Tax Filing Season
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Jump in penalties for late filing of tax returns
A self-assessment return may be due even if there is nothing to payFinancial Times - World -
Potential Everton buyers 777 accused of fraud
Everton's prospective owners 777 Partners and the firm's co-owner Josh Wander are accused of fraud in a New York court.BBC News - Top stories -
Steward Health, Nation's Largest Physician-Owned Hospital Operator, Files for Bankruptcy
The health network is finalizing a loan from hospital landlord Medical Properties Trust to stay afloat in chapter 11.The Wall Street Journal - World -
Steward Health Care files for Chapter 11 bankruptcy
Steward Health Care, the struggling hospital group that owns hospitals in Massachusetts, Texas, Florida and other states, announced Monday that it is filing for bankruptcy.CBS News - Top stories -
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DOJ files lawsuit against Texas prison agency for denying religious accomodation
The Department of Justice (DOJ) filed a lawsuit against a Texas prison agency for allegedly denying religious accommodation to an employee over wearing a head covering. Franches Spears, who was a records clerk within the agency’s Pam Lychner ...The Hill - Politics -
Clothing retailer Rue21 files for bankruptcy, will close all of its stores
In a filing last week with U.S. Bankruptcy Court in the District of Delaware, Rue21 said it will close all of its stores over the next two months and hold “going out of business” sales. It will also sell its intellectual property.MarketWatch - Business -
Medical Properties Trust tenant Steward files for bankruptcy protection
Hospital chain Steward Health Care, a tenant of publicly traded Medical Properties Trust, said it’s filing for bankruptcy protection.MarketWatch - Business -
Capital-Gains Tax Hits More Home Sellers
The $500,000 exemption for home sales hasn’t changed since 1997.The Wall Street Journal - World -
Windfall tax weighs heavy on North Sea producers
Smaller independent operators say they have taken the brunt of the pain from the 75% tax rate on profitsFinancial Times - Business -
SEC charges firm that audits Trump’s social-media company with ‘massive fraud’ affecting hundreds of filings
The regulatory agency said that hundreds of audits done by BF Borgers CPA PC contained “deliberate and systemic failures” that included false documentation to make it appear its reports complied with standards set by the Public Company Accounting ...MarketWatch - Business -
Revealed: key files shredded as UK government panic grew over infected blood deaths lawsuit
Lost documents prevented victims from finding out the truth, official inquiry told. Disastrous failures that caused the contaminated blood scandal were denied by ministers for decades after officials destroyed, lost and blocked access to key ...The Guardian - World - United Kingdom -
How a ‘Hidden’ $1.4 Billion Tax Will Make N.Y.C. Water Bills Rise
Mayor Eric Adams is resurrecting a budget gimmick and charging rent to the city’s Water Board, which will pass on the costs to ratepayers.The New York Times - Top stories -
EV Makers Get Two-Year Reprieve on Tax-Credit Restrictions
The Treasury Department has extended eligibility for cars containing Chinese graphite through 2026.The Wall Street Journal - World -
Biden administration grants flexibility for automakers in EV tax credit rule
The Biden administration on Friday granted automakers some flexibility on qualifying for electric vehicle tax credits. The new final guidance, issued as part of the 2022 Inflation Reduction Act, incorporates a two-year exemption to provisions of ...The Hill - Politics - Joe Biden -
Manchin blasts leeway in Biden’s EV tax credit rule: ‘Outrageous and illegal’
Centrist Democrat Sen. Joe Manchin (W.Va.) is blasting the Biden administration’s new interpretation of which vehicles can qualify for electric vehicle tax credits — saying it gives too much leeway for batteries containing Chinese materials. “The ...The Hill - Politics - Joe Biden -
Pension savers warned of new tax-free lump sum cap
Withdrawals of more than £268,275 will be treated as taxable incomeFinancial Times - Business -
EV Makers Get Two-Year Reprieve on Tax-Credit Restrictions
The Treasury Department has extended eligibility for cars containing Chinese graphite through 2026.The Wall Street Journal - Business -
Reclassifying Marijuana Could Unlock Billions in Tax Savings for Cannabis Companies
The proposed change could lift an income tax burden that wipes out most licensed marijuana retailers’ earnings.The Wall Street Journal - World -
Reclassifying Marijuana Could Unlock Billions in Tax Savings for Cannabis Companies
The proposed change could lift an income tax burden that wipes out most licensed marijuana retailers’ earnings.The Wall Street Journal - Business -
My mother-in-law died. My husband, her executor, did not file a will or open probate. What happens if we sell the house?
“The home was willed to her son with the provision that he paid his sisters a percentage of the home’s value.”MarketWatch - Business -
New Treasury Tax Guidelines Open Door for Corn and Soy in Sustainable Aviation Fuels
The guidance is a boon for biorefineries, but some observers worry it is based on unproven assumptions.The Wall Street Journal - World -
We need to make a housing decision fast, and the only place to get the funds is our retirement savings
A couple needs to make a housing decision fast, and the only place to get the funds is their retirement savings.MarketWatch - Business -
US loosens some EV battery rules, potentially increasing tax credit eligibility
West Virginia Sen. Joe Manchin says new rules governing electric vehicle tax credits are a giveaway to ChinaABC News - Top stories -
South Sudan removes newly imposed taxes that had triggered suspension of UN food airdrops
South Sudan has removed recently imposed taxes and fees that had triggered the suspension of U.N. food airdropsABC News - World - United Nations