WASHINGTON ( NewsNation Now ) — Many employers and federal agencies are either opting out of President Trump's payroll tax holiday, or cautioning their employees that the additional money in their paychecks might have to be paid back.
“They’re going to get the rude awakening that, oh my goodness I have to pay this back," said Tony Reardon, president of the National Treasury Employees Union. His members are all federal employees, and Reardon said he’s urging all of them not to spend the extra money in their paychecks, as a result of President Trump's payroll tax deferral.
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Dejoy property tax washington DC USPS funding Congress | wusa9.com
WASHINGTON — The DC Office of Tax and Revenue found current Postmaster General Louis DeJoy and his wife, Ambassador Aldana Wos, underpaid several years of property taxes after they inaccurately claimed a Homestead Tax deduction since 2012 for their Connecticut Avenue condominium in Northwest DC.
DeJoy and Wos paid DC the back taxes and interest totaling $8,851.47 in a corrected bill due July 27, 2020 according to DC tax documents and a family spokesperson. While DC also penalized DeJoy and Wos $730 for the back taxes DC tax records, provided by a family spokesperson Saturday morning, show that DeJoy successfully appealed the penalties in August to have the penalty removed. No reason for the waiver was stated in that document.
The SALT tax deduction is a handout to the rich. It should be eliminated not expanded
Sales taxes rebound strongly | The Daily Standard Stories
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Big Tech needs to pay more tax, EU's Gentiloni says
Big Tech has to pay a "fair amount" of taxes in Europe, especially as they are the "real winners" of the coronavirus crisis, a top European official told CNBC Saturday.
His comments come amid an ongoing rift between the United States and the European Union over the taxation of companies such as Apple , Alphabet and Amazon .
"It is a major problem," Paolo Gentiloni, European Commissioner for economics and taxation, told CNBC at the European House Ambrosetti Forum, acknowledging the difficulty in overcoming differences with the United States.
How your taxes could be impacted by the coronavirus - The Washington Post
Brace yourself: Coronavirus-related tax issues could trip you up in the coming year, resulting in a bill that you can't pay.
Next year's tax season is going to be very confusing, warns Erin Voisin, director of financial planning at California-based EP Wealth Advisors.
Some people who aren't required to submit a federal return will find they must file one if they want the $1,200 stimulus payment promised under the Coronavirus Aid, Relief and Economic Security (Cares) Act. Others filing federal returns will have to account for decisions they made to take advantage of provisions in the Cares Act that offered relief for retirees and penalty-free 401(k) withdrawals.
Griffin drops $20 million into campaign against 'Fair Tax'
SPRINGFIELD (WEEK) - The richest man in Illinois has tossed $20 million into the campaign against Gov. JB Pritzker's graduated income tax amendment.
Citadel Founder Ken Griffin made the contribution to the Coalition To Stop The Proposed Tax Hike Amendment Thursday. The financial battle is growing as Pritzker already dropped over $55 million into his campaign supporting the "Fair Tax."
"Ken Griffin and his billionaire friends have collectively made more than $42 billion a week since the Coronavirus pandemic began, and yet he pays the same tax rate as our essential workers," stated Vote Yes For Fairness Chairman Quentin Fulks. "Mr. Griffin reportedly made $1.5 billion last year, and under the Fair Tax, he would have had to pay $45 million more in taxes while 97% of Illinoisans would have seen their taxes go down or stay the same."
Placing Joe Biden's Tax Increases in Historical Context
Supporters and critics of Democratic presidential nominee Joe Biden 's tax plan have made a variety of claims about the size of the tax proposals, ranging from "not big enough" to the " biggest tax increase in history ." Comparing his tax proposals —which include higher taxes on high-income earners and businesses paired with more generous provisions for households and specific activities—to historical tax changes is helpful for analyzing these claims.
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