Taxes

President Trump mulls executive action for coronavirus relief. With no coronavirus relief deal yet in sight on Capitol Hill, the White House is considering unilateral actions. This includes executive orders to halt evictions. Will President Trump also follow the advice of Stephen Moore, a member of the White House’s economic recovery task force? He’s urging
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Economic Security Planning, Inc. Today’s column addresses questions about potential increases due to continuing to work after filing, eligibility for spousal benefits, filing on the record of a younger spouse and whether the WEP and the GPO will be invoked by a foreign pension. Larry Kotlikoff is a Professor of Economics at Boston University and
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“Try to see it my way…” Congress is still nowhere near an agreement on a fifth coronavirus relief package. Treasury Secretary Mnuchin and White House Chief of Staff Mark Meadows met with Speaker Pelosi and Senate Minority Leader Chuck Schumer over the weekend. Both sides expressed that there had been “progress,” but they remain very far
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TOPLINE With Congress and the White House deadlocked over what to do with the now-expired $600-per-week federal unemployment insurance benefit, millions of Americans are set to lose a crucial financial lifeline amid the pandemic and experts warn that could hurt an economic recovery. House Speaker Nancy Pelosi (D-CA), Senate Majority Leader Mitch McConnell (R-KY) and
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A Twitter logo is seen on a computer screen in this photo illustration on October 31, 2017. (Photo … [+] by Jaap Arriens/NurPhoto via Getty Images) NurPhoto via Getty Images Internal Revenue Service – Criminal Investigations (IRS-CI) has announced charges against three individuals for their alleged roles in the Twitter hack that occurred on July 15, 2020.
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Almost $130 billion in PPP funds remain available, even for businesses that have reopened getty Small businesses still have until August 8 to apply for potentially forgivable loans via the initial Paycheck Protection Program (PPP), which was extended from its original June 30 deadline. While the Continuing Small Business Recovery and Paycheck Protection Program Act, part
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Flags outside the United Nations building. getty Is there an appetite for global tax multilateralism? Michael Lennard is optimistic but cautious.  Lennard, chief of international tax cooperation and trade in the U.N. Financing for Development Office, thinks the world is not yet at a “high point for multilateralism,” even though taxation is a global issue in a
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Bad economic news. Gross domestic product, or  GDP, shrunk about 9.5 percent between the first and second quarters of 2020. That translates into a seasonally adjusted annual decline of 32.9 percent. Last week, 1,434,000 people filed new claims for unemployment benefits. The weekly enhanced unemployment benefit of $600, passed in March under the CARES Act, expires
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Bitcoin cryptocurrency representation is seen in this illustration photo taken in Poland on June 17, … [+] 2020 (Photo by Jakub Porzycki/NurPhoto via Getty Images) NurPhoto via Getty Images Unfortunately, scams are far too common in the cryptocurrency space. Last week, hackers broke into Twitter’s systems and lured innocent people into sending bitcoin into the
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             Senator Cornyn (R-TX) and a bipartisan group of Senators (including Chairman Grassley (R-IA) and Ranking Member Wyden (D-OR) of the Finance Committee) introduced legislation, S. 3162, the “Small Business Expense Protection Act,” a few weeks ago that would clarify that businesses that receive a loan from the Paycheck Protection Program (PPP) – and the loan
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Coronavirus relief talks: Divisions between the GOP and Democrats remain. The White House seems to have abandoned the $1 trillion stimulus package put together by Senate Majority Leader Mitch McConnell on Monday. Trump now says he wants only a short-term extension of enhanced federal unemployment benefits and to extend the federal moratorium on evictions: “The
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Today’s map shows gasoline tax rates in each state as of July 2020, using recently released data from the American Petroleum Institute. States levy gas taxes in a variety of ways, including per-gallon excise taxes collected at the pump, excise taxes imposed on wholesalers, which are passed along to consumers in the form of higher prices, and
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