Senator Joe Manchin said he put the brakes on the Democrats’ tax and climate agenda in order to wait for July inflation data and to see what the Federal Reserve does next — but is willing to consider moving ahead in September. The West Virginia Democrat said Friday that he
An unprecedented global agreement on how to tax corporations, a key diplomatic win of President Joe Biden’s administration, is at risk of unraveling after members of his own party delayed a crucial vote, threatening the chances of the world’s biggest economy joining the deal. The U.S. Senate has an increasingly
Democrat Joe Manchin is once again playing spoiler for President Joe Biden’s economic agenda, bringing it to a screeching halt even after spending much of the year whittling down its grandest ambitions. The West Virginia senator said Friday it wouldn’t be “prudent” to act now on climate and tax plans
We’ve been here before. Since the emergence of bitcoin over a decade ago, the cryptocurrency market has undergone four crashes where the price of BTC has fallen at least 80 percent, if not more. Yet, each time the industry is written off like a burning tulip field, it rises from
Certainly, small business clients may know the tax benefits of having family members on the payroll, but a new Tax Court case, Wolpert, TC Memo 2022-70, 7/7/22, found that the payments must be for actual services rendered. Background: Hiring your child to work for your company can turn into a tax
Off to the stockade; for the kids; untrustworthy; and other highlights of recent tax cases. Columbia, South Carolina: Former IRS employee Wayne M. Garvin, 57, has been sentenced to 13 months in prison after admitting to filing false returns and providing fabricated records to the IRS to obstruct an audit
For those of you who just entering into the discussion, go back to parts one and two for IRS rulings and court decisions on whether deductions for expenses satisfy the “ordinary and necessary” requirements imposed by Code Section 162. More on such requirements in part three. Travel and entertainment. Long-standing
Mental health disorders are surprisingly common: The National Alliance on Mental Illness says 40 percent of US adults have an anxiety disorder, while over 20 million Americans have experienced a depressive episode at least once. According to Davis Behavioral Health, the five most common mental health issues in the US
Internal Revenue Service Commissioner Charles Rettig is scheduled to testify on Capitol Hill about recent reports that the IRS subjected two former FBI directors to purportedly random but rare tax audits after they were fired by former President Trump, even as IRS officials pointed Wednesday to possible explanations for the
Growing up, every summer and during breaks, I would go on church camp trips, retreats or service projects. I would return home after these trips with a newfound motivation – I was going to be a better person, I would be more mature, I would adopt all the lessons I
