Former employees’ information was used by restaurant owners to file business taxes, according to a lawsuit.
A bar in Manhattan is facing a lawsuit for allegedly misrepresenting an employee’s identity, claiming she was an owner or director of the business. This misunderstanding has led to a hefty $2.5 million tax liability. Alexandra Putnam served as a payroll processor and operations manager from 2016 to 2023 for Elizabeth Slavutsky and Armando Soto, […]
The guide to avoiding taxes
Rethinking Tax Structures: The Evolution and Efficacy of Income and Inheritance Taxes In the early 20th century, a significant shift in tax philosophy emerged. The prevailing notion became that taxes ought to be based on individuals’ means, placing heavier burdens on those with greater financial capabilities. This “tax the rich” approach played a crucial role […]
Students with forgiven loans this year will not face federal taxes.
Recently, borrowers who became eligible for student loan forgiveness were informed that they won’t have to pay taxes on the amount forgiven, confirmed by the Trump administration. Last week, the Department of Education announced it would resume forgiveness for qualifying borrowers under two different income-based repayment plans that had previously been paused. On October 17, […]
Senator Justice is said to owe $8 million in unpaid taxes.
The IRS has put two liens on Senator Jim Justice and his wife, Kathy, due to unpaid tax debts that exceed $8 million. This information was initially shared by Politico’s Ry Liburd. Metro News tried to contact Justice through his Senate office and the public relations department at the Greenbrier Resort, owned by the Justice […]
House GOP proposal aims to prevent UN from enforcing global taxes on the US
New Bill Aims to Block UN-Imposed Taxes A new proposal from House Republicans seeks to stop the United Nations from requiring the U.S. to collect taxes that aren’t specifically imposed by American governments. The bill is set to be introduced this week as the UN prepares for a vote on a global tax concerning carbon […]
Three clever year-end strategies to help lower your taxes in retirement
Year-End Tax Planning Opportunities for Retirement Ryan and Tyson Tucker, financial advisors, emphasize that the last quarter of the year offers a significant chance to reduce your tax burden in retirement. The presidents and CEOs of BOSS Retirement Solutions have aided over 50,000 families in optimizing their retirement plans. They advise against overlooking year-end strategies […]
Liz Weston: Looking to prevent taxes on small withdrawals from retirement accounts? Here are several options.
Dear Liz: I’m a bit puzzled about the required minimum distributions from my retirement account. I want to avoid taxes on these withdrawals, but it seems impossible. Can you help clarify this? Answer: If you took a deduction when you contributed to your retirement account, then you’ll have to pay taxes on those distributions. As […]
Italy believes its banks can manage increases in budget taxes.
Italy’s Planned Tax Increases on Financial Sector ROME – Prime Minister Giorgia Meloni reassured the public on Friday that the increased taxes on banks and insurance companies, outlined in the government’s 2026 budget, wouldn’t negatively impact the economy or stir unrest within the financial sector. As part of the budget plan for 2026-2028, banks and […]
Companies and labor groups clash over plan to increase taxes on offshore corporate earnings.
Crowd Gathers for Global Intangible Low-Tax Income Taxation Discussion It’s quite unusual to see such a significant crowd showing interest in the complex issue of taxing “global intangible low-tax income” (GILTI). Yet, the organization Raise Up has made it a key focus of their political agenda. A coalition made up of labor unions and progressive […]
Billionaire Ken Griffin states that Citadel’s move from Chicago was ‘not difficult,’ pointing to crime and taxes.
Ken Griffin’s Hedge Fund Cuts Chicago Presence Billionaire Ken Griffin announced that his hedge fund’s operations in Chicago will be reduced to just two floors. This shift comes as rising crime, high taxes, and other difficulties push employees to move to Miami and New York. “Sadly, for the past six or seven years, Chicago has […]