – and many times the dealings with the insurance company will go like butter. This is great news. However, there are other times when an insurance company gives their client
There is a well-known saying, “the map is not the territory,” that metaphorically illustrates the differences between belief and reality. Through our perception of the world, we create a ‘map’ of what we perceive to be reality. However, reality, or the “territory”, exists independent of our subjective experiences. We see as far as getting to
Biden’s Fiscal Year 2022 Revenue Proposal aims to catch crypto tax evaders by reinforcing existing information reporting rules and information sharing agreements between jurisdictions. What is Information Reporting? Information reporting is the primary way that regulators like the IRS knows about your crypto activity. Cryptocurrency exchanges are required by law to collect your personal identification
Those of us who have been writing about the federal budgets for too long remember the sad history of presidents trotting out wildly optimistic economic assumptions to explain away growing deficits and debt. It was a tried-and-true way to hide their unwillingness to pay for ambitious spending with too little tax revenue. Former President Trump
In this episode of Tax Notes Talk, Tax Notes legal reporter Jennifer McLoughlin and contributing editor Kristen Parillo discuss two important tax cases heard by the Supreme Court: Americans for Prosperity Foundation and CIC Services. This transcript has been edited for length and clarity. David Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This
Coming to a corporate balance sheet near you: multi-jurisdictional complexity. This week, in what must seem like a case of déjà vu, multinationals were once again put on notice that a tax reckoning is on its way. This time, it was the European Union gearing up to sharpen its pencils, as it introduced a plan
Anticipating President Biden’s proposed increase in the capital gains tax rate, taxpayers are deciding whether and how to accelerate gains or how to defer them after an increase for as long as possible. The uncertainty around the timing and extent of the increase, as well as other important details that will need to be established during
Tax collectors are coming after you as never before. This is bad news for a sustainable global economic recovery from the pandemic. U.S. Treasury Secretary Janet Yellen is proposing that countries around the world enact a global minimum corporate tax rate—and this idea is just for starters. Plans are being developed to have global tax