Get Your IRS Checks; Shareholders Should Be Secondary
- Defenders Tax Resolution
- Aug 6, 2021
- 2 min read
As the country emerges from the maelstrom of a historic pandemic, Americans are turning a critical eye towards the status quo. Some argue that capitalism must evolve to level the playing field between a corporation’s shareholders and its stakeholders (employees, customers, community). Meanwhile, workers ranging from firefighters to consultants are questioning costly arrangements that leave them indebted to their employers. On Capitol Hill, key Democrats are pushing for a historic set of climate policies. Read on for the Forbes analyses you need to make financial sense of the season.
Capitalism 2.0
Who owns the modern corporation? While the status quo in the U.S. for decades has been that it’s the shareholder, contributor Peter Georgescu contends that shareholders are not, in fact, owners—and lays out a new form of capitalism that could benefit all Americans. For daredevil arbitrageurs, explore two schemes to help you profit from the new crypto trusts popping up. In meme stock land, AMC Entertainment AMC-2.7% has tapped its CEO as its new board chair, and a fresh SEC filing reveals that the cofounders of Robinhood could score a combined net worth ofup to $5.4 billion following its hotly anticipated IPO.
The End Of Non-Compete Agreements?
President Biden recently signed an executive order asking the FTC to ban or limit non-compete agreements, which can block workers from seeking employment in their field elsewhere. But employees can still find themselves stuck at a job thanks to “training repayment agreements,” which saddle employees with debt if they leave their job before a certain time, ostensibly to offset training costs. A second major student loan servicer will call it quits by the end of the year—find out if you’ll be affected. Progressives are rallying around free tuition at public colleges, but depending on how the proposed programs are designed, they could end up helping the students who need it the least.
Mind The Generational Gap
Though it could raise premiums, senior contributor Howard Gleckman argues that adding dental, vision and hearing coverage to Medicare would aid millions of older people. From ordinary income rates to capital gains tax hikes, understand the key drivers that could impact your estate planning in 2021 and beyond. A new poll indicates that nearly half of Millennials doubt they’ll see a dime of their Social Security benefits, and they might not be entirely wrong. If retirement is on your to-do list in the next decade, internalize these tips to kick financial fears to the curb. Plus, some good news for the 69 million retired Americans already collecting their benefits: the Social Security cost-of-living adjustment for 2022 could range from 5.3% to 6.1%—levels unseen since 2009.
IRS Cash Machine
Two Democrats aim to tack a new import tax for countries failing to meet U.S. carbon emissions standards onto their party’s $3.5 trillion budget reconciliation proposal. If you are a caregiver to a family member or you’re helping a relative pay for medical or long-term care, you may be eligible for a variety of tax write-offs. This month, some taxpayers have received up to three separate checks from the IRS;here’s how to check that you’re getting what’s rightfully yours.
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