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Taxes

COVID-19

Some delayed stimulus payments may not arrive until you file 2020 taxes

by Nova Safo
Jan 7, 2021
If the IRS has out-of-date information for your bank account, you may have to claim the stimulus as a credit on your 2020 taxes.
There’s a glitch in the direct payments system: For some taxpayers, the IRS has out-of-date bank account information.
Olivier Douliery/AFP via Getty Images
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COVID-19

Small businesses still struggling with COVID impacts must consider tax implications, too

by Justin Ho
Dec 29, 2020
Many received PPP loans. And that means new tax questions for 2021 filings.
A closed dining area outside a Manhattan restaurant on Nov. 13, 2020.
Spencer Platt/Getty Images
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Biden faces economic obstacles beyond the pandemic's burdens

by David Brancaccio , Erika Soderstrom and Daniel Shin
Dec 29, 2020
The list includes dwindling trust funds for Social Security and Medicare and potential bubbles in the housing and stock markets.
Biden will confront "headwinds unlike those that have ever been faced by any modern president," says Eugene Steuerle of the Urban-Brookings Tax Policy Center.
Mark Makela/Getty Images
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COVID-19

Paycheck Protection Program loan recipients face a new challenge: Taxes

by Justin Ho
Nov 17, 2020
As the year draws to a close, small business owners are starting to figure out their tax liabilities for 2020. That's complicated for businesses that got Paycheck Protection Program loans.
Empty chairs are seen inside a restaurant in New York on Nov. 13, 2020. Businesses whose PPP loans are forgiven are not allowed to claim deductions on expenses that were paid for using loan money.
Kena Betancur/AFP via Getty Images
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Elections 2020

Fact-checking Harris’ and Pence’s claims about taxes

by Janet Nguyen
Oct 9, 2020
The two clashed over Trump’s signature tax reforms during the vice presidential debate.
A view of Vice President Mike Pence and Sen. Kamala Harris at the vice presidential debate on Wednesday.
Eric Baradat, Robyn Beck/AFP via Getty Images
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NY Times: Trump paid $750 in US income taxes in 2016, 2017

by Associated Press
Sep 27, 2020
IRS figures indicate that the average tax filer paid roughly $12,200 in 2017, about 16 times more than what the president paid.
Trump paid no federal income taxes in 10 of the past 15 years, The New York Times reported Sunday.
Andrew Harrer/Pool/Getty Images
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Elections 2020

What do the wealthy think of Joe Biden's plan for taxes and economic rebuilding?

by David Brancaccio , Rose Conlon and Erika Soderstrom
Aug 21, 2020
The private sector isn't necessarily "running scared," says Eurasia Group's Ian Bremmer.
Olivier Douliery/AFP via Getty Images
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What are Kamala Harris’s economic priorities?

by Beth Pearlman
Aug 13, 2020
How might the current pandemic and financial crisis change the economic priorities of VP candidate Kamala Harris?
Sean Rayford/Getty Images
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Apple wins court battle with EU over $15 billion in back taxes

by Andy Uhler , Nova Safo and Alex Schroeder
Jul 15, 2020
The EU had accused Apple of getting special treatment in Ireland and avoiding paying its fair share of taxes.
Apple’s European operations are based in Ireland, where the corporate tax rate is a lot lower than in many other European countries.
Justin Sullivan/Getty Images
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COVID-19

A busy year for tax accountants, even with a July 15 filing deadline

by Justin Ho
Jul 15, 2020
They've been processing PPP loans, and also simply helping clients navigate a tough financial climate.
The tax season is far from over, too. Some are applying for the Oct. 15 extension.
Tim Boyle/Getty Images
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