Taxes

On April 3, House Ways and Means Committee Chair Richard Neal wrote to the IRS requesting six years of President Trump’s  personal income tax returns as well as the returns for eight of Trump’s more than 500 business entities. Neal wants to determine whether the IRS is auditing the President in a fair and impartial manner. And
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“Anticipation is makin’ me late… keepin’ me waitin’…” The IRS has until April 23 to provide President Trump’s tax returns to the House Ways & Means Committee. Panel chairman Richard Neal wrote a second letter to the IRS Commissioner Charles Rettig requesting the past six years of the president’s returns. He wrote that Treasury’s concerns
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North Carolina Senate Finance Committee Chairs Ralph Hise (R), Paul Newton (R), and Jerry W. Tillman (R) this month introduced Senate Bill 622, the Tax Reduction Act of 2019. This bill includes several tax changes, but the most notable proposed structural improvement is a provision to reduce and cap the state’s franchise tax. North Carolina
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When “shall” means “not any time soon.” To the surprise of no one, Treasury Secretary Steven Mnuchin refused to comply with House Ways & Means Committee chair Richard Neal’s request for the past six years of President Trump’s tax returns by Neal’s deadline of yesterday. Mnuchin claimed the request was partisan, though the law appears
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Getty Ready to file your federal income tax return? If you owe taxes, don’t forget to pay what you owe by Tax Day. If you pay your taxes in full by April 15, 2019, you’ll avoid additional penalties and interest. Here are several options for paying your tax bill this year: 1. Pay by cash. It
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As April 15 approaches, it is fashionable to complain about how complicated the tax system is. And it is. But it’s time to recognize that, by providing “one-stop shopping” for a wide range of public programs, the income tax simplifies citizens’ interaction with government. Legislators have chosen to run many social programs through the tax
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Taxes down, refunds up. That is the experience of H&R Block clients, at least. The firm reports that as of March 31, its clients’ tax refunds were up by 1.4 percent while their overall 2018 tax liability fell by 24.9 percent on average.  Just in time for April 15: TPC’s tax calculator. TPC’s updated online tax calculator shows
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