Jeffrey Coolidge | Photodisc | Getty Images As the Democrats’ spending plan moves closer to a House vote, one of the more controversial provisions — nearly $80 billion in IRS funding, with $45.6 billion for “enforcement” — has raised questions about who the agency may target for audits. IRS Commissioner Charles Rettig said these resources
Month: August 2022
Over the last few years, concerns have been raised that the existing international tax system does not properly capture the digitalization of the economy. Under current international tax rules, multinationals generally pay corporate income tax where production occurs rather than where consumers or, specifically for the digital sector, users are located. However, some argue that
Senate Majority Leader Chuck Schumer, D-N.Y., discusses the Inflation Reduction Act on Aug. 7, 2022 in Washington, D.C. Kent Nishimura | Los Angeles Times | Getty Images Senate Democrats curtailed a tax break for certain pass-through businesses as part of the Inflation Reduction Act passed Sunday. A pass-through or flow-through business is one that reports
Serena Williams of the US waves as she walks off the court after losing against Japan’s Naomi Osaka during their women’s singles semi-final match on day eleven of the Australian Open tennis tournament in Melbourne on February 18, 2021. William West | AFP | Getty Images Tennis legend Serena Williams announced her retirement in a
In this article SAVE Spirit Airlines planes on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines reported a second-quarter loss as strong travel demand and higher fares weren’t enough to overcome a surge in costs. Spirit reported results less than
A view of the Norwegian Encore cruise ship during its inaugural sailing from PortMiami, which took place from Nov. 21-24, 2019. Orlando Sentinel | Tribune News Service | Getty Images Check out the companies making headlines in midday trading. Norwegian Cruise Line — Shares sank nearly 12% on Tuesday after the company reported second-quarter results
In 2012, at 34 years old, I left my investment banking job and retired early with a net worth of $3 million. Currently, I live in San Francisco with my wife and two young kids. But since 1977, I’ve regularly traveled back and forth to Hawaii, where my parents have been retired for 15 years.
In this article WFC Gzorgz | Istock | Getty Images “It was the best of times, it was the worst of times.” With those classic words, author Charles Dickens famously opened his historical novel “A Tale of Two Cities.” He could easily have been describing the stock market. A new Wells Fargo analysis looked at
In this article BA An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images Boeing will resume deliveries of its 787 Dreamliners in the coming days, the Federal Aviation Administration said Monday. Deliveries of the wide-body jetliners have
In this photo illustration a silhouette of a man holding a medical syringe and a vial seen displayed in front of the Novavax logo on a screen. Cezary Kowalski | Lightrocket | Getty Images Novavax deeply cut its full year revenue guidance Monday, with no new Covid vaccine sales expected for 2022 in the U.S.
A filing Monday showed Chinese internet tech giant Alibaba is another step closer to letting mainland Chinese investors trade its shares directly. Kuang Da | Jiemian News | Visual China Group | Getty Images BEIJING — Chinese e-commerce giant Alibaba is making Hong Kong a “primary” listing for its shares, paving the way for mainland
Federal student loan payments, most of which were paused during the pandemic, are set to resume in September. And yet, 93% borrowers say they are not financially prepared to restart payments, according to a survey by the Student Debt Crisis Center and Savi. With no break in sight for rising prices, many Americans are simply stretched too
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