Bitcoin Buyers Must Report Gains to IRS $BTCUSD As cryptocurrency comes to the forefront with more investors participating, it is important to be aware of the tax issues. As cryptocurrency comes to the forefront with more investors jumping aboard, it is important to be aware of the tax issues and how to report gains accurately […]
American’s With Foreign Accounts, Listen Up If the total balance of your foreign financial accounts exceeds $10,000 at any time during a calendar year, then you must file an “FBAR” (FinCEN Form 114, Annual Report of Foreign Bank and Financial Accounts) with the US government for that year. An FBAR for a given year is […]
God Bless America! Congress to Stop IRS from Enforcing Barack Obamacare Mandate The US Congress is making sure 1 Key part of Barack Obamacare gets repealed poste haste, the Individual Mandate. The House appropriations committee has drafted a provision to stop the IRS from enforcing the individual mandate of the Affordable Care Act aka Barack […]
FATCA Must Be ‘Killed” by This GOP Congress The Foreign Account Tax Compliance Act (FATCA) imposed a worldwide financial disclosure information regime on every financial institution in the world, it is an international nightmare. There are several major problems with FATCA which are widely discussed and debated. FATCA was passed into law in Y 2010 […]
Tax Reform is Coming, Tune Out the ‘Noise’ $KO, $PEP Taxation, the power to destroy, has exploded at the federal level, as well as at the state and local level. To see 1st hand how taxes can destroy, one need look no further than Philadelphia, there soda sales have fallen 32% thanks to a tax […]
President Trump’s Order Allows Churches to Become Politically Active Thursday, US President Donald Trump signed an executive order that allows tax-exempt churches to more actively participate in politics and and may well free religious organizations to deny employees insurance coverage for birth-control pills. The order partially fulfills a campaign promise by President Trump, although he […]
The Left is Now Attacking Pro-Trump Author David Horowitz On April 20, when my book Big Agenda: President Trump’s Plan to Save America, was entering its 10th consecutive week on the New York Times best-seller list, I received an e-mail from Robert O’Harrow, an investigative reporter for The Washington Post. He was asking for an […]
Republican Lawmakers Want DOJ to Look at IRS Scandals Again Last Wednesday, 2 GOP lawmakers Wednesday urged the US Department of Justice (DOJ)to take another look at former IRS official Lois Lerner “in order to assure The People that DOJ’s prior investigation was handled fairly and to restore taxpayers’ trust in the IRS. Democrat Lerner […]
IRS Tax Refund Delay to Weigh on Consumer Spending Legislation aimed at preventing fraud is delaying US federal tax refunds and is likely to hurt consumer spending by as much as $21-B this month. The provision in the Protecting Americans from Tax Hikes Act passed by Congress near the end of Y 2015 will postpone funds […]
The Trump Tapes, the Trump Vote: Maintaining Perspective Two days later, the Trump tapes continue to reverberate. As someone who speaks and writes arguing that electing Donald Trump (with all of his imperfections) is far preferable to electing Hillary Clinton (with all of hers), I’ve been challenged by friends who are Democrats–some no longer so […]
The IRS has a Special Audit Squad for the Rich Saturday was the 1st day of Q-4, a time of financial reckoning, when businesses move to make quotas and reach year-end targets. Corporations and individuals alike rush to cut the income tax they will need to pay next year. Last year the IRS collected $6.3-B […]
RNC Will “Punish” Key Republicans Who Break with Donald Trump Republicans who abandon the party by refusing to back its Presidential nominee Donald Trump to face opposition if they try to run in the future, the Republican National Committee (RNC) Chair Reince Priebus said on TV Sunday. “People who agreed to support the nominee, that […]
IRS Opens Investigation into Clinton Foundation Just a year after brushing off Republican lawmakers, the IRS has reversed course and opened up a formal investigation into the activities of the Clinton Foundation. The IRS referred Rep. Marsha Blackburn’s (R-TN) request to its Exempt Organizations Examinations program. Ms. Blackburn has led a cadre of Republicans persistent […]
1st Time Buyers of EV’s and Hybrid Cars Eligible for Tax Credits US environmentally-conscious taxpayers can choose from a variety of vehicles powered solely or partially by electricity. Some of the cars on this list are “head scratchers”, as in the Porsche 918 Spyder Hybrid base priced at $845,000 (pictured above), humm! In addition to the perceived ecological […]
The Gold Step Sum Indicator Giving Strong Buy Signal I have not published this Bear’s Eye View (BEV) chart for the Dow Jones since last February; time for a review. Here is the frequency distribution for the below BEV series (left table) with a frequency distribution of the same data going back to 2 January […]
IRS Releases the List of the 426 Groups it Targeted The IRS has just released a comprehensive list of the organizations it targeted for intrusive scrutiny, under pressure from federal judges fed up with what they said was stonewalling by the agency. The move was spurred by a class-action lawsuit brought against the IRS for […]