We’re not in the midst of a global war — traditionally one of the greatest drivers of tax innovation — but some recent rhetoric surrounding international tax reform has adopted a bit of that flavor. In the heady, early days of the OECD’s base erosion and profit-shifting 2.0 project, the constant message streaming from the OECD’s Paris
Taxes
Topline As government actions rock the cryptocurrency markets, IRS Commissioner Charles Rettig urged senators Tuesday to provide the agency with the congressional authority to require more reporting on cryptocurrency transactions and holders to increase tax collections, suggesting recent proposals by President Joe Biden’s administration could only be the beginning of heightened U.S. oversight of cryptocurrencies.
It appears that the White House is planning to make the effective date for its proposed tax increase on long-term capital gains retroactive to April 2021. If this were to happen, it may not only seem unfair, but it is also bad tax policy. President Biden’s American Families Plan proposes increasing the tax rate on
Nearly all of President Biden’s proposed tax increases would be borne by the highest income 1 percent of households—those making about $800,000 or more—according to a new analysis by the Tax Policy Center. At the same time, Biden would cut taxes for many low- and moderate-income households and reduce them substantially for those with children.
Today’s column addresses questions about when spousal benefits can become available based on a spouse’s Social Security record, whether a foreign pension will reduce divorced spousal benefits and when a non-covered pension may cause Social Security benefits to be reduced. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president