Taxes

As the debt limit drama plays out, Americans might be wondering if there is a better way to prevent defaulting on US debts and perhaps inducing a global recession or depression. President Biden, along with many commentators, has speculated that a president can bypass Congress by using the 14th Amendment to the Constitution. But we

House Speaker Kevin McCarthy (R-CA) and President Joe Biden reached an agreement over the weekend to limit spending for a small fraction of the federal government for a couple of years. But it would not come close to materially reducing annual deficits or slowing the growth of the national debt, which the Congressional Budget Office

Former IRS Commissioner David Kautter, now with RSM, discusses the recently released report on the feasibility of an IRS-run direct file program. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: cutting out the middleman.

If you are an American taxpayer who lives and works out of the U.S., you have about two more weeks to file your 2022 federal income tax return. Those taxpayers, including U.S. citizens and residents abroad, face a due date of Thursday, June 15. June 15 Deadline The June 15 filing deadline applies to taxpayers

A German lawyer widely regarded as the mastermind of a massive tax fraud scheme has been sentenced to an additional eight years and three months in jail. Hanno Berger had already received an eight-year jail sentence last December for his role in the cum-ex scheme, which has been called “the biggest tax theft in the