In 2021, more than 50 percent of American households paid zero income tax to the Internal Revenue Service. According to a Bay Area tax attorney, this spike, although temporary, was the result of major COVID-19 relief spending, which included stimulus payments for...
Elon Musk, CEO of Tesla, is currently facing a $15 billion tax bill. Tax attorneys in San Jose speculate that it is likely Musk will sell some of his Tesla stock before the year is over. Musk even went as far as to conduct a poll among his 67.2 million Twitter...
Because Puerto Rico offers substantial tax advantages, a new trend has begun: cryptocurrency traders, hedge-fund managers, and wealthy individuals have been exiting the mainland to Puerto Rico to avoid President Biden’s proposed increases on capital-gains tax. These...
The U.S. Department of the Treasury has released a report that some tax lawyers have read stating that a lack of functioning copiers and printers has contributed to a serious backlog at that agency. IRS Backlogs Continue at Disconcerting Pace As many people know, the...
Should Work-from-Home Benefits be Taxed? Our tax lawyers have become aware of a recent survey conducted by Deutsche Bank Research. The objective of the survey was to take a look at the significant shift toward working remotely that is now taking place across the...
