Taxes

July 15, new day of payment of taxes, extended period for pandemic in America, fund with IRS form. Getty Kelly Phillips Erb, the managing shareholder of Erb Law Firm PC and a Forbes senior contributor known as @taxgirl on Twitter, talks to Tax Notes reporter Jonathan Curry about the abnormal 2020 tax season. This post has been

Getty Back in April, I wrote about Bank of America’s horrible handling of Payroll Protection Loans. I wrote about a case I knew — my own. After my column appeared, I received one email after another written by business owners who experienced the same nightmare. I then wrote a column, copying some of these emails,

Getty If you’re a small business owner, it’s likely that the COVID-19 pandemic has left you little time to think about the upcoming tax filing deadline on July 15. Over the last few months, you’ve dealt with temporary lockdowns, lost revenue and layoffs—all while applying for desperately needed assistance.  Many small business owners understandably breathed

WASHINGTON, DC – APRIL 27: The Internal Revenue Service headquarters building appeared to be mostly … [+] empty April 27, 2020 in the Federal Triangle section of Washington, DC. The IRS called about 10,000 volunteer employees back to work Monday at 10 of its mission critical locations to work on taxpayer correspondence, handling tax documents,

Bob Jones, Jr., and Bob Jones III (younger man wearing gray suit), president of Bob Jones … [+] University, outside U.S. Supreme Court during hearing on tax exemption case. Bettmann Archive The Key Words The second part of President Trump’s education tweet has the key words that form the basis for an IRS attack on

WASHINGTON, DC – NOVEMBER 30: United States Supreme Court (Front L-R) Associate Justice Stephen … [+] Breyer, Associate Justice Clarence Thomas, Chief Justice John Roberts, Associate Justice Ruth Bader Ginsburg, Associate Justice Samuel Alito, Jr., (Back L-R) Associate Justice Neil Gorsuch, Associate Justice Sonia Sotomayor, Associate Justice Elena Kagan and Associate Justice Brett Kavanaugh pose

Virginia La Torre Jeker Courtesy of Virginia La Torre Jeker Tax Notes International contributing editor Nana Ama Sarfo talks with Virginia La Torre Jeker, a U.S. tax attorney based in Dubai, about establishing her tax practice abroad, the challenge of balancing family life with career, and recent international tax issues. This post has been edited for

Getty Short of a game-changing vaccine, our only sure way of ending COVID-19 before it kills or sickens millions more of us is testing every American every day. Imagine we could do this and quarantine everyone who tested positive until they were no longer infectious. The virus would be fully imprisoned within days. With no

WASHINGTON, DC – JULY 10: U.S. President Donald Trump leaves the White House on Marine One, on July … [+] 10, 2020 in Washington. DC. President Trump is traveling to Florida and will attend several events before returning to Washington. (Photo by Win McNamee/Getty Images) Getty Images My Trump Coverage So Far Ever since I

July 15, 2020 is the final day you can make Individual Retirement Account contributions for 2019. Getty As the official July 15, 2020 tax day deadline is fast approaching and plenty of taxpayers have yet to file 2019 returns and 2020 estimated payments, the Internal Revenue Service is urging folks to file and pay electronically,

WASHINGTON, DC- Nov 18: Sen. Bernard Sanders, I-Vt., and Barbara Kennelly, of the National Committee … [+] to Preserve Social Security and Medicare, talk to media after a meeting on progressive alternatives to proposals made by the deficit commission. (Photo by Scott J. Ferrell/Congressional Quarterly/Getty Images) CQ-Roll Call, Inc via Getty Images The Democrats probably

Benjamin M. Willis, contributing editor with Tax Notes Federal, and William D. Alexander, of counsel of tax at Skadden, Arps, Slate, Meagher & Flom LLP, discuss tax guidance and step transaction. Here are a few highlights . . . On the IRS’s private letter ruling program William Alexander: [PLRs are] not as efficient as writing regulations or

Economic Security Planning, Inc. Today’s column addresses questions about whether dependent benefits are affected by the earnings test, how delayed retirement credits for retroactive benefits are calculated and how repayments of overpayments are calculated. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

Getty The tax filing deadline for individual taxpayers is just a week away. If you’ve been pushing off filing, you may want to consider filing for an extension. It only takes a few minutes, there are no special hoops to jump through, and there’s no fee payable to the Internal Revenue Service (IRS). And contrary

A letter from the Internal Revenue Service, signed by President Trump, notifies a family via U.S. … [+] Mail of an economic impact payment direct deposit made to their account in East Derry, N.H., Monday, April 27, 2020. The funds were provided as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. (AP

Tax Day 2020 is July 15. If you haven’t yet filed your federal tax return, you need to decide … [+] whether to go for it now or get an extension. peter dazeley The deadline for 2019 federal tax returns is July 15. The IRS has made it clear that the due date, postponed from

Economic Security Planning, Inc. Today’s column addresses questions about the ability to receive spousal benefits after filing early for Social Security retirement benefits, taking Social Security survivor benefits before retirement benefits and whether a survivor’s benefit from a non-covered pension would affect Social Security retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston

WASHINGTON, DC – JUNE 05: U.S. President Donald Trump shushes journalists before signing the … [+] Paycheck Protection Program Flexibility Act in the Rose Garden at the White House June 05, 2020 in Washington, DC. In the midst of nationwide protests against the death of George Floyd, the U.S. Labor Department announced the unemployment rate

             Congress is sharpening its pencils as to the next round of legislation seeking to address the problems facing the nation due to the continuing impact of Covid-19. High on the list — as a means to encourage economic growth — is expanding the R&D tax credit. Time for business owners to make sure they are taking a

IRS privacy coin crackdown Shehan Chandrasekera 2020 has been a year with a lot of turmoil but regulators’ attempt to crackdown on cryptocurrency has not slowed down whatsoever (350,000 Aussie Crypto Users Are Receiving Tax Warning Letters, The IRS Is Hiring Consultants To Crack Down On Cryptocurrency Tax Evasion). A new listing posted on the