IRS PREPARING TO BARCODE TAX RETURNS

IRS preparing to barcode tax returns. Due to the backlog of unfiled tax returns, which is a byproduct of not just the Covid lockdown at the IRS, but the fact the agency has not been given enough funding the last few years, which is now being reversed by President Biden. The National Taxpayer Advocate who […]

STIMULUS PAYMENT PROBLEMS PART THREE

Stimulus payment problems part three. Doug McKirahan, a 64 year old San Franciscan, told TIME he struggled to input his information into the IRS Get My Payment tool before finally succeeding last week. But McKirahan said what’s most frustrating is his inability to contact the agency directly. The IRS said it’s currently unable to provide […]

DIGITAL TAX WILL BOOST STATES REVENUES

Digital tax will boost states revenues. The OECD has presented economic analysis on the potential impact of what it has proposed on international tax reform to address the digitalization of the economy. The OECD has said that the changes would have a significant positive impact on global tax revenues, by boosting corporate income tax revenues […]

RETIREMENT BILLS AND TAXES

Retirement bills and taxes.  Lawmakers are working on the biggest changes to U.S. retirement savings in more than a decade, exploring several proposals that could make it easier for small companies to offer 401(k) plans and for workers to guarantee themselves an annual income after they retire. The efforts are being kick started with a […]