theonlinetaxguy

visualspace | E+ | Getty Images You probably have a financial junk drawer — a hodgepodge of incomplete financial projects, goals and even a few secrets. Lots of people have one, says Amanda Priebe, a certified financial planner and wealth strategist at PNC Wealth Management. But unlike that kitchen drawer filled with old packets of
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Key Findings In general, large industrialized nations tend to have higher statutory corporate income tax rates than developing countries. The worldwide average statutory corporate income tax rate, measured across 176 jurisdictions, is 24.18 percent. When weighted by GDP, the average statutory rate is 26.30 percent. Europe has the lowest regional average rate, at 20.27 percent
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This month a new five-year term for the European Commission began. Now led by President Ursula von der Leyen, the Commission has a broad agenda including several tax policy proposals, many carried over from the previous Commission. These include policies that would change the taxation of large multinationals corporations, and digital services, and target carbon
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Jim McGuire | Getty Images A new proposal in Congress aims to resurrect an old tradition: mailing Social Security statements to your home. Since 2011, the Social Security Administration has cut back on the number of paper statements it puts in the mail in order to save money. A new bill, called the Know Your
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Joe Myszka, a partner at DLA Piper, discussed the proposed rules on cloud computing transactions with Tax Notes legal reporter Kristen Parillo. Read the podcast transcript below. This post has been edited for length and clarity. David Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: Regulating the Cloud. Earlier this year, Treasury and the IRS issued
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Jordan Siemens | Getty Images When Tara Unverzagt started her own financial planning firm, South Bay Financial Partners, in 2014, she already had a head start. That’s because Unverzagt’s mother, Janet Tussing — one of the first female certified financial planners — was retiring and passed along her book of business. Those clients ranged from
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Getty Public and private organizations often implement labor-intensive policies and procedures to govern interactions between related parties. These compliance requirements frequently sacrifice administrability in favor of precision. Let’s say that the finance director of a U.S.-based multinational’s foreign distributor needs to lower the transfer prices on its intercompany inventory imports. The local currency has declined
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“à la guerre comme à la guerre.” The French government says the European Union will retaliate if President Trump makes good on his threat to impose steep tariffs on French products—as much as 100 percent on about $2.4 billion in imported goods like wine, cheese, and designer clothes. Trump issued his threat in response to
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The Internal Revenue Service’s Criminal Investigation division identified $1.8 billion in tax fraud in 2019, with a 91.2 percent conviction rate for all financial crimes, according to the division’s 100th annual report released Thursday, which also highlighted a continued focus on employment tax, cryptocurrency and cybercrime. This year’s report, which marked the agency’s 100th anniversary,
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