INCREASED TAX REVENUE CLAIMED

Increased tax revenue claimed. The economy has been in the toilet for some time, and with Covid still around, added to the fact that the war in Ukraine has cast a shadow over economic conditions, along with supply chain issues, you would think the coffers at the Treasury Department would be scarce, but the opposite […]

TAKING SOCIAL SECURITY IN THE PANDEMIC

Taking Social Security in the pandemic. The trend has been moving in a positive direction: Over the last decade, far more workers who are eligible for Social Security have been waiting to file, often substantially increasing their lifetime annual benefits. But the stunning job losses in the pandemic induced economic crisis could bring this trend […]

IRS DETAILS ON FOREIGN EARNINGS

IRS details on foreign earnings. The Internal Revenue Service provided additional information to help taxpayers meet their filing and payment requirements for the Section 965 transition tax on untaxed foreign earnings. The Tax Cuts and Jobs Act requires certain taxpayers that have untaxed foreign earnings and profits to pay a tax as if those earnings […]