Federal Activities:
On April 22, the Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James filed a complaint in federal court to seize a $1.6 million home that alleged a fraudulent transfer by the operator of a debt-collection scheme. The complaint asks the court to declare the transfer void and order the seizure and sale of the property to partially repay the debt-collector’s outstanding debt to the federal and state governments. For more information, click
On April 22, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing nearly two million payments in the sixth batch of American Rescue Plan Economic Impact Payments. For more information, click
House Democrats, Biden at Odds Over Enhanced Child Credit Bloomberg 2 hrs ago Laura Davison
(Bloomberg) President Joe Biden and House Democrats are clashing over how much to prioritize an extension of an expanded tax credit for parents.
House Ways and Means Committee Chairman Richard Neal on Tuesday released a plan calling for a permanent extension of the child tax credit. Biden told lawmakers last week he is only planning to propose a temporary extension in the “American Families Plan” that he’s set to release this week.
The clash isn’t ideological Biden told members of Congress he prefers a permanent extension but the differences over how long to offer the credit highlight the difficulties of enacting expensive social programs. The Tax Foundation estimates that a permanent expansion could cost $1.6 trillion over a decade.
Inflation Worry Spreads Beyond Bitcoiners to Wall Street Stock Analysts yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
[co-author: Tony Meyer, Jr.]
On March 31, 2021, the Biden administration released a factsheet for the “Made in America Tax Plan”. On April 5, 2021, Senate Finance Chair Ron Wyden (D-Ore.) and Senators Sherrod Brown (D-Ohio) and Mark Warner (D-Va.) released “Overhauling International Taxation: A framework to invest in the American people by ensuring multinational corporations pay their fair share” (the “Senate Finance Plan”), a parallel set of proposals to the Made in America Tax Plan. On April 7, 2021, the Treasury Department released a report on the Made in America Tax Plan that provides more detail on the Biden Administration’s tax proposals (the “Treasury Report”). Finally, on April 5, 2021, the Treasury Secretary, Janet Yellen, gave a speech to the Chicago Council on Global Affairs and, on April 8, 2021, wrote an op-ed in the Wall Street Journal advocating a global minimum tax, which is a chief component of the Made in America Tax Plan.
Comparison Of The Biden Administration And Senate Finance Committee International Tax Proposals - Tax mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.