Dramatic tax shortfalls are inflaming governments’ resentment about tech companies’ soaring profits.
Negotiations about how digital giants — Google, Apple, Facebook, and Amazon — pay local taxes to foreign governments have been derailed by the Covid-19 pandemic. The timing couldn’t be worse: Governments are facing historic shortfalls and digital companies are doing exceedingly well. This all sets the stage for a global trade war. The authors explain how we got here, and what type of cooperation will get us through it.
Quite a lot has been going on:
Taxes And The Gig Economy
Paul Jones: I wanted to talk about the gig economy. This is the economy that allows people to request services via a mobile app. It also allows people also to sign up, get paid, and provide those services, such as delivering food or driving people around. This economy has grown pretty rapidly in the last few years.
However, gig workers are not regular employees. As a result, they aren't subject to withholding or employment taxes in many places currently.
Ask the I-Team: Will Mainers have to pay taxes on unemployment benefits? | WGME
Biden promises to raise taxes on Americans making more than $400,000 per year | Fox Business
Democratic presidential nominee Joe Biden said that if he wins the presidency in November's election, he will raise taxes on Americans who earn more than $400,000 a year.
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In an interview with ABC 's David Muir that aired Sunday, Biden discussed his plan for raising taxes that included this segment of the population and appeared to include businesses as well.
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Ready to move? These Oregon counties have lowest property taxes | kgw.com
PORTLAND, Ore. — Let's say you've worked at home for the past six months. You're not only a little antsy, but you're also itching for a change of scenery. You haven't just caught a travel bug, you're looking for different environs altogether.
You're looking to move, perhaps to a spot with more physical space. And, because you won't need to set foot in your office anytime soon, your employer says, sure, go for it. Yet, you don't want to leave Oregon.
Manhattan DA Cyrus Vance agrees to delay subpoena of Trump's tax returns - CNNPolitics
(CNN) The Manhattan district attorney's office said Monday that it has agreed not to enforce a subpoena to an accounting firm for President Donald Trump's financial records until after a federal appeals court has ruled on Trump's request for a stay pending appeal of his lawsuit.
Tax Mistakes In 2020 That Could Ruin Your Retirement
For those with distributions from retirement accounts like an IRA or 401(k), they count as part of your provisional income. These distributions are added to any 1099 forms you receive from your taxable investments and to one-half of your Social Security benefits for the year. If that income totals more than $34,000 for singles or $44,000 for a married couple, filing jointly, a whopping 85% of your Social Security benefits will become taxable at your highest marginal tax bracket.
Region's sales taxes decreased again in July, year-to-date show only slight drop | Coronavirus |
Happening on Twitter
Negotiations about how Big Tech pays local taxes to foreign governments have been derailed by the Covid-19 pandemic… https://t.co/8N8L8aycRX HarvardBiz (from Boston, MA) Mon Aug 24 13:33:24 +0000 2020
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