Hero Images | Getty Images If you’re eyeing your 401(k) account to help shore up your finances amid the coronavirus crisis, there are a couple of penalty-free ways you can do it if your employer allows it. Just be sure you’re aware of the long-term implications. Each of the options available — a loan or
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With the May jobless rate at 13.3 percent—an improvement over April but still terrible– policymakers are considering many ideas to support workers in the COVID-19 economy. One would continue government incentives to not work, an idea that seems crazy in normal times but may make sense today, when the pandemic still is keeping many people
President Donald Trump arrives for a photo opportunity with sheriffs from across the country on the South Lawn of the White House in Washington, September 26, 2019. Erin Scott | Reuters President Donald Trump, during a White House address to trumpet the surprising May surge in jobs that signaled a rapid economic recovery good be
Root of a problem; in the pipeline; little oversight; and other highlights of recent tax cases. Gretna, Louisiana: Resident Patricia Hargis has been sentenced to 21 months of home confinement as part of a three-year probation term for charges stemming from filing a false federal income tax return. Hargis admitted to understating her income in
The next normal for college students could be more distance learning. Yet the prospect of continuing to live at home with their parents may seem like a pale second-best compared with what rising sophomores and juniors have already tasted on campus, pre-pandemic. For incoming freshman, there’s a huge financial factor. “Families simply do not want
Online broker Charles Schwab received antitrust approval from the U.S. Department of Justice for its acquisition of TD Ameritrade, sources told CNBC’s David Faber on Thursday. Shares of Schwab jumped nearly 7% in premarket trading following the report. TD Ameritrade rose more than 9% before the opening bell. Schwab announced last November it would buy
After a pilot in May, the IRS is expanding its Virtual Settlement Days program in response to the coronavirus pandemic. The Office of Chief Counsel tested the online version of its Settlement Days last month with events in Detroit and Atlanta. The Detroit office expanded its program to eight days; the Atlanta office expanded to
Business owners who received a forgivable loan through the Paycheck Protection Program are likely getting more leeway on how to spend those funds. The Senate passed legislation Wednesday night that restructures how entrepreneurs can use loans issued through a new federal relief program for small businesses ailing from the economic contagion unleashed by the coronavirus
Will the next coronavirus relief bill contain new rebates? Republican lawmakers are beginning to question including rebate checks in the next stimulus bill. They’d supplement the $1200 checks given to Americans in the previous relief package. Senate Republicans say they’ll focus on expanding the Small Business Administration’s Paycheck Protection Program. Some Senate Republicans, such as
The Organisation for Co-operation and Economic Development (OECD) has compiled tax revenue data for countries around the world—including 26 Latin American and Caribbean (LAC) countries, where tax revenue as a percent of GDP is on average 11 percentage points lower than in other regions. On average, the tax-to-GDP ratio for 25 countries (excluding Venezuela due
CNBC’s Jim Cramer on Thursday warned young investors about the potential pitfalls of daytrading in speculative stocks, especially the really cheap ones. “It’s a little disheartening to see all the $1 to $3 stocks that people are gunning,” Cramer said on “Squawk on the Street.” ”If you want to try and make money and it’s legal,
The Harborside case is not the first time that an entity specializing in the processing, sale or distribution of cannabis has challenged the constitutionality of Code Section 280E, but it is very likely the largest and the most closely watched case. And if the Ninth Circuit agrees with the appellant, it will ultimately be decided
Image of workplace with computer monitor and armchair in the living room at home AnnaStills Amid the coronavirus pandemic, millions of employees have been shut out of their offices and required to work from home. The massive change has many companies evaluating what they can do to make the transition smoother for their workers. One
Corporate tax codes should be designed to be easy for businesses to comply with and for governments to administer and enforce. Today’s map shows how complex—or easy—it is to remit corporate taxes across Europe. One way to quantify corporate tax code complexity is to measure the time needed to comply with the tax administratively. The
The Trump administration is starting investigations into digital services taxes considered by several trading partners from the European Union to India that could lead to tariffs being imposed on the countries’ exports to the U.S. The probe announced Tuesday encompasses digital taxes that have been either adopted or are under consideration in Austria, Brazil, the
Corporate and nonprofit leaders are echoing the anger, pain and frustration expressed by many Americans after the death of George Floyd, the 46-year-old black man who died in police custody in Minneapolis on May 25 after a white officer kneeled on his neck for more than eight minutes. On Monday several black leaders in business
The digitalization of the economy has led more companies to adopt virtual operations, disrupting traditional means of consumption and income taxation. This has led to a heated debate on how best to tax the digital economy. Despite the OECD stepping in to negotiate a global framework, some countries have taken unilateral action, implementing problematic digital
The Health and Economic Recovery Omnibus Emergency Solutions Act, HEROES Act, would substantially increase the earned income tax credit (EITC) for workers without children at home. Not only would this benefit these workers, often called “childless,” but Urban Institute research finds that such a change would target benefits to workers in many of the industries
In late May, EURACTIV (a media company focusing on EU policy and politics) reported that member states would ask the European Commission (EC) to include novel nicotine products such as heated tobacco products and vapor products in the EU Tobacco Excise Directive. Novel products are currently regulated under the EU Tobacco Products Directive but are
Zoominfo Source: zoominfo ZoomInfo is aiming to price its initial public offering $1 ahead of its already-buoyed price range, two sources familiar with the matter told CNBC. The company had already raised their IPO price range Tuesday morning, but now could target as high as $21 a share and rake in nearly $1 billion. ZoomInfo,
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