Taxes

The IRS is giving more extensions of time, this time to Hurricane Ian victims throughout both North Carolina and South Carolina. They now have until Feb. 15, 2023, to file various federal individual and business tax returns and make tax payments. This is similar to relief announced last week for Ian victims in Florida. The

The sentencing of Joshua Burrell to 48 months in federal prison is the sad ending to what started out as an optimistic story about opportunity zones living up to the vision that Sean Parker and Senator Tim Scott must have had when they backed the idea. As I reported in the story on his indictment,

President Biden is proposing a three-month federal gasoline tax holiday. He may want to appear to be doing something to address high inflation, which is both an economic concern and a growing political problem for his Administration. But suspending the gas tax is a terrible idea that, on the margin, will make inflation worse, not

The U.S. Supreme Court officially overturned Roe v. Wade on Friday, eliminating the constitutional right to an abortion after almost 50 years. Experts predict it will lead to all but total bans on the procedure in about half of the states. When it comes to how much public money is spent on abortions via Medicaid,

Legal advisors will need to come up to speed on the new gun law changes. I hope that this helps. On Tuesday, June 21, the Senate advanced a gun safety bill, the Bipartisan Safer Communities Act, with a vote of 64-34. Just days later, the Supreme Court announced its decision in New York Rifle &

The Supreme Court has been busy the last couple of weeks. In addition to issuing several decisions it granted a writ of certiorari for a case that will determine how penalties apply for non-willful violations of foreign account compliance reporting. But in late May it handed taxpayers with certain types of collections actions before the

Share to Facebook Share to Twitter Share to Linkedin Rising interest rates are setting the stage for several crises around the world. This segment of What’s Ahead lays out why there’s a really big one brewing with the Japanese yen. For years Japan has been defying economic laws of gravity: a stagnant economy, government spending

Now that McDonald’s has agreed to pay France a blockbuster €1.25 billion in back taxes and fines, labor unions are calling the settlement a success for union activism in the corporate tax space. The story dates back to 2015, when a coalition of European and U.S. labor organizations (the European Federation of Public Service Unions;

On June 21, 2022 the Supreme Court of the U.S. (SCOTUS) granted a writ of certiorari in the case of Bittner v. United States. The case is expected to settle, once and for all, whether penalties for not filing an annual Report of Foreign Bank and Financial Accounts (FBAR) apply per form or per account.

Share to Facebook Share to Twitter Share to Linkedin Is too much inflation crushing your summer vacation plans? President Joe Biden has a holiday for you — at the gas pump. Biden is set to request from Congress a three-month, emergency relaxation of the federal tax on gasoline. By removing that tax of 18.4 cents