- 9 years ago Sticky: Welcome to t/tax! Come and introduce yourself.
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Analysis+2 +1
Is the profit from cryptocurrencies taxable?- Detailed explanation
If you own or trade cryptocurrencies, you'll eventually have to figure out how to pay taxes on them.
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+4 +1
Nations agree to 15% minimum corporate tax rate
The historic deal is designed to make big corporations pay a fairer share of tax around the world.
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+19 +1
Amazon boss Bezos won’t pay taxes ‘out of kindness’, says Boris Johnson
Amazon boss Jeff Bezos is not going to pay his taxes “as an act of kindness” and it is up to governments to make sure that big business operators like him pay what is due, Boris Johnson has said. The prime minister confronted the world’s richest man over Amazon’s tax bill when the pair met on the margins of the United Nations general assembly in New York on Monday.
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+17 +1
The United States Will Spend $3.5 Trillion Without Batting an Eye—as Long as It’s on War.
A new report from Brown University's Costs of War project is a reminder that cost concerns around the reconciliation bill just don't add up.
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+17 +1
61% of Americans paid no federal income taxes in 2020, Tax Policy Center says
More than 100 million U.S. households, or 61% of all taxpayers, paid no federal income taxes last year, according to a new report. The pandemic and federal stimulus led to a huge spike in the number of Americans who either owed no federal income tax or received tax credits from the government. According to the Urban-Brookings Tax Policy Center, 107 million households owed no income taxes in 2020, up from 76 million — or 44% of all taxpayers — in 2019.
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+14 +1
Keeping tax low for rich does not boost economy
Major reforms reducing taxes on the rich lead to higher income inequality but do not have any significant effect on economic growth or unemployment, according to new research by LSE and King’s College London.
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+15 +1
Richest Americans pay almost no income taxes, report finds
A report from ProPublica illustrated how wealthy people in the U.S. are able to avoid income taxes by keeping the bulk of their wealth in investments that have little or no taxes.
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+25 +1
Billionaire defenders say their tax avoidance is perfectly legal. But is it?
A presumption of innocence is never afforded to poor people accused of petty theft. Yet billionaires benefit from it every day when it comes to taxes
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+4 +1
Private Inequity: How a Powerful Industry Conquered the Tax System
The I.R.S. almost never audits private equity firms, even as whistle-blowers have filed claims alleging illegal tax avoidance.
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+3 +1
G7: Rich nations back deal to tax multinationals
The G7 group of advanced economies has reached a "historic" deal on taxing multinational companies. Finance ministers meeting in London agreed to battle tax avoidance through measures to make companies pay in the countries where they do business. They also agreed in principle to a global minimum corporate tax rate of 15% to avoid countries undercutting each other.
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+16 +1
Tax codes that reward traditional families might increase income inequality
Tax codes that offer extra benefits to breadwinners with dependents negatively affect countries ability to reduce income inequality across family types and could exacerbate existing gender inequality by discouraging secondary earners from labor-market participation, according to new research.
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+13 +1
Biden Administration to Hire Additional 87,000 IRS Agents to Crack Down on Wealthy Tax Dodgers
Every year, billions of dollars in tax income are lost due to a variety of circumstances. To combat this and ensure equitable tax collection, the Biden administration is planning to recruit 87,000 extra IRS agents. Without a doubt, this is associated with the effort to collect adequate taxes from individuals and businesses with larger earnings… Continue reading Biden Administration to Hire Additional 87,000 IRS Agents to Crack Down on Wealthy Tax Dodgers
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How-to+1 +1
What Is A Pfic? Passive Foreign Investment Companies
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+11 +1
Top finance, tech firms mulling NY exodus over proposed tax hike
Top New York firms that toughed it out through the pandemic are now considering packing their bags over $7 billion in proposed new state taxes. At least 20 finance and tech companies are already poised to leave for sunny, low-tax Florida, said Kathyrn Wylde, CEO of the business-backed Partnership for New York City.
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+4 +1
Check your paperwork or you may wind up with an $8M tax bill like this barista
This spring is bringing a tax season more complicated than usual, with pandemic benefits and payments adding to the usual paperwork. But for Alina Bukatova, it might never be as complicated as 2018, when all the money in her bank accounts was seized after the Canada Revenue Agency thought she owed more than $8 million in taxes.
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+18 +1
Biden planning first major tax hike in almost 30 years: report
President Biden is reportedly planning the first major hike in federal taxes in almost 30 years to fund the economic program set to follow the recently approved $1.9 trillion pandemic stimulus package. Unidentified sources told Bloomberg that the increases will reflect the promises Biden made during his 2020 campaign.
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+22 +1
Bitcoin tax Evader gets a year in Prison - the first in Japan
The cryptocurrency market has gained widespread popularity and regulators in many jurisdictions have imposed taxation policies. Usually, Tax evaders face heavy penalties, but Japanese authorities have taken things up a notch and have sentenced one such defaulter to serve a year in prison, alongside a hefty fine of $200,000.
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+14 +1
‘It just sucks’: America’s jobless owe thousands of dollars in taxes on their unemployment
Many unemployed Americans are learning that their unemployment benefits are taxable as they file their 2020 returns.
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+17 +1
Australian News Sites Shocked & Upset To Learn They Don't Need To Rely On Facebook For Traffic!
I am still perplexed and confounded at how many people seem to think that Facebook is the one at fault for blocking links to news in Australia. Again, the law (that was about to be approved by the Australian Parliament despite Facebook warning them...
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+4 +1
Global tax on tech giants now 'highly likely,' German minister says after Yellen call
Silicon Valley tech firms look increasingly likely to face new global tax laws this year, as the change in the White House fuels optimism among European officials that an agreement will soon be reached.