Weekly Digest – June 19 2024

Weekly Digest – June 19 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

IRS options for late filers: payment plans and penalty relief

The IRS announced several options to assist taxpayers who missed the April filing deadline for their 2023 federal income tax returns. These include programs to help those struggling with payment and potential penalty relief for first-time offenders.

We’re in a new era of supply chain disruption

After a series of COVID-19 pandemic disruptions, ongoing geopolitical conflicts, and now a historic year in which more than 60 countries are holding elections, supply chain managers face a growing number of challenges.

The ‘good’ and ‘bad’ news inside the US jobs report

The latest U.S. payrolls report did little to settle the debate about where the job market is headed, with ample fodder for both “soft-landing” believers and doubters over whether the Federal Reserve can tame inflation without sending millions of workers onto the jobless rolls.

Gas prices could push overall inflation lower

Falling gas prices made May one of the tamest months for inflation since late last year, if forecasters are correct.

The economy hits a midyear holding pattern

From the C-suites of big companies to the halls of the Federal Reserve, economic decision-makers are waiting to see whether the next shift is toward recession, reacceleration or something in between.

Supreme Court rules 9–0 for IRS, denying refund in estate tax dispute

The Supreme Court ruled unanimously in favor of the IRS on June 6 in a dispute over taxing shareholders’ life insurance policies. Justice Clarence Thomas wrote the court’s 9–0 decision in Connelly v. Internal Revenue Service.

Which states tax capital gains the most?

Taxpayers who sell their assets are subject to taxes on net earnings, or capital gains, without factoring in inflation. In addition to the federal Tax Code on capital gains, individual states have their own accommodations.  Learn more about the states and their tax rates on capital gains.

Top 10 benefits of blockchain technology for business

Most of the businesses in USA look for new methods and strategies to improve their operations and stay ahead of the competition. Blockchain technology, known for its role in supporting cryptocurrencies like Bitcoin, also offers several practical advantages for businesses across various industries.

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