Telecommunications giants Comcast CMCSA and Verizon VZ are the latest to sue Maryland over its first-in-the-nation digital advertising tax as the state moved to delay implementation of the controversial legislation this week. In a complaint filed Thursday, seven divisions of Comcast, along with Verizon Media Inc., asked the court to declare the tax illegal under
Taxes
The Biden administration has put forward its infrastructure proposals and is now seeking to garner bipartisan support. One area that has bipartisan support (and very much needs reform) is the tax incentives for charitable giving. Reform of the tax incentives for charitable giving has a two-fold benefit: getting charitable dollars into the hands of working charities that
By Ed Slott, Next Avenue If you are working with an eye towards retirement or even semi-retirement, you are probably (hopefully) saving more than you could in the past in your retirement accounts. You may have paid off the mortgage and paid for college and other heavy expenses of raising children. That all sounds like you
It’s a new legal development for private equity billionaire Robert F. Smith and his onetime mentor Bob Brockman, already accused of the biggest tax evasion in U.S. history. Yesterday, the U.S. Department of Justice announced the indictment of Carlos E. Kepke, a Houston tax attorney who prosecutors say conspired with Smith to hide $225 million in
Running your own business (or being self-employed) is a major part of the American Dream and a great way to quickly move towards financial freedom. This also leaves the heavy lifting of tax planning and setting up a retirement plan squarely on your shoulders, as if running a business wasn’t complicated enough. Keep reading as
Tax cases involving Native Americans are complex, highly fact-intensive, and if required, a court must weigh the competing interests of the tribe, the federal government, and the state to determine if the tax stands or falls. There are instances in which a court, in order to reach the correct result, must examine the original treaty document
By approving a third round of economic impact payments (EIPs) and expanding refundability of the Child Tax Credit, Congress has made refundable tax credits a more important pillar of income support than ever. But using tax credits as a way to provide income security to low-income households creates a significant challenge: How can the IRS
When President Joe Biden signed the $1.9 trillion-dollar American Rescue Plan last month, he launched a new and improved Child Tax Credit. The Child Tax Credit has been around since the Clinton Administration, yet this new version may have a positive effect on Americans who have been trying to find financial stability through the Covid-19 pandemic.
Cities and states have increasingly been offering moving incentives to entice new residents in recent years and the pandemic has prompted more governments to get into the game. West Virginia became the latest place to do so this week and it’s offering one of the largest incentives yet: $12,000 cash to relocate to the “Wild
Congress has returned to Washington after a two-week Easter vacation, and What’s Ahead explains why investors should be worried. The first thing on Congress’ plate is President Biden’s gargantuan infrastructure bill, most of which has little to do with such traditional infrastructure projects as highways and bridges. Unless changed, the legislation will hurt the economy—and,