Skip to main content

Digital economy tax can boost government...

PETALING JAYA: Apart from the Goods and Services Tax (GST), imposing a minimum tax rate of 15% on the digital economy will help boost government revenue streams, tax experts say . The Department of Finance recently said in a pre-budget statement that discussions are underway with the Organization for Economic Co-operation and Development (OECD) on […]

Biden ally pushes big oil surcharge to e...

Wyden, an Oregon Democrat who chairs the Senate Finance Committee, is imposing a 21% surtax on excess profits from oil and gas companies that generate more than $1 billion in revenue, according to a spokesperson for the senator. . “Our broken tax code works for big oil companies, not for American families,” Wyden told CNN […]

Fuzzy math in the house tax and expense ...

The leadership of the Oklahoma House of Representatives said the chamber will introduce several tax proposals this week in response to Gov. Kevin Stitt’s call for large-scale, growth-friendly tax cuts, but the indicated passage of tax cuts relies in part on cutting the governor’s office budget, citing the state’s requirement for a balanced budget. This […]

Get help paying your property tax

How to register The deadline to apply each year is June 1. If a person is the sole owner of a principal residence, an application is required. If a married couple is the sole owner of a principal residence, only one application is required. If multiple unmarried owners are claiming tax relief for the same […]

R&D tax relief and bipartisan support fo

First, the “what”: what are tax breaks or tax credits for research and development (R&D)? Glad you asked. At the highest level, it is a list of tax incentives designed to attract companies with high R&D spending in one country or another. Since 1954, Section 174 and his report regulations allowed companies to expense qualified […]

ISME calls for radical tax reform

Business lobby group Isme has called on the government to undertake a comprehensive tax reform package in the next budget. In its pre-budget submission, Isme urged Finance Minister Paschal Donohue to include a 3pc USC solidarity levy on all PAYE workers who earn more than €100,000 a year. The proposed reform would also include reducing […]

Ask SAM: How can I find out the status o...

Q: When will the IRS process the backlog in the tax processing center? My return for 2021 was delivered to the IRS in Kanas on February 23. (I paid for the post office tracking mail.) It still hasn’t been connected. I check the website weekly. In addition, it is impossible to have someone on the […]

How NRE account interest income is taxed

Is it true that NRE income is not taxable in India but only in the country of residence? — Name masked on request Interest income from non-resident (external) or NRE (savings and term deposits) accounts earned by an individual is exempt from tax in India, provided the individual qualifies as a “resident outside India”. India” […]

They were battered by covid. At least p...

An automatic tax hike is about to hit New Jersey businesses, just as most economists are predicting a slowdown, and inflation recently hit a 40-year high of 8.6%: Yikes. A time like this, when a recession is expected and some businesses have just been brutalized by covid, is certainly not the ideal time for a […]

Ensuring simple fiscal measures | The s...

Simplification of tax administration and development of appropriate infrastructure are necessary to attract more foreign direct investment (FDI) to Bangladesh, according to panellists at a roundtable on FDI prospects for the proposed national budget for the financial year 2022-2023. The discussion was co-hosted by the Institute of Chartered Accountants Bangladesh (ICAB) and the Japan-Bangladesh Chamber […]

Tipalti adds new features to its account...

Tipaltia software company specializing in accounts payable and global partner payments workflows, announced new features for its accounts payable automation solution that improve its communication and documentation capabilities. The two new features are called Bill Talk and Bill Docs. Bill Talk will allow customers to send messages via chats with approvers, tag team members in […]

The best tax relief professionals can he...

Feeling overwhelmed with your taxes this year? Not sure what deductions you can claim or what forms to fill out? Relax, the tax refund professionals are there to help you! By working with a professional, you can be assured that your taxes will be done correctly and that you will get the best return possible. […]

Live updates on finances and payments in...

A Fed soft landing for jobs means something else has to crack; so far this is not the case The healthy finances of US banks, businesses and households, heralded during the pandemic by Federal Reserve officials as a source of resilience, may pose an obstacle to fighting inflation as central bankers raise interest rates in […]

In lobbying probe, ethics commission spo...

ALBANY — In early 2021, a lobby group bought more than $850,000 worth of television ads airing across New York City encouraging residents to contact their state senators and oppose tax increases. Deep-pocketed lobby groups typically must disclose donors providing more than $2,500 — under a state law designed to expose those who seek to […]

When you are forced to cash out in a bea...

Financial planners warn investors against attempts to time the market. It’s notoriously difficult to guess exactly when sentiment on Wall Street will reverse – even professionals are likely to be wrong. Yet that is essentially what countless retirees are being forced to do these days – playing chicken with a volatile market rocked by 40-year-old […]

Ardern’s Cow Tax Will Destroy New Zealan

After Friday’s joint press conference between Prime Minister Anthony Albanese and New Zealand Prime Minister Jacinda Ardern, it is painfully clear that wherever New Zealand goes, Australia will meekly follow. In this case, national agricultural industries are about to be sacrificed on the altar of “climate change” for – as far as we know – […]

Pros on the Move – June 2022

Professionals in Motion is a roundup of recent staffing announcements and promotions in and around the tax and accounting space. Carrie Summerlin Named New Director of Growth and Innovation at FICPA The Florida Institute of Certified Public Accountants (FICPA) recently announced that Carrie Summerlin has been named the Institute’s new Chief Growth and Innovation Officer. […]

IMF still concerned about fuel subsidies...

Pakistan’s finance minister said on Saturday that the International Monetary Fund (IMF) had expressed concern over the country’s recently unveiled budget, but the government is confident it can make changes to satisfy the lender. Pakistan is seeking a staff-level deal with the IMF this month, Miftah Ismail said. He on Friday unveiled a 9.5 trillion […]

IMF still worried about Pakistani budget...

IMF concerns over fuel subsidies, current account and direct taxes Adjustments can be made to integrate the IMF – minister Pakistan hopes for staff-level deal with IMF this month ISLAMABAD, June 11 (Reuters) – Pakistan’s finance minister said on Saturday the International Monetary Fund (IMF) had expressed concern over the country’s recently unveiled budget, but […]

Sales tax increase fails November vote

SAN DIEGO (KGTV) — A proposed tax increase to support SANDAG’s massive $163 billion regional transportation plan is hitting a snag. The effort to get it on the November ballot failed to get enough signatures. “The purpose of this ballot initiative was to increase the rate of sales tax throughout San Diego County so that […]

IDA Tax Breaks for Big Business Hurting ...

Over the past decade, approximately 1.5 million New Yorkers have fled the state. In just 12 months, from July 2020 to July 2021, 350,000 did. On Long Island, the number of people departing elsewhere in the United States, relative to the number of arrivals, has increased each year in both counties since 2012. A Zogby […]

Missed the RTI filing last year? You ma...

Missed the RTI filing last year? You may be required to pay higher TDS this fiscal year Photo: BCCL In case you haven’t filed ITR for fiscal year 2020-21 (Assessment year 2021-22), you may end up paying higher TDS on certain income earned in the current fiscal year (2022-23). In the Union Budget, the Government […]

Income tax cuts and rebates at center of...

South Carolina Senate Finance Committee Chairman Harvey Peeler, R-Gaffney, left, and House Ways and Means Chairman Gary Simrill, R-Rock Hill, center, talk to reporters, while as House Speaker Murrell Smith, R-Sumter, right, listens after a conference committee approved South Carolina’s $13.8 billion budget for next year on June 10, 2022 in Columbia, South Carolina (AP […]

Minnesota COVID-19 Frontline Workers Com...

Eligible Minnesota workers can now apply for a bonus through the Minnesota Department of Labor and Industry (DOLI) under the COVID-19 Frontline Workers Compensation Act. Below is an overview of what employers need to know about this new law, including what it requires of them. What is the COVID-19 Frontline Worker Compensation Act? Minnesota’s COVID-19 […]

City Council Passes First Reading Budget...

Elizabethton City Council has unanimously approved at first reading the 2022-23 budget and property tax rate for the 2022 tax year. The tax rate will remain at its current rate of $1.56 which was set as the certified tax rate at the reassessment for the 2021 taxation year. The budget has been prepared on an […]

New Zealand proposes cow and sheep burpi...

Placeholder while loading article actions New Zealand has more sheep than people, by a factor of about five. Now these sheep and other animals could be taxed for their incessant belching – a major source of greenhouse gases for the Pacific island nation. The government on Wednesday announced a draft plan to charge farmers for […]

Measure F Fails, Leaving County Sales Ta...

Measure F, the countywide sales tax measure, faced strong opposition when voters headed to the polls on Tuesday, and that played out with the measure’s failure by a significant margin. With 100% of precincts reporting Wednesday, the measure garnered 7,117 votes against, for 62.39%, and 4,290 votes for 37.61%. The measure was intended to generate […]

Locality Bank announces partnership with...

FORT LAUDERDALE, Florida., June 9, 2022 /PRNewswire/ — locality banka digital-focused community bank that launched January 12, 2022, announced its partnership with Hurdlr, a leading expense, billing and accounting management API. The integration on the Bank’s mobile application should be deployed in 30 to 45 days. Using the Hurdlr API integration with Locality Bank’s platform […]

Commission split OK budget with 3.3 cent...

SHORES OF PINE KNOLL – City commissioners voted 3-2 Wednesday night to approve a $5.09 million general fund budget for 2022-23 that increases the property tax rate by 3.3 cents, to 24 cents per $100 of assessed value. The council met at town hall and online, with audio only, via GoToWebinar. The split vote came […]

D’Augusta: Offering tax relief to Mainer

If you recall, last month I began my series of columns on the various investments the Committee on Appropriation and Financial Affairs and the Legislature have made in Maine. For education, we created the Education Rainy Day Fund, made two years of community college education free, and froze tuition at the University of Maine. In […]

Dividend declaration: tax regime and imp...

VUKILE REAL ESTATE FUND LIMITED (Incorporated in the Republic of South Africa) (registration number 2002/027194/06) JSE share code: VKE NSX share code: VKN ISIN: ZAE000180865 Bond company code: VKEI (Granted REIT status with the JSE) (“Vukile” Where “the company“) DIVIDEND DECLARATION: TAX TREATMENT AND SIGNIFICANT DATES Notice is hereby given that a gross cash dividend […]

White House issues new warning in fight ...

Hope your Wednesday is going well. Congress spent much of the day debating gun violence, though the prospects for substantial bipartisan agreement on the issue are uncertain at best.. Hopefully lawmakers can do something meaningful. Here’s what else is going on. White House issues new Covid funding warning A White House official said Wednesday that […]

GOP, Democrats divided over pending dies...

A tank truck parked at Tuxis Ohr’s Fuel in Meriden Credit: Hugh McQuaid/CTNewsJunkie As Connecticut fuel suppliers and trucking companies braced this week for a state diesel tax adjustment that is expected to take effect next month, Republicans have redoubled their calls to avert a increase which they believe would exacerbate inflation. The state passed […]

Can the global minimum tax cross the fin...

Is the Global Minimum Tax About to Die on the Vine? The proposed agreement would introduce a uniform minimum tax rate on corporate profits. But it has been blocked in the United States and the European Union after Poland vetoed an EU deal to implement the measure at the end of 2023. The vote in […]

What You Need to Know About These IRS No...

Many taxpayers who claimed the recovery rebate credit when they filed their 2021 tax returns find they might not be eligible for the extra money after all. And if they qualify, they will still have to deal with the IRS to get the extra money. The Internal Revenue Service is sending notices to filers who […]

Update on Dutch rules on the classificat...

On June 3, 2022, the Dutch State Secretary for Finance presented the fiscal policy and the implementation program for the coming years. In the agenda, he sets out the ambitions in terms of taxation and their implementation by the tax administration. An important ambition is the modernization of the tax system. For example, the tax […]

Hoffman succeeds in Republican race for ...

WAVERLY — Adam Hoffman, the mayor of Waverly, secured the Republican nomination in a two-way race for Bremer County Treasurer, according to unofficial primary election results on Tuesday. Hoffman, also an advanced funeral planner with Abels Funeral and Cremation Service at the Grundy Center for the past nine years, received 53.55% of the vote. His […]

This tax credit could give hundreds back...

RICHMOND, Va. (WRIC) – A new tax credit is expected to put hundreds of dollars back in the pockets of some Virginians. Legislators included a partially refundable earned income tax credit (EITC) in the state budget compromise that Governor Glenn Youngkin is considering. The proposal was not part of the tax cuts package backed by […]

Senate panel approves tax credits and gr...

Lawmakers on the Senate Health Committee on Monday unanimously approved bills that would establish child care tax credits, expand child care subsidies to more families and establish subsidy programs to boost enrollment in early childhood education. The moves come as New Jersey continues to struggle amid a shortage of child care staff and as its […]

Poultry industry seeks sales tax exempt ...

LAHORE: The Pakistan Poultry Association (PPA) has called on the government to remove all customs duties and sales taxes on the importation of raw materials, chemicals and machinery used in primary feed production. The association demanded that the government scrap sales tax on grain, meat, eggs, milk, fish, vegetables, fruit and edible oil. “Government should […]

Today in Crypto: Lithuania Establishes L...

Lithuania is considering creating its own crypto licensing regime as European Union laws may not arrive in time to protect things, CoinDesk wrote on Monday, June 6. Brussels law, the Markets in Crypto Assets Regulation (MiCA), may not be ready until 2025, so Lithuania’s plan is to do its “homework” beforehand, according to Mindaugas Liutvinskas, […]

Center working on the GST Dispute Resolu...

The Department of Finance is working on a detailed mechanism that can resolve Goods and Services Tax (GST) disputes raised by states while avoiding tax system distortions. The mechanism could be discussed with the States at the next meeting of the GST Council, scheduled for June. The plan includes a Dispute Redressal Bench which will […]

Chester County accountant, on probation,...

PHILADELPHIA — A Chester County man who worked as an accountant has been convicted of tax evasion and failing to file tax returns after a trial in U.S. District Court in Philadelphia. Michael Goldner, 51, of Malvern, has been charged by the United States Attorney’s Office with charges stemming from his alleged scheme to use […]

Businesses must remain vigilant as state...

Leadership in a high-growth technology company offers many opportunities to learn, grow, and change the status quo. It also provides key insights into budget and business trends that executives need to prioritize. Regulatory compliance is an ongoing challenge for organizations; it is also a problem that does not go away. This year, a pivotal act […]

Diokno won’t cut spending to solve debt

The Marcos administration has no plans to cut public spending to temper the country’s growing debt load, the new head of the Department of Finance (DOF) said Monday, June 6. Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, who is President-elect Ferdinand R. Marcos Jr.’s choice for the finance post, said the next administration is […]

Proposed City Budget Maintains Tax Rates...

The proposed next fiscal year budget for the City of Morganton shows only two rate increases, with tax rates remaining the same. City Manager Sally Sandy will present her proposed $82.1 million budget for 2022-23 at Monday night’s city council meeting, with council set to schedule a special meeting for June 20 to vote on […]

How do I check the status of my tax retu...

EEvery year, the IRS claims to hold about $1.5 billion in refunds for those who didn’t file. After July 15, 2023, you will no longer be able to claim this rebate for federal returns filed in 2019. Although you can no longer file 2019 returns electronically, if you need to claim your refund, prepare and […]

The government is urged to introduce a f...

ISLAMABAD, (UrduPoint/Pakistan Point News – June 5, 2022): Jamshaid Akhtar Sheikh, Acting President of the Islamabad Chamber of Commerce and Industry (ICCI), on Sunday urged the government to introduce a fixed tax regime for small traders in the next budget which would help broaden the tax base and improve the country’s tax revenue. He said […]

Public hearing on county budget, with ta...

A declining population in Sampson County has led to a shrinking tax base and anticipated revenue, which, combined with inflation and supply chain issues, has left the county at a serious crossroads. The county administration said the seriousness of the situation meant a proposed 5-cent tax hike in the 2022-23 budget to maintain services and […]

I’m a tax accountant – 10 MILLION people

MILLIONS of Americans who are still waiting for Recovery Rebate Credit stimulus checks must act quickly to claim them. A recent report shows that 10 million people are still waiting for their stimulus checks. 1 Those who missed their stimulus payment can still get it The Treasury Inspector General for Tax Administration produced the report, […]

Nine ways to boost your tax return

The three golden rules of tax deductions apply: you must keep a receipt, you must have incurred the cost yourself (i.e. not been reimbursed by your employer), and the purchase must be directly linked to income generation. 2. Prepare your car’s mileage It’s a common tax myth that anyone can get away with claiming 5,000 […]

LeBron James becomes NBA’s first active

LeBron James has officially become a billionaire, according to Forbes. This makes James the first active NBA player to reach the milestone and the second NBA player to achieve billionaire status, joining retired basketball star Michael Jordan. James, a small forward for the Los Angeles Lakers, is the highest-paid player in the NBA, earning $121 […]

ACT welcomes tax rollback | Exclusive N...

Saturday, June 4, 2022, 4:52 p.m.Press release: ACT New Zealand “The ACT party welcomes the government’s pushback on changes to the tax system,” said Damien Smith, ACT’s associate finance spokesman. “The government claimed that people would use commercial structures to avoid its new 39% tax rate and proposed changes to the tax system. Now he […]

Violation of RBI notification prohibitin...

The Bangalore Bank of Income Tax Appeal Tribunal (ITAT) composed of BR Baskaran (accounting member) argued that violation of RBI notice prohibiting deposit of demonetized notes does not attract bill due to unexplained cash credits. The appellant/appraiser is a primary agricultural credit cooperative society providing credit facilities to its members. The AO noticed that the […]

The tax office will be closed from June ...

The Hale County Tax Collector’s Office will be closed June 13-17. Employees will be in training, Roland Nash said. Nash, the county’s tax collector, said the group will undergo training in Amarillo on several topics he says will improve services for the county. They will cover title fraud training, record keeping, DMV topics, and state […]

Ron DeSantis punishes Tampa Bay Rays for...

Florida Governor Ron DeSantis has worked for months to build a reputation as a right-wing totalitarian. The Republican’s proposal to develop a responsive civilian military force, his demand that GOP lawmakers redraw a legislative map to bolster his political power, and his propensity to punish companies that go against his right-wing rhetoric have all built […]

Keep records for property donation tax b...

A taxpayer may benefit from an enhanced deduction by donating appreciated property to charity; however, in a recent Tax Court case, Albrech, TC Memo 2022-53, 5/25/22, the Court ruled that a person must meet strict justification requirements to obtain this relief. tax. Basic premise: If you donate property you acquired within the last year, you […]

Think inflation is bad now? Imagine if ...

Yes, it can get worse, much worse. Washington’s deficit spending has fueled punitive inflation, but so-called “progressives” in Congress remain fully committed to increasing federal spending and debt even further. Vermont Senator Bernie Sanders recently chaired a Senate Budget Committee hearing on its “Medicare for All” proposal. Like its previous version, the Senate bill would […]

Governor Beshear Announces Action to Fre...

FILE – Kentucky Governor Andy Beshear speaks during the opening day of the special session of the Kentucky State Legislature in Frankfort, Ky., September 7, 2021. Governor Andy Beshear took action on Thursday, June 2, 2022 to freeze Kentucky’s gasoline tax, an emergency measure intended to prevent an impending rate increase as consumers battle soaring […]

Do you want to control municipal spendin...

Last month, the city of Denton, Texas became the 100th municipality in the nation to pass a resolution in support of Medicare For All. Such resolutions are part of a growing national movement to build support for legislation, popularized by Vermont Senator Bernie Sanders, that would create a universal, federally funded, single-payer health care system […]

Social Security won’t be able to pay ful

That’s when Social Security’s combined trust funds — which help support payments for the elderly, survivors and the disabled — are expected to run out. This is a year later than directors had expected in 2021, thanks to the country’s economy, jobs and incomes recovering from the Covid-19-fueled downturn stronger and faster than expected. Last […]

Tax Fraud Blotter: Mistakes Past and Pre...

Russian offensive; caught by the boss; the 30% solution; and other highlights of recent tax cases. Lake Worth, Florida: Tax preparer Kasali Opabola Jr., 41, who failed to report his business income to the IRS, was sentenced to 18 months in prison and ordered to pay more than $1.2 million in compensation. Opabola, Sole Principal […]

OPINION: Bills Signed, Governor Edwards ...

Today Governor John Bel Edwards announced that he has signed bills into law and has vetoed bills, in whole or in part, using his power of veto. Governor Edwards signed the following bills: ACT 94—HB 5 Provides for group insurance costs for certain court clerks. ACT 95—HB 10 Provides qualifications for participation in the Employee […]

South Carolina schools lost $2 billion i...

The South Carolina Education Association is calling on county governments to include school boards in discussions about economic development going forward. SOUTH CAROLINA, USA – A new report from Good Jobs First has found that schools in South Carolina have lost $2.2 billion over the past five years, which was instead spent on tax breaks […]

Some states are offering sales tax holid...

The economy may be cooling, but retailers are hoping back-to-school shopping will stay hot. Despite the pandemic, back-to-school expenses have increased. According to the National Retail Federation’s annual survey, families with children in elementary through high school are expected to spend $37.1 billion last year, up from $33.9 billion in 2020. That marks a record […]

Wesfarmers supports national tax review

He supports Prime Minister Anthony Albanese’s idea of ​​a jobs summit, but says there are links between wage growth and tax reform. “There would be a very simple way to ensure strong wage growth, and that would be by getting rid of payroll taxes,” he says. “We pay a 5-6% payroll tax to state governments. […]

Safe Harbor CPAs, Top International Tax ...

Safe Harbor CPAs is proud to announce new content updates to its website to assist users seeking assistance with international tax matters. Taxation is quite complex, but the addition of international tax matters adds to the need for a top notch CPA firm with deep tax experience. —Chun Wong SAN FRANCISCO, CALIFORNIA, UNITED STATES, June […]

Charities Act changes administration and...

Big charities will have to be more transparent about their funding, after a government review recommended changes to the law. Photo: RNZ / Samuel Rillstone The changes will require charities, which are not required to pay tax, to account for any large sums of money, assets and other resources accumulated if they have operating expenses […]

Here’s the average 401(k) balance of Ame

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We earn commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. If you’re in your 30s, retirement may still seem like something you don’t have to think […]

Include taxpayers in proposed UPS, civil...

Civil society representatives demanded direct inclusion of taxpayers in the proposed universal pension scheme (UPS), which will be announced in the next national budget for the financial year 2022-23. They also recommended that the government take their advice to design an effective and sustainable pension plan. The seminar was organized by the Coast Foundation at […]

Ryan named to Canada’s Best Workplaces t

TORONTO, June 01, 2022–(BUSINESS WIRE)–Ryan, a leading global tax services and software provider, was recently named to the 2022 list of Canada’s Best Workplaces to Give Back. Ryan received this recognition after a thorough and independent analysis conducted by Great Place to Work®. This is the fourth consecutive year that the firm has appeared on […]

US Grants Adeosun Foundation Nonprofit a...

Dash Me Foundation, an organization founded by former Nigerian Finance Minister, Kemi Adeosun, has announced that it has been granted tax-exempt nonprofit status by the US government. This is contained in a press release issued on Tuesday. The Foundation has declared that it has received its new status under section 501(c)(3) of the US Internal […]

How to be an effective fiduciary

Acting as a fiduciary requires knowledge of a wide range of topics Getty There is a saying that the two best days in a boat owner’s life are the day he buys his boat and the day he sells it. A similar notion applies to being a director – it’s an honor to be appointed, […]