The second week of tax season has wrapped up, and refunds are still smaller compared to last year. Since the IRS began accepting returns on Jan. 28, the agency has managed to process 26.9 million individual income tax returns as of Feb. 8, according to data from the tax authority. Uncle Sam is also sending
The Amazon.com Inc. executives looked battered after more than an hour of questioning last week about their plans to build an office in New York. City Council members thrashed the retailer for its resistance to unions, working conditions at warehouses and its founder’s wealth. The responses drew laughter from the balcony. So when Jimmy Van
Student loan borrowers would have their monthly bills automatically deducted from their paychecks if a Republican-backed proposal becomes law. Sen. Lamar Alexander, R-Tenn, chairman of the Senate Health, Education, Labor and Pensions Committee, laid out the details of the massive overhaul to the student loan system in a speech earlier this month. The changes could
Source: Stock.Adobe.com The index is “concentrating” … should you leave it alone? I must admit, with all that I write about the S&P 500 Index, it looks weird to see it without the last zero, as it is in the title of this article. But that is not as weird as the sustained predicament
What would happen if you wrote to the IRS, by way of an amended return say, and asked for all the money back that you have paid in the last couple of years? Frankly, they just might send it to you and there is a chance. possibly a good chance, that that would be that.
The National Society of Accountants Scholarship Foundation is accepting applications for its 2019-2020 academic scholarships. The NSA Scholarship Foundation is looking to provide financial aid to tax and accounting students. Scholarships are awarded to undergraduate students currently enrolled in a two- or four-year college or university, with applicants judged on factors such as academic achievement,
With all of the investors fretting about the trade war with China and the Federal Reserve’s plans for interest rates, what CNBC’s Jim Cramer is really worried about here is jeans. “Yep, I think the biggest threat to this bull market is denim,” he said Wednesday on “Mad Money” as stocks rose on hopes of
The U.S. government would be in “uncharted territory” if Treasury Secretary Steven Mnuchin were to block a House request to release President Donald Trump’s tax returns, a law professor told a congressional panel on Thursday. The Democrats who now control the House Ways and Means Committee are eager to get their hands on the returns
As you’re scouting your dream retirement locale abroad, don’t forget to ask about those senior discounts. Retiree discount programs are available, for example, in a number of Central and South American countries. These programs offer senior citizens a range of perks, including affordable health care, reduced costs on travel and lower taxes. There’s a catch
In a recent survey, Legg Mason found that a 32% of Americans are “very confident” that they will have enough money for a comfortable retirement. That same study finds that retirement confidence falls sharply as Americans approach retirement and really understand just how expensive it is to retire – that is, exactly how much money
This could be a good year to convert a traditional IRA to a Roth IRA, and you can make it an even better opportunity by following the markets. The IRA conversion issue isn’t a one-time decision. You should revisit the issue regularly. Whether or not a conversion is a good deal for you depends on
While most accountants are familiar with Code Section 1202 and its exclusion for gain of qualified small-business stock, or QSBS, it has in recent years been neglected despite its potential benefits to small-business founders and venture capital and private equity investors. But with the increase in the exclusion amount and the lower corporate tax rate,
Executive Summary Wisconsin has struggled with its tax system for decades. The state has always been marked by high property tax burdens, but in its effort to “fix” them has leaned on corporate and individual income taxes to a sizable degree as well. Wisconsinites are often flummoxed by why taxes are so high here—government services
Florida Sen. Marco Rubio lashed out again Wednesday against Wall Street, vowing to present a bill “soon” that will try to push companies to stop spending so much of their cash on share buybacks. In a tweetstorm that began in late-morning, the former Republican presidential candidate ripped into the culture of shareholder and executive enrichment
The Organization for Economic Cooperation and Development is making progress on dealing with the tax challenges of the digital economy with a goal of arriving at a new consensus-based long-term solution in 2020. The OECD announced last week that the countries and jurisdictions participating in the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting,
If you’re trying to rush your tax return in to the IRS, be sure you don’t forget to take an inventory of these last-minute tax breaks. This season marks the first time taxpayers will submit their returns under the new Tax Cuts and Jobs Act. The law overhauled the tax system, doubling standard deductions, eliminating
Senator Lamar Alexander, a Republican of Tennessee and chairman of the Senate Senate Health, Education, Labor and Pensions (HELP)Committee. Photo Credit: Andrew Harrer/Bloomberg© 2017 Bloomberg Finance LP Will your student loan payments be taken out of your paycheck? If one U.S. Senator has his way, the answer is yes. Here’s what you need to know.
Can you amend your taxes if you forgot something or made a mistake? Sure. Should you? It depends. You must file a tax return with the IRS each year if your income is over the requisite level. In fact, you can be prosecuted for failure to file (a misdemeanor) or for filing falsely (a felony). Ask
I joined Withum 14 years ago when it had 250 people. It’s now 1,100 strong. As Withum is growing, the needs of the firm continue to expand with newly created positions to ease the growth for the staff and provide better and more value-added services to clients. Some of the nontraditional positions for an accounting
Alibaba co-founder Joseph Tsai told CNBC on Tuesday that the “structural issue” of the United States’ trade gap with China will reverse itself as the Chinese ramp up imports. The trade deficit will shrink once the Chinese government begins purchasing $40 trillion worth of goods as promised over the next 15 years, he said. Even
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