Amid one of the worst public-health crises in history, a record number of Americans are without health insurance. John Fedele Amid historic levels of unemployment, as many as 12 million Americans may have lost their health insurance since February, according to a study by the Economic Policy Institute. “Because most U.S. workers rely on their
Month: August 2020
The Internal Revenue Service said Friday it would temporarily allow the use of digital e-signatures on some forms that can’t be filed electronically to reduce the risk to taxpayers and tax professionals of in-person contact during the novel coronavirus pandemic. The move will allow tax preparers to stay safe during the pandemic by continuing to
If you buy something through our links, we may earn money from our affiliate partners. Learn more. Most business owners perform many of the same functions on their computers over and over, day after day. Wouldn’t it be nice if there was a quicker and easier way to complete these repetitive tasks? Instead of browsing
People are going to have a lot of memories of the pandemic — but even as the Internal Revenue Service emerges from its COVID-19-imposed slowdown, tax preparers and taxpayers will likely list “frustration” as one of the biggest. “Payments aren’t getting applied timely and properly. Erroneous notices are getting issued. They still need to be
High-tax countries create an incentive for companies to finance investments with debt because interest payments are tax-deductible, which is usually not the case for equity costs. This encourages global businesses to lend money internally from entities in low-tax countries to entities in high-tax countries. Tax savings in high-tax countries can exceed the increased tax paid
The New York Stock Exchange has won the approval from regulators to allow companies to issue new shares through direct listings, creating a cheaper alternative to the traditional initial public offering. The Securities and Exchange Commission said in an order Wednesday evening that it approved a new type of direct listing where companies can simultaneously
In a major policy pivot, the Federal Reserve said it will allow inflation to run “hotter than normal” to help the economy bounce back from the coronavirus crisis. That means the Fed will be less inclined to hike interest rates, letting borrowers benefit from cheap money for an extended period of time. “This kind of
When I founded FloQast, I started meeting fellow software entrepreneurs. As I got to know them I realized there is a common thread across the group — they have one of two backgrounds: Product or business development. Software engineers are able to hack together great products for sweat equity, get adoption, and then have VC’s
Manhattan District Attorney Cyrus Vance Jr. agreed to delay enforcement of a subpoena for President Donald Trump’s tax and financial records until after a federal appeals court decides whether or not to put the request on ice for even longer. U.S. District Judge Victor Marrero last week rejected Trump’s claims that the subpoena to his
Russia has recently charted a course to increase withholding taxes on cross-border payments by renegotiating tax treaties with several of its partners. It is an example of how the willingness to forgo tax revenue may not be stable over time. Cross-border taxation is a complicated area of tax policy. When a business has its headquarters
CNBC’s Jim Cramer on Thursday praised the Federal Reserve and its chairman, Jerome Powell, for updating their approach to monetary policy to help the U.S. economy recover from the coronavirus pandemic. “Powell is on the side of the bulls,” Cramer said on “Squawk on the Street.” The Fed earlier Thursday said it would be willing to
Philadelphia residents rallied at City Hall to demand Congress return and come to a deal on unemployment and other key features of the HEROES Act. Cory Clark/NurPhoto via Getty Images At least five states have begun paying out a federal boost to weekly unemployment benefits. Others have signaled they’ll do so within days. Arizona, Louisiana,
Grant Thornton has announced an expansion of the firm’s diversity and inclusion efforts with the implementation of new training programs and monetary donations to social-justice organizations. Grant Thornton developed its efforts with members of its African Americans and Allies Business Resource Group — an internal group that promotes the recruitment, development and retention of Black
Millennial owners are enormously passionate about their businesses, but they can struggle with the kinds of skills that accountants excel at, such as keeping an eye on costs, crunching sales figures, managing cash flow and developing short-term and long-term plans. August 27, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. As
Wish you were here; refunds and interest; California and gig drivers; and other highlights from our favorite tax bloggers. Find the fraud Word up Sikich (https://www.sikich.com/insights/): Funny how much critical IT security, even after years, still comes down to what the average employee considers a vaguely memorable catchphrase. The latest on smart use of passwords.
High-net-worth individuals are being identified by tax policymakers these days in various ways. While Portugal recently approved a 10 percent tax on foreign pension income, putting an end to the tax-free regime for foreigners approved during the financial crisis, Greece is looking into attracting foreigners with tax reductions. In order to transfer their tax residency
Tenants of the Woodner apartment building in Washington, D.C., protest to demand their rent be forgiven during the Covid-19 pandemic. NICHOLAS KAMM/AFP via Getty Images Unemployed workers living in most U.S. cities can’t cover basic living expenses with jobless benefits alone. In fact, Americans living in just 12 out of 109 metro areas could afford
Among Democratic presidential nominee Joe Biden’s many tax proposals, one that has gotten less attention would modify how traditional retirement accounts are treated in the tax code. This proposal would shift some of the benefits of tax deferral in traditional retirement accounts toward lower- and middle-income earners with the goal of encouraging additional saving by
The Securities and Exchange Commission adopted rules Wednesday to reduce the number of disclosures of business, legal proceedings and other risk factors, including environmental and human capital risks, that public companies are required to make, in probably the biggest overhaul of Regulation S-K disclosures in more than three decades. The move is part of the
The U.S. Treasury Department still has yet to tell companies how to handle President Donald Trump’s order delaying the due date for employee payroll taxes, leaving major employers like Walmart Inc. in the lurch. It’s been two weeks since Trump issued his directive deferring the deadline to pay worker’s portions of Social Security taxes from
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