Articles
IRS adds tax forms and info in Spanish, other languages
The Internal Revenue Service posted a Spanish version of its Form
1040 and instructions Tuesday and made available publications and
online information in other languages. Read More.
In Switcheroo, IRS To Deliver Full Stimulus Payments To Those
With Federal Tax Debts
There’s welcome news for financially struggling taxpayers with
federal tax debts who didn’t get Round 1 and Round 2 economic
impact payments, and were instructed to file 2020 tax returns to
claim the payments as a recovery rebate credit. Read More.
Dow, S&P 500 look to add to record highs
DraftKings Inc. announced plans for a $1B convertible note
offering Read More.
IRS starts depositing third round of stimulus payments
The Internal Revenue Service said Friday that the third round of
Economic Impact Payments will begin hitting taxpayers’ bank
accounts as early as this weekend. Read More.
Report: Joe Biden Plans First Major Tax Hike in a Generation
President Joe Biden is considering a tax hike to underwrite the
economic program launched by the approval of his $1.9 trillion
pandemic stimulus package, a Monday report by Bloomberg claims. Read More.
Federal Stimulus Bill Has Huge Tax Change For Gig Workers
Tucked inside the American Rescue Act is a tax change that has
big implications for tax revenue and the gig economy. Read More.
The Grassroots Corner March 15, 2021
🇺🇸 The Grassroots Corner - Week Beginning 3/15/21: “Bring Our Old
Cosponsors Back” Read More.
The Chairman’s Report March 12, 2021
The FAIRtax is a non-partisan issue. Because of the benefits to
lower income citizens and the economic growth it will bring, it
is legislation that both parties—if they were really interested
in their constituencies and not their own power, would endorse. Read More.
Operation Hidden Treasure Is Here. If You Have Unreported Crypto,
Get Legal Advice
Damon Rowe, the Director of the Office of Fraud Enforcement at
the Internal Revenue Service announced yesterday at a Federal Bar
Association presentation on fraud enforcement priorities that the
office has “added some crown jewels,” including a dedicated team
of IRS Criminal Investigation professionals who are working on
“Operation Hidden Treasure.” Read More.
Businesses concerned about W.Va. income tax reform as lawmakers
begin work
CHARLESTON, W.Va. (WSAZ) - Lawmakers started working Tuesday
morning on West Virginia Gov. Jim Justice’s proposal to eliminate
the state personal income tax. Read More.
The IRS ‘Roboaudit’—An Abuse of Authority
The IRS is increasingly relying on correspondence audits to audit
small businesses. Read More.
Day 15 Of Tax Filing Season: 28 Million Tax Refunds, $3,021 On
Average
Given the number of days the Internal Revenue Service has been
open for processing 2020 tax returns, the number of returns
taxpayers have filed is up 14% compared to last year. That’s the
rosy way to look at the numbers. Read More.
How much do Baltimore taxpayers spend per student?
The total budget for Baltimore’s public school system is $1.2
billion Read More.
What Tax Pros Should Know About Gift Tax Exclusion
The general political context is one of extraordinary government
expenditures in the wake of COVID-19, which suggests higher
taxes, particularly upon the wealthy. In 2021, taxpayers
generally need to be more concerned with transfer tax issues. Read More.
United Arab Emirates attracts corporate billions to climb
tax-haven ranking
FRANKFURT (Reuters) - The United Arab Emirates, a magnet for the
globe’s ultra-rich, has also emerged as one of the
fastest-growing corporate tax havens, according to a study
released on Tuesday that highlighted $200 billion-plus flowing
into the country. Read More.
