getty The Internal Revenue Service (IRS) is emphasizing that no action is required by eligible taxpayers for the second round of Economic Impact Payments (EIPs, or stimulus checks). As noted earlier, initial direct deposit payments began arriving as early as last night for some and will continue into next week. Paper checks will begin to be mailed
Taxes
SOPA Images/LightRocket via Getty Images If this time last year, you would have suggested that I would spend a majority of my time in 2020 away from my office and reliant upon the tax community on social media to help keep me both informed and sane, I likely would have laughed at you. Don’t get
In a recent case, the Fifth Circuit addressed the definition of “the return” for purposes of starting the statute of limitations. In a win for the taxpayer, the court held that the regulatorily prescribed form is not necessarily the only document that can start the statute of limitations. A brief summary of the salient facts.
In this installment of In the Pages, Tax Notes International contributing editor Robert Goulder sits down with Kim Clausing, incoming professor at the University of California, Los Angeles, School of Law, to discuss the lessons in her recent Tax Notes article, “5 Lessons on Profit Shifting From U.S. Country-by-Country Data.” About the Guests Robert Goulder is a contributing editor for Tax Notes International.
Republicans refuse federal aid for state and local budgets in part because of hostility to public … [+] employee pension plans. getty In the drama over the federal Covid-19 relief legislation, Republicans led by Senate Majority Leader Mitch McConnell (R-KY) rejected state and local budget aid, claiming it would be used to bailout badly managed
The US Capitol building is seen on a cold and sunny winter day as Congress is in session in … [+] Washington on December 29, 2020. – US President Donald Trump lashed out at the Republican leadership in Congress on Tuesday as he faces a humiliating first veto override in the final days of his
getty 2020 has been an incredibly challenging year for all Americans. The pandemic’s impact on the physical, mental and financial health of the country has led many Americans to struggle to survive. As we come to year end, many Americans are taking one last look at their tax planning and considering what type of
getty ADVERTISEMENT Congress may still be debating the size of additional checks, but Treasury is already taking action to deliver a second round of Economic Impact Payments (EIPs, or stimulus checks). This second round of checks is part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, passed by Congress last week and
The IRS just released its annual report (FY 2020) on the tax whistleblower program. Unfortunately, the award numbers are a significant change from just two years ago – where the IRS reported a ten-fold increase in whistleblower awards to $312 million for FY 2018. For FY 2020 – the amount of (pre-sequestration) awards to whistleblowers was markedly
getty The Roth IRA is one of the most powerful tax and retirement planning tools available, yet it is misunderstood and often misused. Many financial advisors have labeled 2020 as the best time to convert all or part of an IRA. Income taxes, and the cost of converting an IRA, might never be lower in