As the coronavirus pandemic — and Congress's undersize response — wreaks havoc throughout the economy, tax receipts are cratering. This means that state and local governments are facing enormous revenue shortfalls at the exact time they are dealing with large additional demands. So far, states and localities have responded by slashing spending and jobs, with 1.5 million public-sector workers laid off by the end of June.
The federal government, which unlike most states does not have to balance its budget every year, could solve the problem tomorrow by providing fiscal relief to states and localities, like the $1 trillion provided by the HEROES Act that passed the House in May.
And here's another article:
Big Tech finds a way to pass on the cost of digital taxes in Europe
Apple has announced that it will increase its charges for app developers, as it becomes the latest tech giant to pass on some of the costs of new digital taxes to smaller businesses.
The move, announced Tuesday, comes after countries including the U.K., France, Italy and Turkey implemented digital services levies, which force tech giants to pay more taxes. However, Apple also said that some of its latest price adjustments were taking place due to changes in VAT (value-added tax) rates.
Apple, Google, and Amazon respond to European tech taxes by passing on costs - The Verge
For many years, Europe has been unhappy with the tax habits of US tech giants. As regulators and politicians have often noted, these firms make vast amounts of money from European citizens but pay a pittance in tax. In the absence of an overhaul of the global tax system, a number of European nations have introduced new taxes aimed specifically at these companies. And the tech giants are responding by passing on the costs.
Why we should register voters when they file their taxes
Were you following this:
Working Remotely in the Pandemic May Generate a Tax Surprise | Personal Finance | statesville.com
If the pandemic caused you to relocate across state lines, even temporarily, the next surprise could be having to file an extra tax return and potentially pay more taxes.
The issue gained national attention in May, when Gov. Andrew Cuomo of New York said out-of-state health care workers who came to help with the pandemic would face New York income taxes.
Union-Backed Poll Shows Broad Support for Taxing
Major labor groups in New York on Tuesday released a poll finding broad support for increasing taxes on the wealthy in the state amid a sharp drop in revenue.
But while the poll found backing for increasing taxes on billionaires, the survey also showed majority support for increasing taxes on income of more than $500,000 as well.
Former Indian Trevor Crowe admits to lying on taxes, must pay $85,000 in restitution -
CLEVELAND, Ohio – Former Indian Trevor Crowe agreed Wednesday to pay $85,043 in restitution for lying on his taxes to hide money he made from a major gambling business.
The Indians drafted Crowe in the first round in 2005. He played three years for the Indians, from 2009 through 2011. He played his last year with the Houston Astros in 2013.
Crowe cooperated with authorities about his role in the gambling business of Clinton Reider, a Mentor-on-the-Lake resident whose bookmaking operation used offshore websites to control and track bets received in the bookmaking ring, according to documents filed by federal prosecutors.
Tax NYC sports venues to help with fiscal crisis, councilmembers say
“For far too long, this city has given a free pass to our beloved teams when it comes to property taxes, out of fear they’ll somehow pack up their bricks and beams and head across the Hudson River,” the letter says. “Government has blown more chances to save our financially strapped school system than Edwin Diaz has blown three-run Mets leads.”
The owner of the Garden—currently the Dolan family’s Madison Square Garden Co.—has not paid any property taxes on it since 1982 under what was initially meant to be a 10-year agreement, according to the letter. The council members estimate that, by 2030, the city will have missed out on $1 billion in revenue from one of its most famous venues.
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