Congress & CourtsPosted byNewsweek
Republican Senator Susan Collins of Maine spoke about funding for a bipartisan infrastructure deal, including proposed fees for electric vehicle owners for acting as "free riders" by not paying a gas tax. "There would be a provision for electric vehicles to pay their fair share of using our roads and...
The following is a transcript of an interview with Secretary of State Antony Blinken that aired Sunday, June 13, 2021, on "Face the Nation." JOHN DICKERSON: We begin this morning with Secretary of State Anthony Blinken, who is in Brussels. Good morning, Mr. Secretary. SECRETARY OF STATE ANTONY BLINKEN: JOHN,...
POTUSPosted byThe Associated Press
FALMOUTH, England (AP) — The Group of Seven wealthy democracies have wrapped up their first face-to-face summit in two years at a seaside resort in southwest England. The leaders of the G-7 — Canada, France, Germany, Italy, Japan, the United Kingdom and the United States — made commitments on a range of topics, from sharing coronavirus vaccines to tackling climate change and making corporate taxation fairer.
Someone’s telling a story here, and it’s either those that have found out that ViacomCBS has been avoiding paying their share of taxes for years or ViacomCBS itself. The thing is that ViacomCBS almost sounds as though they’ve been put on the defensive, which isn’t entirely inactive of guilt, but is curious since if there’s nothing to hide then it should be fairly easy to make quick work of such a rumor. But the idea that the company, which is the parent company for Paramount, which also has franchises such as Spongebob Squarepants and the Transformers under their collective belt, is shuffling their profits around from place to place to avoid paying taxes, makes it easy to lose faith in them as they continue to deny what’s going on. This is what was said in a report about the issue of tax shelters that ViacomCBS has been using, as per MovieWeb:
EconomyPosted byThe Independent
Four years on from the Grenfell Tower tragedy, hundreds of thousands of residents in worthless, unsafe flats are dealing with the crushing emotional and financial burden of a building safety crisis that threatens many with losing their homes and bankruptcy.The government has so far failed to even recognise the scale of the problems, let alone devise a credible plan to fix them, leaving residents feeling helpless and abandoned.Ralph Glenc, 43, describes his situation as a “nightmare that never ends”. He is stuck in a flat in Kennington Park Square, southeast London, unable to sell his home due to serious...
POTUSPosted byThe New York Times
President Joe Biden talks with French President Emmanuel Macron during the final session at the G-7 summit in Carbis Bay, England on Sunday, June 13, 2021. (Doug Mills/The New York Times)
Personal FinanceThe Hollywood Gossip
You won't believe this, but Kody Brown appears to once again have made a poor financial decision. Yeah. We shouldd have figured you would at this point. According to The Sun, the Sister Wives lead owes $1,058.31 in property taxes on the Arizona home he shares with fourth wife Robyn, which is one of two houses he owns in the state.
THE Department of Finance on Friday announced that the first batch of $3.4 million in regular tax refunds to 4,600 taxpayers were to be distributed this past weekend. Over $80,000 of these funds were direct deposits. Secretary of Finance David DLG Atalig said filers who filed on time and are...
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Home & Gardenhomesandgardens.com
Whether you’re looking for a new home or trying to find a chic Airbnb for a summer getaway, drive a few hours north up the Atlantic coast and by the time you’ve reached New England a familiar shape of home will start to line the streets of suburbia. Saltbox homes...
Income TaxWashington Post
In her June 10 Thursday Opinion essay, “Taxes that soak billionaires could be fair — but harmful,” Megan McArdle seemed to suggest that paying taxes on unrealized capital gains is the principal — or only — way to achieve a fairer tax base and criticized that straw-man suggestion. Please. For starters, why should individual tax rates reach 37 percent but capital gains be taxed at only up to 20 percent? Why should hedge fund managers’ income be “carried” so that they can be taxed as if they were capital gains? Why should inherited assets — such as stocks — be “stepped up” so that their original cost basis is recalculated and previous growth ignored? Why should the corporate tax rate be set at 21 percent, which will yield only about 1 percent of gross domestic product, roughly half of what was garnered 10 years ago?
Income TaxNew York Post
ProPublica obtained the tax returns of the richest Americans and discovered what every informed person already knew: They don’t pay as much in income taxes as some people would like them to. This is being called a great scandal by many Democrats and liberal journalists. Meanwhile, that these returns were...
It all started in 2013, at the end of a dirt track in a rural section of New York’s Hudson Valley where a humble white farmhouse stands among a few colonial-red barns. Old Mud Creek Farm, as it’s called, had been put up for sale by the agrochemical giant Syngenta, which had used the 386-acre property for years to test products—fertilizers, pesticides, herbicides—on corn and soy crops. Nothing remarkable, just another tract of heavily used industrial farmland in a region where people have been rushing to get out of the industrial farming business.
Impact of Depreciable Life Accounting Method Change on Adjusted Taxable Income for §163(j) Outlined by IRS
In Chief Counsel Advice 202123007 the IRS determined the impact of an IRC §481(a) adjustment related to depreciation on the calculation of adjusted taxable income (ATI) for purposes of the interest deduction limitation under IRC §163(j). The advice deals with the following issue:. To determine the amount allowed as a...
Income TaxPosted byMarkets Insider
The investor lives modestly, doesn't use popular tax loopholes, supports higher taxes on the wealthy, and is giving away virtually all of his money.
After debating the issue for over eight years, the secretary-general of the Organization for Economic Cooperation and Development (OECD), Mathias Cormann, welcomed a historic international agreement by G-7 finance ministers from the United States, Japan, the United Kingdom, Germany, France, Italy and Canada on key elements of global tax reform designed to address the tax challenges related to the digitalization and the globalization of the economy amid the world economy digitizing at a fast pace with the occurrence of the COVID-19 pandemic.
Beverly Hills, CAmsn.com
TV personality Frank Luntz attends HBO's Official Golden Globe Awards After Party at Circa 55 Restaurant on January 8, 2017 in Beverly Hills, California. FilmMagic/FilmMagic for HBO. In a 2019 memorandum obtained by Salon, longtime Republican pollster and strategist Frank Luntz reported that "public sentiment about the wealthy has been...
The federation boss calls on the government to find other avenues of taxing the betting firms to avoid chasing sponsors away. The Football Kenya Federation has pleaded with the government to stop the reintroduction of the 20% excise tax bill on betting stakes. Initially, the bill was dropped after key...
President Joe Biden's proposed tax law changes are "skewed heavily" in favor of parents, a new analysis from the Urban Institute's Tax Policy Center (TPC) finds. The report finds that all low-income households earning $26,000 or less would see their tax bill drop by about $620, on average, in 2022. But families with children would benefit even more from proposed tax credits and changes, paying an average of $3,200 less.