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Tax Preparation
Your CPAs Guide To The New ERC Crisis
IRS Announces Moratorium on the Employee Retention Credit and Provides Guidance for Civil Penalty Amnesty to Withdrawing Improper Claims, Also Known As - Don’t Deposit That Check and Hire Legal Counsel The expansion and strong marketing tactics of good-for-nothing “accounting advisors” who encouraged taxpayers to qualify for the Employee Retention Credit (“ERC”) when they did not technically qualify has caused…
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Ten Defendants Charged In Covid-19 Relief Schemes Totaling Nearly $1 Million
The Department of Justice continues to focus on pandemic-related fraud. This week, a federal grand jury in the Western District of Tennessee returned an indictment charging ten individuals for their roles in schemes to defraud the Economic Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP). Grand Juries…
Race-Based Poll Taxes And 20th-Century Discrimination
Professor Jeremy Bearer-Friend of the George Washington University Law School discusses poll taxes in the 20th century and how they were used to target taxpayers based on race and ethnicity. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor…
U.S. Supreme Court May Blow Up Our Tax Code
Former House Speaker Paul Ryan (R-Ohio) recently warned that a “lot of the tax code would be unconstitutional” if the US Supreme Court rules for the petitioners in Moore v. United States, a case that challenges whether Congress may tax “unrealized” income. Among the laws in danger are those that…
Tax And Other Considerations For Charitable Giving Abroad In Times Of Crisis
As Americans absorb agonizing reports about Hamas' brutal terrorist attacks on Israeli civilians and Israel's bombing of Gaza in retaliation, many may want to give to help those suffering. Giving money in times like these can be tricky since, in addition to making sure your dollars are used wisely and…
Juror Sympathizing With The Rich, White And Entitled
The most important recent development in the government's long battle against abusive syndicated conservation easements. what I call the industry based on nonsense, has to be the outcome of the trial of Jack Fisher, James Sinnott and Clay Weibel. The jury convicted Fisher and Sinnott on multiple counts, while acquitting…
The Epilogue For OIRA Tax Review
It’s not a bill for a long-dreamed-of boys’ camp on the Plains, but Frank Capra would probably have appreciated the dramatic possibilities of the events leading up to the proposal of the IRS Accountability and Transparency Act (S. 2981). Standing in for Jimmy Stewart’s fictional Mr. Smith is Senate Finance…
How Four Aging Billionaires Are Making Sure Their Money Doesn’t Go To Uncle Sam
Boomers and their elders control $93 trillion, or two-thirds of America’s household wealth. Forbes 400 members Phil Knight, Charles Koch, Barry Diller and Harold Hamm give a master class in how to make sure your money goes to charity and children. By Matt Durot, Forbes Staff “There’s four seasons in…
Revving Up Your Savings About Transferring Your Clean Energy Credit To Your Dealer
Are you considering purchasing an electric vehicle but concerned about the price tag? Don't let sticker shock get you down – if you're eligible, you can take advantage of the clean energy credit to significantly reduce the cost of your purchase. This credit can be transferred directly to the dealer…
After Sen. Feinstein’s Death, Family’s Fight Over Assets Likely To Intensify
In her last days, Feinstein’s daughter and step-daughters battled in court over the Senator’s access to assets left by her very rich late husband, Richard C. Blum. It got nasty, with accusations of elder abuse. There are lessons here for all blended families–even those of more modest means. When Richard…
Electric Vehicle Buyers Can Soon Get Rebates At The Dealer
Starting in January, eligible electric vehicle buyers can receive a federal tax credit as an upfront discount at the dealership, making savings more immediate, the U.S. Treasury Department announced Friday. Prior to the new guidance, buyers – including those who bought electric vehicles this year – have had to claim…
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Creative Ways Startups Can Earn Funding in Tough Economic Times
In a declining economy, startups face an uphill battle when it comes to securing funding.…
I Asked AI to Create a Plan for a Fake Company — The Results Blew Me Away, But Not in the Way You Might Think
With all of the recent news about artificial intelligence (AI), it got me thinking about…
Ideas To Transform You From Good To Better To Best
A while back, I took a couple of my grandchildren on a tour of the…
5 Crucial Challenges Startups Must Overcome
Startups face numerous challenges on their journey to success, and failing to overcome any one…