How to use a required minimum distribution for unpaid quarterly taxes

Sdi Productions | E+ | Getty Images If you’re retired and skipped your 2022 tax payments, you can still avoid late penalties with an under-the-radar year-end strategy, experts say. Since taxes a...

Year-End Changes To Lower Your Liability

Getty Images Key takeaways Tax season lies just around the corner, which means it’s time to seek those last-minute tax breaks While tax rates haven’t changed, each tax bracket (income range) has adjus...

How do Crypto Taxes Affect Crypto Prices?

Crypto taxes, or the taxes that apply to cryptocurrency transactions, have become an increasingly important consideration for individuals and businesses involved in the crypto market. The tax implicat...

4 Retirement Planning Moves That Can Save Big on Taxes, Including Capital Gains

When it comes to investing for retirement it’s not just a matter of how much you make – it’s also a matter of how much you keep. The surest way to boost the returns on your retirement mone...

This Could Make Your Medicare Premiums Even Higher. Here’s How to Avoid IRMAA.

People who think IRMAA is another hurricane may have a tax shock coming when they go on Medicare. IRMAA is short for income-related monthly adjustment amount. It frequently surprises retirees because ...

Help Me Understand the Math. How Does Donating to Charity Reduce My Taxes?

Ask an Advisor: Help Me Understand the Math. How Does Donating to Charity Reduce My Taxes? If I give $50,000 in cash to a charity, does that lower my taxable adjusted gross income (AGI) by $50,000? So...

Billionaire Ken Griffin Sues IRS Over Leak Exposing Taxes Paid By 25 Richest Americans

Topline Hedge fund billionaire Ken Griffin, who founded and helms trading powerhouse Citadel, has sued the Internal Revenue Service and Treasury Department for alleged negligence in maintaining safegu...

When to submit your tax return in 2023 to avoid missing forms

If you’re eager to file your 2022 tax return in January or early February, the IRS has a warning: You’ll need to wait for “key documents” before filing in 2023. In a release la...

5 money moves to make now to ensure financial success in the new year

The end of the year is an important time for making financial decisions that can have an impact in the year ahead — and for years to come. From your work to your savings and investments to spending an...

Uncertain Plans for a New Global Minimum Tax Are Weighing on Business

Text size Complexity and uncertainty have ballooned since the 2017 U.S. tax reform normalized minimum taxes, writes Daniel Bunn. Dreamstime About the author: Daniel Bunn is president and CEO of the Ta...

What the pro-business tax agenda is chasing in a changing Congress 

Sunrise hits the U.S. Capitol dome on September 30, 2021 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images Main Street could find itself stuck in gridlock next year in terms of ad...

How to prepare for a 1099-K for online payments and reduce your taxes

Charday Penn | E+ | Getty Images If you’ve accepted payments via apps such as Venmo or PayPal in 2022, you may receive Form 1099-K, which reports income from third-party networks, in early 2023....

The IRS Versus The Clumsy Taxpayer

daniel Downey for forbes The penalty for fairly innocent goofs can run into the millions of dollars. Is there any limit to how unpleasant the IRS can be with people who pay all their taxes but don’t f...

Brussels Wants All Crypto Service Providers to Report Transactions of Europeans – Taxes Bitcoin News

The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto se...

Crypto’s ‘Easy Money’ Scams Need Tougher Oversight – ECB Board Member

In a speech this week, European Central Bank board member Fabio Panetta called for broader taxation on crypto assets, which he likened to a Ponzi scheme.  “The EU should introduce a tax levied on cros...

Tobacco Tycoon’s Wealth Declines As Indonesia Ratchets Up Taxes To Curb Smoking

This story appears in the December 2022 issue of Forbes Asia. Subscribe to Forbes Asia Susilo Wonowidjojo Gudang Garam This story is part of Forbes’ coverage of Indonesia’s Richest 2022. See the full ...

Kanye West’s Yeezy Brand Owes $600,000 In Unpaid State Taxes, Records Show

Topline Kanye West’s brand Yeezy Apparel owes California more than $600,000 in unpaid tax debt, according to state lien notices sent to the company in recent years, as West’s financial troubles deepen...

European Commission could raise $2.5bn in crypto taxes

The European Commission has reportedly drafted a proposal to tax crypto assets to raise around $2.5 billion. This directive will affect regulated cryptocurrency networks and investors located in the E...

Crypto taxes could bring in $2.5 billion for the EU, leaked draft suggests

Crypto traders beware: the European Union may have a tax surprise in store. A European Commission proposal for taxing crypto estimates that taxes on crypto assets could raise as much as €2.4 bil...

Argentina Signs Automatic Tax Data Sharing Agreement With the United States – Taxes Bitcoin News

The government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by Sergio Massa, minister of...

Indian Crypto Association Secure Concessions From High Taxes

The controversial taxes slapped on crypto transactions in India have continued to create a negative ripple effect. Earlier this year, the Indian Parliament passed this controversial tax proposal which...

Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions – Taxes Bitcoin News

A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report ha...

Save Thousands In Taxes by Harvesting NFT Losses

sponsored There’s a silver lining to the crash in the NFT market — millions of dollars of potential tax-savings. To help NFT investors claim their tax-savings before the end of the year, CoinLedger re...

Indian Crypto Association Seeks Relief from High Taxes

A prominent Indian cryptocurrency trade body – Bharat Web3 Association (BWA) – has red-flagged the high taxes and regulatory uncertainty in its draft of concerns and recommendations submitted to the I...

Tax strategy that may offset losses – but investors need to act now

Investors may get a wake-up call this winter when it comes to taxes, but it doesn’t have to be that way. According to BNY Mellon’s Ben Slavin, it’s a key time to sell losing investme...

Do I Owe Taxes on My Canceled Debt?

why is debt cancellation tax free Usually, if you have a debt canceled, you will owe taxes on the amount of the canceled debt. The Internal Revenue Service does not consider debt as income unless the ...

How to Deduct Stock Losses on Your Taxes

stock losses taxes Capital gains and capital losses both have tax implications. When you sell stocks for a profit, you owe taxes on those gains. These taxes are calculated based on capital gains rates...

Mutual Fund Holders Face Double Trouble

If you’re a stock-mutual fund holder, you may face a double whammy this year. First, the value of your holding has likely dropped along with the overall market.  As shareholders have exited mutual fun...

Here’s why your tax refund may be smaller in 2023, the IRS says

If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS.  Typically, you get a federal refund when you’ve overpaid yearly taxes or ...

Italy Wants to Tax Crypto Gains at 26% From 2023 – Taxes Bitcoin News

The new government of Italy plans to impose a 26% tax on capital gains from crypto trading, according to the draft budget for next year. The center-right coalition in power is also preparing to oblige...

Italy Set to Introduce Heavy Taxes on Crypto Gains

After Portugal, another European country is set to toughen crypto regulations and further expand taxation on crypto trading. A provision in Italy’s 2023 budget plan seeks to levy a staggering 26% tax ...

Double-digit percentage drop will hit stocks in 2023: Morgan Stanley

Investors may be on the doorstep of a deep pullback. Morgan Stanley’s Mike Wilson, who has a S&P 500 year-end target of 3,900 for next year, warns corporate America is getting ready to unlea...