How Accounting Giants Craft Favorable Tax Rules From Inside Government

Lawyers from top accounting firms do brief stints in the Treasury Department, with the expectation of big raises when they return.

#accounting-and-accountants, #corporate-taxes, #deloitte-touche-tohmatsu-ltd, #ernstyoung, #ethics-and-official-misconduct, #federal-taxes-us, #internal-revenue-service, #kpmg, #lobbying-and-lobbyists, #pricewaterhousecoopers, #regulation-and-deregulation-of-industry, #rsm, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-shelters, #taxation, #treasury-department, #united-states-politics-and-government

Hospitals and Health Care Workers, Overwhelmed by Covid

Burned-out health professionals and overwhelmed hospitals. Also: The child tax credit; counterterrorism; Democrats and taxes; “Medicare for all.”

#brown-sherrod, #child-tax-credits-and-stipends, #children-and-childhood, #coronavirus-2019-ncov, #democratic-party, #federal-taxes-us, #hospitals, #medicare, #parenting, #tax-credits-deductions-and-exemptions, #terrorism, #united-states-politics-and-government, #vaccination-and-immunization

From 4% to 45%: Biden Sets an Ambitious Plan for Solar Energy

The administration has offered only a broad outline of its plan, and many of the details will be decided by congressional lawmakers.

#alternative-and-renewable-energy, #batteries, #biden-joseph-r-jr, #disasters-and-emergencies, #electric-light-and-power, #energy-department, #global-warming, #granholm-jennifer-m, #greenhouse-gas-emissions, #solar-energy, #tax-credits-deductions-and-exemptions, #united-states, #united-states-economy, #united-states-politics-and-government

Child Tax Credit Payments Have Begun. Should You Opt Out?

While the payments in advance of tax season are a welcome relief for many families, there may be reasons for others to decline the money, for now.

#child-tax-credits-and-stipends, #content-type-service, #federal-taxes-us, #income-tax, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

It Turns Out That the Era of Big Government Isn’t Over

Joe Biden continues to surprise us. 

#american-jobs-plan-2021, #child-tax-credits-and-stipends, #inflation-economics, #international-olympic-committee, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

In Case Against Trump’s Company, Echoes of His Father’s Tactics on Taxes

The first criminal prosecution involving the former president’s business hearkens back to Fred Trump’s $16,135 purchase of boilers in the 1990s.

#federal-taxes-us, #income-tax, #inheritance-and-estate-taxes, #new-york-state, #tax-credits-deductions-and-exemptions, #tax-evasion, #trump-organization, #trump-tax-returns, #trump-donald-j, #trump-fred-c, #trump-ivanka, #trump-robert-s-1948, #united-states-politics-and-government, #weisselberg-allen

What You Need to Know About the Child Tax Credit

In mid-July, millions of families will get the first of six monthly payments of as much as $300 per child from the U.S. government.

#child-tax-credits-and-stipends, #content-type-service, #federal-taxes-us, #income-tax, #tax-credits-deductions-and-exemptions

Bipartisan Infrastructure Deal Omits Big Climate Measures

Democrats hope to include climate and clean energy in a second bill. It could be Biden’s last chance to pass major global warming legislation.

#air-pollution, #alternative-and-renewable-energy, #biden-joseph-r-jr, #carper-thomas-r, #democratic-party, #electric-and-hybrid-vehicles, #global-warming, #greenhouse-gas-emissions, #infrastructure-public-works, #senate, #tax-credits-deductions-and-exemptions, #wind-power

Biden and Senators Close In on Bipartisan Infrastructure Deal

Lawmakers were set to take a tentative framework to the White House on Thursday. Administration officials signaled the president was prepared to support it, pending final details.

#american-jobs-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #infrastructure-public-works, #republican-party, #senate, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

Infrastructure Bill Talks Collide With Democrats’ Goal to Tax the Rich

Many Democrats see the push for an infrastructure package as an opportunity to raise taxes on rich individuals and corporations. But resistance is coming from multiple directions.

#american-families-plan-2021, #american-jobs-plan-2021, #capital-gains-tax, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #infrastructure-public-works, #sanders-bernard, #senate, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #united-states-politics-and-government, #warren-elizabeth, #wyden-ron

Coming Soon: $300 Checks for Parents

An expanded Child Tax Credit distributed as monthly checks will start reaching households in July and last through the end of the year.

#children-and-childhood, #parenting, #single-parents, #tax-credits-deductions-and-exemptions, #women-and-girls

ProPublica Report Has Congress Rethinking How to Tax Superrich

A report showing that the richest Americans, including Jeff Bezos, Elon Musk and Warren Buffett, pay almost no taxes has refocused attention on the tax code.

#alternative-minimum-tax, #biden-joseph-r-jr, #capital-gains-tax, #corporate-taxes, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #pro-publica, #propublica, #republican-party, #senate-committee-on-finance, #stocks-and-bonds, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-shelters, #taxation, #toomey-patrick-j, #united-states-economy, #united-states-politics-and-government, #warren-elizabeth, #wyden-ron

How Long Should It Take to Give Away Millions?

The promise of philanthropy was that the wealthy could enjoy tax breaks for their charitable contributions. The pandemic laid bare how accumulation can trump getting money to those in need. A Senate bill aims to change that.

#arnold-john-douglas-1974, #bezos-earth-fund, #fidelity-charitable-gift-fund, #grassley-charles-e, #high-net-worth-individuals, #king-angus-jr, #law-and-legislation, #philanthropy, #tax-credits-deductions-and-exemptions

Rich Americans Like Bezos, Musk, Buffett Avoided Income Tax

An analysis by ProPublica based on Internal Revenue Service documents showed billionaires like Jeff Bezos and Elon Musk benefited from vagaries in the tax code.

#corporate-taxes, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation

Dealing With Our Segregated, Jim Crow Education System

The George Floyd case may represent a milestone of progress in criminal justice. But can we expand this recognition of unfairness and inequity to other spheres?

#black-people, #discrimination, #education, #floyd-george-d-2020, #george-floyd-protests-2020, #humphreys-county-miss, #internal-revenue-service, #segregation-and-desegregation, #supreme-court-us, #tax-credits-deductions-and-exemptions

Amazon Paid No Corporate Tax to Luxembourg

The e-commerce giant’s European retail business had record sales in 2020, but its headquarters on the continent reported a $1.4 billion loss.

#amazon-com-inc, #company-reports, #corporate-taxes, #e-commerce, #income-tax, #institute-on-taxation-and-economic-policy, #luxembourg, #politics-and-government, #tax-credits-deductions-and-exemptions, #tax-shelters, #united-states-economy

E.V. Buying Guide: What to Know About Models, Batteries, Charging and More

Buying an electric car can be exciting and bewildering. Consider what kind of car you want and need and where you will charge.

#automobiles, #bayerische-motorenwerke-ag, #content-type-service, #electric-and-hybrid-vehicles, #ford-motor-co, #fuel-efficiency, #fuel-emissions-transportation, #general-motors, #greenhouse-gas-emissions, #lucid-holdings-llc, #mercedes-benz, #musk-elon, #nissan-motor-co, #personal-finances, #rivian-automotive-llc, #sports-utility-vehicles-and-light-trucks, #tax-credits-deductions-and-exemptions, #tesla-motors-inc, #united-states, #volkswagen-ag

Biden and the Future of the Family

There’s a good case for doing more to improve physical assets. There’s an overwhelming case for doing more to help families with children.

#american-families-plan-2021, #biden-joseph-r-jr, #child-care, #children-and-childhood, #democratic-party, #families-and-family-life, #parenting, #republican-party, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government

Why a $10,000 Tax Deduction Could Hold Up Trillions in Stimulus Funds

The fight over SALT is a case study in the age-old conflict between constituent politics and national policy.

#american-jobs-plan-2021, #biden-joseph-r-jr, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #infrastructure-public-works, #institute-on-taxation-and-economic-policy, #ocasio-cortez-alexandria, #property-taxes, #stimulus-economic, #suozzi-thomas-r, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #united-states-politics-and-government

How the Wealthy Are Planning for Biden’s Tax Increases

Financial advisers say they have been flooded with calls from clients who are trying to predict which of President Biden’s tax proposals will become law.

#american-families-plan-2021, #biden-joseph-r-jr, #capital-gains-tax, #content-type-service, #federal-taxes-us, #high-net-worth-individuals, #inheritance-and-estate-taxes, #tax-credits-deductions-and-exemptions, #wills-and-estates

Biden’s American Families Plan Should Give Power to Parents

Biden gets family policy half right.

#american-families-plan-2021, #child-care, #children-and-childhood, #domestic-policy-council-us, #education-k-12, #education-pre-school, #families-and-family-life, #parenting, #pew-research-center, #tax-credits-deductions-and-exemptions, #united-states, #united-states-politics-and-government

Biden, Calling for Big Government, Bets on a Nation Tested by Crisis

The president’s speech laying out trillions of dollars in new economic proposals plays to voters’ warm feelings toward federal aid in the coronavirus pandemic.

#american-families-plan-2021, #american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #corporate-taxes, #federal-taxes-us, #income-inequality, #infrastructure-public-works, #obama-barack, #polls-and-public-opinion, #recession-and-depression, #stimulus-economic, #tax-credits-deductions-and-exemptions, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

Biden $1.8 Trillion Plan: Child Care, Student Aid and More

The proposed American Families Plan would expand access to education and child care. It would be financed partly through higher taxes on the wealthiest Americans.

#american-families-plan-2021, #american-jobs-plan-2021, #american-rescue-plan-2021, #biden-joseph-r-jr, #child-care, #children-and-childhood, #colleges-and-universities, #community-colleges, #education-k-12, #education-pre-school, #families-and-family-life, #federal-taxes-us, #income-inequality, #infrastructure-public-works, #labor-and-jobs, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

A New Benefit Raises an Old Question: Which Mothers Should Work?

A groundbreaking child allowance stirs a debate among Republicans between promoting work and promoting traditional families.

#american-rescue-plan-2021, #black-people, #children-and-childhood, #families-and-family-life, #poverty, #tax-credits-deductions-and-exemptions, #united-states, #welfare-us

Why Are Democrats Pushing a Tax Cut for the Wealthy?

Restoring an unlimited federal tax deduction for state and local tax payments is bad politics and bad policy.

#federal-taxes-us, #income-inequality, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation, #united-states-politics-and-government

Biden Will Seek Tax Increase on Rich to Fund Child Care and Education

The president’s American Family Plan, which remains in flux, does not currently include an effort to expand health coverage, as administration officials had previously planned.

#american-jobs-plan-2021, #biden-joseph-r-jr, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #infrastructure-public-works, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

Biden Administration Debating How to Overhaul a Trump-Era Tax Break

The president promised on the campaign trail to overhaul opportunity zones, which a new study suggests mostly fueled real estate investment in gentrifying areas in 2019.

#area-planning-and-renewal, #biden-joseph-r-jr, #enterprise-zones, #gentrification, #real-estate-commercial, #real-estate-and-housing-residential, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

Make Tax-Dodging Companies Pay for Biden’s Infrastructure Plan

The corporate income tax has been gutted. Raising rates and cracking down on evasion are sensible ways to come up with trillions of dollars.

#corporate-taxes, #federal-taxes-us, #tax-credits-deductions-and-exemptions, #tax-shelters, #united-states-economy, #united-states-politics-and-government

No Federal Taxes for Dozens of Big, Profitable Companies

FedEx and Nike are among those found to have avoided U.S. tax liability for three straight years.

#corporate-taxes, #federal-taxes-us, #income-tax, #institute-on-taxation-and-economic-policy, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation, #united-states-economy, #united-states-politics-and-government

Biden’s Push for Electric Cars: $174 Billion, 10 Years and a Bit of Luck

The president is hoping to make electric vehicles more affordable to turn a niche product into one with mass appeal.

#automobiles, #biden-joseph-r-jr, #electric-and-hybrid-vehicles, #factories-and-manufacturing, #farley-james-d, #ford-motor-co, #general-motors, #infrastructure-public-works, #tax-credits-deductions-and-exemptions, #united-automobile-workers, #united-states, #united-states-economy, #volkswagen-ag

Democrats Look to Smooth the Way for Biden’s Infrastructure Plan

House Democrats face hurdles to pushing through the president’s big spending plans, including Republican opposition and resistance from their own ranks.

#american-rescue-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #house-of-representatives, #infrastructure-public-works, #senate, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation, #united-states-economy, #united-states-politics-and-government

How Murray and DeLauro Scored Big Wins in Biden’s Stimulus

After working for decades on the issue, Senator Patty Murray and Representative Rosa DeLauro teamed up to ensure that the stimulus law included a lifeline to the nation’s poorest families.

#american-rescue-plan-2021, #biden-joseph-r-jr, #children-and-childhood, #content-type-personal-profile, #delauro-rosa-l, #democratic-party, #families-and-family-life, #house-of-representatives, #murray-patty, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #women-and-girls

How Complexity Could Mar Rollout of the New Obamacare Subsidies

The stimulus bill spends billions to help more Americans buy affordable health insurance. But getting those dollars will take some work, and some waiting.

#american-rescue-plan-2021, #health-insurance-and-managed-care, #healthcare-gov, #patient-protection-and-affordable-care-act-2010, #stimulus-economic, #tax-credits-deductions-and-exemptions

Some Changes That May Affect Next Year’s Tax Return

You might not have filed this year’s return yet, but you should keep in mind that Congress changed the rules on things like charitable contributions and tax breaks for educational expenses for 2022.

#content-type-service, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #philanthropy, #stimulus-economic, #tax-credits-deductions-and-exemptions

The Tax Headaches of Working Remotely

“Each state has its own rules,” one tax expert says. So if you worked in a state other than your usual one in 2020, here are some tips on dealing with the tax season.

#content-type-service, #coronavirus-2019-ncov, #income-tax, #personal-finances, #quarantine-life-and-culture, #shutdowns-institutional, #states-us, #suits-and-litigation-civil, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation, #taxation, #telecommuting

How Your 2020 Taxes Are Affected by the Coronavirus Pandemic

New rules, many of them temporary, give taxpayers breaks that can cut their tax bills or even generate extra refunds this year.

#content-type-service, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #income-tax, #internal-revenue-service, #personal-finances, #rebates-and-refunds, #stimulus-economic, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation, #unemployment-insurance

It May Be Time to Start Worrying About the Estate Tax

Most people have been able to pass on assets like a family home without federal tax, but that could be changing.

#biden-joseph-r-jr, #content-type-service, #federal-taxes-us, #high-net-worth-individuals, #inheritance-and-estate-taxes, #personal-finances, #real-estate-and-housing-residential, #tax-credits-deductions-and-exemptions, #tax-shelters, #taxation, #wills-and-estates

Need Health Insurance? A Guide to New Options Under the Stimulus.

There is more financial assistance for more people seeking coverage. And many people who are already covered can get discounts, too, if they sign up.

#american-rescue-plan-2021, #content-type-service, #health-insurance-and-managed-care, #medicare, #patient-protection-and-affordable-care-act-2010, #stimulus-economic, #tax-credits-deductions-and-exemptions

A Break for Working Families

The government is allowing people who qualify for the earned-income tax credit to use income from either 2020 or 2019, whichever will result in a bigger credit.

#content-type-service, #coronavirus-2019-ncov, #families-and-family-life, #income-tax, #internal-revenue-service, #rebates-and-refunds, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

Biden, Champion of Middle Class, Comes to Aid the Poor

President Biden’s new role as a crusader for Americans in poverty is an evolution for a politician who has focused on the working class and his Senate work on the judiciary and foreign relations.

#american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #house-of-representatives, #income-inequality, #poverty, #recession-and-depression, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

Congress Clears $1.9 Trillion Aid Bill, Sending It to Biden

The sweeping legislation had no support from Republican lawmakers, who called it bloated and unaffordable. It will deliver emergency aid and broader assistance to low- and middle-income Americans.

#american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #federal-aid-us, #house-of-representatives, #republican-party, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

A Safety Net for American Children

Inside the $1.9 trillion economic stimulus bill, there is a provision that is revolutionary in the way the U.S. government regards minors.

#american-rescue-plan-2021, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #deparle-jason, #families-and-family-life, #income, #stimulus-economic, #tax-credits-deductions-and-exemptions, #united-states-economy

In the Stimulus Bill, a Policy Revolution in Aid for Children

The $1.9 trillion pandemic relief package moving through Congress advances an idea that Democrats have been nurturing for decades: establishing a guaranteed income for families with children.

#american-rescue-plan-2021, #biden-joseph-r-jr, #black-people, #children-and-childhood, #coronavirus-2019-ncov, #families-and-family-life, #georgia, #house-of-representatives, #income-inequality, #income-tax, #parenting, #poverty, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment, #united-states-economy, #united-states-politics-and-government, #welfare-us

What’s in the Stimulus Bill? A Guide to Where the $1.9 Trillion Is Going

The measure passed by the Senate, and headed to the House for final approval before going to President Biden’s desk, contains money for direct checks, jobless benefits, state and local aid, and more.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #federal-taxes-us, #health-insurance-and-managed-care, #law-and-legislation, #minimum-wage, #patient-protection-and-affordable-care-act-2010, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

Kamala Harris: Women Leaving Work Force During Pandemic Is a ‘National Emergency’

“In one year,” Vice President Kamala Harris said, “the pandemic has put decades of the progress we have collectively made for women workers at risk.”

#biden-joseph-r-jr, #child-care, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #delauro-rosa-l, #harris-kamala-d, #labor-and-jobs, #layoffs-and-job-reductions, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government, #women-and-girls

‘There’s No Natural Dignity in Work’

Punishing mothers for needing help cannot be the answer. A generous child allowance might be.

#child-care, #poverty, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #welfare-us

Would Americans Have More Babies if the Government Paid Them?

One policy goal of a child allowance is to reverse declines in fertility, but some experts say improving families’ well-being is more important.

#biden-joseph-r-jr, #birth-rates, #families-and-family-life, #parenting, #research, #romney-mitt, #tax-credits-deductions-and-exemptions, #united-states, #united-states-politics-and-government

Under Biden and Romney Stimulus Plans, An Approach to Help Families

Under plans by President Biden and Senator Mitt Romney, children would be worthy of government support, no strings attached.

#child-care, #children-and-childhood, #social-security-us, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #welfare-us

Crisis Spurs Congress Toward Big Measures to Lift Families From Poverty

Lawmakers, including at least one Republican, are focused on providing monthly payments to help families with children make ends meet.

#children-and-childhood, #coronavirus-2019-ncov, #democratic-party, #food-insecurity, #house-of-representatives, #labor-and-jobs, #poverty, #republican-party, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

The Problem With Using Tax Credits to Fight Poverty

Requiring work in exchange for benefits is an unfair system that doesn’t help the neediest. But that could change.

#biden-joseph-r-jr, #black-people, #income-tax, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #welfare-us