Attorney Thomas Howard has worked with dozens of cannabis companies over the years, from mom-and-pops to major players. From California to Florida, New Jersey to Colorado, and all states in between where some form of cannabis or hemp is legal, Attorney Howard has helped many individuals achieve their business goals. With each new client, his experience in the legal aspects of cannabis becomes more nuanced and refined as he adapts to specific state laws and regulations. As a result, today Attorney Howard is well versed in the cannabis laws of every state in America.

The American Recue Plan passed in March 2020 requires cash apps like Venmo, PayPal and Zelle to report transactions over $600. Previously, the minimum reporting thresholds was payments that exceed $20,000, AND more than 200 such transactions.

All the “fact” verifiers are misstating the objection. The objection isn’t paying a tax – its’ the REPORTING. Many taxpayers are going to get caught not reporting – nontaxable income, because they will ignore the notice because the reported transactions are not taxable. But, how will the IRS know the transaction isn’t taxable if the taxpayer doesn’t qualify it?

Tax prepares and tax resolution companies are going to LOVE this change.

The Biden Administration has been advocating for the American Families Plan, the American Jobs Plan and the American Rescue Plan. Each of these plans have price tags in the Trillions of dollars.

On this episode of Today’s Tax Talk, Attorney Steven A. Leahy looks at the specific proposals in the American Family Plan using the administration’s own “Fact” sheets.

After 4 years of negotiations the Organisation for Economic Cooperation and Development (OECD) set a minimum global tax rate of 15% for big companies and sought to make it harder for them to avoid taxation. The Biden Administration’s Treasury Secretary Janet Yellen is pushing for Congress to implement this agreement in the pending Reconciliation Bill.

The trouble? Under our Constitution the Senate must ratify any treaty with a two-thirds majority, or 67 votes. Votes that aren’t there. Yellen and the Administration hope to push through these measures by modify existing bilateral tax treaties – that require a bare majority.