The deadline for filing tax returns is May 17th. If you haven't already, don't panic, even if you are short on time. Better consider extending the term. How exactly, said the publication USA Today. The IRS does not care about the reason ...
A study published in March found that individuals in the 1% of Americans with the highest income underestimate their income by at least 20% each year in IRS reports. The Voice of America writes about it. The study used data from the National Bureau of Economic ...
President Joe Biden is planning the first major federal tax hike since 1993 to help pay for a long-term economic program designed as a follow-up to his pandemic bill, according to people familiar with the matter. Bloomberg reports. Unlike…
While unemployment benefits are considered income and are taxable, the recently signed $ 1,9 trillion bailout plan will not be subject to federal income tax on the first $ 10 in unemployment benefits received by a person in 200. The Market edition told in more detail ...
Democrats have poured three tax hikes for large corporations into a COVID-19 relief package. Together, this increase is about $ 60 billion. Politico writes about it. The first proposal raises taxes for companies that pay more than $ 1 million to executives. Other ...
On Saturday, March 6, the Senate voted to pass the $ 1,9 trillion American Rescue Plan Act, which includes provisions increasing the child tax credit to $ 3000 per child ages 6-17 and $ 3600 ...
The Internal Revenue Service (IRS) still has not processed millions of tax returns for 2019, writes Yahoo. The COVID-19 pandemic turned the tax season upside down last year, and even now, millions of people are still grappling with the consequences. In mid-February, the Tax ...
The arrival of a new presidential administration often leads to changes in the tax code, and the Biden administration will be no exception. In addition to changes in tax categories, there will be many other changes for both individuals and companies, writes Yahoo. The Biden administration seems intent on ...
The COVD-19 pandemic forced millions of American workers to quickly switch to work from home (WFH) mode, but not all of them had an office in their home or apartment. Therefore, many people bought new chairs, tables and other office equipment from their pockets, ...
The unprecedented events of 2020 have changed life as much as we knew it. And many of the changes and shocks of the past year have brought about changes in your tax returns. Due to the COVID-19 crisis, there are many new and revised regulations and important dates, about ...