WASHINGTON—A complex international corporate tax deal that took years to hammer out soon faces one of its toughest tests: the U.S. Congress.
The Group of 20 major economies backed the plan this weekend in Venice, Italy, following the earlier endorsement from a broader 130-country group .
Rethink the Order of Your Retirement Account Drawdowns. It Can Save You on Taxes.
The standard advice for retirees has long been to tap savings in taxable brokerage accounts and bank accounts first while not touching tax-deferred accounts such as 401(k)s or traditional individual retirement accounts until required minimum distributions kick in at age 72.
The problem is that this approach results in many retirees paying almost no tax early in retirement then getting hit with stiff tax bills in their 70s after they start collecting Social Security and begin required distributions from tax-deferred accounts.
Progressives pushing regressive taxes in California – Press Enterprise
The news that, as of July 1, several cities in very liberal Alameda County have increased their sales tax rate to a staggering 10.75%, got us thinking about how many of California's recent tax hikes have been regressive.
Here, it is important to define the terms. According to the Tax Foundation, a regressive tax is one where the average tax burden decreases as income increases.
Commentary: Michigan can help small businesses save on federal taxes
With a stroke of her pen, Gov. Gretchen Whitmer can increase tax savings for numerous Michigan small businesses without decreasing state revenue.
As unusual as it may sound, a change to state law can reduce businesses' federal tax burden. In fact, bipartisan supermajorities in the Michigan Legislature recently passed my bill to achieve just that, and it now anxiously awaits the governor's signature.
Lake Como Holds Line on Municipal Taxes in $3.8 Million Budget | TAPinto
Property Taxes by State | How High Are Property Taxes in Your State?
Today's map focuses on states' effective tax rates on owner-occupied housing. This is the average amount of residential property tax es actually paid, expressed as a percentage of home value.
Because property taxes are tied to housing values, it makes sense that the actual dollar amounts of property taxes tend to be higher in places with higher housing prices. This map takes housing value into account to give a broader perspective for property tax comparison.
July 15 Deadline To File Maryland State Taxes Quickly Approaching – CBS Baltimore
ANNAPOLIS, Md. (WJZ) — If you haven’t done it yet, time’s running out to file your state income taxes.
In March, the deadline was extended for three months because of the pandemic, as well as extensive state and federal legislation that changed tax forms extensively. There will be no interest or penalties as long as returns are filed and both taxes are paid by July the 15th.
Biden promotes corporate taxes in Illinois as business opposition mounts | Reuters
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U.S. President Joe Biden delivers remarks on his proposed "American Families Plan" legislation at McHenry County College during a visit to the northwest Chicago suburb Crystal Lake, Illinois, U.S., July 7, 2021. REUTERS/Evelyn Hockstein
CRYSTAL LAKE, Ill., July 7 (Reuters) - President Joe Biden made the case for spending trillions of dollars on U.S. infrastructure, paid for by higher taxes on corporations, at an Illinois community college on Wednesday, as opposition builds from U.S. business groups.
Biden aide Ricchetti and lobbyist brother take opposite sides in Congress over fight over
The brother and former business partner of a top White House adviser has been hired to lobby Democratic senators to oppose a central plank of President Biden's legislative agenda that would raise taxes on the inheritors of large estates.
3 quick ways to see if you're eligible for the July 15 child tax credit payment - CNET
Here's a recap. Parents with an income of less than $150,000 (married and filing jointly) will get a max of $300 for each child under the age of 6 and $250 for each child ages 6 to 17 in monthly advance payments through the end of the year.
If the IRS says you're pending eligibility you won't start receiving payments until you've been approved. You can check the status of your eligibility using the Child Tax Credit Update Eligibility Portal.
Happening on Twitter
Boris Johnson presses for global Mob/dictatorship money laundering and tax evasion to be exempt from global tax dea… https://t.co/GDI7mr8qaz ericgarland (from USA) Sat Jul 10 15:21:32 +0000 2021
A Biden victory on global minimum tax could deal a big blow to Trumpian nationalism https://t.co/XotQvz3qiU joncoopertweets (from New York) Sun Jul 11 15:35:36 +0000 2021
#BREAKING G20 ministers endorse global tax deal: source https://t.co/p0SonJsDJT AFP (from France) Sat Jul 10 15:28:34 +0000 2021
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