Month: May 2020

The diversity of transactions that occur in the crypto ecosystem touch almost all parts of the U.S Internal Revenue Code. However, the Tax Code contains no reference to “virtual currency” or “crypto currency.” Instead, you will find myriad technical rules that can be hard to understand, or lead to the wrong answer when viewed in
0 Comments
On May 26, 2020, thought leaders Gary Boomer, Allan Koltin and Gary Shamis shared their insights on the new challenges facing accounting firms and their leaders, and the steps they should be taking to survive the pandemic and thrive in its aftermath. Watch their conversation above, and then join us for a four-part live series
0 Comments
This summer for the first time, taxpayers will be able to electronically file their Form 1040-X, “Amended U.S. Individual Income Tax Return.” Making the 1040-X an electronically filed form has been a goal of the IRS for a number of years, the agency said, adding that it’s also been an ongoing request from the tax
0 Comments
Was this page helpful to you? Thank You! The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work? Contribute to the Tax Foundation Share This Article! Let us know how we can better serve you!
0 Comments
CNBC’s Jim Cramer said Friday he’s concerned the stock market’s rally from its March lows may run out of steam unless Congress approves additional coronavirus relief measures.  “Without another package, I know it’s trillions of dollars, we’re just going to kind of sputter out,” Cramer said on “Squawk Box.” ”I get worried. It’s just too many people that
0 Comments
Note: Below is an excerpt of our full report. To see more, click the download link above. Introduction The digitalization of the economy has been a key focus of tax debates in recent years. Political debates have focused on the differences between taxing physical business operations and virtual operations. These debates have intersected with multiple layers of tax policy including
0 Comments
This week, the Ohio House of Representatives passed House Bill 194, which would legalize and tax sports betting in the state. The bill now awaits action in the Ohio Senate. If enacted, the bill would legalize brick-and-mortar facilities and online betting while imposing a 10 percent excise tax on adjusted revenue (revenue minus winnings). The
0 Comments
Martin Seay, president of the Financial Planning Association and chair of the Personal Financial Planning Program at Kansas State University. Financial Planning Association The coronavirus pandemic has forced businesses of all kinds to rethink how they work and interact with customers. Financial planning is no different.  Martin Seay, president of the Financial Planning Association, perhaps
0 Comments