Almost made 100; O Canada; check’s not in the mail; and other highlights of recent tax cases. Irvington, New Jersey: Tax preparer Nehemie Leon, of Roselle, New Jersey, has pleaded guilty to preparing false returns for clients. Leon was employed or self-employed as a preparer at a prep business. She admitted that she prepared fraudulent
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With more than 2 billion users at present, WhatsApp is a massively popular platform in many parts of the world. But it’s not just users who are leveraging this app to stay connected. A large number of scammers are frequenting it to cheat people. As a result, WhatsApp scams and instances of identity theft and
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Black Friday bargain hunters shop at a Walmart store in New Jersey on Nov. 26, 2021. Tayfun Coskun | Anadolu Agency | Getty Images More Americans are struggling financially just as the peak shopping season kicks into high gear. Yet shoppers will still shell out $1,455, on average, on holiday gifts — in line with
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On Election Day, a narrow majority of voters approved Massachusetts Question 1, also known as the Fair Share Amendment, which will transition the Commonwealth from a flat rate individual income tax to a graduated rate system. Effective January 1, 2023, the Bay State will begin taxing all individual income above $1 million at a 9 percent
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President Joe Biden delivers remarks on protecting Social Security and Medicare and lowering prescription drug costs in Hallandale Beach, Florida, on Nov. 1, 2022. Anadolu Agency | Anadolu Agency | Getty Images The Biden administration on Tuesday announced that it will extend the payment pause on federal student loans until after June or when it’s
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An old solution to a new question; misconceptions about making partner; keeping staff; and other highlights from our favorite tax bloggers. Numbers games Sovos (https://sovos.com/blog/?region=united-states): There are 600 reasons this’ll be a filing season like no other for your 1099-K clients. Five tips to ensure they’re ready, including pre-season communications and making sure your own
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Our 2023 State Business Tax Climate Index, released in October, considers five main tax categories: corporate taxes, individual income taxes, sales and excise taxes, property and wealth taxes, and unemployment insurance taxes. Today, we take a closer look at states’ rankings on the corporate tax component, which accounts for 21.1 percent of each state’s overall rank. The corporate tax
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Bank of New York Mellon’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street’s biggest banks. The raid began on Tuesday, people familiar with the process said. A spokesman for Cologne prosecutors said searches at two unidentified banks started
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Being your own boss comes with a variety of perks. But it also forces you to handle work typically taken care of by a human resource or finance department. For example, you must find your own healthcare plan and deduct taxes from your paycheck. And, when it comes to saving for retirement, it’s your responsibility to start a savings fund. Here are
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Samuel Corum | Getty Images News | Getty Images For supporters of congressional proposals to improve the U.S. retirement system, it’s about to be a nail-biting few weeks. Lawmakers are heading back to Washington next week to finish out the so-called lame-duck session — the legislative period between the midterm elections and the new Congress,
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A provision imposing a 1% excise tax on corporate stock buybacks in this year’s Inflation Reduction Act is likely to have an impact on the use of special purpose acquisition companies as a way of going public after the number of SPACs plunged dramatically this past year. SPAC activity declined in the third quarter of
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eBay is a popular selling platform, and there are plenty of great things to buy. However, eBay buyers and sellers should be vigilant on the platform as there are opportunities for fraud that scammers can take advantage of. Can You Get Scammed by Using eBay? Unfortunately, like many of the platforms available on the Internet,
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Running a business or a side hustle isn’t for the faint of heart. Whether you’re just starting out or you’ve been doing this for a while now, the self-employed tax jargon can be a little overwhelming. Let’s take a quick refresher with a helpful glossary of common business finance and tax terms you might run
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