“Anticipation is makin’ me late… keepin’ me waitin’…” The IRS has until April 23 to provide President Trump’s tax returns to the House Ways & Means Committee. Panel chairman Richard Neal wrote a second letter to the IRS Commissioner Charles Rettig requesting the past six years of the president’s returns. He wrote that Treasury’s concerns
Some of the largest U.S. technology companies pushed for a corporate tax overhaul in 2017 by suggesting they would go on hiring sprees and boost the economy. Just over a year after getting what they wanted, data show these firms gave most of their huge tax savings to investors. The top 10 U.S. tech companies
Here are the biggest calls on Wall Street on Tuesday: Deutsche Bank upgraded the stock based on valuation and consensus subscriber estimates that the bank considers conservative. “The company now trades at 7.9x EV/2019 sales, vs in excess of 10x sales last summer, when we lowered our rating to Hold based on valuation. Our $400
You’ve probably heard of the Nissan Leaf, Chevrolet Bolt and Tesla Model 3. And most car companies, if they are not selling an electric vehicle, are working on bringing one to market. But consumers in the market for new cars have a right to ask “are we there yet?” when it comes to whether it
Getty Getty The tax filing deadline is upon us. If you are like many Americans, your initial thoughts are that you managed to get your 2018 tax return done without any big surprises. You might have taken advantage of the tax cuts that everyone was talking about. You probably even promised yourself that next year,
North Carolina Senate Finance Committee Chairs Ralph Hise (R), Paul Newton (R), and Jerry W. Tillman (R) this month introduced Senate Bill 622, the Tax Reduction Act of 2019. This bill includes several tax changes, but the most notable proposed structural improvement is a provision to reduce and cap the state’s franchise tax. North Carolina
Just about everyone who has studied tax law is familiar with the landmark Supreme Court decision in Eisner v. Macomber. It was first argued before the court 100 years ago, on April 16, 1919. (It was reargued later that year and decided in 1920.) The case involved stock dividends — additional shares — issued by
The OECD recently released the 2018 results of their “Risks that Matter Survey.” This survey covers a broad range of policy issues that people face in countries around the world. The survey covered more than 22,000 people aged 18 to 70 years old in 21 OECD countries. Several of the survey questions elicited responses on
CNBC’s Jim Cramer on Monday suggested that President Donald Trump stop targeting Federal Reserve Chairman Jerome Powell and let the chief carry out his current monetary policy plan. In a tweet on Sunday, Trump doubled down, again, on his criticism of Powell in the wake of the Federal Open Market Committee’s move to raise the
The Texas legislature is considering two pieces of legislation (Senate Bill 2 and Senate Joint Resolution 76) which are aimed at reducing local property tax burdens. SB 2 would cap property tax levy increases at 2.5 percent, while SJR 76 aims to mitigate property taxes by shifting part of the burden to sales taxes instead.
Drop the avocado toast. Many millennials can barely pay their tax bill. Six out of 10 people in this age cohort don’t have $500 set aside to cover what they owe the IRS for tax year 2018, according to a recent survey from Varo, an online savings bank. The company polled 1,200 U.S. consumers between
Today, April 15, brings to a close the first tax-filing season after the Tax Cuts and Jobs Act’s (TCJA) overhaul of the individual income tax system. Now that most Americans have filed their 2018 tax returns, it’s a good time to review what we know about the TCJA’s impact on individuals: Most Americans received a
Wendy Williams Divorce – What Does It Mean For Her Financial Empire? What will the Wendy Williams Divorce mean for her million dollar empire? (Photo by: Lloyd Bishop/NBC/NBCU Photo Bank via Getty Images) photo credit: NBCU Photo Bank via Getty Images Getty It has been reported that Wendy Williams has filed for divorce from her
With Tax Day here, taxpayers are scrambling to finish up their returns—both federal and state (that is, if their state has an individual income tax). At the same time, state budget officers are scrambling to figure out what their revenues will look like this year. With states still adapting to the Tax Cuts and Jobs
The European Union has taken a closer look at how Google uses operations in Ireland to help reduce its corporate tax obligations within the trade bloc, two people familiar with the matter said. Officials from the European Commission, the EU’s executive arm, held in-depth talks with Irish authorities late last year about whether the internet-search
Check out the companies making headlines before the bell: Goldman Sachs — The investment bank reported quarterly profit of $5.71 per share, beating the consensus estimate of $4.89. Revenue fell short of forecasts, however. Goldman also increased its quarterly dividend to 85 cents per share from 80 cents a share. Waste Management — Waste Management
If you ask any Republican member of the U.S. House of Representatives or the U.S. Senate what is the most significant fiscal accomplishment of the Trump presidency, the overwhelming answer would be the Tax Cuts and Jobs Act, or TCJA. When passed in December 2017, the TCJA did not have majority American support. Despite this
Close up of the fingers of a man dialing out on a land line telephone pressing the number keys on the keypad in a communications concept.Getty Last year, callers reported more negative robocalls on Tax Day than any other day. A whopping 143 million negative robocalls were placed on Tax Day in 2018, according to
Recent headlines touting a budding rebound in U.S. car sales should not be celebrated. The much lauded 17.5-million-unit figure reported for March auto sales was actually buoyed by fleet sales, which rose to a two-year high. Retail auto sales — a pure reflection of cars sold to individuals — fell 4 percent in March and
One big bank is not like the other. Financial giants J.P. Morgan and Wells Fargo kicked off earnings season on Friday, both issuing better-than-expected results. But while J.P. Morgan’s stock soared nearly 5%, Wells Fargo’s stock slid, ending the day almost 3% lower. Wells Fargo’s weakness came largely from softer profit guidance from CFO John