Taxes

getty A Michigan man has pleaded guilty to conspiring to defraud the IRS and to stealing from an organization receiving federal funds. According to court documents, Mathew Schwartz owned a law firm called Legal Genius, P.L.L.C. (“Legal Genius”) in Southfield, Michigan. Another man, Jayson Rosett (also charged as a defendant) owned a company called Accident
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Economic Security Planning, Inc. Today’s column addresses questions about what’s possible after suspending a retirement benefit, survivor pensions based on a spouse’s non-covered pension, responding to a notice of overpayment from Social Security and why spousal benefits may not have been available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder
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WASHINGTON DC, OCTOBER 15: Albert Lauber, left, and Craig Hoffman pose in the front yard of thier … [+] Victorian Home off just off Logan Circle in Washington DC, October 15, 2014 (Photo by John McDonnell/The Washington Post via Getty Images) The Washington Post via Getty Images In a recent interview Judge Albert Lauber of
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UNITED STATES – CIRCA 1931: Al Capone, pictured in court during his trial, Chicago, 1931. He was … [+] sentenced to a 10 years in federal prison and one year in county jail for a total sentence of 11 years. (Photo by Chicago Sun-Times/Chicago Daily News collection/Chicago History Museum/Getty Images) Getty Images On this day
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The US Attorney General’s Cyber Digital Task Force recently issued a comprehensive report outlining the United States’ framework for enforcement against cryptocurrency-related crimes. This report explains emerging threats, enforcement challenges, and case studies. According to the task force report, tax evasion is one of the three major ways bad actors use cryptocurrency. This report adds
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Democratic presidential candidate Joe Biden’s current campaign plan would raise taxes by $2.4 trillion over the next decade, about 0.9 percent of Gross Domestic Product (GDP), according to an updated analysis by the Tax Policy Center. The burden of nearly all those tax increases would fall on high income households. In 2022, on average, all
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getty Together with the United States District Court for the Northern District of California, the Internal Revenue Service (IRS) Criminal Investigations (CI) division announced what is being called the largest ever tax charge against an individual in the United States. Robert T. Brockman, a 79-year-old resident of Texas, and the chairman and CEO of The
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Yesterday, I testified before the Ways and Means Subcommittee on Oversight on “tax fairness,” and the hearing spotlighted the reporting of new details on President Trump’s income taxes by The New York Times. The recent Times report filled out a picture of  Trump’s returns that began to emerge in earlier articles. This picture calls into
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On the latest episode of Willis Weighs In, Benjamin Willis, contributing editor for Tax Notes Federal, and Victor Fleischer, professor at University of California, Irvine School of Law and former Senate Finance Committee Democratic chief tax counsel, discuss possible post-election tax reform. Here are a few highlights . . . On changing the corporate tax rate Victor
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In this photo illustration the Internal Revenue Service (IRS… SOPA Images/LightRocket via Getty Images Regulators all over the world are struggling to come up with an effective tax policy for virtual currency transactions. Recently, the IRS was scrutinized by the government watchdog, The Treasury Inspector General for Tax Administration (TIGTA), about this very issue. A
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The coronavirus recession has dealt a devastating blow to millions of US workers, with consequences that could persist for years.  As the public health crisis drags on, for many people temporary furloughs and reductions in hours are turning into permanent job losses and pay cuts that disproportionately affect low-wage workers. Increasing income support through the
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Monday, the OECD released blueprints for proposals on changing international tax rules alongside an impact assessment based on the overall design of the proposals. While the blueprints cover proposals both for changing where large multinationals owe corporate tax and designing a global minimum tax, there are still many unanswered questions. The OECD has been working
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Economic Security Planning, Inc. Today’s column addresses questions about how retroactive filing affects benefit rates, when spousal benefits may be available and whether it’s possible or advisable to take a retirement benefit before a survivor’s benefit. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,
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