Taxes

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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photo credit: Getty Getty The Tax Cuts and Jobs Act (TCJA) did nothing to change the long-standing opportunity for taxpayers to make a direct contribution – up to $100,000 annually – from an IRA to a qualified charitable organization.  Such distributions do not generate taxable income and still satisfy one’s annual required minimum distributions (RMDs),
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Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses delayed retirement credits (DRCs) in the absence of filing and suspending, when DRCs can be earned, eligibility for both retirement and widow(er)’s benefits, public pensions and benefits and maximizing
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Mnuchin says Treasury lawyers consulted with White House lawyers about President Trump’s tax returns. In testimony before a House appropriations subcommittee, Treasury Secretary Steven Mnuchin acknowledged the White House was trying to influence Treasury’s  decision on whether to release Trump’s tax returns in response to a request by Congress. Mnuchin said while he had not
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The Tax Cuts and Jobs Act hasn’t done much cutting, according to a new survey. One week from Tax Day, and a new NBC News/Wall Street Journal poll finds that only 17 percent of respondents believe their taxes will go down as a result of the 2017 GOP tax law. Of those surveyed 28 percent
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Bronze statue of Albert Gallatin (1761-1849), the longest serving US Secretary of Treasury, stands before the Treasury Department in Washington, DC. Getty Last Thursday the Real Property, Trust & Estate Law Section of the American Bar Association sponsored a webinar that Treasury lawyers Audrey Ellis and Wendy Kribell participated in. Steve Gorin, J.D., and Robert
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See you in court? President Trump has asked Attorney General William Barr to review House Ways & Means Chairman Richard Neal’s request for six years of the president’s tax returns. White House chief of staff Mick Mulvaney told Fox News yesterday that Neal will “never” see the returns and Trump’s attorney  William Consovoy called Neal’s
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