According to Law360, President Donald Trump signed a bill on July 1, 2019 that in part will prevent private debt collectors from pursuing low-income individuals who owe money to the Internal Revenue Service. Trump signed into law H.R. 3151, the Taxpayer First Act, which will also make a host of administrative changes to the IRS…
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How to Report Foreign Income on Your US Tax Return?
You must express the amounts you report on your U.S. tax return in U.S. dollars. If you receive all or part of your income or pay some or all of your expenses in foreign currency, you must translate the foreign currency into U.S. dollars. How you do this depends on your functional currency. Your functional…
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IRS is Hiring!
Officials at the Internal Revenue Service are looking to hire more employees to handle tax enforcement, compliance and administration of the tax code, even as more of the IRS’s older workers retire and leave the agency, particularly after the month-long government shutdown last December and January. A Series Of Top IRS Officials Made A Pitch…
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Top 1% Say Presidential Candidates: It’s Time to Tax Us More
Some of the nation’s most privileged heirs and entrepreneurs, who have made spectacular fortunes in real estate, finance and Silicon Valley have collectively united on the need to tax more of the richest Americans’ assets. In a letter published on June 24, 2019 on the website Medium.com calls for "A Moderate Wealth Tax On The…
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