A man walks through the debris on a street in the aftermath of Hurricane Ian in Punta Gorda, Florida. Ricardo Arduengo | Afp | Getty Images If you’re far from the destruction caused by Hurricane Ian in Florida, you may be thanking your lucky stars that your home wasn’t in the storm’s path. Nevertheless, you also may want to consider […]
No more flying Coach; under the bar; last scheme in Clarksville; and other highlights of recent tax cases. Springfield, Missouri: Carrie Leigh Long, of Ash Grove, Missouri, has been sentenced to 41 months in prison for a wire fraud in which she embezzled more than $362,000 from her employer and failed to pay nearly $1 million in business payroll taxes […]
If you buy something through our links, we may earn money from our affiliate partners. Learn more. Coffee pods have simplified the process of making specialty brews so anyone can make them without having to go to a barista. With so many assorted flavors readily available coffee pod machines are quickly replacing or becoming a welcomed addition to traditional drip […]
A graduate who calls himself “April Vendetta” protests student debt in New York’s Washington Square Park on May 19, 2021, after New York University’s virtual commencement ceremony. Timothy A. Clary | AFP | Getty Images Federal student loan borrowers whose loans are not held by the U.S. Department of Education will no longer be able to consolidate in order to […]
Inflation operates much like a tax, a particularly egregious one that disproportionately falls on the poor and leads to a variety of economic problems, including, as we’re seeing, higher interest rates, slow economic growth, and reduced incomes. With inflation still running high, it is worth exploring who bears the cost of the surge in prices over the past year and […]
Grant Thornton reported Thursday that its U.S. firm’s revenue for the fiscal year ending July 31, 2022 rose nearly 17% to reach a record of $2.3 billion. The accounting and auditing practice accounted for 33% of the total revenue, while tax made up 25% and advisory services contributed 42%. “Our FY 2022 revenues demonstrate how effectively we’re delivering against our […]
Dan Ivascyn, PIMCO, at CNBC’s Delivering Alpha, Sept. 28, 2022. Scott Mlyn | CNBC The U.S. is likely headed toward a recession but there’s a chance for the downturn to be comparatively mild due to strong underlying fundamentals, according to Pimco bond expert Dan Ivascyn. In remarks echoed by other speakers Wednesday at CNBC’s Delivering Alpha conference, Pimco’s chief investment […]
Shapecharge | E+ | Getty Images If you’re a higher-income Medicare beneficiary, you may be paying less in extra premium charges in 2023 than you were this year. So-called income-related adjustment amounts, or IRMAAs, which are based on your tax return from two years earlier, kick in next year at $97,000 for single tax filers and $194,000 for joint filers […]
Victims of storms and flooding that began on Sept. 15 in parts of Alaska now have until February to file various federal individual and business tax returns and make tax payments. The Internal Revenue Service is offering relief to any area designated for individual or public assistance by the Federal Emergency Management Agency. Individuals and households that reside or have […]
Italy’s legislative elections on 25 September resulted in the country’s first right-wing government since 2011. Giorgia Meloni, leader of the Brothers of Italy, will likely become Prime Minister and govern in a coalition with the League (led by Matteo Salvini) and Forza Italia (led by Silvio Berlusconi). On national tax policy, the coalition has been vague. This could be because […]
Lauren Taylor Wolfe, center, Roy Swan, left, and Shundrawn Thomas at CNBC’s Delivering Alpha, Sept. 8, 2022. Scott Mlyn | CNBC ESG and sustainable investing generally have come under fire recently, with critics pointing to a lack of transparency and differing definitions sparking confusion around what investors are actually buying. Adding to the confusion is the broad approach to ESG […]
JGI/Tom Grill The IRS skipped about $3.7 billion in advance child tax credit payments for 4.1 million eligible households, but sent more than $1.1 billion to 1.5 million filers who didn’t qualify in 2021, according to an audit released Tuesday by the Treasury Inspector General for Tax Administration. However, the agency accurately issued 98% of the aid, the report found, […]
The Massachusetts Society of CPAs announced the seven recipients of the 2022 Women to Watch Awards and will honor winners on Wednesday, October 25 at the MassCPAs’ Women’s Leadership Summit. In partnership with the Association of International CPAs Women’s Initiatives Executive Committee, a panel of judges selected seven female leaders based on their contributions to their firm, clients and community, as well as the […]
Leopatrizi | E+ | Getty Images As part of President Joe Biden’s historic student loan forgiveness plan, up to 8 million people could get automatic debt relief, according to the White House. Across the board, most people with federal student debt will be eligible for some forgiveness: up to $10,000 if they didn’t receive a Pell Grant, which is a type of […]
Paying a firm’s retirees; email, text and your clients; when the IRS says wrong; and other highlights from our favorite tax bloggers. Constantly evolving Gordon Law (https://gordonlawltd.com/blog/): What we know so far about the new 1099-DA (digital assets). AICPA Insights (https://www.aicpa.org/blog): A look at the “2022 Global State of Enterprise Risk Oversight,” which reports on the “ever-evolving” status of risk […]
If you buy something through our links, we may earn money from our affiliate partners. Learn more. Most of us know that working for hours on a computer screen takes its toll on your eyes. Having good lighting is essential to better productivity, mood, and overall health, and a good desk lamp can provide bright light while being energy efficient […]
wera Rodsawang | Moment | Getty Images Child poverty fell dramatically in 2021, thanks to an expansion put in place last year that sent monthly payments of up to $300 per child to millions of eligible families. Yet many individuals and families eligible for the child tax credit, as well as another called the earned income tax credit, may not […]
Electric vehicles (EVs), plug-in hybrid electric vehicles (PHEVs), and other clean-energy vehicles continue to gain popularity, especially as gas prices soar. Is it time for you to make the switch? If you’re new to the EV market, you no doubt have a lot of questions — topics like EV battery range, maintenance costs, and affordability among them. But have you […]
States once flush with revenue from surging sales tax collections are starting to see inflation-related declines, signaling state revenues may continue to drop. The number of states that saw year-over-year declines increased to 25 in June from 16 in May, according to the Urban Institute. That declining performance, which is analyzed over a three month rolling average, follows a strong […]
Steve Pfost | Newsday | Getty Images Amid higher interest rates and a softening housing market, home buyers are continuing to back out of purchase contracts at an elevated rate. About 64,000 home-purchase agreements were canceled in August, according to a new report from Redfin. That’s equal to 15.2% of home contracts initiated during the month and similar to the […]