Today’s column addresses questions about how stopping work before claiming a Social Security retirement benefit can affect the benefit amount, divorced spousal benefits and the family maximum that can be claimed on a single record and how the Government Pension Offset (GPO) is applied. Larry Kotlikoff is a Professor of Economics at Boston University and
Taxes
In the latest episode of Tax Notes Talk, David Thompson of the National Council of Nonprofits talks about how tax policy affects tax-exempt organizations and tax issues on the nonprofit industry’s radar today. The post has been edited for length and clarity. Fred Stokeld: I’m here today talking with David Thompson, vice president of public policy
If you earn income through cryptocurrency mining, staking, interest or trading, you might have to pay quarterly taxes (also known as estimated taxes) to the IRS and state to avoid underpayment penalties. What Are Quarterly Taxes? The US has a pay-as-you-go tax system. This means you are required to pay taxes on income as you
Some people look at India’s equalization levy and don’t like what they see. The aversion could stem from the details of the tax, or from Western discomfort with the fact that a prominent market economy has chosen not to sit on its hands while the OECD fiddles with a coordinated response to the challenges of the digital
Topline National Economic Council director Brian Deese on Monday defended President Biden’s proposal to nearly double the tax rate on long term capital gains and qualified dividends received by investors earning more than $1 million annually, emphasizing that only a small fraction of American households would see their tax treatment change if the plan were
Last week, The New York Times NYT reported that President Biden is seeking to increase taxes on the rich in order to fund childcare and education under a strategy dubbed The American Family Plan. This is expected to involve investments to fight poverty, reduce childcare costs, establish a national paid leave program and introduce both
Topline As President Joe Biden enters the final stretch of his first 100 days in office, he’s still garnering approval from a majority of Americans—and faring better than his predecessor—but an overwhelming majority of voters are still concerned about the economy as concerns over gun laws and immigration also come to the fore, according to
Today’s column addresses questions about whether child benefits will be reduced if the record holder filed early for their own retirement benefit, whether investing in stocks and cryptocurrency count as earnings and whether collecting early divorced spousal benefits reduce later retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder
Early last month, President Biden met with a group of prominent historians, seeking their guidance on how to build a transformative presidency. Axios described the two-hour session as a “for-the-history-books marker of the think-big, go-big mentality that pervades his West Wing.” Biden peppered his guests with questions about America’s most consequential presidents: George Washington, Abraham Lincoln, Lyndon Johnson, and the like. But one
In the game of tax chicken that is the 2021 filing season the IRS has swerved, albeit involuntarily, again. Despite repeatedly doubling down on the stance that first quarter estimated tax payments were due on April 15, the latest in a series of IRS system glitches has caused payments for many taxpayers not to be