The uncertainties in the year ahead are making it difficult for corporate tax executives to decide exactly what to do, given the challenges surrounding COVID-19. | House passes Biden aid with $1,400 checks; focus moves to Senate → | | By Erik Wasson 3 min read | | The House passed President Joe Biden’s $1.9 trillion pandemic-relief plan, spanning $1,400 stimulus checks, enhanced jobless benefits and fresh funding for vaccines and testing. Also included: a minimum-wage measure with no prospects of passing in the Senate. | |
| No progress without a pandemic? → | | By Daniel Hood 2 min read | | Even after the coronavirus, the accounting profession will need to keep changing and adapting at a rapid pace. | |
| Corporate-tax proposal in Senate stokes economists’ concern → | | By Olivia Rockeman 3 min read | | A fresh initiative in the U.S. Senate to put a tax penalty on big companies as a way of forcing higher minimum wages prompted a skeptical reaction among economists including a top adviser to former President Barack Obama. | |
| Trump’s tax returns arrive at Manhattan prosecutor’s office → | | By Greg Farrell 1 min read | | New York prosecutors have received eight years of Donald Trump’s individual and corporate tax returns from the former president’s accounting firm, according to a spokesman for Manhattan District Attorney Cyrus Vance Jr. | |
| Key senators float corporate tax to enable minimum-wage hike → | | By Laura Davison, Erik Wasson and Steven T. Dennis 4 min read | | Two Senate committee chiefs are looking at ways to raise taxes on companies paying workers less than $15 an hour, as part of a new strategy to include President Joe Biden’s push to boost the minimum wage to that level in his COVID-19 aid bill. | |
| Schumer weighs big-firm tax to enable minimum wage hike → | | By Erik Wasson 2 min read | | 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. | |
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