Actor Charlie Sheen has owed the IRS millions for years and has long been trying to hold them at bay. Convincing the IRS they are wrong is not easy, especially where the IRS has discretion, and where ...
Tag: Tax
Allen Weisselberg—Longtime Trump Organization CFO—Pleads Guilty In Tax Scheme
Topline Allen Weisselberg, a longtime Trump Organization CFO, pleaded guilty to 15 criminal tax fraud charges Thursday—admitting to conspiring in a scheme to avoid paying taxes on corporate benefits—m...
Why The Inflation Reduction Act’s SAF Tax Credit Won’t Be Enough To Stop Airline Emissions’ Rise
Air travel demand is increasing much more rapidly than the supply of sustainable aviation fuel. Getty Images By Robbie Bourke and David Kaplan Robbie is a partner with Oliver Wyman’s aviation practice...
a national digital currency to prevent tax evasion
In Colombia, the new government of President Gustavo Petro wants to create a national digital currency to prevent tax evasion in the country. Colombia: new government wants to establish a new national...
Inflation Reduction Act promises tax credits for EVs — here’s how to claim them
Your new electric car may land you a $7,500 tax credit now that the Inflation Reduction Act — designed to fight climate change and inflation — has been signed into law by President Biden. But the new ...
Colombia to prevent tax evasion with national digital currency: Report
AmColombia’s economic growth beat expectations in the second quarter, an official at the country’s tax and customs agency has hinted at some national digital currency plans. Luis Carlos Reyes, the hea...
IRS targets SFOX users for possible tax crimes
The IRS can serve a John Doe summons on crypto prime dealer SFOX, according to an order entered by a federal district in California on Monday. The order allows the agency to seek information about tax...
These Are The EVs And PHEVs That Still Qualify For Federal Tax Credits Through 2022
Woefully few electric vehicles will still qualify for a federal tax credit under the Inflation … [+] Reduction Act. getty As part of a massive tax, climate, and health-care bill signed into law ...
Why Colombia Will Create CBDC To Reduce Tax Evasion
The Colombian government contemplates deploying a central bank digital currency (CBDC) to mitigate tax evasion. The country recently went through a change of government, and the new Gustavo Petro-led ...
What car buyers should know about the coming tax credits for EVs
An electric vehicle at a charging station at Chula Vista City Hall in March 2021. The Inflation Reduction Act includes tax credits for the purchase of electric vehicles. (Rob Nikolewski / San Diego Un...
Don’t worry about a beefier IRS, unless you’re a tax cheat
The tax man has not been cometh-ing very much, and Democrats aim to fix that with a key plank of the newly passed Inflation Reduction Act. Republicans warn this is really an assault on working-class A...
Colombia Plans to Launch Digital Currency to Reduce Tax Evasion – Coinotizia
The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made b...
IRS takes out John Doe summons on crypto prime dealer SFOX to find tax cheat customers
The Central District of California federal court entered an order Monday to authorize the United States Internal Revenue Service (IRS) to serve a John Doe summons on SFOX, a Los Angeles-based cryptocu...
Colombia Plans to Launch Digital Currency to Reduce Tax Evasion – Regulation Bitcoin News
The government of Colombia revealed it has plans to launch a digital currency. One of the purposes of this new currency would be to curb tax evasion and enhance the traceability of transactions made b...
Biden signs Inflation Reduction Act into law, setting 15% minimum corporate tax rate
After more than a year of debate over costs, taxes, tax credits and regulations, President Joe Biden finally signed his sweeping tax, health and climate bill into law — albeit a significantly reduced ...
New Buyback Excise Tax Snares Foreign Investors
President Joe Biden (C) shakes hands with Sen. Joe Manchin (D-WV) after signing The Inflation … [+] Reduction Act at the White House on August 16th. (Photo by Drew Angerer/Getty Images) Getty Im...
IRS to Serve Summons to Crypto Dealer SFOX Looking for Possible Tax Evaders
The court order, which was approved by a judge in the Central District of California, authorizes the IRS to serve the summons against SFOX, asking for information about any “U.S. taxpayers who c...
The New EV Tax Credit Won’t Cover All Teslas and Other Cars. How It Will Work.
New electric-vehicle tax credits depend on where the cars are assembled, what the EVs cost, and how much money buyers make. Stefani Reynolds/AFP/Getty Images Text size The Inflation Reduction Act shou...
UK’s Channel Islands Tax Haven Luring Investors into Crypto
While the financial world is hesitant to trade Bitcoin because of the recent market crash, the Channel Islands – several small British Overseas Territories – are quietly offering tax incen...
Inflation Reduction Act would send $80 billion to the IRS. Tax experts say it may not be enough to help the backlogged agency.
For roughly a year, Jonathan Baer watched a paper folder full of tax-related paperwork slowly grow as he chronicled his effort to claim his 2020 tax refund. The attempts included upwards of 40 phone c...
VinFast says pre-orders “will get a $7,500 rebate,” federal tax credit or not
We wrote that the Vietnamese EV car company Vinfast is bringing its EV companies to the US. Since then, congress announced it is making changes to the $7,500 federal electric vehicle tax credit, meani...
Sinema took Wall Street money while killing tax on investors
Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equit...
Anguilla Residency Program Offers New Tax Haven For Investors
Picture from the Caribbean island of Anguilla. getty Anguilla, a British territory in the Caribbean, is a new member of the group of countries offering citizenship-by-investment. It could well become ...
Last Twenty Years Clarifies Call For Windfall Profits Tax.
Senator Bob Dole (Republican – Kansas) proposed a windfall profits tax tied to inflation circa 1980. Bettmann Archive When profits reported by oil and gas companies are big, they can be really b...
Georgia Shows Contrasting Direction Of Federal & State Tax Burdens
Senator Raphael Warnock bumps elbows with Stacey Abrams during a campaign rally with U.S. … [+] President-elect Joe Biden (Photo by Drew Angerer/Getty Images) Getty Images While Congress is gett...
Billionaire Mark Cuban Takes Surprise Stance on Controversial New Tax
No subject is more controversial in economic circles right now than taxes. Tensions heighten even more when the specific subject is a new tax aimed at businesses. Simply put, the business community ha...
IRS Launches Court Action in Crackdown on Crypto Tax Evaders
The U.S. taxman is clamping down on potential tax evaders by going to court to demand information from a cryptocurrency dealer. The Internal Revenue Service (IRS) has asked federal judges to give it t...
The Inflation Reduction Act should have closed this tax loophole for the rich. Here’s the real cost of Sen. Sinema’s decisive vote
On Sunday, Senate Majority Leader Chuck Schumer and Sen. Joe Manchin struck a deal with Arizona Sen. Kyrsten Sinema to pass the Inflation Reduction Act of 2022. The deal came with a special compromise...