In case you are keeping track:
Debate heats up over how countries tax Big Tech companies
An international debate over how countries tax big U.S. technology companies such as Google, Amazon and Facebook is heating up, presenting a challenge for new President Joe Biden's administration.
There's a mid-year deadline for talks on a global deal that aims to defuse trade disputes with France and other countries that are imposing go-it-alone taxes the U.S. sees as discriminatory.
France has imposed its own 3 percent tax on digital revenue for large tech companies — in effect singling out the U.S. tech giants — but has said it would withdraw the tax in favor of an international solution being negotiated under the auspices of the Organization for Economic Cooperation and Development, a Paris-based international organization of 37 advanced economies.
Everything You Need To Know Before Filing Your Income Taxes This Year – WCCO | CBS Minnesota
MINNEAPOLIS (WCCO) — This year the IRS will start accepting tax returns in mid-February. But there are a few changes this year that you should know about.
The year 2020 changed the way many Americans work. If you’ve been clocking in remotely during the pandemic, you might wonder if you can write off home utility bills since your office is now your home.
“Unfortunately the answer is no. For most of us, we can’t deduct those expenses like internet and things of that nature unless you’re self-employed,” Justin Halverson, with Great Waters Financial, said.
Figures of the week: Carbon taxes can fuel green economic recovery and reduce income inequality
Were you following this:
Yes, You Have to Pay Taxes on Unemployment Benefits
And for the millions of people who found themselves out of work throughout the pandemic, simply paying the bills was often out of reach.
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With tax season set to start, many Americans are counting on tax refunds to help them fill those financial gaps – but some will find out they actually owe money to the government this year.
"These are the things you need to be aware of and prepared for before you go to file," Gay explains. "If you didn't opt to withhold taxes, you will have to pay."
Hartstein: Understand your tax bill when you vote this spring
As you begin to focus on upcoming local elections, this is a good time to get a better understanding of your real estate tax bills that reflect the taxing bodies in your community.
Yes, we all know we get a bill that either we pay or that our lenders pay through our escrow accounts, but I suspect most do not really have a true grasp of what is on those bills.
If you looked over the bills, you would see that there are a list of taxing bodies and rates and amounts attributable to each. Those taxing bodies include the county, village, school districts (one for the high school and the other for your elementary district), community college district, township, library, park district, sanitary district and possibly others.
Consumption Tax Policies | Consumption Taxes | Tax Foundation
Consumption taxes are a major source of revenue for governments around the world. If you purchase something from a grocery store or another retailer it is likely that you will pay tax on that purchase. As with many tax policies, consumption taxes are not uniform across the globe. While they make up one-third or more of the revenue for many of the 37 countries in the Organisation for Economic Co-operation and Development (OECD), this is not true across the board.
Biden's Stimulus Plan Includes $3,000 Child Tax Credits | Kiplinger
Up to $1,400 of the child credit is refundable for some lower-income Americans with children, but these people must also have earned income of at least $2,500 to get a refund.
The president's American Rescue Plan would expand the child credit for one year in three ways. First, it would increase the credit to $3,000 per child ($3,600 for a child under age 6). Second, it would make the credit fully refundable and remove the $2,500 earnings floor. Third, it would allow 17-year-old children to qualify for the child tax credit, which is good news for parents of high school juniors and some seniors.
Happening on Twitter
A number of Covid relief provisions may be claimed in full only through your tax return https://t.co/z79932s4ms CNN Wed Jan 27 17:30:03 +0000 2021
When filing your taxes this year, you could get back more money than you think, or at least lower your tax bill. A… https://t.co/5ritQ8RCU3 CNNBusiness (from Global) Wed Jan 27 17:12:04 +0000 2021
If you made $72K or less in 2020, you can do your taxes now with #IRSFreeFile. The software will submit your taxes… https://t.co/D1fp1qXO0o IRSnews (from Washington, D.C.) Thu Jan 21 14:05:18 +0000 2021
IRS Free File lets you prepare and file your federal income tax return online for free. It's safe, easy and free. https://t.co/WFuZ0U8TIv USTreasury (from Washington, DC, USA) Wed Jan 20 17:03:35 +0000 2021
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