Buried in an already disheartening New York Times article about how homeless Americans are struggling to get their stimulus checks is an even more depressing accusation: finance bros are offering to help homeless people get their stimulus payments, not out of the goodness of their heart, but in exchange for a hefty fee. The anecdote
Taxes
In this installment of Willis Weighs In, Tax Notes contributing editor Benjamin M. Willis talks with Anthony J. Nitti, partner at RubinBrown LLP, about the court cases that make up the foundation of tax law. Here are a few highlights from their discussion, edited for length and clarity. Willis: We are here today to talk about something
The American Families Act — Biden’s new spending proposal covering paid leave, child benefits, childcare subsidies, tuition-free community college, and more, but lacks one component progressives had been calling for: an expansion of Medicare, in terms of benefits provided and age eligibilities. Here’s an excerpt from yesterday’s Washington Post: “Congressional Democrats are planning to pursue
Last July I wrote an article about what to do about the proposed tax hikes if there were a blue wave and the Democrats were to take over the presidency, House and Senate in the November 2020 elections. While it wasn’t exactly a blue wave, Joe Biden was elected president and the Democrats have narrow
The Canada Revenue Agency recently won its first cryptocurrency-related customer data request — a request involving Coinsquare, the country’s largest cryptocurrency exchange. Under the order, Coinsquare must turn over personal and transactional information about its largest users, which captures about 5 to 10% of its customer base. In many ways, the CRA is following in the footsteps of the IRS, which in 2016
Today’s column addresses questions about when delayed retirement credits are applied to retirement benefits, whether suvivor’s benefits from a foreign country will affect Social Security benefits and becoming eligible for Social Security benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets
This episode of What’s Ahead points out how the tax proposals President Biden outlined in his national address will hurt, not help, the economy. If enacted, they will turn into political poison for the Democrats. A doubling of the capital gains levy will shrink Uncle Sam’s revenue, as people will be more inclined to hold
Heirs and hedge fund managers might take a hit, but tens of millions of families and lower-paid young singles will come out ahead with fatter tax credits. President Biden will lay out his $1.8 trillion American Families Plan on Wednesday in his first address to a joint session of Congress on the eve of his
President Biden announced the American Families Plan today, which is designed to “grow the middle class and expand benefits of economic growth to all Americans.” The American Families Plan includes a lot to like, no matter what side of the aisle you are on. By any measure, the amount of benefits being proposed is staggering,
A provision tucked into the Covid Relief bill passed by Congress in December 2020 now has vaping businesses and states regulatory departments scrambling to meet new federal requirements. And in many cases, it will increase the cost of doing business. “For the vape industry, this was the worst Christmas present ever,” said Avalara excise tax