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NatWest reports 40% profit jump as bank refers customers to debt experts

TheGuardian

Strong first-quarter results come as group warns of ‘uncertain’ economy because of cost of living crisis NatWest has reported a 40% jump in first-quarter profits but warned about the UK’s “uncertain” economy amid the cost of living crisis, saying it had already referred more than 2,000 customers to debt experts at Citizens Advice.

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Vestager: EU Should Be Willing To Act On Digital Tax

PYMNTS

In a move that increases pressure on multinationals, European Union commissioners-designate said the bloc should come to an agreement on a digital tax if a deal doesn’t happen at a worldwide level by the conclusion of 2020. He would aim to prevent separate bloc governments from having the ability to nix tax decisions.

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How tax accountants can provide valuation services

Abrigo

For some accountants, tax and audit services are attractive for the recurring revenue streams and steady client base they provide. Some of those same accountants believe they’re too busy to provide value-added type 2 services such as business valuations, so they refer out their clients who have needs in those areas.

Taxes 170
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Berkshire’s Munger Weighs In On ‘Stupid’ Tax Policies … And Much Else

PYMNTS

In a series of commentaries at the annual shareholder meeting of the Daily Journal, Munger said that some states — including California, Connecticut and New York — have been “stupid” as they have driven wealthier individuals away amid onerous tax and regulatory policies. In addition, some politicians, such as New York Rep.

Taxes 100
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Treasury Dept. revenue proposals address tax treatment of earned wage access programs

CFPB Monitor

The Treasury Department’s General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals includes a proposal concerning how EWA programs should be characterized for tax purposes. It would also add a definition of on-demand pay arrangements to the IRC.

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IRS Has Rocky Start With Stimulus Funds As Money Misrouted

PYMNTS

People took to social media to express their anger, some stating that they’ve had the same bank account for a dozen years and others complaining that their tax payments got deducted but they can’t get a deposit. If you filed last year’s or this year’s taxes we have your information.”. Just be patient, check back later,” says Garcia. “If

Taxes 291
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IRS Backs Off Fortnite Gaming Currency As Reportable Income

PYMNTS

A section of the IRS website telling people that the online currency from the popular game Fortnite was subject to federal taxes has been removed as of Wednesday (Feb.12). Experts say V-bucks, as well as other, similar game currencies, are a new field that will need to be reported in some way on one’s taxes.

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