Americans who overpaid taxes on unemployment benefits this year will start to receive refunds this week, the Internal Revenue Service announced Friday.
The agency has begun correcting those tax returns and issuing refunds. It's doing the work in phases, starting with single taxpayers with simple returns — such as those who didn't claim children or refundable tax credits.
More complex returns, including those filed by married couples filing jointly, will take until the end of the summer to correct, the IRS said.
Higher taxes may be coming. Here's Goldman's playbook for investors
The Biden administration's proposal to raise the corporate tax rate could weigh on tech companies or firms with operations concentrated in the U.S., according to Goldman Sachs.
The White House has floated several tax increases to offset most of the budgetary strain of the new spending. These proposals include hiking the corporate tax rate from 21% to 28%, as well as applying a 15% minimum tax on book income and repealing various fossil fuel subsidies.
3 Ways to Limit Capital Gains Taxes | Personal Finance | theindependent.com
Some of President Biden's proposed tax law changes have caused quite a ruckus, especially those surrounding changes to capital gains tax and cost basis provisions. What this means for you is that, in nearly all cases, there are some general practices that can keep your tax bill low. Below you'll find three ways to ensure you keep as much of your investment gains as you possibly can.
Now on to the why . Short-term investing is usually associated with speculation as opposed to true investing. If you're trying to make money on volatile spikes of a stock or cryptocurrency, you're not really investing -- you're speculating. The law encourages you to buy and hold investments that have a reasonable probability of increasing in value over the long run. You'll be in much better "tax shape" if you stick to a buy-and-hold philosophy.
LCCC Study Says Wyoming Could Afford Higher Taxes
A Laramie County Community College study presented to a Wyoming Legislative Committee last week says the state could afford higher taxes without damaging the state economy.
It was presented to the legislature's Joint Revenue Committee on Monday. it comes as the state faces long-term budget challenges that include a roughly $300 million per year shortfall in school funding. While federal COVID-19 stimulus money will more or less bail out the state, for now, it's not a long-term solution.
May 17: The last day to file taxes | WSYR
SYRACUSE, N.Y. (WSYR-TV) — May 17th is the last day to file taxes this year. The original deadline of April 15 was extended.
Some people may qualify to request an extension to file until October 15, but will still have to pay any money owed by May 17 or face penalties.
SYRACUSE, N.Y. (WSYR-TV) -- With vaccinations getting approved for children 12 and older, parents across the area are taking their kids to vaccination appointments.
Yes, your property taxes are rising — at the fastest clip in years
It isn't just gas prices and grocery bills that are rising sharply and hitting consumers hard. Higher property taxes also are beating up budgets from coast to coast.
U.S. homeowners have just been slammed with the largest average property tax hike the country has seen in the past four years, says real estate data provider Attom Data Solutions.
"But the latest tax numbers speak loud and clear about the continuing pressure on both recent and longtime homeowners to support the rising cost of public services," Tata adds.
The Day - Lamont: 'I don’t think we need any new taxes right now' - News from southeastern
We've been with you throughout the pandemic , and now as vaccines become more widely available, we are reporting on how our local schools, businesses and communities are returning to a more "normal" future . There's never been more of a need for the kind of local, independent and unbiased journalism that The Day produces.
Please support our work by subscribing today.
Question : Do you support imposing a digital tax, aimed at major social media companies such as Facebook and Google, given the potential that costs could be passed down to small and mid-sized companies?
Final day for taxes. What you need to know if you still haven’t filed | WCIA.com
CHICAGO, Ill. (WCIA) — We got an extra month, but the deadline is fast approaching. Tax returns are due tomorrow.
And this year, one group says thousands of people in Illinois could be leaving hundreds or even thousands of dollars on the table if they don’t know how to claim the expanded benefits.
For example, parents who make less than $112,500 can claim an advance on their child tax credit and get in line to get $250 to $300 a month in tax credits starting in July.
Tax Talk: Final Tax Talk of the season looks at the positives of paying taxes | Business |
Q. In just about every column, it appears you take a stance which seems to be against taxes. How about writing a column that points out some of the positive parts of taxes?
A. This reader and others requested a pro-tax effort. We're especially grateful to Professor Mary Ellen O'Connell, a member of the Notre Dame Law School faculty, who reminded us of a famous quote from Supreme Court Justice Oliver Wendell Holmes: " I like to pay taxes. With them I buy civilization."
Biden sees infrastructure compromise, despite Republican 'red line' on taxes | Reuters
U.S. President Joe Biden said on Wednesday he sees room for a compromise on his proposal for trillions of dollars in infrastructure spending after meeting with Republican leaders but will move forward without the opposition party if necessary.
In their first White House meeting since Biden, a Democrat, took office in January, Senate Republican leader Mitch McConnell and House of Representatives Republican leader Kevin McCarthy signaled a willingness to work with the president on infrastructure but drew the line at tax increases.
Happening on Twitter
IRS starts sending refunds to those who overpaid taxes on unemployment benefits https://t.co/rJmpUmAeNJ CBSNews (from New York, NY) Sun May 16 05:00:00 +0000 2021
No comments:
Post a Comment