CLIMATE CHANGE BIDEN SOLAR AND TARIFFS

Climate change Biden solar and tariffs. Auxin Solar, a U.S. Manufacturer of solar modules, field a complaint with the Commerce Department, which is responsible for enforcing the tariffs on solar, claiming that the solar manufacturers in Cambodia, Malaysia, Thailand and Vietnam are making an end around the tariffs on Chinese photovoltaic cells. Imports from those […]

WHEN AND HOW TO PAY ESTIMATED TAXES

When and how to pay estimated taxes. Payments are divided into four payment periods. Yet, some taxpayers may find it easier to pay their estimated taxes weekly, bi-weekly or even monthly. Alternative payment periods are allowed if enough tax is paid by the end of each payment quarter. The easiest way to make your estimated […]

SUPERFUND TAXPAYERS GRANTED PENALTY RELIEF

Superfund taxpayers granted penalty relief. The IRS provided temporary relief from a penalty for failure to deposit Superfund excise taxes and affirmed the availability of a safe harbor for deposits. The relief in Notice 2022-15 released friday applies to semimonthly deposits due in the third and fourth calendar quarters of 2022 and the first quarter […]

IRS FORGETS USING FACIAL RECOGNITION

IRS forgets using facial recognition. In the aftermath over the January 6th attack on the Capital, and the outcry over government intervention and intrusion into the lives of American citizens, the IRS has given up for now on the IRS facial recognition technology it was thinking of using. It seems other reasons also were voiced […]

WILL RICH SUPPORT BIDEN TAX INCREASE

Will rich support biden tax increase. President Joe Biden ran on a platform of raising taxes for anyone who earned dover $400,000 a year. And he was elected President of the United States of America, validated by dozens of court cases across the entire country. The shift in sentiment regarding taxing the rich is in […]

HOW MUCH MONEY CAN WE PRINT

How much money can we print. The Federal Reserve is creating dollars from scratch at an unprecedented rate, one of the man made tools to rescue the economy amid the coronavirus pandemic. In its frantic scramble to save the American economy, the central bank of the United States seems to have the ultimate superpower. It […]

TRUMP AND THE PAYROLL TAX CUT

Trump and the payroll tax cut, President Donald Trump’s blitz of executive orders includes a promise of tax relief for workers, but policy experts say the White House has left several critical questions unanswered, including who will be responsible for collecting the deferred tax and how and when it will need to be paid off […]

TRUST FUND PENALTY IS PENALTY NOT TAX

Trust fund penalty is penalty not tax. In our ongoing coverage of pertinent Tax Court cases, we cover David J. Chadwick v. Commissioner of Internal Revenue. The Tax Court has determined that a Trust Fund Recovery Penalty is a “Penalty” not a “Tax” as the IRS had argued. Thus, the TFRP is subject to the […]

REVIEW OF BUSINESS PASS THRU DEDUCTION

Review of business pass thru deduction. We encounter many self employed individuals who are not taking advantage of one of the biggest tax breaks in the Tax Cuts and Jobs Act, passed recently. That is the 20 percent pass thru deduction for LLC’s. We advise anyone who is thinking of doing this, to make sure […]

TRUMP’S TAX CUTS CHANGED ECONOMY

Trump’s tax cuts changed economy. Americans have been getting used to the new Tax Cuts and Jobs Act slowly but surely. Some if its effects are already visible, and some of them will take months, or even years, to  understand. After all, economists are still publishing studies about the effect of the last comprehensive tax […]