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Low-Wage Tax Penalty Risks Sparking Contract Labor Boom

A Democratic plan to slap tax penalties on companies with too many low paid workers would drive larger firms to outsource more of their labor unless Senate Finance Chairman Ron Wyden can plug potential holes in his plan, economists warned.

Marijuana Dispensary Urges Supreme Court to Review IRS Summons

A Colorado marijuana dispensary argued the U.S. Supreme Court should consider a challenge to an IRS summons over possibly improper business deductions because the case offers an opportunity to address the definition of constitutional income under the 16th Amendment.

Wisconsin Cranberry Tax Nears End; Mississippi Reform on Tap

The Week in Wayfair: Wisconsin moved forward with ending its sales tax on dried cranberries; Mississippi took up a major proposal to cut income taxes while raising sales taxes; Missouri moved closer to requiring tax collection by remote sales and marketplace facilitators; and Louisiana looks at a single sales-tax collection entity.

Key Democrat Pushes 5% Penalty to Force Big Firms to Raise Wages

Senate Finance Committee Chairman Ron Wyden says he will seek a 5% penalty on big companies that fail to pay employees a certain amount, what he calls a “Plan B” after the Senate parliamentarian ruled minimum wage can’t be included in stimulus legislation.

House Set to Pass Stimulus as Minimum-Wage Hike Dealt Blow (2)

The House is poised to pass President Joe Biden’s $1.9 trillion Covid-19 stimulus, but a ruling by late Thursday by a Senate official dealt a major blow to prospects that the final legislation will include a hike in the U.S. minimum wage to $15 per hour.

Start Now on Remote-Work Tax Planning for 2021: Opinion

Many employees are approaching the one-year mark of working from home, with no set date to return to the office. For those who live in different states from where their employers are based, tax returns due this year and beyond may be particularly complicated.

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How Sports Betting Impacts State Budgets

Since the Supreme Court struck down a law banning sports betting on May 14, 2018, dozens of states have passed laws to allow gambling on sports. Will the rise in tax revenue from sports betting be enough to fill budgets depleted by Covid-19?

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