Taxes

The IRS has released its “Dirty Dozen” tax avoidance and fraud list for 2022, consisting of heavily promoted transactions likely to attract IRS scrutiny, consumer-focused fraud, and activities targeting high-net-worth individuals. “Dirty Dozen” activity tends to be most prevalent during the filing season. The IRS has compiled the annual list for more than 20 years

Today’s Social Security column addresses questions about how filing early can affect benefits for a spouse, whether an ex’s state pension can reduce divorced spousal benefits and when spousal benefits can become available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more

IRS Forms 1099 allow computer matching of Social Security numbers and dollar amounts paid. That makes it possible for IRS collection efforts to be streamlined and automated. Failing to report a Form 1099 on your tax return (or at least to explain it) is likely to get you an IRS notice in the mail asking

Topline Mortgage rates have surged higher this week as markets digest more aggressive interest rate hikes from the Federal Reserve, and with the average 30-year fixed mortgage rate hitting its highest level since 2008 experts warn that warning signs in the housing market could spell trouble for the broader economy. Key Facts The average interest

Raymond Stahl of Ernst & Young discusses concerns about the final regulations for claiming foreign tax credits, particularly how they affect creditability, withholding, and treaty benefits. 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:

The European Commission’s appeal in the high-profile case concerning selective aid allegedly granted by Luxembourg to subsidiaries of Amazon.com may cast light on the murky role of the burden of proof in state aid cases. The decision in Luxembourg v. European Commission and Amazon EU Sàrl and Amazon.com Inc. v. European Commission, joined cases T-816/17

Today’s Social Security column addresses questions about when you might need to and when you can file retroactively, how disability benefits are calculated versus standard retirement benefits and reduction rates for filing early. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more

Senator Rick Scott (R-FL), who last February proposed taxing millions of low-income households that currently pay no income tax, has released a new version that largely walks back those tax hikes. But while its details are even murkier than his original, Scott still may be looking to hike taxes on many of those same households.

Depending on your income in 2021, you may be feeling the pain of paying your state and federal income taxes. Some of you reading this post may be feeling a bit more pain based on the state within which you live, how you earn your income, and whether or not you own a home. The

Today’s Social Security column addresses questions about child benefits and the earnings test, effects of not working for a number of years before filing and how delayed retirement credits are applied to benefit rates. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See