Thursday, May 6, 2021

Half in U.S. Think Their Taxes Too High, but Also "Fair"

WASHINGTON, D.C. -- Heading into this year's delayed tax filing day, half of Americans think their taxes are too high, while 44% consider them about right and 4% too low. The 50% calling them too high is up slightly from an average 45% over the prior three years, while similar to most of Gallup's yearly measurements since 2003.

Line graph. Trend from 1956 to 2021 in percentages of Americans describing the amount they have to pay in federal income tax as too high. The percentage has ranged from a high of 69% in 1969 to a low of 45% in 2018 and 2019, and is currently 50%.

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Publisher: Gallup.com
Date: 2021-05-06
Author: Gallup Inc
Twitter: @Gallup
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If You Want to Protest Property Taxes, Here’s How – NBC 5 Dallas-Fort Worth

Last month, homeowners across North Texas started to receive the dreaded letter in the mail. Now that the shock has worn off, it's time to take action. The clock is ticking if you want to protest your property tax appraisal. In most cases, you have 30 days from the date you received your appraisal to fight it.

It can be a process that requires time, effort and homework, so it's suggested to do it sooner, rather than later.

According to the Texas Comptroller's Office, the state requires taxable property to be appraised by Jan. 1 of every year. A county's appraisal district determines what the value is and bases it off of the Texas Property Tax Code.

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Publisher: NBC 5 Dallas-Fort Worth
Twitter: @nbcdfw
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May 17: last day you can realistically file your 2020 federal taxes

Earlier this year, the IRS extended the federal income tax filing due date for individuals for the 2020 tax year to May 17, 2021, due to the continued effects of the Covid-19 pandemic.

So when's the last day to realistically file your federal taxes? For many Americans, it's actually May 17.

"You can still file your taxes on May 17," says Kathy Pickering, H&R Block's chief tax officer.

Publisher: CNBC
Date: 2021-05-05T17:40:16 0000
Author: https www facebook com CNBC
Twitter: @CNBC
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Department of Human Services Urges Pennsylvanians to File Taxes to Ensure Receipt of Economic

"Pennsylvanians are entitled to this stimulus money, but the only way to be sure that you are receiving the stimulus payments and tax credits you qualify for is to file with the IRS," said Acting Secretary Snead. "Stimulus payments total $3,200 for individuals and more for parents with children. This is a substantial amount of money that can make a difference for people who may be struggling, so don't let the deadline pass without collecting it." 

Filing federal taxes informs the Internal Revenue Services (IRS) whether someone did not receive the economic payments they are owed. Pennsylvanians who have not yet received these funds are urged to file taxes with the IRS, regardless of whether they do not typically file, if they do not have any earnings or saw a reduction in earnings in the past year or did not previously qualify for stimulus funds.

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Publisher: Pennsylvania Pressroom
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Allen's top taxpayers spent more than $4.5 million on city property taxes last year
Publisher: Dallas News
Date: 2021-05-06T18:03:14.388Z
Twitter: @dallasnews
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How Biden would raise his own taxes

Yes it would, according to Yahoo Finance calculations. As president earning a $400,000 salary, the total tax bill for Joe Biden and his wife Jill would be about $35,000 higher under the Biden tax hike proposals than if nothing changed. If the Bidens earned the same amount as in 2019—their last tax return available—their taxes would be about $15,000 higher under the Biden tax hikes.

The Bidens earned $944,737 in taxable income in 2019, putting them solidly in the top 1% of earners. Most of their income—about $538,000—came from book royalties and related income streams. Joe Biden earned $135,116 from his teaching position at the University of Pennsylvania and $186,001 in federal pensions. Jill Biden earned $73,286 from her community college teaching job. Social Security benefits, interest and a small IRA distribution accounted for the rest.

Twitter: @Yahoo
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A house was sold for unpaid taxes. How can I become the owner? - The Washington Post

A: The short answer to your questions is no. You can't simply pay the real estate taxes on a home and then become the owner of that home. At best, you have to follow the taxing authorities delinquent tax legal process to obtain title to the home, which might eventually lead to you owning the property.

Here is a rough outline of the steps you would need to follow to gain ownership of the property. First, find out when the taxing authority holds the tax lien sale. At that tax lien sale, you would make a bid to buy the tax lien. If you win the bid, you would become the tax lien buyer.

Publisher: Washington Post
Date: 2021-05-05T10:00:13.118Z
Twitter: @WashingtonPost
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$96 million Pine-Richland budget holds line on taxes; no program, staff cuts | TribLIVE.com

The Pine-Richland School Board is considering a budget for the 2021-22 school year that keeps property taxes at their current rate without the need to trim programs or staff.

The unanimous May 3 vote gave the OK for the district to advertise the budget and place it on public review.

About $1.25 million left over from this year’s budget will be earmarked next year to cover the cost of capital improvements.

Publisher: TribLIVE.com
Date: 2021-05-06T10:34:17-04:00
Author: Tony LaRussa
Twitter: @triblive
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How do nanny taxes work? They're complicated, but skipping them is a mistake - MarketWatch

In these scenarios, the dreaded Nanny Tax issue may be in play for work done in the recent past or for work still being done.

The Nanny Tax refers to your duty to withhold and deposit a household employee's share of Social Security and Medicare taxes on wages paid to the employee and also deposit the employer's share of those taxes. The employee and employer shares of Social Security and Medicare taxes are collectively referred to as the FICA tax.

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Publisher: MarketWatch
Date: 2021-05-06T00:03:00-04:00
Author: Bill Bischoff
Twitter: @marketwatch
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LEDA: Lafayette sales taxes for March 2021 highest ever on record

LAFAYETTE, La. (KLFY) — As COVID-19 restrictions begin to relax across Louisiana, the Lafayette Economic Development Authority (LEDA) noted that March 2021 racked up the highest sales tax collections in the city’s history for a single month.

March 2021 collections topped the second-highest month in history — December 2014 — by 4.2% or $28 million. Shoppers tallied $697 million in taxable sales in March, bringing the total 2021 year-to-date sales taxes collected at $1.77 billion. For the first three months of the year, Lafayette sales taxes were 19% higher than in 2020 and 17.6% higher than 2019.

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Publisher: KLFY
Date: 2021-05-06T19:54:06 00:00
Author: LAFAYETTE La KLFY As COVID 19 restrictions begin to relax across Louisiana the Lafayette Economic Development Authority LEDA noted that March 2021 racked up the highest sales tax collection in the city history for a single month
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