A Biden proposal to change the tax deduction for contributions to a tax credit could have serious implications.
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Tax Pro Today
March 4, 2021
Upcoming Events March 4, 2021
A tax switch on IRAs and 401(k)s could hurt high earners
By Roger Russell      3 min read
A Biden proposal to change the tax deduction for contributions to a tax credit could have serious implications.
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Biden asks for more time on decision to release Trump taxes
By David Yaffe-Bellany     2 min read
The Biden administration said it needed more time to decide whether to turn over former president Donald Trump’s tax returns to Congress.
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Yellen names EY’s Murillo to top international tax post
By Saleha Mohsin     2 min read
Treasury Secretary Janet Yellen added an international tax policy expert to her staff as the U.S. reverses a Trump-era stance over digital taxation of technology companies.
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New York warns hedge funds: Pay taxes ‘like everybody else’
By Katherine Burton     2 min read
Thomas Sandell and Sandell Asset Management are paying $105 million to New York, the biggest fine of its kind in the state.
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Warren backs more audits for rich as part of wealth tax plan
By Steven T. Dennis and Kevin Cirilli     3 min read
Senator Elizabeth Warren said IRS funding should be bolstered so the richest Americans get audited about once every three years as part of her proposed 2 percent annual tax on wealth in excess of $50 million.
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In the blogs: Turning over a new relief
By Jeff Stimpson     3 min read
To delay or not delay; three questions about a digital tax; nonprofits and theft; and other highlights from our favorite tax bloggers.
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The risks of tax season
By Roger Russell     5 min read
Practitioners face malpractice issues right from the start of filing, and this year may be even worse than usual.
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IRS offers guidance on employee retention credit and PPP eligibility
By Michael Cohn     6 min read
The Internal Revenue Service released guidance Monday for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program.
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IRS faces delays, risks for tax season amid pandemic
By Michael Cohn     3 min read
The Internal Revenue Service needs to take action to avoid processing delays this filing season due to the COVID-19 pandemic, according to a new government report.
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Warren and other progressives propose ‘ultra-millionaire’ tax
By Erik Wasson     3 min read
Senator Elizabeth Warren, joined by Reps. Pramila Jayapal and Brendan Boyle, proposed a new wealth tax on households with a net worth of more than $50 million.
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