For older Americans, Social Security promises guaranteed monthly income. Except when you have certain kinds of unpaid debt. While most creditors — i.e., credit-card companies or other lenders — can’t touch your Social Security payments, some types of delinquent debt can reduce those monthly checks. And when they do, look out. “If you’re actively paying
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To facilitate and foster cross-border trade and to prevent significant competitive distortions, the European Union requires EU countries to levy a minimum excise duty of €0.36 per liter (US $1.61 per gallon) on gas. As today’s map shows, only Bulgaria sticks to the minimum rate, while all other EU countries opt to levy higher excise
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Few parts of the tax code seem to generate more widespread misunderstanding than the rules for selling a home. At least, that’s been my experience. The rules are fairly simple, as least compared to most of the tax code. Yet, there’s a lot of misinformation floating around. One problem seems to be that many people
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 Key Findings There are over 11,000 sales tax jurisdictions in the United States, with widely varying rates. Among major cities, Chicago, Illinois and Long Beach and Glendale, California impose the highest combined state and local sales tax rates, at 10.25 percent. Three cities follow with combined rates of 10 percent or higher: Tacoma (10.2 percent)
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HSA (Health Savings Accounts) can be a tax-efficient way to save for future health care expenditures Getty Health Savings Accounts (HSAs) might be the single most powerful tax-advantaged savings vehicle in the IRS tax code. You can deduct contributions, experience tax-deferred gains and withdraw money tax free for qualified tax expenditures. It’s essentially a no-tax
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Taxpayer defined; W-4 2.0; cryptocurrency and FBAR; and other highlights from our favorite tax bloggers. Unresolved issues IRS Mind (https://www.irsmind.com/): In 2018, the IRS questioned the accuracy of about 6 million returns, most often using a CP2000 — under-reporter — matching notice. About 3 million CP2000 notices were sent in 2018. In second place is
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Alan Greenspan Anjali Sundaram | CNBC Former Federal Reserve Chairman Alan Greenspan said nothing is stopping the U.S. from getting sucked into the global trend of negative yielding debt, Bloomberg reported Tuesday. “There is international arbitrage going on in the bond market that is helping drive long-term Treasury yields lower,” Greenspan said in a phone
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The recent feud between President Trump and Representative Elijah Cummings (D-MD) over conditions in Baltimore may have one benefit: it lets us reopen a debate over how the federal government should best assist America’s cities. Federal aid to cities has declined dramatically since President Johnson’s 1960s war on poverty that nearly tripled federal grants to
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The Association of International Certified Professional Accountants and the Management Accounting Section of the American Accounting Association have recognized two professors for their contributions to management accounting research. Adam Presslee uwaterloo.ca Adam Presslee, assistant professor of accounting at the School of Accounting and Finance at the University of Waterloo in Ontario, Canada, and Laura Wang,
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