In Part II, I review the commonly used corporate techniques to shelter profits in overseas low tax havens and why an ESG investor might want to push for more transparent jurisdiction by jurisdiction d...
Tag: Tax
Five Last-Minute Tax Deductions – TheStreet
2022 has been a bumpy ride for Americans, with a roiling economy, angst over viruses, surging numbers of layoffs, a lackluster stock market,, and a general downward tilt in consumer confidence. Weary ...
U.S. delays crypto tax reporting rules, as it still can’t define what a ‘broker’ is
A key set of crypto tax reporting rules is being delayed until further notice under a decision made by the United States Treasury Department. The rules were supposed to be effective in the 2023 tax fi...
IRS to delay $600 payment platform reporting threshold, calls 2022 “transition period”
The Internal Revenue Service is delaying new requirements that require third-party settlement organizations like PayPal and Venmo to report transactions that exceed a minimum threshold of $600 in aggr...
These 23 companies got $50 billion in tax breaks due to a Trump tax law
The government spending bill that was just passed through the Senate and awaits approval from Congress is estimated to total nearly $1.7 trillion. While it will fund a variety of initiatives like aid ...
How to maximize your tax deduction for charitable donations
Members of the Salvation Army play music during the lighting of the world’s largest Red Kettle in the Times Square neighborhood of New York, U.S., on Tuesday, Dec. 1, 2020. Jeenah Moon | Bloombe...
Buenos Aires plans to tax crypto mining activities in 2023
A province in Argentina, Buenos Aires, will begin taxing cryptocurrency mining activities and probably staking in 2023. A new proposal introduced by the government stated that cryptocurrency mining wo...
Buenos Aires to Tax Cryptocurrency Mining in 2023 – Regulation Bitcoin News
The province of Buenos Aires in Argentina will begin taxing cryptocurrency mining and possibly staking, in 2023. A new proposal modifies the tax law to introduce cryptocurrency mining as a taxable act...
UK tax regulator welcomes crypto service providers with new tax exemption
United Kindom’s tax regulator invited crypto service providers to operate in its jurisdiction by announcing the inclusion of cryptocurrencies in a tax exemption program. The Commissioners for His Maje...
Why Investors Need Better Corporate Tax Disclosures- Part I
In part I, using Ford Motor Company as an example, I argue that the sheer opacity of current tax disclosures makes it virtually impossible for even an informed investor to forecast a sustainable tax r...
One Trump tax return was audited by IRS audit, report says
Only one of Donald Trump‘s annual federal income tax returns began being audited by the IRS when he served as president, despite the agency having a policy dating to 1977 of conducting mandatory...
House Panel Votes To Release Trump Tax Returns
Topline The House Ways and Means Committee voted Tuesday to release six years of former President Donald Trump’s tax returns to the public, following years of legal battles between Trump and law...
Treasury delays electric vehicle tax credit guidance until March
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on Thursday, May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. Steve Fecht...
Trump’s Tax Returns Could Finally Be Made Public
Topline The House Ways and Means Committee is expected to vote Tuesday whether to release former President Donald Trump’s federal tax returns, in what could be the latest blow to Trump, who has faced ...
You can still reduce your 2022 tax bill with some last-minute moves
‘Take lemons and make lemonade’ with tax-loss harvesting With the S&P 500 Index down nearly 20% for 2022 as of midday Dec. 19, it may be a good time for tax-loss harvesting, which allo...
Why Tesla, GM to benefit from Treasury’s EV tax credit rule delay
Big news out of the federal government could be a big boon for certain automakers. The Treasury Department said yesterday it would delay releasing proposed guidance regarding the sourcing of EV batter...
OECD Crypto Tax Plans and Implications: What’s Coming in 2023
Crypto tax standards in the upcoming year may prove to be a trying time for the industry. Global tax regulators are applying more pressure on centralized and decentralized exchanges. This could even a...
Lower Crypto Tax In India Union Budget 2023?: What To Expect
India Crypto Tax News: With India’s finance minister Nirmala Sitharaman set to place the budget for 2023-24 soon, the crypto community is hoping for relief in the tough crypto tax stance. The Union Bu...
Japan Plans to Abolish Tax Deployed on Native Tokens of Crypto Firms
8 seconds ago | 2 mins read Bitcoin News The idea will be included in yearly tax policy guidelines for the country’s parliament. Token issuers are liable to a tax rate of about 35% on unrealized profi...
Low TDS Collection on Crypto May Spur Indian Government to Reduce Transaction Tax
A junior finance minister told the Indian parliament on Tuesday that the government has collected about $7.4 million in TDS on crypto transfers since July 1. Given the low numbers, the government may...
New tax rule for eBay and Venmo will cause ‘significant confusion,’ CPAs say
As Congress concludes 2022 with a sprint to pass laws and a spending deal, tax accountants are joining a chorus of e-commerce companies and pay platforms who say a revamped tax form is about to cause ...
My mom spent $90K on bitcoin and gifts in a romance scam. Can the tax code help her?
My mom went into debt to buy bitcoin for a scammer because she thought she was in a romantic relationship with him. She also racked up credit-card debt to mail computers and gift cards to the scammer....
Japan to Enforce Less Stringent Crypto Tax Rules
The Japanese government greenlighted a bill to exempt local cryptocurrency issuers from paying corporate tax on their holdings. The ruling body currently requires such firms to pay 30% on their owning...
Japanese Government To Ease 30% Crypto Tax Requirement
Presently Japanese crypto firms pay a set 30% corporate tax rate on their holdings, regardless of whether or not they made a profit. Due to this stringent tax law over the past years, some local crypt...
Colorado Residents Made Only 6 Tax Payments With Crypto Out of 1.37M in 3 Months
– Advertisement – Six crypto tax payments since September represent a lack of adoption triggered by several factors, including additional charges. Colorado’s desire to position itself ...
Japan to Ease Corporate Tax Rates for Token Issuers
Earlier this week, Japan’s ruling Liberal Democratic Party (LDP) approved a proposal that would exempt companies that issue cryptocurrencies from taxes on unrealized capital gains for tokens they reta...
Japan approves bill scrapping unrealized gains tax for crypto businesses
Japan has approved a proposal aimed at exempting crypto businesses from paying unrealized capital gains tax on their asset holdings. The move is aimed at creating an enabling environment for Japanese ...
House Financial Services Committee leader wants to extend crypto tax reforms
The chairman of the House Financial Services Committee, who is a leading Republican, has asked the Treasury Department to postpone enforcing the crypto tax provisions of the Infrastructure Investment ...
United States: Incoming lawmakers move to delay key legislation to tax crypto
U.S. Representative Patrick McHenry wrote a letter to the U.S. Treasury to delay crypto taxes. Many lawmakers this year have raised similar concerns. The United States midterm elections held in Novemb...
The New House Financial Services Committee Head Wants To Postpone Crypto Tax Measures
Representative Patrick McHenry, a Republican from the United States, sent a letter to the Treasury Department in which he asked for clarification on a portion of the digital asset tax that had been po...
Japan Reduces 30% Crypto Tax On Paper Earnings For Token Issuers
Even if they haven’t made a profit via the sale of their shares, Japanese crypto issuers are compelled to pay a predetermined corporation tax rate of 30% on their holdings under the current fram...