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Federal Tax Updates Archive

Biden’s Tax On Large Capital Gains At Death Will Catch A Few With Annual Incomes Of Less than $400,000

TweetShareSharePin0 Shares President Biden’s campaign promise never to raise taxes on those making $400,000 or less annually will inevitably conflict with his proposal to tax unrealized capital gains at death. We estimate Biden’s new capital gains tax could exempt about 98 percent of decedents who made $400,000 or less, but about 2 percent may face

Donor Disclosures, Income Measures, and Tax Prep

TweetShareSharePin0 Shares ISO: Funds to pay for infrastructure. Democrats and Republicans have been at loggerheads for weeks over how to pay for Biden’s big infrastructure bill, or some version of it. Democrats want to raise corporate taxes. Republicans say they want to raise unspecified user fees. Now a bipartisan group of eight senators is floating

Tax Relief for Families in Europe, 2021

TweetShareSharePin0 Shares Most countries provide tax relief to families with children—typically through targeted tax breaks that lower income taxes. While all European OECD countries provide tax relief for families, its extent varies substantially across countries. One way to measure targeted tax relief for families is to compare the tax burdens on labor of a family

Hiring an IRS Dispute Lawyer

TweetShareSharePin0 Shares Hiring an IRS Dispute Lawyer Source: Flickr Most people would probably break a cold sweat just by the mere mention of the IRS. Admittedly, dealing with an IRS agent can be one of the most absolutely terrifying experiences in an ordinary individual’s life. So what would you do if a ferocious IRS agent

The Legal Procedure Of Wage Garnishment

TweetShareSharePin0 Shares The Legal Procedure Of Wage Garnishment Source: Flickr A legal procedure, in which some portion of a person’s earning is required to be withheld by an employee for the payment of the debt, is called as wage garnishment. Most of these garnishments are made by court orders. There are some other legal procedures

13 States That Tax Social Security Benefits

TweetShareSharePin0 Shares Thirteen states tax Social Security benefits, a matter of significant interest to retirees. Each of these states has its own approach to determining what share of benefits is subject to tax, though these provisions can be grouped together into a few broad categories. Today’s map illustrates these approaches. Thirty-seven states and D.C. either

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