Thursday, March 1, 2018

Google Alert - tax

Google
tax
Daily update March 1, 2018
NEWS
Cryptocurrencies are all the rage today, but come tax season they might only cause you rage. The reality is that one driving force behind cryptocurrency development was a desire to be outside the view, control, and domain of governments. However, they cannot escape the IRS. Not only do ...
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The lieutenant governor in Georgia threatened on Monday to kill a proposed lucrative tax cut for Delta Air Lines after the company eliminated a discount fare program for the National Rifle Association over the weekend. The move by Lt. Gov. Casey Cagle, who presides over the State Senate, immediately ...
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It's a good practice to take a look at your withholding to make sure you're deducting the correct amount of taxes under the new legislation. "You don't want a big refund, where you're giving an interest-free loan to the government," said Melissa Labant, director of tax policy and advocacy at the American ...
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Even though most of us know the basic mechanics of how the federal income tax works, finding out exactly what tax bracket you're in — and how that translates into how much of a refund you'll get (or taxes you'll owe) — isn't always simple. Let's start with the first question: What are tax brackets?
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President Trump promised that his tax cut would encourage companies to invest in factories, workers and wages, setting off a spending spree that would reinvigorate the American economy. Companies have announced plans for some of those investments. But so far, companies are using much of the ...
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Health plans that don't meet the standards of the Affordable Care Act; work requirements for Medicaid coverage; changes to Medicare's approved drug lists: As the ground continues to shift on health care coverage, I'm answering readers' queries this week about these three different types of plans:.
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Georgia's lieutenant governor has threatened to block a proposed tax break for Delta Airlines unless the Atlanta-based carrier restores a discount program for National Rifle Association members that was pulled in the wake of the shooting in Parkland, Fla., earlier this month. In the latest fallout from the ...
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Republican committee members were split 5-5 on the tax increase, with Democratic members providing the necessary votes for advancement to the full House. House Bill 293 would freeze the rate of a statewide property tax, known as the basic levy, that currently adjusts downward as property values ...
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In the two months since President Trump signed the $1.5 trillion tax bill into law, a vast arsenal of spreadsheets has begun to capture, in real time, the effect of the tax cut as it works its way through corporate balance sheets. Traders are compiling data to find value in a volatile stock market. Advocates of ...
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The state Senate on Monday passed a bill allowing New Jersey's towns, counties and school districts to set up charitable funds to accept property taxes and foil President Donald Trump's tax reform, despite concerns the scheme won't get past the Internal Revenue Service. The bill (S1893), approved ...
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A constitutional amendment (ACA-22) pending before the California General Assembly would more than double the state's corporate income tax rate, yielding the nation's highest rate–an astonishing 18.84 percent, up from the current rate of 8.84 percent. Assemblyman Kevin McCarty (D), one of the lead ...
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States are fast approaching a deadline set by the new tax law to designate low-income neighborhoods as "Opportunity Zones"—a designation that will unlock favorable capital gains treatment for investments in those areas. Supporters say this will help revitalize distressed communities, but there is a risk ...
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Appalled by federal tax cuts for businesses, passed by Republicans alone last year, two Democratic members of the California State Assembly have proposed an amendment to the state constitution that would impose a "windfall" tax surcharge on corporations that earn more than $1 million. The money ...
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NASHVILLE, Tenn. — Jack Daniel's is turning to state lawmakers to ensure that distillers aren't subject to property tax on whiskey barrels in Tennessee, which the company says it hasn't had to pay since at least the end of Prohibition eight decades ago. The whiskey giant is pushing a liquor barrel ...
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Tax Refund Challenge: Pay Your Fixed Costs. Richard Gano , Contributor I ... While tax season started on January 29 and you have had about a month to file, I wanted to share what I would do with the money from my tax refund. Last year the average tax refund was $2,782. As a law student, my refund ...
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Known to many as the "Sports Tax Man," Raiola, director of the Sports & Entertainment Group at accounting firm PKF O'Connor Davies, and a regular contributor to Sports Illustrated magazine, also manages the finances of many coaches, sports broadcasters, professional sports executives, and team ...
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Since President Donald Trump signed the American Tax Cuts and Jobs Act in December, large corporations have made headlines by giving bonuses to employees and raising wages. But much less attention has been paid to small businesses, even though experts believe they stand to benefit ...
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Efforts by governments to secure more tax from large US technology companies have taken an unexpected turn in the UK. Mel Stride, financial secretary to the Treasury, surprised the tech industry last week by saying that a tax on revenues was the "potentially preferred option" arising from a British ...
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In sum, the GOP tax cut is raising wages (except it isn't); it's good for stocks (except the market has been a nauseous mess all year); and it's poised to grow the economy—so much so that the Fed is determined to choke off inflation and discourage more business investment, which will hurt economic ...
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Democrats may be starting down the same path on taxes. From New Mexico to New York, high-profile liberals are calling for the repeal of the Republican tax plan that President Donald Trump signed into law just two months ago. They're betting big that the message will resonate with voters in the ...
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Did you know that not everyone is required to file a tax return? If your income falls below a certain level, the exemptions and deductions you're entitled to claim can be more than the income you've earned. In that case, you would have no taxable income to report and no need to file a return. For example ...
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Along with the regular tax filing requirements that everyone else must face, individuals who hold financial accounts in foreign countries must submit additional reports to federal agencies. Americans with accounts abroad have until April 17 to file a report of Foreign Bank and Financial Accounts (FBAR) ...
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Generally, you have a choice when deciding how much to pay in estimated taxes each quarter. You may either: Pay an amount that over four quarters adds up to at least 90% of what you think you'll owe Uncle Sam for 2018. Or, pay an amount that paid quarterly will add up to at least 100% of what you ...
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The comparable risk for Democrats this year is that they will be caught in an endless succession of Trump-centered battles—both cultural (guns, immigration) and personal (Russia, White House chaos)—and fail to effectively challenge the GOP claim that its tax-cut plan is benefiting average families.
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We're only a couple of months into the new year, yet accountants are already drafting strategies to help their clients save on taxes under the new tax code. A survey from the American Institute of Certified Public Accountants showed that 63 percent of affluent individuals said they were likely to tweak their ...
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In the House Speaker's apparent estimation, the fact that this secretary had gained a full $6 in monthly income was a devastating rebuttal to the tax law's progressive critics. After all, how could any sincere advocate for the middle class object to a $1.5 trillion tax cut that delivers the bulk of its benefits to ...
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Tax avoidance is not new to Amazon. "More so than any company I can think of," Gardner told me, "Amazon appears to have built their profit maximization strategy around avoiding taxes at various levels." Amazon has used local, state, and federal tax laws to its benefit, while doing everything in its power ...
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Traders, eligible for trader tax status, should consider attaching a 2018 Section 475 election statement to their 2017 tax return or extension due by April 17, 2018, for individuals, or by March 15 for partnerships and S-Corps. Section 475 turns capital gains and losses into ordinary gains and losses ...
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That allows you to deduct more of your income and pay less in taxes. Apply for the Earned Income Credit. Phillips said one in five eligible people for the credit don't claim it. The qualifications for the credit change nearly every year, but Phillips recommends you check into your eligibility every time you file.
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American workers will see only a small portion of the massive windfall of money going to companies following corporate tax reform, according to a new analysis from JUST Capital. With the corporate tax rate dropping from 35% to 21%, many companies have announced plans to hike wages and give out ...
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This article originally ran in Term Sheet, Fortune's newsletter about deals and dealmakers. Sign up here. Nine years ago, Hugh MacArthur, the head of Bain's global private equity practice, decided to release a global private equity report because many of the studies focused on PE were inaccurate, ...
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A flyer from the committee warns about measures like Seattle's tax on sweetened beverages spreading to other communities and other products. "Pro-tax advocates are pushing for special taxes on basic foods they dislike, such as meat," the flyer claims. The committee won't try to roll back Seattle's ...
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A legislative proposal for a 25% increase in the federal gas tax, supported by the White House, could inadvertently help the repeal efforts in California, CNBC's Jeff Daniels wrote recently, quoting Jon Coupal, the president of the Howard Jarvis Taxpayers Association, which initiated the repeal petition.
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The Iowa Senate approved a sweeping tax reform bill Wednesday night that is expected to slash state revenue by nearly $1.2 billion annually. Republicans cheered it as a "bold" move that paves the way for economic growth, even as Democrats warned it would take a "wrecking ball" to the state's $7.2 ...
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Between new cost estimates and the White House's own budget numbers, the wheels are coming off Republican claims that President Donald Trump's tax cuts will pay for themselves by generating increased growth and government revenues over the next decade. "Not only will this tax plan pay for itself ...
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Discussions were expected to continue into the night, with House leaders still hoping to vote on the tax and budget bills that would make up any bipartisan deal Wednesday morning. "I'm not sure there have been any significant breakthroughs to make a compromise and move forward," said Speaker Pro ...
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Gov. Jerry Brown's office has to find another $617 million for his next budget because a tax-collecting agency he gutted last year has used some of its waning authority to reject a 4-cent increase in fuel taxes. Normally, the Board of Equalization's annual requirement to set fuel tax rates is almost automatic ...
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Filing taxes can be complicated, but a simple mistake or a slight exaggeration could warrant an audit from the Internal Revenue Service. Here's how someone is chosen for an audit: An IRS software program may randomly select the taxpayer and compare the return to other similar returns to detect any ...
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Rick Snyder signed tax cut legislation that will save a family of four a little more than $100 a year and cost the state Treasury about $180 million a year, once fully implemented. "We want to keep our taxpayers happy" and "we've got an opportunity to give them a break today," Snyder said at a bill-signing ...
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During former Mayor Nutter's two terms, city council voted four times to increase the property tax rate. The size of Kenney's proposed tax increase won't be made public until Thursday; even then, city council could change it before passing the budget. Philadelphia is also exempt from a state law that ...
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Officials extended the deadline for online payment of Cook County property taxes an extra day, to just before midnight Friday, because of a glitch in the county contractor's online payment system Wednesday. The glitch that knocked out JPMorgan Chase's online tax-payment system began about 10:30 ...
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Legendary macro trader Paul Tudor Jones has issued caution about Congress' $1.5 trillion tax cut. "I think the recent tax cuts and spending increases are something we will all look back on and regret," Jones said in an interview with Goldman Sachs sent to the bank's clients in a note Wednesday.
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With less than three weeks until election day, Democratic Cook County Assessor Joe Berrios went to court in an effort to keep the spigot flowing on campaign contributions from property tax appeal lawyers whose livelihoods can depend on the decisions his office makes. On Wednesday, Berrios' lawyers ...
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In this first episode of Planet Money Shorts, witness the making of an automotive juggernaut — the story of how a tax on frozen chicken wound up defining the U.S. market for trucks. With some acting help from various NPR employees (read: definitely not professional actors), it's the story of "The Chicken ...
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Democrats maintain higher sales tax rates are more of a burden for people who are poor. But they've said they're willing to consider an increase if Republicans agree to pare back a state income tax deduction that largely benefits wealthier residents. The GOP typically doesn't support any tax increases, ...
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In the first Kentucky budget crafted by House Republicans in nearly a century, the party of limited government wants to raise taxes to better fund education. In a budget plan unveiled Wednesday, House Republicans proposed three tax increases they said would raise about $500 million over the next two ...
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"I just don't think we should have a tax without having a (district-wide) plan. When you go to these presentations, you hear different things," he said. Lucito said the district's effort to develop a plan have, for him, lacked the necessary transparency to convince him to favor the proposition. The propositions ...
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Now New Jersey Democrats have gotten on board with a plan they hope will thwart Trump's gutting of your state and local tax deductions. They would let you classify your property tax payments as charitable contributions. Lawmakers say this strategy is the best shot right now of sidestepping a law they ...
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The debate is no longer about cultivators, Smith said, but about the whole county because as growers lose their investments, the county would lose its tax money. Local businesses will lose money because growers won't be around to purchase equipment and supplies at their stores, he added.
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Of the companies in the S&P 500, about 44% have said they plan to reinvest some portion of their tax gains into capital expenditures or wages, while 28% said they would use them to increase shareholder returns, Morgan Stanley found in an analysis of earnings transcripts. Its own analysts expect ...
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WEB
The JUST Capital Rankings on Corporate Tax Reform
In 2018, the Russell 1000 companies we track and analyze for our rankings are set to receive a tax windfall of nearly $150 billion. How will companies distribute this money?
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The Income Tax officer who won a Shaurya Chakra
Captain Pradeep Shoury Arya is an Income-Tax officer whose mission against terrorists in J&K won him the Shaurya Chakra. | The Income Tax officer who won a Shaurya Chakra.
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UH-OH: Democrats 'Surge' On Generic Congressional Ballot After Tax Break Honeymoon Ends
A new CNN poll shows Democrats are back up to a double-digit lead over Republicans in the generic ballot now that initial excitement over the GOP's tax cut plan has worn away. The survey released Monday "put the Democratic advantage in the congressional generic ballot at an eye-popping 16 points ...
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Andersen Tax & Legal
Andersen Tax & Legal is a firm of attorneys and tax consultants in Cologne, Dusseldorf, Leipzig, Frankfurt aM and Merzig.
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Other States Court Delta After NRA Tax Dispute
With the Georgia Legislature and Delta Air Lines battling over the NRA, other states are actively courting Delta to relocate. More on the Delta NRA Tax Dispute and which states want to offer Delta a new home.
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Germany just made all cryptocurrencies legal and without paying tax
Germany won't tax bitcoin users for using the cryptocurrency as a means of payment. Not if you cash it out into fiat. So if you were to trade it for a cup of coffee or a new Lamborghini, you dont get charged a capital gain. But if you exchange it for fiat, then you get taxed. They essentially made it legal tender.
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Who pays Council tax
If you are over 18 and rent or own a property you will probably have to pay Council tax.
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Stay Connected
Deal's remarks from tax reform legislation press conference. February 28, 2018. In the world of politics… in this diverse state of more than 10.4 million people… in the halls of this historic building, there are many different and passionate voices. We are currently in a time of heated debate about a very ...
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On Selective Indirect Tax Reform in Developing Countries
The current consensus on indirect tax reform in developing countries favors a reduction in trade taxes with an increase in VAT to raise revenue. The theoretica.
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Church of the Holy Sepulchre to reopen after tax spat
JERUSALEM (AP) — Christian leaders said they will reopen the Church of the Holy Sepulchre in Jerusalem after Israeli officials suspended a plan to impose taxes on church properties in the holy city. Major denominations, including the Roman Catholic and Greek Orthodox churches, said in a statement ...
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Georgia lawmakers inch closer to removing Delta's tax exemption CNN
On Wednesday, the Senate Rules Committee agreed to remove a jet fuel tax exemption from a bill that could hit the Senate floor on Thursday.
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Viaggio nella Lettonia post flat tax
A lanciare il sasso nello stagno è stato l'Istituto Bruno Leoni: tassa piatta al 25% e abolizione dell'Irap e dell'Imu. Nel programma elettorale di Forza Italia, invece, l'aliquota unica è fissata al 23%. La Lega, infine, scende fino al 15%. La flat tax è tornata prepotentemente nel dibattito elettorale in vista del 4 ...
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Buy or Lease a New Ford with My Tax Refund in Corpus Christi, TX
Tax Season is here and that means your 2017 tax refund is on its way! As you've been filing your taxes, the team at Sames Ford Corpus Christi has been thinking of new ways to help you buy or lease a new Ford, and this year it involves your 2017 tax refund. For a limited time only, our Ford dealership in ...
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Tax Withholding
The Tax Cuts and Jobs Act changed the way tax is calculated. The IRS encourages everyone to perform a quick "paycheck checkup" to ensure you have the right amount withheld. For employees, withholding is the amount of federal income tax withheld from your paycheck. The amount of income tax ...
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Shocker: Democrats predictions about the GOP tax cut are coming true
When Republicans put together their tax bill last year, it was not much of a surprise to see that its centerpiece was a gigantic corporate tax cut, lowering the statutory corporate rate from 35 percent down to 21 percent. This cut accounted for about $1 trillion of the bill's total $1.5 trillion cost, but Republicans ...
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North Carolina Tax Cuts Have Worsened Racial Wealth Inequities
Tax cut proponents claim that North Carolina's tax cutting is a model for other states that want to boost their economies, but the tax cuts not only produced no economic surge and set the stage for large budget deficits to come, they also worsened racial wealth inequities. North Carolina already has ...
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Online Filing of the Personal Income Tax Return by an Accredited Person
Online Filing of the Personal Income Tax Return by an Accredited Person. TP-1000.TE-V. This form is for use by any individual who has his or her personal income tax return filed online by an accredited person (hereinafter "preparer"). Our downloadable documents may not comply with Web accessibility ...
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TP-1029.LR-V
LogiRénov Home Renovation Tax Credit. TP-1029.LR-V. This form must be completed by any individual who wishes to claim the LogiRénov home renovation tax credit on his or her 2015 income tax return. Our downloadable documents may not comply with Web accessibility standards. If you are having ...
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