Taxes

Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about whether the 2015 changes in the Social Security law actually ended spousal benefits for everyone, suspending a retirement benefit after it converts from a disability benefit and whether delaying makes sense with significant assets. Larry Kotlikoff is a Professor of Economics at Boston University
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Damon Rowe, the Director of the Office of Fraud Enforcement at the Internal Revenue Service announced yesterday at a Federal Bar Association presentation on fraud enforcement priorities that the office has “added some crown jewels,” including a dedicated team of IRS Criminal Investigation professionals who are working on “Operation Hidden Treasure.” Operation Hidden Treasure is
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American flag pair and 2020 on a chess board. Horizontal composition with copy space and selective … [+] focus. 2020 presidential elections concept. getty During the 2020 election campaign, President Biden made a number of promises involving changes to the tax code, including expanding the 12.4% Social Security Tax; increasing the top marginal income tax
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New Tax Things To Know This Year by Nicole Lapin getty There have been a lot of personal changes the past year because of the pandemic. Some of us have moved states and taken on more freelance work. People have had gaps in employment. This all affects what happens with how you file your taxes.
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Senator Elizabeth Warren, along with Senator Bernie Sanders, just unveiled her latest version of a wealth tax. The idea has superficial appeal—the rich can easily afford a tax of 2%-3% a year on their wealth! But, as this segment of What’s Ahead explains, the Warren wealth tax would end up harming just about everyone, except,
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Chess, Globe – Man Made Object, Strategy, Earth, Global Business getty [Editor’s Note: This article originally appeared in the February 1, 2021, issue of Tax Notes International.] There are two ways to lose a chess match. Under the preferred approach, the player resigns with dignity upon realizing that defeat is inevitable. Checkmate is lurking a few moves
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On its face, eligibility for claiming the Employee Retention Credit (“ERC”) seems straightforward – I had to shutdown my business due to a government order so I can claim an ERC. We have all learned over the last few weeks that the devil is in the detail. Essential businesses have an additional hurdle to jump through if
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Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about whether taking Social Security survivor’s benefits now would reduce retirement benefits taken as late as 70, whether and when Social Security recalculates benefits based on income and retirement benefits before divorced spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and
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Time is running out to pass Covid-19 relief legislation to extend unemployment benefits and provide … [+] other needed aid. getty Even as they digest the bad news that a simple minimum wage increase can’t be included in President Biden’s $1.9 trillion relief package, Congressional Democrats are moving rapidly to pass the overall legislation.  They are doing the
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