ILLINOIS Ostrow Reisin Berk & Abrams, Chicago, announced new hires: Hesham Alkhulaqi and Matthew Temple as staff accountants, and Sarah Zambrano as a tax preparer, in the tax group; Steve Helm as a staff accountant in the audit group; and Charles Jakes, Jr., as an accounting clerk in the accounting department. KENTUCKY David Douglas was
More than 140 countries worldwide – including all European countries – levy a Value-Added Tax (VAT) on purchases for consumption. As today’s tax map shows, although harmonized to some extent by the European Union (EU), Europe’s VAT rates vary moderately across countries. The VAT is a consumption tax assessed on the value added to goods
Bristol-Myers Squibb has been meeting with shareholders in Boston and New York over the last two weeks to try to salvage its $74 billion purchase of cancer drugmaker Celgene, the biggest acquisition announced so far this year. The deal, announced in January, was hard sell to Bristol shareholders from the start. The acquisition adds about
Underfoot and underhanded; hysterical hysterectomy; no way to get a head; and other highlights of recent tax cases. Orlando, Fla.: A federal court has permanently barred Ndaiziwei Kaya Chipungu and Society Financial Solutions from preparing federal tax returns for others and from owning or operating a tax prep business. The government alleged that the defendants
Close to a month into tax season, tax refunds are starting to increase. The average check is now $3,143 for the week ending Feb. 22, according to the IRS. That’s just about on par with last year’s figures, reflecting a rise of 1.3 percent year over year. The increase in refund amounts is a change
ASSOCIATED PRESS Indonesia joined Vietnam recently to challenge Duterte’s doctrine in the South China Sea. That’s the notion that any Asian-Pacific country that dares to tame Beijing’s ambitions to control the entire South China Sea will face war with China. This week, Indonesia drew a “red line” in the South China Sea establishing fishing rights
Getty Imagine this: Your ex-spouse insists on claiming your child as a dependent without your consent. What do you do? A Princeville, Illinois, mom responded to this tax “emergency” by calling the police. According to the Journal Star, on February 6, the woman called the Peoria County Sheriff’s Office to report “possible tax fraud.” The
The IRS will waive the estimated tax penalty for any qualifying farmer or fisherman who files a 2018 federal income tax return and pays any tax due by Monday, April 15. The deadline is Wednesday, April 17, for taxpayers in Maine and Massachusetts. The IRS is providing this relief because, due to certain rule changes,
Lawmakers have recently begun proposing different policy options that would change the U.S. tax system—ranging from wealth taxes to higher marginal income tax rates to increasing the estate tax. When discussing changes like these, it’s important to understand the composition of taxes under the current system. Using data from the Office of Management and Budget,
One stock has fell short of chipmakers’ big comeback. Nvidia remains nearly 50 percent below its 52-week high set back in October, while the SMH semiconductor ETF is around 10 percent from sealing its own new record. Todd Gordon, founder of TradingAnalysis.com, sees a bigger break lower for the semis stock. “You can see that
New Jersey’s average property tax bill hit $8,767 last year, a record for a high-cost state whose residents were stung by President Donald Trump’s cap on deductions for state and local taxes. The cost marked a 20 percent increase from 2009. But for New Jerseyans who historically have named local property taxes as their biggest
If you’re getting close to celebrating your 65th birthday, it’s time to review how Medicare will fit into your life. Whether you’re still working or not, it’s best to make sure you understand the rules for signing up instead of making assumptions that could cost you down the road. “If you don’t enroll and don’t
A Florida-based biotech and regenerative medicine company is progressing with clinical research studying the safety and efficacy of stem cell treatments for aging-related diseases. Longeveron is currently recruiting for an Alzheimer’s stem cell clinical trial, as well as one study examining stem cells to boost flu vaccine immune response in older patients and another expanding its work on
The IRS has very broad powers to acquire documents and other records to determine a tax liability and for other tax administration reasons; for example, section 7602 provides that, for the purpose of determining the correctness of any return, the Secretary may “examine any books, papers, records, or other data which may be relevant to
Tax refunds in the U.S. jumped 17 percent week over week, Treasury Secretary Steven Mnuchin said. Mnuchin didn’t provide further data or clarify which week he was speaking about, though IRS figures announced last Friday showed a 17 percent drop in the amount of the average tax refund during the week ended Feb. 15 versus
General Electric CEO Larry Culp has simplified the company’s report techniques and could be on the right path to fix the challenges in its power division, CNBC’s Jim Cramer said Wednesday. Culp, who became chief of GE in September, delivered his first annual letter to shareholders on Tuesday that Cramer said made a significant departure
The Treasury Department so far isn’t agreeing with requests from congressional Democrats and the American Institute of CPAs to go further in eliminating tax penalties for taxpayers who didn’t withhold enough taxes last year after passage of the Tax Cuts and Jobs Act. Last month, the IRS announced that it would generally waive the tax
President Donald Trump’s financial statements are here — and they likely only tell part of the story on his wealth. Michael Cohen, the president’s former personal attorney, testified before the House Oversight Committee on Wednesday, and provided the committee with a number of documents, among which he said were copies of Trump’s financial statements for
GE stock is up more than 50% in the last 2 months. Copyright 2018 The Associated Press. All rights reserved. General Electric (GE) is up more than 50% since hitting a low of $7.03 in mid-December. Since this was not a very likely scenario, GE’s pensioners, many of whom have sizeable stockholdings, now have to
When you have stock compensation income, such as that from restricted stock or restricted stock units, tax returns can be complicated and tricky. Mistakes can lead to overpayment of taxes or unwanted attention from IRS auditors. Here are five mistakes to avoid on your federal tax return.Getty Tax returns get complex when you have various types
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