New Year’s resolutions are often about being more responsible with your time, exercising, or working toward a larger goal. The value of keeping such a resolution comes when you can look back and see how far you’ve come in accomplishing what you set out to do. Last year, Republican lawmakers set their sights on major tax legislation, and now, the results of that work will start to show up—including larger refunds for millions of taxpayers. But that doesn’t mean Congress should stop its tax reform work, esp ...

April 15 is the final day to pay owed income tax, but the agency can set up installment plans for people who can’t pay the full amount they owe at once. April 15 is also the last day for taxpayers to file a return or get an extension to Oct. 15 to submit their return.“As always, the IRS workforce remains vigilant and dedicated to their mission to serve the American taxpaying public. At the same time, IRS information systems have been updated to incorporate the new tax laws and are ready to efficiently and e ...

Michael Faulkender, the former deputy secretary of the U.S. Department of Treasury, believes it’s too early to doubt President Donald Trump’s record on the economy. "I think we should recognize how well it set the foundation next year," Faulkender said of the administration’s record in an appearance on Fox Business' "Kudlow" on New Year's Eve.With 2025 in the rearview mirror, Faulkender believes the changes the administration made in its first year will disprove criticisms from Democrats that a Republican g ...

Core Insights - The retail sector is experiencing a rebound, particularly among older mall names that were previously considered struggling, driven by a more resilient consumer than expected [1][2] - Certain retailers, such as Dollar Tree and TJX, are well-positioned to benefit from current market conditions and consumer behavior [4][6] Retail Winners - Older mall retailers are showing signs of recovery, indicating a shift in consumer spending patterns [1][2] - Dollar Tree is noted for overcoming challenges related to tariffs and management transitions, with expectations for improved performance in 2026 [4][5] - TJX is highlighted as a strong performer, appealing to high-income consumers seeking value, and is expected to thrive in the current economic environment [6] Retail Losers - Some retailers are still struggling and may be left behind in the current market, particularly those that have not adapted to changing consumer preferences [3] Consumer Behavior - Consumers are shopping more intentionally and closer to their needs, with a focus on promotions and discounts [8] - The current economic climate is characterized by a "K-shaped" recovery, where different consumer segments are experiencing varying levels of financial stability [6][8] Future Outlook - Optimism for 2026 is based on potential tax reforms that could increase consumer spending capacity, particularly in discretionary goods [9][10] - Home Depot and Costco are identified as potential comeback stocks, benefiting from pent-up demand and favorable market conditions [12][13]

Core Viewpoint - CPA Australia expresses concerns over the Productivity Commission's recommendation to implement a cashflow tax (CFT), arguing it would complicate the tax system, increase compliance costs, and negatively impact productivity and consumer costs [1][5]. Tax Structure and Implications - The proposed CFT would tax companies based on their net cash flow instead of profits, allowing full deductibility of all outlays, including investments [2]. - The introduction of the CFT would create a complex hybrid tax model, conflicting with the government's goal of simplifying regulations [2][3]. Compliance and Economic Impact - The complexity of the CFT is expected to raise compliance costs and administrative burdens, making the tax system more difficult for businesses to navigate [3]. - CPA Australia believes that the new tax structure would increase the overall tax burden on some of Australia's most productive businesses [3][5]. Corporate Tax Rates - Currently, Australia's corporate tax rate is 30%, one of the highest among developed economies, with the new proposal aiming to raise it to an effective rate of 33% while reducing dividend imputation credits [4]. - Higher tax rates for large corporations may seem beneficial in the short term but could lead to increased costs for consumers and businesses over time [4][5]. Overall Economic Consequences - The additional complexity and higher taxes could deter investors and potentially drive capital offshore, weakening the economy [5]. - CPA Australia advocates for comprehensive tax reform centered around the GST rather than the proposed CFT, viewing it as a detrimental tax grab with serious economic consequences [6].

Government Policy & Economic Impact - The government prioritizes party interests over national interests [1] - Inability to make difficult decisions on spending, tax reform, and growth will not stop Britain's managed decline [1]

The government did what it has done since coming to power: put party before country. The inability to make difficult decisions on spending, tax reform and growth will do nothing to arrest Britain’s managed decline https://t.co/fE3412lpM9 ...

Political Landscape & Election Results - Javier Milei's midterm election performance significantly exceeded expectations, securing 41% of total votes, surpassing pre-election polls and exceeding the opposition by nine points [2] - This victory marks a turnaround from a previous 14-point defeat in a local vote, restoring investor confidence in Milei's free-market policies [1][2] Market Reaction - Argentina's bonds and stocks experienced a surge in response to the election results, with benchmark dollar notes increasing by over 13% [2] Policy & Reform Implications - Milei now needs to collaborate with moderate factions to enact key reforms, including tax, labor, and pension reforms, to foster growth and secure potential reelection in 2027 [3] - Securing over a third of the lower house is a step forward, but Milei still needs to build consensus to achieve a simple majority for lasting reforms [3] Economic Context - Argentina faces ongoing economic challenges, requiring significant reforms to ensure long-term stability and growth [1][3] - Donald Trump had previously extended a 20 billion USD lifeline to Argentina, highlighting the nation's economic difficulties [1]

Core Insights - UK Chancellor Rachel Reeves is considering tax reforms that may increase national insurance contributions for certain professionals, potentially affecting around 200,000 individuals and generating approximately £1.9 billion annually [1][3]. Group 1: Tax Reform Implications - The proposed changes aim to incorporate national insurance into the tax obligations for accountants, lawyers, and doctors, which could significantly alter their tax liabilities [1][3]. - The introduction of a new levy on limited liability partnerships (LLPs) is intended to address a substantial deficit in the UK's public finances [3]. Group 2: Impact on LLP Structures - Many large law and accountancy firms operate as LLPs to benefit from favorable tax treatment and avoid paying employers' National Insurance contributions [2]. - If the exemption for national insurance contributions is eliminated, the marginal tax rate for partners in these firms could rise from approximately 47% to 54% [4]. Group 3: Industry Reactions - The proposed tax changes have been described as "frustrating and costly" by industry leaders, with some firms considering abandoning their LLP structures in favor of incorporating as companies [4].

Core Insights - The combination of a tax overhaul and festival demand is driving higher credit growth, potentially providing a short-term boost to the economy while lenders are cautious about overextension [1][19] Tax Reform Impact - The GST has been simplified to two slabs of 5% and 18%, down from four, with a flat 40% tax on luxury and sin goods, leading to lower prices for many essential items while increasing costs for others [2][3][19] - Essentials like milk, staples, and medicines have become cheaper, while items like cars and tobacco have seen price increases [3][19] Lending Strategies - Banks and NBFCs are launching aggressive marketing campaigns to capitalize on the new GST slabs and the festive shopping season, aiming to convert pent-up demand into loans [6][19] - Kotak Mahindra Bank is offering discounts up to ₹30,000 on electronics, while IDFC First Bank has introduced cashback offers on large purchases [7][19] - L&T Finance is promoting "buy now, pay later" schemes and other incentives to stimulate demand in the two-wheeler loan segment [8][20] Credit Growth Projections - Bank credit in India is projected to grow by 11-12% in the second half of FY26, with retail lending expected to expand by 13% [11][20] - The total resources raised in the economy have more than doubled from ₹13.58 lakh crore in 2019-20 to ₹30.08 lakh crore in 2024-25, reflecting an annualized growth rate of over 20% [10][20] Consumer Behavior - The festive season and tax reforms are expected to push deferred purchasing decisions forward, with many consumers having held off on purchases during the inauspicious Pitru Paksha period [12][20] - The mechanics of promotional schemes often involve manufacturers subsidizing loans, allowing lenders to maintain income while offering consumers attractive deals [13][20] Economic Implications - Increased consumer spending on items like televisions and bikes through credit is expected to boost GST collections and factory orders, benefiting lenders and expanding their customer base [15][20] - The government benefits from reinforcing the narrative of successful tax reform and increased accessibility to credit [15][20] Risks and Challenges - The Reserve Bank of India has expressed concerns about the rapid growth of unsecured personal lending, which could lead to rising defaults if economic momentum slows [16][20] - NBFCs face challenges with high funding costs and liquidity mismatches, making them vulnerable to interest rate fluctuations [17][20] - The lending ecosystem in India is at a critical juncture, with banks, NBFCs, and capital markets all influencing credit flows, highlighting both opportunities and potential future stress [18][20]