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March 5, 2021

Government taxation and revenue

Hedge fund chief Thomas Sandell pays $105 million to settle New York tax fraud claim

CNBC
CNBC – For more and to sign up click here Hedge fund founder Thomas Sandell on Tuesday paid a whopping $105 million to settle claims that he fraudulently evaded New York city and state taxes on more than $450 million on fees he earned, officials said. The settlement — of......

How much I overpaid by living off bitcoin for a week

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CNBC – For more and to sign up click here Four years ago, I attempted to live off bitcoin for a week and failed. It was too hard to find businesses that would accept it as a form of payment. Bitcoin was trading in the $2,500 range at the time......

Elizabeth Warren, Bernie Sanders propose 3% wealth tax on billionaires

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CNBC – For more and to sign up click here Sen. Elizabeth Warren, D-Mass., holds a news conference to announce legislation that would tax the net worth of America’s wealthiest individuals at the U.S. Capitol on Mar. 1, 2021 in Washington. Chip Somodevilla | Getty Images A slew of Democrats......

The IRS got 35 million tax returns in one week as Americans race to file and get their refunds

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CNBC – For more and to sign up click here Americans are not messing around this tax season. In just one week since the tax filing period opened on Feb. 12, the IRS received nearly 35 million individual tax returns, according to data released by the agency on Thursday. The......

Congress is working on new $1,400 stimulus checks. Here’s who could be eligible for the first time

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CNBC – For more and to sign up click here Austin Goergen, a student at Oregon State University, started a petition last year to allow dependents ages 17 and up to qualify for stimulus checks. Austin Goergen Washington lawmakers are one step closer to authorizing new $1,400 stimulus checks for......

New York Attorney General Letitia James says Trump Supreme Court ruling won’t affect her tax probe

CNBC Real Estate
New York Attorney General Letitia James said Monday that her office is continuing to actively investigate the Trump Organization’s alleged inflation and deflation of property values to evade tax liability in the state and receive other financial benefits. James also said that the U.S. Supreme Court’s decision to allow the......

Tax season is upon us. Here’s what’s new for your 2020 return

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CNBC – For more and to sign up click here You might want to buckle up for this tax season. Whether due to pandemic-related relief, remote work or no work, individuals may find that preparing their 2020 taxes is a bigger challenge than usual. “I think it’s going to be......

Former President Trump faces serious criminal, civil investigations after White House

CNBC Real Estate
Donald Trump Andrew Harrer | Bloomberg | Getty Images Former President Donald Trump might have easily avoided conviction at his second impeachment trial — but he could find it a lot tougher to beat the several serious criminal and civil probes that he now faces. And at least one of......

This tax pitfall could affect millions due to Covid. Here’s what you need to know

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CNBC – For more and to sign up click here The 2020 tax season is officially underway, and the millions of Americans who collected unemployment benefits last year due to the coronavirus pandemic may be in for a surprise. That unemployment income is taxable, and if you didn’t have money......

School holidays are particularly challenging for working parents

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CNBC – For more and to sign up click here Presidents’ Day is meant to honor our country’s greatest leaders. This year, it also represents another day off from school when parents are already stretched to the limit, juggling work and family obligations amid the coronavirus pandemic. Nearly one year......

School holidays are particularly challenging for working parents

CNBC
CNBC – For more and to sign up click here Presidents’ Day is meant to honor our country’s greatest leaders. This year, it also represents another day off from school when parents are already stretched to the limit, juggling work and family obligations amid the coronavirus pandemic. Nearly one year......

A new child tax credit expansion could provide monthly income. Some question whether the help is too much or too little

CNBC
CNBC – For more and to sign up click here Halfpoint Images | Moment | Getty Images A Democratic proposal to expand the child tax credit for one year could give qualifying families up to $300 per child per month. But like all direct payments made by the government as......

How Covid-19 relief money could impact your taxes and what to do about it

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CNBC – For more and to sign up click here Tax-filing season is here, and you may be wondering how the pandemic will affect your return. Many filers have a lot more questions about their taxes this year than in the past. “For this specific tax season, it’s all about......

IRS says there are no plans to extend tax-filing deadline beyond April 15

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CNBC – For more and to sign up click here MartinPrescott | E+ | Getty Images Don’t count on having extra time to get your tax return filed this year like you did in 2020. The IRS said Thursday it has no plans to extend the standard filing deadline of......

New child tax credit proposals could give families more money than the $1,400 stimulus checks

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CNBC – For more and to sign up click here Many Americans are eager to see more money from the federal government in the form of $1,400 stimulus checks. But another part of Democrats’ $1.9 trillion coronavirus relief package, changes to the child tax credit, could actually give qualifying families......

Jeff Bezos would owe $2 billion a year in state taxes if Washington passes wealth tax

CNBC
CNBC – For more and to sign up click here Jeff Bezos would owe about $2 billion a year in state income taxes under Washington’s proposed wealth tax, according to legislators. As part of an effort to reduce inequality and offset the state’s lack of an income tax, Washington state......

Pandemic heats up state tax competition to attract businesses and residents

CNBC
CNBC – For more and to sign up click here sturti | E+ | Getty Images The tax competition between states to attract and keep businesses and residents has been ongoing for decades. The national migration pattern has generally trended from cold, high-tax northern states to warm, low-tax southern and......

How this child tax credit proposal could give some families monthly $300 checks

CNBC
CNBC – For more and to sign up click here President Joe Biden wants to get more money to certain American families by expanding the child tax credit for one year. For those who are eligible, that would mean extra cash could come their way via a refund check. Now......

Millions of Americans could miss out on free tax help due to Covid

CNBC
CNBC – For more and to sign up click here Before the pandemic, volunteers for Creighton University’s VITA program worked closely with clients to file their tax returns for free. Tom Purcell Creighton University’s Volunteer Income Tax Assistance, or VITA, program has a new look this year, thanks to the......

Half of all Americans will bet on Sunday’s Super Bowl

CNBC
CNBC – For more and to sign up click here Getting into the Super Bowl spirit usually entails some sort of wager. This year, however, gambling on the big game looks a lot different than it has in the past. Altogether, more than half of Americans said they’ll bet on......

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