Millions of taxpayers are taking advantage of the IRS decision to push back the tax filing deadline due to the coronavirus pandemic. But with the new tax filing deadline of July 15 just weeks away, those taxpayers need to take some important steps now to get their returns — and payments — to the IRS before then.
About 7.6 million fewer returns have been filed with the IRS as of mid-June compared with a year earlier, says Craig Richards, director of tax services at Fiduciary Trust International, citing IRS statistics . Tax preparers were "stymied because of working from home and not being able to access all of the resources they had while in their offices," he notes.
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Past due Clark County property taxes to incur interest on July 1 | ClarkCountyToday.com
VANCOUVER – Clark County Treasurer Alishia Topper reminds taxpayers that 2020 first-half property taxes were due June 3 and accounts with the first-half payment outstanding will incur 1 percent interest beginning Wed., July 1.
The deadline was extended for individual residential and commercial taxpayers due to the COVID-19 state of emergency. The due date extension to June 3 eliminated the standard interest accrual occurring in May and June and a 3 percent penalty usually assessed on June 1.
Saudi shoppers rush to buy gold before taxes triple
JIDDAH, Saudi Arabia (AP) — Saudi shoppers have rushed to buy big-ticket items such as gold, appliances and electronics ahead of the announced tripling of taxes on basic goods on Wednesday as the government tries to shore up revenue for its economy battered by the coronavirus and low oil prices.
The government is tripling the Value Added Tax, or VAT, on basic goods and services from 5% to 15%, starting on Wednesday. It comes as the Saudi economy is now forecast to contract by 6.8% this year, according to the latest projections by the International Monetary Fund.
Greensburg Salem keeps taxes flat, cuts librarians and band teacher | TribLIVE.com
Parents, students and alumni who advocated for the preservation of programs at Greensburg Salem School District say they’re disappointed by the district’s decision to keep property taxes flat while cutting library and band positions.
“A one-mill tax increase could have fixed so much,” said Sara Deegan, a parent of two elementary school children who repeatedly asked the board to reconsider the cuts. “A small investment now would be worth so much to these children as adults.”
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Waiting for Trump's tax returns: Don't hold your breath
Halifax County retail taxes increase Wednesday | Business | yourgv.com
It raises the tax rate in Halifax County to 6.3 %. This includes the 4.3% state tax, the 1% local option tax and the 1% Halifax additional tax.
The increased sales and use tax increase does not apply to food purchased for human consumption, such as groceries, or essential personal hygiene products as both are taxed at a reduced rate.
An overwhelming majority of Halifax County voters said a resounding "yes" to the fate of the 1% sales tax increase when they went to the polls in November.
Voice of the Reader: Lawmakers should reconsider taxes | Letters | thesouthern.com
I'm writing today as an Illinois business owner to ask our lawmakers to reconsider the incremental taxes that have been placed on our state's businesses. As we all know, COVID-19 has ravaged our country's economy, and Illinois has been no exception to the damage that's been done. The pandemic forced Illinois's businesses to shut their doors. As a result, revenue has been lost, jobs have been sacrificed, and our community has transformed into an unrecognizable version of itself.
Taylor: Property taxes a problem without a solution for business owners - Beaumont Enterprise
Let’s start with one side of the math equation. Property tax appraisals by law are set in January. You may recall January 2020, which we all agree took place about seven years ago. COVID-19 months are like dog years. The lines on my face prove it.
Back in January — the halcyon days, the golden years, the boom time — the stock market indices traded at record highs, the Texas unemployment rate was 3.5%, and oil sold at $60 per barrel. The result: Real property tax appraisals went up, compared to 2019.
Happening on Twitter
At 👏 This 👏 Point 👏 Making 👏 Policy 👏 By 👏 Adding 👏 More 👏 Non-refundable 👏 Tax 👏 Credits 👏 Is 👏 Hot 👏 Garbage 👏 https://t.co/yyGTrKcJjB mattyglesias (from Washington, DC) Wed Jun 24 19:33:17 +0000 2020
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