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The Weekly (Tax)Buzz - June 16, 2021

The Weekly (Tax)Buzz - June 16, 2021

If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from our favorite bloggers, US tax proposals, tax crime stories, and much more.

The (Tax)Buzz this week: The “identity fraud crossfire” delaying some stimulus checks and tax refunds, the possibility of a digital dollar, why jobless workers in Indiana are suing their governor, and more.

CBS News: A new IRS tool is helping low-income families to obtain their Child Tax Credit payments and stimulus checks.

CNBC: The Treasury Department is estimating that “the U.S. tax gap will balloon to $7 trillion over the next decade” and calls for more funding to the IRS.

Forbes: A group of Democrats has reintroduced legislation “to institute a surtax on millionaires to close the wealth gap in the U.S.”

Politico: The Federal Reserve is exploring the possibility of “a digital dollar to be used alongside the traditional paper currency.”

Tax Foundation: There’s been some confusion about how pieces of the G7 agreement on global tax reform might work. Here are some of the open questions.

CNN: Jobless workers in Indiana are suing the state’s GOP governor “In what may be the first lawsuit aimed at stopping GOP-led states from terminating pandemic unemployment benefits early.”

AP: According to the latest figures, US unemployment claims fell for the sixth straight week to 376,000. 

Forbes: New data shows “the biggest jump in rent for single-family homes in nearly 15 years,” meaning rents are now higher than pre-pandemic.

CNBC: Stimulus checks and tax refunds are being delayed for Americans caught in the “identity fraud crossfire.”

Bonus content: 

  • (NEW) Registration has begun for the next ClientWhys 16-Hour Virtual Tax Update & Review Conference! Choose your own dates between November 2021 and January 2022 for the 8 breakdown sessions. The agenda will include everything you need to know for the 2021 tax season. Our special early registration price of $229 (regular $249) ends August 31st, so don’t delay! Register here.
  • Don’t miss our American Rescue Plan 1 Hour CPE Webcast, now available for just $39. Check it out here.
  • The Big Book of Taxes 365, our 1250+ page online tax research library, has been updated with all the latest information on the American Rescue Plan. Annual access costs only $95! Purchase yours here.
  • 19 Free White Paper Downloads – With the constant changes in legislation and rules governing our industry, it can be hard to keep up. That’s why the tax experts at TaxCPE / ClientWhys put together 19 free white papers on the most important tax issues during COVID-19.

Don’t miss our latest TaxBuzz posts: 

  • Many states are ending $300 weekly unemployment benefits early. The child tax credit could step in for some.
  • TaxBuzz Chat: How Leading Tax Pros Use Tax Planning to Boost Their Practices
  • The IRS Has Started Unemployment Benefit Tax Refunds for Those Who Overpaid

Did we miss a great article this week? Let us know in the comments below!

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Lauren Detweiler

Lauren Detweiler

I am equal parts marketer, traveler, and writer, and I've been doing all three for as long as I can remember. I have spent most of my time since graduating university traveling and working remotely in Africa and Europe. My passion lies in conveying the right messaging to the right people, and being a part of the CountingWorks and TaxBuzz team means I get to do that not only for our company, but for clients across the country as well.

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