The International Monetary Fund has long favored adoption of a global minimum tax on corporate profits, the Fund's chief economist, Gita Gopinath, told reporters on Tuesday, calling tax avoidance a troubling issue for the global economy. Gopinath said current disparities...
Over eight million people opened new brokerage accounts in the first three quarters of 2020. While the thrill of enormous stock gains may have provided a much needed distraction for some during the pandemic, unintended tax consequences are now manifesting...
The names of the key players are different, but the lessons similar. The spectacular implosion of hedge fund Archegos Capital Management, much like the GameStop saga earlier this year, serves as a reminder of the dangers posed by extreme leverage,...
Secretary says she wants to find ‘fair’ solution for the limit Some Democrats are seeking repeal of $10,000 limitation U.S. Treasury Secretary Janet Yellen pledged to work with Congress to ease the $10,000 cap on state and local tax deductions...
If you didn't max out your 2020 Roth IRA contribution, it's not too late. The deadline for making your contribution isn't until Tax Day, typically April 15. But the IRS announced that it's extending the tax deadline to May 17....
While some Americans received their $1,400 stimulus checks from the government this weekend, the relaunch of the Get My Payment tool by the Internal Revenue Service has once again increased frustration. Many users, hoping to learn about the status of...
If you received unemployment benefits in 2020 and you’ve already filed your tax returns, the Internal Revenue Service is saying you don’t have to file an amended return to claim the new tax waiver on up to $10,200 of your...
The latest version of the $1.9 trillion federal coronavirus relief package could save millions of people who lost work due to the pandemic from a surprise tax bill. On Saturday, the Senate passed a version of the Covid bill that...
A dedicated team of IRS criminal investigation professionals is now working on identifying taxpayers who have omitted to disclose income from cryptocurrency. What Happened: In a Federal Bar Association presentation, Damon Rowe, the Director of the Office of Fraud Enforcement...
How is your state treating COVID loans made to companies? The U.S. Small Business Administration’s Paycheck Protection Program (PPP) is providing an important lifeline to help keep millions of small businesses open and their workers employed during the COVID-19 pandemic....
President Joe Biden has extended the government's lifelines that have helped homeowners keep their homes during the COVID financial crisis. Many mortgage holders have been only too eager to put their payments on hold, as allowed under the relief law...
Only 6.3 per cent of all rated Chinese developers can comply with the central bank’s red line limits on debt, according to S&P’s analysis Seven developers, or more than 20 per cent of those listed on the Shenzhen, Shanghai or...
The stock market may have recovered from the first shocks of the pandemic, but Americans’ retirement savings might not be as lucky. A majority of Americans — 60% — withdrew or borrowed money from qualified retirement plans since COVID-19 first...
The Hazards of Asset Allocation in a Late-stage Major Bubble The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble. Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believe...
There will be "bumpy moments" for UK businesses and travellers as they get to grips with new EU rules, says government minister Michael Gove. He said there would be "practical and procedural changes" when the Brexit transition period ends on...
