Wednesday, February 5, 2020

Goodbye California & High Taxes! Hello Residency Audit?

California state of United States flag on flagpole textile cloth fabric waving on the top sunrise ... [+] mist fog

A California resident is anyone in the state for other than a temporary or transitory purpose. It also includes anyone domiciled in California who is outside the state for a temporary or transitory purpose. The burden is on  you  to show that you are  not  a Californian. If you are in California for more than 9 months, you are  presumed  to be a resident.

Publisher: Forbes
Date: 2020-02-04
Author: Robert W Wood
Twitter: @forbes
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While you're here, how about this:

Anchorage property taxes set to rise after Alaska Legislature fails to override budget vetoes -

Anchorage property taxes are set to go up after Gov. Mike Dunleavy vetoed half of state funding to pay down debt for school bonds and the Legislature failed last month to override the cut.

Andy Ratliff, the Anchorage school district's Office of Budget and Management director, said the district was able to find about $4 million to ease the burden on taxpayers. That leaves about $16.5 million, which will increase Anchorage property tax bills sent out in May by $48 per $100,000 of assessed property value.

Publisher: Anchorage Daily News
Date: 2020-02-05T03:03:13.671Z
Twitter: @${siteTwitterUser}
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Amazon finally owes federal income taxes this year - The Verge

Amazon's recent tax payments have drawn plenty of criticism, including rebukes from several Democratic presidential candidates. The company estimated a federal income tax burden of less than zero for both 2017 and 2018, at least according to one highly imperfect measure. Now, it's apparently broken that streak with a $162 million bill — although that's still a fraction of its roughly $13.3 billion US income, and we don't know how much the company will actually pay.

That number, unsurprisingly, is more complicated than it looks. Amazon's 10-K filing lists a federal income tax provision of slightly over $1 billion. Approximately $162 million of that is "current" — that is, expected to be paid this year. The rest is deferred to a later date, thanks to rules that let companies delay paying taxes on long-term investments like equipment.

Publisher: The Verge
Date: 2020-02-04T08:00:00-05:00
Author: Adi Robertson
Twitter: @verge
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Experts: Waiting to file your taxes increases risk of identity theft

WESTON, Wis (WSAW) -- It's tax season and financial experts are warning taxpayers not to wait too long when filing their taxes because it increases the risk of identity theft.

"Common problems we usually see is when people go to claim their children, they find out their kids have already been claimed by someone else, maybe the other parent," explained Jamie Koeppel who is an Enrolled Agent at H&R Block.

Date: 9CD4A96D8A076527F07FD24CFCDE5489
Author: Jerel Ballard
Twitter: @wsaw
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This may worth something:

Where Is My Tax Refund? — ProPublica

So, you figured out your deductions or credits , calculated how much you owed in taxes and successfully filed your return (for free, hopefully) . If you're sitting around wondering where your money is, you're not alone. Lucky for you, the IRS offers several ways to track your tax return.

* * *

Online: You can get your refund status on the IRS website here . See below for the information you'll need to have handy.

Publisher: ProPublica
Date: 2020-02-04
Author: Kristen Doerer
Twitter: @propublica
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Before raising taxes, New York Democrats should check out these numbers
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Publisher: Crain's New York Business
Date: 2020-02-04T11:18:51-0500
Author: Greg David
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A Texas sales tax rule hinges on a question: What's local? | The Texas Tribune

A sizable herd of people in business suits gathered in a government hearing room this week to talk about tax law.

* * *

The suits were assembled for a public hearing about city governments that pay businesses to locate in their cities — by effectively refunding sales taxes those companies have collected from their internet customers.

Those refunds go not to the customers who paid them, but to the companies that collected them for the state.

Publisher: The Texas Tribune
Date: 2020-02-04T22:51:00 00:00
Author: Ross Ramsey
Twitter: @TexasTribune
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The IRS Just Made It Easier To File Your Taxes For Free

Filing your taxes may be a pain, but if you are owed a refund, making this onerous task a priority is a smart move. This week, the IRS reported that the official opening day of Tax Filing Season will be January 27 th , 2020. That is the first day that it will accept and process tax returns for 2019. Filers have until April 15 th to file federal taxes and pay any taxes that may be owed. If you choose to file an extension, any taxes owed will still be due by April 15 th .

Publisher: Forbes
Date: 2020-01-30
Author: David Rae
Twitter: @forbes
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