Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
The Trump administration may deliver on its promise to reduce a commonly used tax form to postcard size, but it does not shrink the workload for many Americans filling out their taxes. A draft copy of the new 1040 income tax form given to The Associated Press by a staffer on the Ways & Means Committee shows that the form will be reduced from two full pages to a double-sided half page.
Under sharp questioning from some Democratic senators, President Donald Trump's choice to head the IRS promised on Thursday to work for the benefit of ordinary taxpayers in administering the massive new tax law. Charles Rettig is a Beverly Hills tax lawyer who has represented thousands of individuals and companies in civil and criminal tax matters before the agency and against it in court.
In July 2008, special agents from the FBI Sacramento Field Office executed a search warrant at the residence of a suspect and interviewed other individuals in connection with a mortgage fraud investigation. In addition to finding evidence for their own case, investigators uncovered ties to what appeared to be a separate mortgage fraud scheme, and FBI Sacramento opened another case, working in partnership with the Internal Revenue Service Criminal Investigation.
A group of related companies involving the same pair of men in Utah can no longer say its solar lenses are eligible for energy tax credits after a federal judge issued a narrow injunction on Friday. International Automated Systems, RaPower3 and Xsun Energy must pull any promotional material from the company websites if it purports tax benefits from lens purchases and also must post a notice from the U.S. District Court for Utah that any tax information on the solar lenses is false.
The November "blue wave" that was supposed to give Democrats, at minimum, control of the House next year has been less of a sure thing lately -- that is, if anyone still puts any stock in polls.
"Heitkamp's talk of deficits is pure speculation and none of it takes into account the economic growth the Trump pro-growth agenda is delivering." - statement on the website Get the Facts ND, June 4, 2018 One pernicious response to the growth of political fact-checking is the trend by politicians to create their own faux fact-checking websites.
Among the hottest of the hotly debated issues facing Oklahomans right now, nothing may be more of a flash point than the recent pay raises passed for teachers. Those raises are set to be funded by the largest tax increase in state history.
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more! News you use every day! Daily, Daily including the e-Edition or e-Edition only. Choose your news! Select the text alerts you want to receive: breaking news, prep sports scores, school closings, weather, and more.
The Louisiana Legislature only has until midnight Monday to meet a deadline to resolve its budget crisis. If lawmakers can't reach a consensus on spending and taxes, they will need to come back to Baton Rouge for another legislative session, the fourth one this year.
On May 23, 2018, the Department of the Treasury and the Internal Revenue Service issued Notice 2018-54, stating that proposed regulations will be issued addressing the deductibility of certain payments made by taxpayers to state-operated charitable funds and entities in exchange for a partial credit against their state and local tax liability. The notice provides no actual guidance except to remind taxpayers that federal law controls the characterization of such payments for federal income tax purposes, regardless of their tax treatment under state law.
Tax experts for global corporations are hot on the trail of loopholes in the sweeping tax law approved in December by President Donald Trump and Republicans in the U.S. Congress. Barely five months since it took effect, the law is already yielding potential tax-dodge gimmicks, from revising cross-border payments to substituting bank loans for internal debt.
Today, the Champaign News-Gazette published an editorial criticizing JB Pritzker and Mike Madigan for failing to release specifics on their graduated income tax hike. The News-Gazette forecasted that raising the overall rate from 4.95 to 5.95 seems likely, which would mean a 20 percent income tax hike on every single hardworking taxpayer in Illinois.
Republicans who control the Minnesota Legislature are testing Gov. Mark Dayton's resolve with a bill that syncs Minnesota taxes with the federal overhaul. The House passed the bill Tuesday on a 78-50 vote despite the Democratic governor's promise that he would block that legislation until lawmakers provide emergency funding for public schools.
The White House's wish list once comprised a sweeping infrastructure measure, overhauling the federal welfare program, another try at tax cuts and an immigration bill. But now, only the final item makes the list with the midterm elections fast approaching.
Two Democrats say they're vying for the House District 36 seat for the same reason: to fight for the state's underserved population. Businessman Darrell Stephens, 44, is challenging incumbent Rep. Charles Blake, 35, who is running for his third two-year term.
The federal tax overhaul cut taxes for millions of American families and businesses. But the law also had an unintended effect: raising the state-tax bite in nearly every state that has an income tax.
In just a few months, we've seen teachers in five states walk out of the classroom to protest their abysmal pay. Stingy state budgets are mostly to blame for low teacher pay and poor school conditions, but there's a federal tax connection, too.