Taxes

President Biden’s fiscal year 2024 budget would revive 2021’s enhanced child tax credit (CTC) with some new twists that seek to make the credit work better for families. But in doing so, the plan would likely deliver extra benefits to some very well-off families. It could also increase complexity – pushing against a key argument

Today marks the final day of March and the conclusion of Women’s History Month. This month is a time to recognize the women who served as trailblazers, and inspire those that are blazing new trails for the next generation. While the progress of women in history is clear, that progress has stalled in the absence

Hush money sounds dirty or illegal, but many businesses pay it on occasion. There are important tax rules at play, and everyone in business should know the key rules. Let’s start with the fact that just about every kind of payment has tax consequences, to both the recipient and to the one who paid the

Facebook’s tax dispute over the pricing of transactions with an offshore subsidiary marks the first time an important anti-profit-shifting regulatory regime has been challenged in court, and the outcome will have major consequences. During a lengthy Tax Court trial, Facebook has vigorously contested the IRS’s valuation of intellectual property and other intangible rights contributed to

The collapse and federal takeover of Silicon Valley Bank (SVB VB ) and Signature Bank is generating worries about where the next bank failures might occur. Will they hit smaller banks with high commercial real estate (CRE) exposure, as the CRE sector faces persistent economic challenges? And why do we continue seeing periodic financial sector

When you’re in law school, you often dream about having a case that makes it to the Supreme Court. Rachael E. Rubenstein of Clark Hill knows that feeling—and in her case, it actually happened. Statistically, that dream is a long shot. The Term of the Supreme Court begins on the first Monday in October and

Whether expected or not, the upheaval of job loss gives you much to think about. Don’t forget any stock options or restricted stock units (RSUs) that you were granted and are still available to you. Too many departing employees forfeit valuable potential gains from their equity awards because they were unaware of the post-termination rules,

This year marks 50 years of VAT in the United Kingdom. Although the VAT implementation date (April 1, 1973) coincided with All Fools’ Day, the Chancellor of the Exchequer at the time, Sir Anthony Barber, was rather serious when he made a bold statement that “VAT will be a simple tax on the supply of

Grace Perez-Navarro discusses her long career at the OECD Centre for Tax Policy and Administration and what’s next after her retirement. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: graceful exit. Grace Perez-Navarro has

A handful of extremely wealthy US taxpayers holds trillions of dollars in foreign accounts, much of it in tax havens and through partnerships, according to a new study based on data reported to the IRS by foreign financial institutions. Since 2015, the Foreign Account Tax Compliance Act (FATCA) has required foreign banks, investment funds, and