FIFTEEN PERCENT GLOBAL TAX
Fifteen percent global tax. The Biden administration is proposing a global minimum tax of at least 15% as it looks to level the playing field and stop what Treasury Secretary Janet Yellen has called the “race to the bottom”. However, the Treasury Department said that 15% is just the starting point and they will push […]
IRS JUST ABOUT CAUGHT UP
IRS just about caught up. When COVID-19 first hit back in January of 2020, the IRS like many government agencies, shut down. They were closed for nearly five and a half months. When they came back to life, like many other organizations, they had to reshuffle and many IRS workers were working from home. That’s […]
DETAILS OF TAXING THE RICH
Details of taxing the rich. During his Presidential campaign President Biden stated he would make Social Spending a priority again and pay for it by taxing individuals with income greater than $400,000 a year and on Corporate America. But his proposal is also aimed at targeting wealthy tax cheats who are gaming the system. Putting […]
OVER A MILLION PAYMENTS MADE
Over a million payments made. The Internal Revenue Service stated that under the American Rescue Plan, over one million payments have been made, for a total of nearly 164 million payments. This was due to the Covid-19 pandemic and the economic fallout from a massive health crisis that started in January of 2020. In the […]
RICH NOT POOR NATIONS BENEFIT
Rich not poor nations benefit. Many of the International Tax Agreements that are made never make headlines across the world. With politics, wars, and Covid vying for the public’s attention, the impact of certain tax agreements seem trivial to many world citizens. Yet the impact to poor nations on these agreements can hurt their economic […]
