WASHINGTON — A growing movement by foreign governments to tax American tech giants that supply internet search, online shopping and social media to their citizens has quickly emerged as the largest global economic battle of 2020.
The fight pits traditional allies against each other, with European countries like France, Italy and Britain clashing with the United States over their plans to impose new taxes on digital services provided by companies like Amazon and Google.
While you're here, how about this:
How Founders Can Pay Zero Taxes On Up To $10 Million
Qualified Small Business Stock (QSBS) is a tax provision that allows founders and investors of early-stage companies to exclude $10 million or more from their taxable income, but few have heard of it. Here's why it can make a big difference—and what you need to know about it.
QSBS, a part of Section 1202 of the Internal Revenue Code, was signed into law in 1993 with the intent to create jobs and stimulate technological innovation in emerging industries. This tax exclusion allows founders and investors to potentially pay zero federal income tax on up to $10 million or 10x on an investment if the five conditions below are met. Many states (unfortunately excluding California) have adopted analogous provisions allowing the same tax savings on the state level as well.
Apple called out by economist over failing to pay taxes | Fox Business
FoxNews.com columnist Liz Peek, former investment banker Carol Roth, former Pennsylvania Gov. Ed Rendell (D) and Kaltbaum Capital Management President Gary Kaltbaum on the report that 60 U.S. companies avoided paying federal income taxes in 2018.
Apple Inc . was taken to task on Thursday during a panel discussion at the World Economic Forum in Davos, Switzerland.
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CEOs and political leaders in Davos have been discussing companies being responsible for their employees, their suppliers, and their communities.
Don't wait: File your 2019 taxes now using your mobile phone | Julie Jason | indexjournal.com
IRS Free File is available to most taxpayers, namely those who earned roughly $70,000 or less in 2019. It's free. It's easy. You can even use your mobile phone to do the filing. For the millions of taxpayers who qualify, what could be easier?
And if a refund is due, using Free File will get you that refund through free direct deposit, which is faster than any way to get a refund, according to the IRS. If you owe taxes, you can use Direct Pay or electronic options to pay the U.S. Treasury.
Many things are taking place:
What Houstonians need to know before filing taxes - HoustonChronicle.com
Starting Jan. 27, the Internal Revenue Service will begin accepting tax filings for the 2019 fiscal year.
But in Houston, where small businesses are plentiful and tax professionals number in the thousands, there are a few tips and tricks to getting your taxes ready before Apr. 15.
Here’s how to pick a tax filing method that works for you and your money, and what you need to know about tax changes in 2020.
Kansas City Voters To Decide Whether To Raise Sales Taxes For Fire Department | KCUR
Kansas City voters will decide in April whether to increase the city sales tax to help maintain buildings and buy new vehicles for the fire department.
The City Council voted 10-2 on Thursday to place the issue on the ballot in April. Councilmembers Melissa Robinson and Eric Bunch voted against the measure. Mayor Quinton Lucas was absent.
The plan would double the sales tax collected for the fire department from a quarter cent to a half cent, which would raise an additional $21 million a year.
Bill to allow Baltimore to collect millions in taxes on Uber, Lyft moves forward after yearlong
A bill that would allow Baltimore to collect millions in taxes on Uber and Lyft rides — which went a year without a hearing due to the political upheaval following the resignation of ex-Mayor Catherine E. Pugh — was approved by the City Council's Taxation, Finance and Economic Development committee Thursday.
The rideshare tax bill will be heard by the full council on Monday and is expected to pass. Mayor Bernard C. "Jack" Young plans to sign it "as soon as it crosses his desk," according to spokesman Lester Davis.
The Tax Code Is Regressive - The Atlantic
There is no determining who is definitively right in the debate. Income is complicated. Taxes are complicated. Accounting is complicated. But Saez and Zucman have shown how focusing only on federal taxes, and not state and local taxes, has skewed our understanding of the tax code. They have also powerfully demonstrated that the very richest play by very different tax rules than the merely well-off and the working poor.
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