This week, Treasury Secretary Steven Mnuchin endorsed the idea of a global minimum tax following meetings with French Finance Minister Bruno Le Maire in Paris. Secretary Mnuchin was quoted as saying, “We think it’s very important, the concept of minimum taxes, and that there isn’t a chase to the bottom on taxation.” These comments are
Elon Musk isn’t being held accountable for his “mistruths,” and the Tesla CEO should list his company’s shares in Germany, where regulations are loose, short-seller and Musk critic Carson Block contended Friday. “There is a global war against truth,” the CIO of Muddy Waters told CNBC’s “Closing Bell.” “There are millions of people, presumably, that
Before Elizabeth Warren’s wealth tax, there was Donald Trump’s wealth tax. It was 1999, and he was trying to get the Reform Party to run him as their presidential candidate for the 2000 campaign. Although Trump conducted a media blitz to get the wealth tax idea on the front pages, nobody could figure how it
If you’re able to work remotely, or have been itching to move elsewhere, it makes sense to consider locations where your money will go far. Or further than other places. When you account for inflation, the median household income in the United States has barely budged over the last 20 years. Today it stands at
Yesterday, Senate Finance Chairman Chuck Grassley (R-IA) and Senator Ron Wyden (D-OR) introduced a bill that would extend 29 currently expired tax incentives for 2018 and 2019. Extending temporary tax provisions is not good tax policy, and it’s an especially bad idea to do so retroactively and in the middle of the tax filing season.
Washington State may soon approve the nation’s first publicly-funded long-term care insurance program. The measure, called the Long-Term Care Trust Act, would provide a maximum benefit of $36,500 for people who need assistance with at least three activities of daily living (ADLs) such as bathing, toileting, transferring, dressing, or eating. It would be funded with
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column responds to questions about restricted applications, the availability of spousal benefits after remarriage, divorced spousal benefit eligibility, retirement benefits when widow’s benefits are also available and spousal benefits after filing
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
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