The IRS says that taxpayers in disaster areas have more to file their returns to qualify for the penalty relief under Notice 2022-36 for their 2019 and 2020 tax returns. Under Notice 2022-36, penalties for late-filing certain tax returns, as well as penalties for not reporting certain required information on the Form 1065 or Form
Month: October 2022
Ashley Graham is more than just a supermodel and entrepreneur, she’s also a mom to three beautiful boys, two-year-old Isaac and newborn twins, Malachi and Roman. As she approached the birth of her twins in early 2022, she realized not only would she need to design a nursery, but because they recently moved to a
Hyundai Ioniq 6 Hyundai DETROIT – The Biden administration’s elimination of tax credits for imported electric vehicles deals a massive blow to Hyundai Motor’s business, an executive for the automaker said Wednesday. Jose Munoz, global president and chief operating officer, declined to disclose a specific financial impact associated with the requirements of the Inflation Reduction
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Tesla CEO Elon Musk speaks at an event in Hawthorne, California April 30, 2015. Patrick T. Fallon | Reuters Tesla is expected to report third-quarter earnings for 2022 after the bell on Wednesday. CEO Elon Musk does not speak on every earnings call, but plans
In this article WFC Follow your favorite stocksCREATE FREE ACCOUNT Wells Fargo is one of the oldest and most powerful banks in the United States. Its reputation today is in tatters, following a notorious scandal that is still unfolding. Reports of fraudulent activity in Wells Fargo’s sales department first surfaced in 2013. The bank opened
Bernd Vogel | Getty Images Ultra-wealthy Americans can soon protect more assets from federal estate taxes, the IRS announced this week. Starting in 2023, individuals can transfer up to $12.92 million to heirs, during life or at death, without triggering a federal estate-tax bill, up from $12.06 million in 2022. Since married couples may share
Chamath Palihapitiya, Social Capital Founder and CEO CNBC A new buyback tax has motivated more and more SPAC sponsors to close up shop before the year-end, adding another headwind to the blank-check space already roiled by a tough market environment. A total of 27 SPAC deals, worth $12.8 billion, have been liquidated this year, according
Cavan Images | Cavan | Getty Images Inflation is causing American households to spend $445 more per month buying the same items they did a year ago, according to an estimate from Moody’s Analytics. Consumer prices jumped by 8.2% in September versus the same month in 2021, the U.S. Bureau of Labor Statistics said Thursday.
Supreme Court nominee and U.S. Court of Appeals Judge Amy Coney Barrett on Capitol Hill in Washington, October 21, 2020. Ken Cedeno | Reuters The Supreme Court on Wednesday was asked to block the Biden administration’s student loan debt relief program, which is set to take effect this weekend. The Brown County Taxpayers Association, a
When Congress returns for a short post-election session, one item on its to-do list is major retirement savings legislation that has broad bipartisan support. One feature of both House and Senate bills: Expanding a deferred annuity called a Qualified Longevity Annuity Contract (QLAC). Both bills would increase the allowable size of QLACs. That might make
Tax Notes contributing editors Robert Goulder and Joseph J. Thorndike examine the new alternative minimum tax and its likely effect on corporate America, all in five minutes. This transcript has been edited for length and clarity. Joseph J. Thorndike: The Inflation Reduction Act (P.L. 117-169) was signed into law last month, and taxpayers are still
In the face of economic headwinds, the housing market continued to cool down in September, though rebalancing from monumental appreciation is producing vastly different conditions depending on region and metro, according to Zillow’s latest market report. Affordability issues are driving the pullback in activity. Steep prices mixed with high and volatile mortgage rates have stunted
While there is excitement about the potential of renewable technologies such as tidal power, there are challenges when it comes to scaling up. Laro Pilartes / 500Px | 500Px | Getty Images The U.S. Department of Energy said $35 million in funding would be made available “to advance tidal and river current energy systems” under
In this article PG Follow your favorite stocksCREATE FREE ACCOUNT Containers of Tide detergent on grocery store shelves. Richard Levine | Corbis | Getty Images Procter & Gamble on Wednesday reported quarterly earnings and revenue that topped analysts’ estimates as higher pricing offset lower demand for its products. But the company also said it’s expecting
In this article AAPL WFC BAC JPM GS Follow your favorite stocksCREATE FREE ACCOUNT David Solomon, Goldman Sachs, at Marcus event Goldman Sachs CEO David Solomon is reining in his ambition to make the 153-year-old investment bank a major player in U.S. consumer banking. After product delays, executive turnover, branding confusion, regulatory missteps and deepening
Wpadington | Istock | Getty Images President Joe Biden on Monday announced the official launch of the student loan forgiveness application. The news comes just days after the U.S. Department of Education made available on Friday evening an early version of its student loan forgiveness application. During the application’s short so-called beta period, Americans with
We’ve all heard the problems with relying on numbers: garbage in, garbage out; liars figure, and figures lie; 87.2 percent of statistics are made up; and so forth. Yet some individuals do their retirement income planning by answering some questions in an online calculator, reviewing the results, and checking the box that their retirement planning
The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off folks to transfer much more to their heirs tax free during life—or at death. One key gifting change is to the annual exclusion: you will be able to give anyone else (and as many people as you want) $17,000 in
“What’s my apartment worth?” Every residential real estate agent in New York City hears that question at least once at every cocktail party or dinner with friends. And we are (or should be) always prepared, with a broad knowledge of market trends and enough information about the interlocutor to have at least some idea. One
Andrea Ellis has been appointed CFO of Fanatics Betting & Gaming. Source: Fanatics Fanatics is getting one step closer to launching its highly anticipated sports-gambling division, nearly five years after the Supreme Court overturned the rule preventing states from legalizing bets on sporting events. The sports platform and e-commerce company, which has been valued at
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