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Business · California
California fast food workers to get $20 minimum wage under new deal between labor and the industry
Most fast food workers in California would get a $20 minimum wage next year — a nearly $5 per hour raise — under a deal announced Monday between labor unions and the industry that will avoid a costly referendum on the November 2024 ballot. See the Story
53% Center coverage: 49 sources
Business · United States
IRS halts processing of a small business tax break amid 'surge of questionable claims'
IRS Commissioner Danny Werfel on Thursday ordered the agency to immediately stop processing new claims for a pandemic-era small business tax break to protect filers from a “surge of questionable claims.” See the Story
45% Center coverage: 18 sources
Justin Trudeau · Canada
Ottawa will remove GST from new rental construction in response to rising cost of living
Prime Minister Justin Trudeau will announce Thursday that Ottawa is removing the GST on construction of new rental apartment buildings. The move follows months of immense pressure on his government to act more decisively to address the rising cost of housing and renting.See the Story
56% Left coverage: 16 sources
Latest News Stories
NFL Kickoff Could Boost Tax Revenue in Betting States (Podcast)
SportsHandle senior analyst Chris Altruda speaks with Bloomberg Tax reporter Angélica Serrano-Román about the approaches states have taken to taxing sports betting and those allowing operators to deduct so-called “free bets,” which some states are starting to limit.See the Story
Cryptocurrency · United States
Long-Awaited Bitcoin Accounting Rules to Capture Rises, Dips (1)
US accounting standard-setters unanimously voted Wednesday to write new rules for crypto. Companies that hold or invest in cryptocurrency will be required to report their holdings at fair value. The rules will go into effect as soon as 2025, but companies will have the option to apply them early.See the Story
Albany, New York · Albany
New York Lawmakers Push for New Limits on School Tax Breaks
New York lawmakers plan to push a bill limiting tax breaks that threaten school funding. The legislation would prohibit industrial development agencies from waiving taxes that would otherwise go toward funding school districts. The exemptions in recent years have reached nearly $2 billion. New York City schools lost $1.3 billion to the city's tax abatement programs.See the Story
Supreme Court Urged to Protect ‘Essential Restraint’ on Taxation
The high court agreed in June to hear Charles and Kathleen Moore's case over whether the government had the authority to tax them as shareholders of an Indian farming equipment company. Oral arguments in the case have not yet been scheduled. The couple are only suing for a refund of about $15,000, but the government has estimated that the tax ...See the Story
New York City · New York
NYC Pot-Tax Revenue Runs Below Forecasts as Store Openings Stall
New York City will have to double the number of legal cannabis dispensaries it opens a year to hit budget projections of $950 million in annual taxable sales by 2027. At the current pace of just 12 retail locations opening annually, it will take the city until 2032 to reach that sales figure. The city is on pace to collect $4 million in cannabis taxes in fiscal 2024.See the Story
Business · China
China’s struggling property giant Evergrande files for bankruptcy protection in US
Evergrande was once China’s largest property developer by sales, but after borrowing heavily, the company collapsed in 2021, sparking China’s worst property market crisis on record. See the Story
57% Center coverage: 95 sources
Jair Bolsonaro · Brazil
Brazilian hacker says Bolsonaro asked him to tamper with voting machine
A Brazilian hacker told a congressional inquiry on Thursday that former President Jair Bolsonaro asked him to tamper with an electronic voting machine to show Brazil's electoral system was vulnerable to fraud during last year's presidential campaign.See the Story
47% Left coverage: 30 sources
US Economy · United States
Coinbase gets approval to allow crypto futures trading in US
Coinbase said it's received regulatory approval to bring federally regulated crypto futures trading to eligible customers in the U.S., sending shares sharply higher before the opening bell Wednesday. See the Story
52% Center coverage: 20 sources