theonlinetaxguy

Today, the OECD presented its preliminary impact assessment on the Pillar 1 and Pillar 2 proposals. The impact assessment includes estimated revenue and investment effects presented at a country group level (low-, middle- and high-income countries and investment hubs). The OECD estimates global corporate income tax revenues to increase by 4 percent if both pillars get implemented, equaling
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The following was presented at the European Economic and Social Committee’s hearing, “The Collaborative Economy – Data Exchange with Tax Authorities.” When designing their supply chains and investing across borders businesses generally follow what makes most sense from an economic point of view. Nevertheless, over past decades there has been a significant shift in how
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Tesla shares slid after the electric automaker said it plans a $2 billion common stock offering, just two weeks after CEO Elon Musk said the company would not take advantage of its surging stock to raise more capital. Musk himself will buy as much as $10 million of stock in this offering, while Tesla board member Larry Ellison
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The Trump Administration claims its budget would sharply reduce the deficit by 2030 and eliminate it altogether by 2035, thanks in part to substantial new tax revenues driven by persistently strong economic growth. But under more realistic economic assumptions, federal revenues over the next decade would fall more than $3 trillion short of President Trump’s
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The Internal Revenue Service introduced a new payment option in 2016 that lets individuals pay their taxes with cash at participating retail chains, but less than 700 payments have been made each year since the option was made available, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted
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Monday, the Office of Management and Budget (OMB) released the White House’s fiscal year 2021 budget proposal, kicking off the first step of the budget process for the next fiscal year. The president’s budget, while only a set of recommendations sent to Congress, communicates the White House’s policy priorities and is an opportunity to highlight
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Charles Munger David A. Grogan | CNBC Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, issued a dire warning about the future on Wednesday. “I think there are lots of troubles coming,” he said at the Los Angeles-based Daily Journal annual shareholders meeting. “There’s too much wretched excess.” Munger —
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About 115 pages into President Trump’s proposed 2021 budget are two line items that Medicare beneficiaries might want to take note of. While the president’s proposals pertaining to Medicare are largely aimed at behind-the-scenes shifts — i.e., lowering reimbursement rates to providers and rooting out waste or fraud — the budget also includes changes that
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As culture shifts, so does language. “Intentional living” started trending recently, and now there’s an entire movement behind it. The concept is wide-reaching, but the core idea is quite simple: Our daily actions, when purposeful, can build to create meaningful, thoughtful futures.  Or, to take it another way:  Self-discipline equals self-care. When you practice intentional
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CNBC’s Jim Cramer on Wednesday blasted Bed Bath & Beyond‘s decision to announce disappointing same-store sales figures well ahead of its fourth-quarter earnings release. However, Cramer said investors could use the subsequent stock plunge as a buying opportunity. “I would buy it,” he added. Bed Bath & Beyond shares sank about 25% on Wednesday after
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The benefits of itemized and standard deductions shifted during the 2019 tax reform, leaving most filers with even more questions. In order to file your return with confidence, it’s important to stay informed.   The standard deduction The standard deduction simplifies the filing process by assigning an easy, no-proof-required, flat-dollar adjustment to your gross income.
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The sharp divergence between Republicans and Democrats over the 21 percent corporate income tax rate was on display Tuesday at the House Ways and Means Committee as Democrats began making the case for a large increase should their party succeed in November’s elections. Several Democratic presidential candidates — including Senators Bernie Sanders, Elizabeth Warren, and
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