Taxes

Woman checking financial stock market analysis on smartphone in city, with illuminated city street … [+] light and urban skyscrapers as background at night Getty Allison Christians, the H. Heward Stikeman Chair in Tax Law at McGill University, tells Tax Notes contributing editor Robert Goulder about her proposal for a global excess profits tax as the third
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Getty For weeks, taxpayers have been desperately seeking answers on Economic Impact Payments (EIPs, or stimulus checks). Today, the Internal Revenue Service (IRS) has announced that it will add 3,500 telephone representatives to answer some of the most common questions. That’s good news. But the IRS reminds taxpayers that telephone assistance and other services will remain
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Getty The SBA just issued much-awaited guidance, allowing borrowers to claim forgiveness of their Paycheck Protection Program (“PPP”) loans.  The new guidance implements the single most enticing aspect of the CARES Act’s marquee borrowing initiative for small businesses and self-employed individuals—loan forgiveness.  The SBA’s Loan Forgiveness Application provides detailed instructions for borrowers and the calculation of PPP
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Economic Security Planning, Inc. Today’s column addresses questions about recouping benefits lost to the earnings test, information from Social Security about private pensions, how quarters and credits are counted, qualifying for lower Medicare premiums and being grandfathered out of the WEP. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and
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On Friday, May 15th, the Small Business Administration (SBA) released the application borrowers of a Paycheck Protection Program (PPP) loan must use to determine the amount of the loan that may be “forgiven” by their lender. While the application included instruction, the SBA failed to provide two additional items that would have greatly benefited borrowers:
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One Hundred Dollar Bill With Medical Face Mask on George Washington. Getty As Congress responds to the economic recession, job creation will be high on its list of priorities, and one option for encouraging innovation and job growth is to dust off the research credit and better align it with the policies it’s meant to promote. Congress has
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US Speaker of the House Nancy Pelosi arrives to speaks about the coronavirus pandemic during her … [+] weekly press conference at the US Capitol in Washington, DC, May 7, 2020. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images) AFP via Getty Images The U.S. House of Representatives is moving
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Federal prosecutors are coming down hard on suspected abuse of the Paycheck Protection Program. Getty The Paycheck Protection Program (PPP), provided under the CARES Act, has made available $659 billion in federal crisis aid for small businesses hurt by the COVID-19 pandemic and by the necessary state shutdown measures. Offering potentially forgivable loans covering up
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In new guidance, the SBA has quelled some of the anxiety about the necessity certification for PPP … [+] loans, hopefully encouraging more small businesses to seek crisis aid. Getty The Paycheck Protection Program provided under the CARES Act has given needed funding for small businesses affected by the COVID-19 pandemic. However, it has also raised
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The federal government is providing stimulus checks to Americans in the coming weeks. Getty The harsh economic consequences of the COVID-19 pandemic and the widespread shutdowns needed to contain it are starting to set in.  More than 16 million Americans have filed for unemployment and more will. In an effort to keep financially distressed Americans afloat.
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WASHINGTON, DC – APRIL 29: An ambulance sits parked on the plaza outside the U.S. Capitol, April 29, … [+] 2020 Washington, DC. House Majority Leader Steny Hoyer (D-MD) told reporters on Tuesday that the House will not return to Washington next week, reversing an announcement he made the previous day. Senate Majority Leader Mitch
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