There is no question that the Proposition 2½ override places an unfair burden on our less economically-fortunate residents. It is the worst of taxes, but we have run out of any other way locally to raise revenue.
I attended one of the mayor's talks and was impressed by the sheer effort he is making to explain this complicated and unpopular way to raise money for our city. The city's budget is transparent and the mayor has, for three years, put off this anticipated plea for more money. Any other avenue allowed by the Legislature to raise revenue — increased property tax revenue from residential and commercial development, a restaurant meal tax, tax on marijuana sales — has been pursued by our mayor.
Quite a lot has been going on:
Court dismisses lawsuit challenging city's property tax system
A state Supreme Court judge ruled Thursday to dismiss a lawsuit seeking to upend the city's convoluted property tax system, writing that its myriad flaws do not violate equal protections under the Constitution.
Judge Cynthia Kern acknowledged disparities within the system, but disagreed with the assertion by the group Tax Equity Now New York — a broad coalition that spans real estate developers, civil rights groups and homeowners — that these imbalances amount to unlawful discrimination. The lawsuit against the city and state, which calls for a complete overhaul, argues the system disproportionately burdens black and Hispanic homeowners at the expense of wealthy, white residents.
How the IRS knows if you cheat on your taxes
Many tax forms you receive at tax time don't go only to you; in many cases, the senders give copies to the IRS as well. Those forms, called information returns, typically are records of certain payments you received or made during the tax year that you usually need to report on your tax return. Some of the most common information returns are W-2s, which report wages earned from a job, and 1099s, which report money received for things such as freelance work, dividends or interest.
Knopp bill to freeze some seniors' property taxes advances, despite walkout - KTVZ
SALEM, Ore. (KTVZ) -- State Sen. Tim Knopp, R-Bend, said Thursday his bill for the 2020 short legislative session, to freeze property taxes for low-income seniors, has advanced, despite the ongoing walkout by other GOP lawmakers.
Senate Bill 1541 has moved to the full Ways and Means Committee after moving unanimously from the Finance and Revenue Committee.
"During my town halls and from frequent discussions with my constituents the issue was prevalent, the cost of property taxes for those on fixed incomes were becoming dangerously high," Knopp said.
This may worth something:
Don't let scammers steal your tax refund; how to protect yourself | 3 On Your Side | azfamily.com
Brian Watson works for the Internal Revenue Service (IRS) and he tells 3 On Your Side that 155 million Americans will file their tax returns nationwide-- with at least 3 million of those right here in Arizona.
Should I gift my assets to avoid gift and estate taxes? - nj.com
Q. I learned that if you give a "gift" that below the taxable amount there will be no tax. If this is correct, can I give "all" of my assets such as our house, my IRA, all my CDs and my checking account to my son as a gift so he will avoid all taxes. This will be after I pass away. Your advice is appreciated.
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Hauptman said at the current exemption amount, very few Americans have to worry about t he estate or gift tax.
14 Ways to Avoid a Tax Audit - TheStreet
An audit from the IRS is not only stressful, but also time-consuming, especially if your record-keeping is not up to par.
Exercising restraint in writing off expenses and deductions and losses for 2019 can help you avoid the wrath of Uncle Sam.
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Taxpayers need to report all income, even if there is no W-2 or 1099 for that income, including any stocks, trades or cryptocurrency transactions, said Mark Steber, chief tax officer at Jackson Hewitt Tax Service, a Parsippany, N.J.-based tax prep company.
Sawant sends message to Olympia ahead of hearing on big business tax
Will King County get to tax big business to tackle homelessness, and would that block efforts from Kshama Sawant to tax Amazon in Seattle?
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Those are the burning questions heading into a House Finance committee hearing in Olympia on Thursday afternoon.
The sponsors, Rep. Nicole Macri and Rep. Larry Springer dropped a new version less than a day later.
Businesses like Amazon, Starbucks, and Expedia support the idea in concept, but have been locked in negotiations over the bill for weeks with lawmakers, labor groups, Seattle, and other cities.
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