TOPLINE In a Wednesday interview with Fox Business, President Trump said he supports a second round of direct payments to individuals—it’s the first time he has publicly declared his support for the idea, which has been the subject of vehement debate among lawmakers in Washington in recent weeks. US President Donald Trump speaks following a
Taxes
NIXVILLE, SC – APRIL 13: A man walks in front of a home destroyed by a tornado on April 13, 2020 … [+] near Nixville, South Carolina. A string of storms across the southern United States that began Easter Sunday and continued into today produced multiple tornados resulting in more than 30 deaths and dozens
The President’s disaster declaration opens a window to unusual tax claims Eyeing losses Getty Are you reporting net capital gains on the 2019 tax return you’re about to file? Have you already taken, or could you take, losses this year on bad stocks? Then you should visit your accountant for another look at Section 165(i)
Getty The Internal Revenue Service (IRS) continues to resume operations. According to the IRS Commissioner, as of mid-month, thousands of employees had returned to facilities in seven states (Kentucky, Texas, Utah, Georgia, Minnesota, Tennessee, and Missouri) with employees in four more states and Puerto Rico returning on June 29. The IRS will reopen facilities in
In March 2020, The Australian Taxation Office (ATO), the entity responsible for tax administration in Australia similar to the IRS in the US, was in the process of initiating the largest crypto tax crackdown. As news.com.au reported, the ATO was planning to send out crypto tax warning letters to 350,000 Australians. We are now seeing
WILD RIDE: Many ESPP purchases at the stock-price lows of March and April have led to big gains in … [+] the market rebound. Getty An employee stock purchase plan (ESPP) buys company stock for participants at set intervals, usually every six months. An ESPP can be a very good deal. Employees at companies with
Getty Winston Churchill once said in a speech, “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” While Churchill was referring the Allied defeat of Rommel in November of 1942, he could just as easily have been talking about the Covid-19 crisis. While lockdown restrictions have been
A person holding a remote control pointing at the TV. Getty Lawrence A. Zelenak, the Pamela B. Gann Professor of Law at Duke University School of Law, shares his findings from watching dozens of hours of tax-related sitcom episodes. This post has been edited for length and clarity. David Stewart: Larry, welcome to the podcast. Lawrence
Getty Confused about your estimated payment deadline? You’re not alone. The series of events leading up to the extension for estimated payments (not once, but twice) has left many taxpayers bewildered. Here’s what you need to know. In response to COVID-19, the Internal Revenue Service (IRS) announced in March that the tax filing season had been
Road work during highway repaving and widening project slows traffic. (Photo by: Education … [+] Images/Universal Images Group via Getty Images) Universal Images Group via Getty Images House Speaker Nancy Pelosi (D-CA) has rolled up many different committee bills into a single, massive 2,300-page, $1.5 trillion infrastructure package that the Democratic-controlled House likely will pass