The Internal Revenue Service is planning to update its user agreement for taxpayers and tax professionals accessing its e-Services applications online in an effort to improve security. In an email to tax professionals Friday, the IRS said that starting October 14, e-Services users, after entering their accounts, will see a pop-up asking them to accept
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Despite the widespread belief that small businesses are a target for IRS audits, nearly a third of small-business owners think they overpay their taxes, according to a survey by B2B research firm Clutch of over 300 small-business owners and managers. “If they think they’re paying too much, they’re questioning the accuracy of their tax return,”
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Credit: Getty images, royalty free The latest employment data show that many older workers, who face pressures to work longer because they have little in savings, also encounter obstacles to working longer in the labor market. The overall labor market outlook for older workers is improving. But older workers in population groups that typically face
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President Trump last week asked the Treasury Department to review the rules surrounding Required Minimum Distributions (RMDs) for traditional Individual Retirement Accounts and 401(k) plans. Updating RMD life expectancy tables, which are now 15 years old, makes sense. But slowing the amount people must withdraw from their IRAs and 401(k)s (and pay taxes on) will do
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Wall Street may be whirling about Facebook and Twitter’s brushes with Congress, but CNBC’s Jim Cramer doesn’t believe the hype. “I’ve got a sneaking suspicion that the so-called experts who bloviate about the death of advertising on the web don’t actually, you know, communicate on the web,” the “Mad Money” host said Thursday. Cramer argued
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House Republicans are moving closer to introducing tax legislation that would make changes to savings accounts that Americans rely on for retirement, education and more. The House Ways and Means Committee on Thursday provided Republicans with an updated version of what will be included in so-called Tax Reform 2.0, which largely aims to make the
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An employee scans an item at the Amazon.com fulfillment center in Robbinsville, New Jersey, U.S., on Thursday, June 7, 2018. Photographer: Bess Adler/Bloomberg Bernie Sanders (I-VT) and Ro Khanna (D-CA) just introduced the ‘‘Stop Bad Employers by Zeroing Out Subsidies Act’’ (or Stop-BEZOS) that would punish big companies like Amazon, Walmart, and McDonalds for paying
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The Internal Revenue Service amendments to the Code Sec. 482 regulations in 2003 requiring stock-based compensation to be allocated under cost-sharing agreements with foreign subsidiaries had adverse tax consequences for many multinational companies that had tended to allocate those costs to the U.S. entity where those employees were located. The Tax Court’s unanimous decision in
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