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Federal Tax Updates Archive

What Is A Wage Garnishment?

TweetShareSharePin0 SharesWhat Is A Wage Garnishment? A wage garnishment is a legal procedure through which a percentage of a person’s earnings are withheld by an employer for the payment of a debt. Most wage garnishments are made by court order. Other types of wage garnishments are of legal or open procedures made by the IRS

Wisconsin Budget Surplus Presents Opportunity for Future Growth

TweetShareSharePin0 Shares As Wisconsin legislators work to finalize the state budget for the fiscal year (FY) 2022-23 biennium that begins July 1, the Wisconsin Legislative Fiscal Bureau (LFB) on Tuesday reported the state has substantially more revenue to work with than was anticipated when the LFB issued revenue projections earlier this year. Specifically, the LFB’s

Federal Refunds

TweetShareSharePin0 SharesFederal Refunds A Federal refund is one you may be entitled to for many reasons. The most common one that everybody tends to think about is for their income tax. The rules continue to change as to what you will be eligible for. Some people end up getting a few hundred dollars back. Others

Vaccine Lottery: Taxes on Lottery Winnings

TweetShareSharePin0 Shares Krispy Kreme may have started the vaccine incentive ball rolling, but many states are putting big money into the effort with vaccine lotteries. Unlike a normal lottery, no one is paying for tickets—but the tax collector still gets paid when someone wins. With lots of restricted spending COVID-19 relief funds and a substantial

Biden Would Raise Taxes Substantially for High Income Households and Corporations, Cut Taxes for Families with Children, According to A New TPC Analysis

TweetShareSharePin0 Shares Nearly all of President Biden’s proposed tax increases would be borne by the highest income 1 percent of households–those making about $800,000 or more—according to a new analysis by the Tax Policy Center. At the same time, Biden would cut taxes for many low- and moderate-income households and reduce them substantially for those

What Are The Taxes On Earnings?

TweetShareSharePin0 SharesWhat Are The Taxes On Earnings? Almost all governments across the globe are funded– in some form – by the taxation of its citizens. Certain of the taxes are collected at the time of sales or service whereas certain others in a 12 month period or at the end of what they call a

The Weekly (Tax)Buzz – June 9, 2021

TweetShareSharePin0 Shares If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from our favorite bloggers, US tax proposals, tax

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