And yet, as any parent can attest, certain lessons are not only worth repeating, but they are also necessary so you can check off that you did your duty to inform.
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For many taxpayers, this is the singular reason to rejoice during tax season, which opens Jan. 27. This is when the Internal Revenue Service starts accepting and processing 2019 returns. The agency expects to receive more than 150 million individual returns this season.
Every year, millions of filers look forward to getting a tax refund like it is found money. It's not. They simply had their employers withhold too much of their own money.
Quite a lot has been going on:
Property Values, and Thus Property Taxes, Are Rising | ARLnow.com
Late last week Arlington County announced that its assessments for 2020 had risen 4.6% on average — 4.9% for commercial properties and 4.3% for residential properties. That compares to an average property assessment increase of 3.5% last year .
The rise in property values will almost certainly mean a rise in property taxes for Arlington residents. The county, in its announcement, seemingly discounted the idea that tax rates — currently $1.026 for every $100 in assessed value — would come down to offset the rising assessments.
Tax season is coming. It might be as chaotic as last year - Los Angeles Times
Filing taxes last year was a nightmare for taxpayers, their accountants and the Internal Revenue Service. This year might not be much better.
The IRS is still working to issue guidance for the changes to the tax code signed into law more than two years ago. Congress also passed a series of tax breaks late last year that will require the IRS and tax software providers to revise forms at the last minute, and taxpayers may have to amend returns from prior years to claim those breaks.
Tax reform repeal organizer says they have the signatures for November ballot - The Salt Lake
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The leader of a referendum campaign seeking to overturn recent changes to the state's tax laws declared an early, and unofficial, victory Tuesday shortly after the deadline for submitting petition signatures to county elections offices.
Fred Cox, a former state lawmaker, said internal tracking showed that campaign volunteers collected roughly 152,000 signatures statewide — exceeding the 116,000 required to qualify for the ballot — and meeting minimum signature thresholds in at least 18 counties.
Other things to check out:
Eye on the Pie: Enjoying the Indiana sales tax | Fwbusiness | fwbusiness.com
One night recently, in a moment of unusual calm, I sat down to read the 2019 Annual Report of the Indiana Department of Revenue.
It's handsomely produced. Lots of pictures with employees saying "Cheese." Far too short on meaningful data, as far as I'm concerned, but loaded with numbers that only administrators could love.
However, I was able to figure out that Indiana personal income taxes (state and local) amounted to $8.9 billion and accounted for 42% of the state's $21 billion in revenue in fiscal 2019 (July 2018 to June 2019). Add to that sum $8.1 billion in sales taxes collected and you have households paying 81% of the Revenue Department's collections.
LR airport to appeal taxes ruling
Bill and Hillary Clinton National Airport/Adams Field will appeal a Pulaski County Circuit Court ruling that says the state's largest airport owes the county $450,000 in property taxes.
"This is an issue that could well affect far more than the airport," Bryan Malinowski, the airport's executive director, said in a briefing Tuesday to members of the Little Rock Municipal Airport Commission, which oversees the commission.
City steps up pressure on vacant, tax delinquent properties | Local News | heraldmailmedia.com
I keep my tax money in a high-yield savings account to earn more - Business Insider
A few months ago, I quit my 9-5 to take my business, Her First $100K , full time. I had spent the previous three years building my business to the point where I felt confident enough to become a full-time entrepreneur.
It has been, by far, the riskiest move I've ever made — and it also means I need to keep my ducks in a row, especially when it comes to covering my financial obligations (read: taxes.)
Happening on Twitter
Perspective: A big tax refund is nothing to celebrate. Here's why. https://t.co/jiC9yR7sOm washingtonpost (from Washington, DC) Wed Jan 22 08:59:58 +0000 2020
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