At the weekend, G7 finance ministers reached a historic agreement regarding corporation tax, with all seven nations endorsing a minimum rate of 15%. The agreement comes after it emerged that an Irish subsidiary of Microsoft MSFT raked in $315 billion of profit last year but it paid no tax as it is “resident” in Bermuda
Taxes
Today’s column addresses questions about whether any spousal benefit amount can be paid in addition to a retirement benefit, whether foreign pensions and be received in addition to Social Security benefits and the maximum benefit a person can receive based on their work record. Larry Kotlikoff is a Professor of Economics at Boston University and
Negotiations over how to fund President Biden’s infrastructure plan have been complicated by the excesses of his first signature initiative, the American Rescue Plan Act. The law included $525 billion in assistance to state and local governments, many of which are now experiencing large budget surpluses. Republicans have proposed those funds be rescinded or repurposed
The drama that commenced just over a year ago when Kent Hovind and Paul John Hansen, as trustee for Creation Science Evangelism, filed a lawsuit in the US District Court Northern District of Florida has come to an unsatisfying though predictable conclusion. Judge T. Kent Wetherell, II approving the recommendation of Magistrate Michael J. Frank
The Internal Revenue Service announced today that it has started sending out special tax refunds due to an estimated 13 million taxpayers who paid taxes on unemployment benefits when they filed their 2020 tax returns this spring. This week more than 2.8 million of these refunds will go out, and the rest will follow in