Taxes

Getty When I was younger, a family friend gave us a pile of old dresses. Hand-me-downs weren’t new to us, and my mom was an amazing seamstress who could make almost anything look terrific (she handmade both of my prom dresses and most of my church dresses). But I didn’t have my mom’s talent. I

As benefits expire, rent comes due, the school year looms and states struggle, Washington’s warring factions are racing to rescue the economy and their political fortunes. Tom Williams/CQ-Roll Call, Inc via Getty Images, Mario Tama/Getty Images, Alex Wong/Getty Images, Doug Mills-Pool/Getty Images. Design by Forbes The coronavirus pandemic has taken an inconceivable toll on the

The Fed’s new municipal lending powers are not the solution to the massive fiscal problem facing states and cities. That’s up to Congress, and the focus needs to be on overcoming damaging and stubborn Republican opposition to increased state and local aid. State and local governments face a massive revenue shortfall, and more revenue is

Economic Security Planning, Inc. Today’s column addresses questions about the effect of taking widow(er)’s benefits before delayed retirement benefits, the chances of future Social Security benefits being reduced due to current financial shortfalls and WEP reductions with more than 20 years of substantial covered earnings. Larry Kotlikoff is a Professor of Economics at Boston University

NEW YORK, March 18, 2020 — A trader works on the floor of the New York Stock Exchange the day that … [+] the Dow Jones Industrial Average fell to its lowest point since February 2017. Michael Nagle/Xinhua News Agency/Getty Images As governments deal with paying for Covid-19 expenses amid falling tax revenue and shrinking

WASHINGTON, DC – JULY 20: U.S. President Donald Trump talks to reporters while hosting Republican … [+] Congressional leaders and members of his cabinet in the Oval Office at the White House July 20, 2020 in Washington, DC. Trump and his guests talked about a proposed new round of financial stimulus to help the economy

M&A – acronym from wooden blocks with letters, mergers and acquisitions M&A concept, top view on … [+] grey background Getty As vulnerable businesses continue to struggle with the effects of COVID-19, there has been an uptick in mergers and acquisitions. Whether these deals have unintended tax consequences, however, may depend on choices that the buyer,

Celebrate more tax-free income with a ROTH IRA in 2020. Getty The Roth IRA has been around for more than 20 years, and many people may take them for granted. Even modest contributions over time can translate into a substantial amount of tax-free income throughout your retirement. The uber-rich may wish for the tax-free income

With stimulus checks to process, truckloads of unopened mail, and staff unavailable to resolve flags … [+] on electronically filed returns, the IRS has fallen behind issuing 2019 tax refunds. Andrew Harrer/2019 Bloomberg Finance Hope you had a Happy Tax Day. I’m still waiting for my refund. I filed my 2019 individual income tax return

In 1970, Philadelphia’s Franklin Institute got a Moog synthesizer—a giant, unwieldy computer that created music. The sound was weird and quite evidently electronic. My fellow high school science geeks and I found it endlessly fascinating. But we couldn’t imagine how wonderfully diverse and inventive electronic music would become. It’s grown into a mainstay of pop music and enabled

WILMINGTON, DELAWARE – JULY 14: Democratic presidential candidate former Vice President Joe Biden … [+] speaks at the Chase Center July 14, 2020 in Wilmington, Delaware. Biden delivered remarks on his campaign’s ‘Build Back Better’ clean energy economic plan. (Photo by Chip Somodevilla/Getty Images) Getty Images Experts are now warning of the likely impact of

Getty July 15, 2020, marked the end of tax season for those taxpayers not on extension. The revised due date made for an interesting tax season, for sure, but even so, some things are universal – and that includes tax advice. I asked some of the best tax folks I know to share their top

The IRS warns about the top 12 taxpayer scams. Getty Tax season is finally over, unless you opted for a filing extension until October 15, but tax scams are still brewing. The Internal Revenue Service released its annual Dirty Dozen tax scams today with a warning about aggressive and evolving schemes related to Covid-19 tax

Are you watching for your tax refund? The July 15 tax deadline is now behind us, so unless you extended to October 15 to cut your audit risk, you might be thinking about a juicy tax refund that you hope will come quickly. The day after tax day, the IRS is quick to remind everyone

TOPLINE Major banks kicked off earnings season on Tuesday, leading the market higher, as investors rotated out of big tech stocks and remained wary about the recent surge in new coronavirus cases across the United States. The market is bracing for its worst earnings season in 12 years. Johannes Eisele/AFP via Getty Images KEY FACTS

Getty This Tax Day doesn’t sure doesn’t look – or feel – like any other Tax Day.  Due to Covid-19, the original filing deadline and tax payment due date for 2019 was postponed from April 15, 2020, to July 15, 2020. With many states still under travel and work restrictions due to the pandemic, some

A budtender (right) shows cannabis buds to a customer at the Green Pearl Organics dispensary on the … [+] first day of legal recreational marijuana sales in California, January 1, 2018 at the Green Pearl Organics marijuana dispensary in Desert Hot Springs, California. / AFP PHOTO / Robyn Beck (Photo credit should read ROBYN BECK/AFP/Getty

May state sales tax receipts shrank by nearly $6 billion, or 21 percent, compared to May 2019, according to data compiled by the Tax Policy Center. State stay-at-home orders, decisions to close businesses, states’ sales tax filing and payment deadline extensions, and COVID-19 cases all contributed to the freefall of sales tax revenues. State sales tax revenue

Atlanta, Georgia, USA Downtown Skyline Aerial. Getty The state of the conservation syndication easement industry brings to mind one of my favorite Kingston Trio songs – Everglades. Where a man can hide and never be found And have no fear of the bayin’ hound But he better keep it movin’ and don’t stand still If

Economic Security Planning, Inc. Today’s column addresses questions about how retirement benefits before spousal benefits might be beneficial, about reduced retirement benefits before a survivor’s benefit and whether moving to a US territory would prohibit payment of benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic