Tag: tax

May 29, 2020

US President Donald Trump issued an executive order on Thursday aimed at preventing online censorship. This order increases the government’s ability to regulate social media platforms. The executive order also clarified the scope of immunity from liability that was created […]

May 11, 2020

The SBA Paycheck Protection Program (PPP) is the most significant small-business relief effort in modern history. A key component of the $600 billion-plus (and counting) stimulus rollout is that beneficiaries can have their loans forgiven so long as they use […]

April 27, 2020

What Was the Economic Recovery Tax Act of 1981? The Economic Recovery Tax Act of 1981 (ERTA) was the largest tax cut in U.S. history. Signed by President Ronald Reagan about six months after he took office, ERTA slashed the […]

April 22, 2020

The state of Missouri filed a lawsuit on Tuesday against the Chinese government and its top institutions, including the Chinese Academy of Sciences, the Ministry of Emergency Management and the People’s Government of Wuhan City, over their role in the […]

April 8, 2020

This may come as a surprise to many people, but not everyone needs to file a federal tax return. The Internal Revenue Service (IRS) has threshold levels for tax return requirements just like tax brackets. Whether or not you need […]

April 6, 2020

New York passed its 2020-2021 budget Thursday despite COVID-19 uncertainties. The New York State Assembly enacted legislative reforms alongside the budget. The most notable of these reforms include legalizing commercial surrogacy and outlawing the “pink tax.” In legalizing commercial surrogacy, […]

March 17, 2020

Airlines for America (A4A), the trade group for the US airline industry, on Monday asked for nearly $60 billion in direct assistance and loan guarantees as airlines worldwide struggle amid the novel coronavirus (COVID-19) spread. A4A stated that because the […]

March 13, 2020

The IRS estimates that 60% of taxpayers use paid preparers. If you regularly turn to a tax pro to prepare your return—or if you have just decided you want to work with one—here are some tips for finding the right […]

February 27, 2020

Most savings accounts—and similar places to park your cash, such as money market funds—require that you pay taxes on the interest that you earn. A few types of savings accounts and other financial instruments are exceptions to this rule and […]

February 26, 2020

California Attorney General Xavier Becerra on Tuesday announced a settlement agreement between state attorneys general, local subdivisions, and Mallinckrodt (MNK), its subsidiaries, and certain other affiliates. MNK, the largest generic opioid manufacturer in the US, agreed to pay $1.6 billion […]