Tag Archives: taxes

[unable to retrieve full-text content]Taxes 2023: Here’s what to do if you can’t pay your tax bill  Yahoo Finance Source link

[unable to retrieve full-text content]Yahoo News: Flat Income Taxes: Who Are the Biggest Winners and …  Just Taxes Blog Source link

[unable to retrieve full-text content]Yahoo Money: The Fair Tax Act Aims to Abolish the IRS and Set a …  Just Taxes Blog Source link

After you file your taxes, you probably don’t want to think about them again until the next year. But if you’re too aggressive with certain deductions or credits, that could trigger an audit from the Internal Revenue Service (IRS). If you get an IRS notice — official correspondence will only come through the mail — you should respond promptly with the requested documentation like bank statements or donation letters from charities. Typically, if your taxes are under review, the IRS will… Source link

About 60% of lower-priced homeowners may pay higher property taxes than their counterparts who own more expensive homes, according to a new study released Tuesday. Why? Owners of those higher-valued properties, ranging from $500,000 to $1.2 million, are at least two times more likely to appeal their property taxes and possibly pay far less, said Ownwell, a property-based startup in Austin, Texas. The amount of appeals depends on the county and the state. For example, homeowners of higher-value… Source link

Just days after millions of Americans rushed to file their taxes, a new report has revealed just how adept many of the country’s biggest companies remain at avoiding taxes. Nineteen companies among the Fortune 100 paid a rate of less than 10% on their profits when it came to their 2021 federal income taxes. And four of those companies even managed a negative rate — meaning they will effectively enjoy a refund from the federal government, according to a new analysis from the left-leaning… Source link

On Friday, three days ahead of tax day for most Americans, President Joe Biden and Vice President Kamala Harris released the completed tax returns from their first year in office. In a notable contrast to former President Donald Trump, Biden has now made 24 years of his tax returns public. Harris has released 18 years of her returns. Biden, 79, filed jointly with his wife Jill, reporting an adjusted gross income of $610,702. The majority of their money came from their salaries. Jill Biden, a… Source link

Google’s Irish subsidiary has agreed to pay €218m (£183m) in back taxes to the Irish government, according to company filings on Thursday. The US tech giant, which had been accused of avoiding hundreds of millions in tax across Europe through loopholes known as the “Double Irish, Dutch Sandwich”, said it had “agreed to the resolution of certain tax matters relating to prior years”. Google Ireland Ltd said it would pay corporation tax of €622m in 2020, including the €218m… Source link

Corporate tax increases are necessary for the U.S. to better compete globally, U.S. Commerce Secretary Gina Raimondo told Yahoo Finance Live in an interview. House Democrats are out with a proposal to raise the tax rate on companies with income of at least $5 million to 26.5%.  “If American business is going to compete, we need these investments,” Raimondo said. “And then the question is, how do you pay for them. I don’t know any business leader who thinks that it would be… Source link

U.S. House Ways and Means Committee Chairman Richard Neal (D-Mass.) promises the $3.5 trillion budget reconciliation bill will, “both address our perilously changing climate and create new, good jobs, all while strengthening the economy and reinvigorating local communities.” But Maya MacGuineas, the president of the nonprofit Committee for a Responsible Federal Budget, said politicians are punting on taxes and the promise to bring the bill in on budget. “What we’re seeing coming out of the… Source link