Meanwhile, those earning around $885,000 or more, the top 1% of households, would pay around $55,000 more in taxes in 2022. And those in the top 0.1% — those making $4 million or more — would pay an additional $585,000, per the report.
Chicago's New Budget Contains Harmful Taxes and Unsustainable Programs | Citizens Against
Chicago residents seeking a reprieve from high taxes and wasteful spending will find themselves out of luck under the city's $16.7 billion fiscal year (FY) 2022 budget , a 30 percent increase over FY 2021. Mayor Lori Lightfoot (D) called it "the most progressive ever in the history" of the city.
Hawaii Sues State's Largest Oil Refiner For Alleged Unpaid Taxes - Honolulu Civil Beat
The whistleblower suit against Par Hawaii could have repercussions for other companies operating in Hawaii’s foreign trade zones.
The State of Hawaii has sued the state's largest oil refiner, alleging the company relied on a flawed interpretation of state tax law to skirt paying tens of millions of dollars in taxes annually for an unknown number of years.
Nicholas Goldberg: Why shouldn't the super-rich pay higher taxes? - Los Angeles Times
There has always been a troubling gap between rich and poor in this country. But these days, it's grown worse.
Billionaires with unimaginable, unspendable fortunes go full years without paying any federal income taxes at all. Meanwhile, ordinary workers' wages have been stagnant for decades, and poor people are sleeping in miserable tent encampments on city streets.
2022 Tax Brackets: How Record-Breaking Inflation Will Affect Your Taxes - Crossroads Today
The federal agency announced Wednesday that it's adjusting the standard deduction, income tax rates and dozens of other tax provisions for 2022.
Because of the way tax filing years work, the changes affect the tax returns most Americans will submit in spring 2023. (The IRS issues these adjustments every fall, so the announcement is normal even though current inflation rates are certainly not.)
Child Tax Credit Recipients: How To Prepare Your Taxes for 2022 According to IRS Guidelines
For those who do not pay taxes and/or do not make enough money to pay taxes, this will likely not apply to you, and you will not have to do anything further for either this year or next year's taxes.
CTC payments were determined this year using 2019 or 2020 tax returns (again, for those who pay taxes). During the 2-3 year timespan between then and next year at tax time, however, it's possible that your income may have changed, and that you now surpass the income threshold to receive the CTC.
Health, Taxes and Savings - Government Executive
We're one week into the 2021 federal benefits open season , but you still have plenty of time—until Dec. 13—to make changes to your health plan choices.
One choice that's growing in popularity in the Federal Employees Health Benefits program is high deductible health plans, which have been available through FEHB since 2005. Some participants in HDHPs can establish health savings accounts to pay for medical expenses.
Congressman Webster misrepresents proposal to raise taxes on the ultra wealthy - Villages-News.com
Congressman Webster makes a generalized statement that Democrats want to raise taxes on “unrealized capital gains." The reality is that the Democrats want to raise taxes on “interest carry forwards” used by hedge fund managers to transfer income into the future.
Wisconsin taxes as share of income dropped more than most states over past 20 years | Local
In 1999, state and local governments in Wisconsin took in $17.4 billion from taxpayers, or about 12.2% of total personal income — the fourth-highest percentage in the country.
That 1.87 percentage point drop was the biggest decrease in the nation over the 20-year span, according to the forum.
Column: State sending windfall from taxes on cannabis to help people in south suburbs - Chicago
"These funds have been really timely for doing work in communities of disinvestment," said Pam Terrell, executive director of Metropolitan Family Services Southwest.
The state awarded the agency $1.1 million in January to expand programs serving Harvey, Riverdale, Dolton, Blue Island, Robbins and other communities. The grant was among $31.5 million awarded to 80 organizations in the inaugural round of funding through the Restore, Reinvest and Renew program.
Happening on Twitter
Not one, not two, not three, but seventeen Nobel prize winning economists say that passing Build Back Better will e… https://t.co/nDZAtowkkP POTUS Fri Nov 12 14:32:22 +0000 2021
Biden's Build Back Better will hike taxes on 30% of middle-class families https://t.co/IX5CesAx7h https://t.co/puFM5aj6kX nypost (from New York, NY) Fri Nov 12 12:37:40 +0000 2021
Did you know that the Build Back Better plan includes $5 BILLION for modernization of veteran health facilities and… https://t.co/gd84Q6AIKt votevets (from United States) Thu Nov 11 18:11:11 +0000 2021
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