Saturday, November 20, 2021

Who will pay more taxes under new spending bill - The Washington Post

At the center of Democrats' more than $2 trillion proposal is a series of significant changes to federal tax laws.

The ideas stop short of repealing the tax cuts enacted under President Donald Trump four years ago, a pledge that Biden and his fellow Democrats made repeatedly throughout the 2020 election. But they do address what Democrats long have described as known deficiencies in an unfair system.

Publisher: Washington Post
Date: 2021-11-19T14:53:01.952Z
Twitter: @WashingtonPost
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Who pays America's taxes? | The Week

During the debate over spending bills, Democrats proposed raising taxes on the wealthy. Do the rich pay a fair share? Here's everything you need to know:

Generally, a much lower percentage of their incomes than the middle class. A White House study released in September found that America's 400 wealthiest families paid an average federal income tax rate of just 8.2 percent from 2010 to 2018.

Publisher: The Week
Author: The Week Staff
Twitter: @TheWeek
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You're more likely to have FAFSA verified than have taxes audited

But confusion around the form leads students to miss out on billions in aid each year and now, experts are calling attention to the ways in which the student aid process can create challenges for students.

"Anywhere from 17 million to 21 million postsecondary students complete the FAFSA annually," reads a new report titled " The Burden of Proof: Impact of and Solutions for FAFSA Verification " by the National Association of Student Financial Aid Administrators (NASFAA) and the National College

Publisher: CNBC
Date: 2021-11-19T16:22:22 0000
Author: https www facebook com CNBC
Twitter: @CNBC
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SALT Deduction That Benefits the Rich Divides Democrats - The New York Times

"I think they're struggling to maintain their professed support for taxing the wealthy, yet they are providing a huge tax windfall under the SALT cap," said Representative Kevin Brady of Texas, the top Republican on the House Ways and Means Committee, referring to the acronym for state and local

Date: 2021-11-18T20:18:47.000Z
Twitter: @nytimes
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New Yorkers Could Deduct More State & Local Taxes Under House-Approved Biden Bill

The federal cap on state and local tax deductions, approved by Congress four years ago, could be raised from $10,000 each year to $80,000 through legislation narrowly approved Friday by the U.S. House of Representatives.

The bill now moves to the U.S. Senate, where it's fate is less clear. Republicans approved the initial $10,000 cap four years ago, and haven't shown much interest in changing it.

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Publisher: New York NOW
Twitter: @NYNOW_PBS
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Supervisors Eye Higher Homeowner Taxes, Cuts for Data Centers - Loudoun Now

Homeowners could see their taxes go up and data centers could get a tax break next year as Loudoun supervisors wrestle with a tight budget year and concerns about an over-reliance on data center revenues.

The board's finance committee has recommended directing County Administrator Tim Hemstreet to propose a budget based on a real estate tax rate five cents above the equalized tax rate at which the average real estate tax bill is the same dollar amount despite climbing property values.

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Publisher: Loudoun Now
Date: 2021-11-19T15:40:35 00:00
Twitter: @loudounnow
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Elon Musk sells $8.8B in Tesla shares to pay taxes on stock options

Shares of department store chain Macy's gained more than 17% after the company reported a third-quarter earnings beat and said it is working with consulting firm AlixPartners to review its business structure.

Third-quarter earnings season continues to wind down in the holiday-shortened week ahead with reports from Zoom Video Communications on Monday and Medtronic, Dell Technologies and HP on Tuesday.

Publisher: Detroit Free Press
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The Infrastructure Bill Was Signed Into Law: What Does it Mean for You and Your Taxes? - TheStreet

President Biden signed the $1.2 Trillion Infrastructure Bill into law today providing investments into America’s infrastructure, so you may be wondering “what does the Infrastructure bill mean for my taxes?”

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Publisher: TheStreet
Date: 2021-11-20T13:00:00Z
Author: TurboTax
Twitter: @thestreet
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