Taxes

Last year, the US resident population increased by 0.4%, or 1,256,003, to 333,287,557, according to the Census Bureau’s population estimates. The growth was felt most acutely in the South, the fastest-growing and the largest-gaining region, with totals rising 1.1%. Some states—like South Carolina—are increasingly wary of what that means and are considering steps to address

Tax season is here, which can be a treacherous time for small business owners who have avoided proactive tax planning. If you find yourself with a higher-than-expected tax liability for 2022, opening and fully funding a SEP IRA may be a way to slash your 2022 taxes. To benefit from a SEP IRA, you should

Like it or not, we face a hard fiscal truth. Uncle Sam, like the rest of us, has a budget constraint. Economists call it the government’s intertemporal budget constraint (IBC). It’s as fundamental an equation in economics as the conservation of energy is in physics. It’s also called the No Ponzi-Scheme Condition. It rules out

The conviction of Donald Stanley Lavigne on seven counts of knowingly and fraudulently filing false income tax returns and three counts of other false statements relating to bankruptcy was somewhat curious. The income tax issue was omitting 1099-MISC income from being an insurance broker. The total income involved averaged just over $50,000 per year for

Robert Goulder of Tax Notes and Jefferson VanderWolk of Squire Patton Boggs (US) discuss the problems with the OECD’s pillar 2 UTPR, formerly known as the undertaxed profits or undertaxed payments rule. This transcript has been edited for length and clarity. Robert Goulder: Welcome to the latest edition of In the Pages, I’m Bob Goulder,

Tax day is April 18 this year, but now disaster-area taxpayers in most of California and parts of Alabama and Georgia have until Oct. 16 to file various federal individual and business tax returns and make tax payments. The IRS previously postponed the deadline to May 15 for these areas. The IRS is offering relief

The 2023 tax-return season is unlike others in recent memory for employees who have equity compensation, whether stock options, restricted stock units, employee stock purchase plans, and/or and company shares. The impact of the down and volatile markets of 2022 can complicate your tax return. Another increasingly common issue for tax reporting involves interstate employee

Today’s Social Security column addresses questions about whether child-in-care spousal benefits time out, taking retirement benefits before spousal benefits and what effects living and working outside the US might have on Social Security benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See

For years, the IRS has made clear that their first contact with you will not be a text or email. But it turns out that it might be a knock on your door. Residents of Floyd County, Georgia, were shocked recently when they saw a man visiting homes claiming to be from the IRS. Several

In Japan, young people are drinking much less than previous generations. This should be a good thing, right? From a health perspective it is, but from a revenue perspective, not so much. It turns out that the teetotalism has caused a steep decline in the country’s liquor tax revenue, to the concern of Japan’s National