Tax day concept. The USA tax due date marked on the calendar. getty Despite increasing pressure from Congressional Democrats and requests from professional organizations including the American Institute of Certified Public Accountants (AICPA) IRS Commissioner Charles Rettig remains adamant about keeping the April 15 filing deadline exactly where it is. And that’s all we know.
Taxes
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about what an ex drawing divorced spousal benefits might mean for other benefits drawn on a worker’s record, whether it’s better to file a few months before turning 70 and what difference filing at 65 or a month earlier would make. Larry Kotlikoff is a
The Employee Retention Credit (ERC) is a tax credit first put in place last year as a temporary coronavirus-relief provision to assist businesses in keeping employees on payroll. Since then, the ERC has been significantly expanded – and in the most recent relief bill that will be sent to President Biden for signature – the ERC
The Senate approved a COVID relief bill on Saturday, with the House expected to approve the bill Tuesday this week. While the original House bill looked to extend additional unemployment aid of $400 per week until September, a last-minute change in order to secure West Virginia Senator Joe Manchin’s support decreased the benefit to $300 per
WASHINGTON, DC – MARCH 06: U.S. Senate Majority Leader Sen. Chuck Schumer (D-NY) speaks to the … [+] press. (Photo by Tasos Katopodis/Getty Images) Getty Images According to a new analysis by the Tax Policy Center, the Senate version of the American Rescue Plan (ARP) would reduce federal taxes in 2021 by an average of
The IRS Where’s My Refund tool is running behind. The average refund this tax season: $3,021. getty Given the number of days the Internal Revenue Service has been open for processing 2020 tax returns, the number of returns taxpayers have filed is up 14% compared to last year. That’s the rosy way to look at
United States Tax Court building in Washington DC Getty Luke Chiarelli is the only child of an only child. So when his mother passed not long after his father, he ended up with a lot of stuff, not only from his parents, but indirectly from his grandparents. Nice stuff – vintage clothing, furniture, antiques and the
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about whether the 2015 changes in the Social Security law actually ended spousal benefits for everyone, suspending a retirement benefit after it converts from a disability benefit and whether delaying makes sense with significant assets. Larry Kotlikoff is a Professor of Economics at Boston University
The U.S. Senate passed an amended version of the American Rescue Plan Act of 2021 on Saturday, March 6, 2021, by a vote of 50 to 49 along political lines. One of the amendments adds tax-free student loan forgiveness to the House version of the bill. The House is expected to pass the Senate version
Damon Rowe, the Director of the Office of Fraud Enforcement at the Internal Revenue Service announced yesterday at a Federal Bar Association presentation on fraud enforcement priorities that the office has “added some crown jewels,” including a dedicated team of IRS Criminal Investigation professionals who are working on “Operation Hidden Treasure.” Operation Hidden Treasure is