During this tax season, Joe Biden, the remaining Democratic presidential contender, and his supporters are advocating higher taxes, either in the form of a new wealth tax or by raising the marginal rates of the income tax. Those who disagree often say, "Hey hypocrites, if you truly believe this, why not dip into your own pockets rather than impose a burden on the rest of us?
By design, taxes are a shared enterprise. They are not the undertaking of a single person. We cannot build bridges, support the military, or battle any pandemics by ourselves. The same is true for taxes. A functioning society requires every person to be a team member, obligated to participate in its civic duties and responsibilities. The government needs to be funded in a manner mutually agreed upon by Congress and the people, based on the principles of fairness and ability to pay.
Many things are taking place:
Stimulus Checks Won't Reduce Future Tax Refunds - FactCheck.org
Social media posts falsely claim that federal payments from the COVID-19 stimulus package could reduce taxpayers’ future refunds. The Internal Revenue Service says the payment “will not reduce your refund or increase the amount you owe when you file your 2020 tax return next year.”
The IRS has begun dispersing money from the $2 trillion COVID-19 economic stimulus package. But memes and videos on social media are spreading misleading messages about made-up consequences for those who receive the payments.
Taxes Due Date Extended to July 15th
Sponsored - The IRS has extended the deadline to file taxes to July 15th. Ahead we'll talk about how you need to know.
The IRS has pushed back the deadline to file taxes amid the coronavirus outbreak, from April 15th to July 15th. How will this benefit Americans?
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No I wouldn't say that. I would still recommend at least preparing your taxes as soon as you can while things are still fresh on your mind. If you are someone that will owe money, this will tell you how much you owe and then you can use the next few months to save for that. If you're someone who will get a refund, the IRS is issuing refunds now so the sooner you get it in, the sooner you'll get your money. Filing electronically and opting for direct deposit may also help speed things up.
Supreme Court tax case could show if CARES Act clauses aid Trump — Quartz
In early May, after weeks of delay prompted by the pandemic, the US Supreme Court will hear oral arguments in three highly-anticipated cases about president Donald Trump's financial records . One of those matters involve a subpoena for Trump's taxes.
The case is important. Trump, unlike any president in recent history, has refused to disclose his finances, obscuring potential conflict of interests between his government and his personal business. But the issue has now taken on a whole new urgency because the $2.2 trillion CARES Act passed by Congress last month contains deep within its 800 pages two barely-noticeable tax clauses that only benefit rich Americans, perhaps including the president.
In case you are keeping track:
The Netherlands Keeps Going Upstream When It Comes To Aviation Tax
AMSTERDAM, NETHERLANDS - 2020/03/31: KLM aircrafts seen parked at Schiphol Airport in Amsterdam due ... [+] to the flight cancellation amid Coronavirus outbreak. As Covid-19 continues to spread and countries respond with travel bans and advisories, global demand for flights has plummeted. As a result, airlines have been forced to slash routes with some operating near-empty aircraft. Many airlines are now offering customers the option to amend or cancel flights free of charge.
A European aviation tax seems a remote possibility, after last week's bruising discussions over recovery plans. Only The Netherlands renewed its plans for the new €7 tax in March, despite requests from the aviation industry to take a pause because of the current COVID-19.
Coronavirus could threaten local property tax limits | The Texas Tribune
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You haven't heard everything yet: The coronavirus could ignite a fight over local government taxes in Texas.
A law passed less than a year ago requires cities and counties to get approval from voters any time they're increasing property tax revenue by more than 3.5%. The old restriction was 8% — an increase that lawmakers decided was too generous, especially at a time when voters were boiling mad about rising property taxes.
Warren Township to ask for less in taxes this year | Echoes Sentinel News | newjerseyhills.com
WARREN TWP. - Residents would pay less in taxes to the township this year than they did last year, according to the 2020 municipal budget introduced Thursday night.
The Township Committee voted unanimously to introduce the roughly $20,212,570 budget in a Zoom videoconference meeting, in which committee members emphasized the decrease in the municipal portion of the tax rate.
The municipal tax rate is to decrease from 30.6 cents per $100 in 2019 to 30.4 cents per $100 this year. The average homeowner, with an assessed home value of $743,808, would pay about $15 less in local purpose taxes.
Stimulus funds returned for many who used tax-prep firms | WKRC
Happening on Twitter
President @realDonaldTrump: Economic relief payments have been sent out to over 80 million Americans! If you haven… https://t.co/wFGIpA8dxp TeamTrump (from USA) Fri Apr 17 22:31:51 +0000 2020
The people on twitter and in media saying not to open the economy have mostly kept their jobs and aren't panicking… https://t.co/OIAOlGcpJu Timcast (from Philadelphia, PA) Fri Apr 17 16:27:50 +0000 2020
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