Taxes

There was a real shocker in the December 6th (2022-218) issue of the EO Tax Journal. In the Editor’s Notebook section Paul Streckfus was commenting on an article by Roger Coinavaux calling for reform of donor advised funds. Streckfus was his usual gloomy self noting that the intermediaries through their lobbyists have the clout to

Cities are central to prosperity as hubs of innovation and growth, but they labor with persistent inequality, driven by America’s deeply entrenched anti-urban policies and politics. I argue in a new book that economists don’t pay enough attention to anti-urban state and federal policy and structural racism in our metropolitan areas, making it harder to

Share to Facebook Share to Twitter Share to Linkedin It’s getting too easy to cut taxes on your investments. Politicians who like to “close loopholes” are going to notice. There’s still time. You’ve got two weeks left to take capital losses, using them to cut your 2022 tax bill. This is a use-it-or-lose-it proposition. It’s

Taxpayers claim that IRS penalties are not warranted for many reasons. One of the biggest and most misunderstood is the defense that a tax position was based on reasonable cause and that you acted in good faith. Those seem like friendly, easy-to-understand words, but they are actually terms of art. Even if a taxpayer thinks

The speed and accuracy of quantum computing makes it ideal for collecting and analyzing data, modeling the impact of proposed tax legislation, and predicting and detecting tax evasion. Computers using quantum technology can instantly solve computational problems that could take an ordinary PC decades. These same qualities, however, threaten data security. Quantum Computing Quantum computing

Talks on the expansion of the Child Tax Credit appear to have stalled, with a key sticking point being opposition of some lawmakers to making the credit fully refundable – or allowing low-income families to qualify for the maximum credit regardless of how much they earn. However, there are potential compromises short of full refundability

Last year, I published a piece about the top myths regarding the Employee Retention Credit (ERC) that was preventing business owners, charity managers and Indian tribes from claiming this important tax incentive. Now, the misinformation has gone the other way, and businesses (as well as tax-exempt/charities and Indian tribes — but I will just use

In the second installment of a three-episode series, Jennifer Acuña, now with KPMG and former tax counsel for the House Ways and Means Committee, discusses how guidance for the Tax Cuts and Jobs Act is still evolving. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David

A series of reports in The Wall Street Journal informs readers that U.S. employment will decrease by 1.5 million if, as Democratic leaders wish, the expanded child tax credit (CTC) that was temporarily in effect in 2021 is reenacted and replaces the current-law child credit. In April 2021 President Biden proposed a five-year extension of

Year-end tax planning this year is likely to be different than the last few years, especially for retirees. Many retirees should take a close look at their estimated tax payments and determine if they need to adjust their last payment, due January 15, to avoid penalties. Interest rates increased in 2022. A result is many