Tax

Senate Majority Leader Chuck Schumer is weighing adding a provision to the $1.9 trillion COVID-19 relief plan that would put a penalty tax on big companies that don’t pay workers at least $15 an hour, a Democratic aide said on condition of anonymity.

Corporations are starting to buy digital assets like Bitcoin to bolster their treasuries, but the volatility in prices could put a dent in their balance sheet.

A ‘wave’ of claims for the Domestic Production Activities Deduction sparks an alert.

RAP sheet; shipping out; Pelicon; and other highlights of recent tax cases.

To best serve your clients, and your own firm, these are the top items to closely monitor in the year ahead.

Maneuvers played out across the country as census tract boundaries were changed to accommodate wealthy investors whose projects fell outside the lines of roughly 8,700 opportunity zones. About 140 tracts grew in size.

A host of developments promise to complicate this year's run-up to April 15.

The Tax Court added its voice to the dilemma facing many taxpayers working remotely due to the pandemic.

The Financial Crimes Enforcement Network issued a warning about the widening range of scams involving Economic Impact Payments aimed at recipients of COVID-19 relief.

The Internal Revenue Service is confronting some barriers in detecting improper conduct by tax-exempt organizations that abuse the federal tax laws.