Keyword: tax
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Atlanta News First reports that Atlanta taxpayers endured extensive queues outside the city’s Tax Assistance Center, but not everyone was looking for last-minute help from the IRS ahead of the April 15 tax filing deadline. The center was open Saturday with extended hours, allowed individuals to engage directly with IRS representatives regarding their refunds, but the demand to do so led to hours-long waits under the sun. A majority of the people in line had received an email or letter from the IRS stating they had to verify their identity in person. The notification went on to say their refund...
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The Inflation Reduction Act created a pilot program that’s finally given Americans a free and easy way to file their federal taxes with the government, and it’s getting rave reviews. A man holds a sign advertising a tax preparation office for people that still need help completing their taxes before the Internal Revenue Service deadline on April 14, 2010 in Miami, Florida. Cindy Black of Lynnwood, Washington, has almost always done her own taxes. The 62-year-old nonprofit executive’s situation is straightforward: She only has one or two W2 forms for her employment, sometimes with a 1099 for some consulting work...
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"I didn't buy groceries last pay period" "You know why?" "I currently am being charged over $200 a month, for a CARBON TAX" "There's an extra $40 on my gas bill and $187 extra on my hydro bill" "Canadians are suffering" "I fill my SUV to go to work and it used to cost me $71. Now it costs me $98" "It shouldn't have to be this way" "It's sad" "I work full time" https://media2.giphy.com/media/3oEjI8Kq5HhZLCrqBW/giphy.gif
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So why am I telling this story? Because there is a tax benefit if you have an accident that is a total loss, and you receive an insurance payout for said loss. It’s called a “sales tax affidavit” and is available by law in all 50 states. There are some variations depending on the state, the model year of the vehicle, damage assessment, etc., but it is still the law of the land.
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Colorado Democrats are pushing an 11 percent excise tax on gun and ammunition sales, as well as numerous other California-style gun controls. There is a public hearing on the excise tax proposal today, and Colorado Springs firearms instructor Ana Flanell is urging the public to rally against the tax. On Easter Sunday she posted to X: “Join me at the Capitol tomorrow to testify against this “sin” tax. Self-defense is our right and we should not be taxed an outrageous 11% to exercise our Second Amendment rights. I’ve included a screenshot below of what to select when signing up. Let’s...
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In his annual letter to shareholders, Fink called the decreasing ability to retire in a financially sound way one of the biggest economic challenges of the mid-21st century. "Today in America, the retirement message that the government and companies tell their workers is effectively: 'You're on your own,'" Fink wrote. A federal law that will require employers with 401(k) plans to auto enroll new workers provides a bright spot, he said.
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(NEXSTAR) – Tax season isn’t really fun for anyone, but some states’ residents have it harder than others this time of year. As families around the country collect their paperwork and get ready to file, people in Illinois may find themselves with a heftier tax bill than their neighbors in other states. An updated analysis by MoneyGeek, a personal finance site, evaluates how “tax friendly” each state is by calculating the tax burden on the average citizen. States with low tax burdens earned an A, while those with the highest tax burden earned Fs. The state that scored worst overall...
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If you don't follow far-left Massachusetts Democrat Senator Elizabeth Warren on X, you should — if only for 24 hours. Hilarity reigns, as Warren never misses a concocted opportunity to rail against "profiteering" corporations, "the rich" not paying their "fair share," and "free" this and "free" that.Warren and Vermont Sen. Bernie Sanders have long pushed for a wealth tax that would begin with billionaires. Unlike Sanders, who believes billionaires shouldn't even be allowed to exist, Warren "only" thinks they should be taxed to smithereens (See: wealth redistribution).Now Warren, along with leftist Democrat Reps. Pramila Jayapal (WA) and Brendan F. Boyle...
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Buying a home has become increasingly out of reach for Americans, who are grappling with a double whammy of high interest rates and surging home values. In his State of the Union address on Thursday, President Joe Biden proposed a new tax credit that would provide $10,000 to first-time home buyers. Biden is also proposing a separate $10,000 tax credit for current homeowners who sell their "starter home" in order to jump into a bigger house. That could help melt a real estate market in which homeowners who locked in low mortgage rates during the pandemic and are hesitant to...
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Folks, please watch this and share it everywhere. The flood of illegal immigration is going to cause severe financial strain on our schools AND everywhere else in society. Click here for documentation of massive tax dollars spent on illegal aliens.
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Hawaii's governor wants to impose a $25 'climate fee' on tourists, saying the funds collected would be used to protect the state's beaches and prevent wildfires. Governor Josh Green, a Democrat, last month introduced a bill that would impose the flat fee upon check-in at hotels or vacation rentals, projecting it will raise about $68 million annually. 'It's a very small price to pay to preserve paradise,' Green told the Wall Street Journal, saying the new tax would fund a state fire marshal, new fire breaks to protect vulnerable communities, and disaster insurance.
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Tax refunds so far this year are noticeably smaller than they were at the same time last year, according to early data published by the IRS. The average refund check so far this year is worth $1,395 as of Feb. 2, about 29% lower compared to the $1,963 average recorded last year. That is based on nearly 2.6 million tax refunds collectively worth about $3.65 billion. However, the IRS has cautioned taxpayers the average refund amount will likely change in the coming months as more returns are processed.
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Agroup of conservative Republicans on Wednesday joined Democrats in a procedural vote to stop the advancement of a plan to expand state and local tax (SALT) deductions. The procedural vote to consider SALT legislation failed 195-225, with 18 conservatives joining the Democrats, according to The Hill. Moderate Republicans from New York, California, and New Jersey have sought to expand the $10,000 SALT deduction cap imposed in the 2017 Tax Cuts and Jobs Act. Supporters of the cap have argued it serves to incentivize states and local governments to reduce spending. New York GOP Rep. Mike Lawler had sought to double...
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The California legislature proposed a bill requiring gun owners to pay an annual tax and register each gun they own. The bill, SB 1160, was introduced by Senator Anthony J. Portantino (D – Burbank) and would require the Department of Justice to register all firearms in the state annually.
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As Americans file returns this season, some worry about IRS audits amid agency efforts to ramp up service, technology and enforcement. Recent IRS enforcement has targeted high-income individuals, large corporations and complex partnerships. But everyday filers could still face an audit — and certain issues are more prone to IRS scrutiny, experts say. You don’t want to face the “audit lottery,” warned Ryan Losi, a certified public accountant and executive vice president of CPA firm Piascik. Audit rates of individual income tax returns decreased for all income levels from tax years 2010 to 2019, largely due to lower IRS funding,...
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The average refund so far this tax season is ringing in at $1,395 compared to $1,963 last year... Tax refunds so far this year are markedly smaller than the same time a year ago, according to the earliest tax season data from the Internal Revenue Service. The average refund amount was $1,395 as of Feb. 2, down 28.9% from $1,963 for the same period last year, the IRS reported. That’s based on nearly 2.6 million refunds disbursed so far versus 7.9 million refunds disbursed by this point last year. The statistics for this year are based on five days of...
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Everywhere I go, I hear from people who are struggling to keep up with rising costs. It’s the No. 1 concern on everyone’s minds. Too many families across this country are hurting. They’ve been dealing with high housing costs, high child care costs, and high college costs for too long, and they have been hit hard by global inflation since the pandemic. I know that there is no stress like financial stress on a family, because it never goes away. It eats at your sense of security. It impacts every little decision. I saw it firsthand growing up, as my...
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While catching up over the holidays, my father and I began to talk politics, as we often do nowadays. We bemoaned recent government financial blunders such as the Green New Deal, two proxy wars, and welfare for the unprecedented number of illegal migrants pouring across the Southern border. My father concluded our talk by saying, “And our tax dollars are paying for it!” [SNIP] But, in reality, it’s questionable if much of our tax dollars are really being spent on political misadventures. Looking at historical metrics, it’s clear that taxes have been relatively static for almost two decades, which cuts...
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Tesla CEO and X/Twitter owner Elon Musk recently reiterated his belief in the need for carbon taxes, backing up the World Economic Forum’s recent call for a “globally coordinated system of carbon taxes.” In a recent tweet, Tesla owner Elon Musk called for the introduction of carbon taxes, reiterating recent calls for a “global coordinated system of carbon taxes” by the WEF. Breitbart News reporter Kurt Zindulka recently reported on the antics of the WEF: During a panel discussion on the “Global Economic Outlook” on Friday during the annual WEF meeting in the Swiss ski resort town of Davos, Al-Jadaan...
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The House of Representatives on Wednesday passed a bill to expand the Child Tax Credit until 2025 despite some opposition from Republican members of Congress. “The Tax Relief for American Families and Workers Act of 2024” is a bipartisan bill negotiated between the Democratic-led Senate Finance Committee and the Republican-led House Ways and Means Committee, which would reform and expand the credit until 2025. On Wednesday, the House voted to suspend normal rules and pass the bill by a vote of 357 yeas to 70 nays. “For the last three years, American families, farmers, workers, and small businesses have borne...
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