federal taxes Archive

TweetShareSharePin0 Shares More than 170 countries worldwide—including all European countries—levy a Value-Added Tax (VAT) on goods and services. As today’s tax map shows, EU Member States’ VAT rates vary across countries, though they’re somewhat harmonized by the European Union (EU). The VAT is a consumption tax assessed on the value added in each production stage

TweetShareSharePin0 Shares Former President Donald Trump used a records release request in a bid to stall the IRS’s release of his tax documents, a new report finds. The report, from finance giant Bloomberg, indicates that Trump “demanded reams of information from the Internal Revenue Service as it was preparing to turn over his personal tax

TweetShareSharePin0 Shares New mothers, families with low incomes, and immigrant parents often miss out on tax benefits by failing to file returns. But with tax filing season beginning, we have identified new ways to assist them, including the use of technology and, perhaps surprisingly, nurses. The key is using community members as trusted messengers who

TweetShareSharePin0 Shares McCarthy will meet with Biden on Wednesday. The House Speaker said yesterday he’ll meet with President Biden on Wednesday to talk about raising the debt limit in return for “reasonable and responsible” spending reductions. McCarthy said on Face The Nation that Republicans would not target Medicare and Social Security but said defense spending

TweetShareSharePin0 Shares In December, Virginia Governor Glenn Youngkin (R) proposed multiple tax breaks for businesses in The Old Dominion State. Among these was a first-of-its-kind small business tax break that is designed to give entrepreneurs throughout the state immediate financial relief in the form of a 10% deduction for business income. At the time, Delegate

TweetShareSharePin0 Shares House GOP considers a short-term debt limit suspension. House Republicans are internally debating a measure to suspend the statutory debt limit until the end of the fiscal year on Sept. 30. The delay would not be tied to specific spending cuts but would give Republicans more time to negotiate over possible reductions. Some

TweetShareSharePin0 Shares Most Americans would say that the current United States tax code is far from perfect and needs a number of reforms. To this end, new proposed Congressional legislation would abolish the existing code. The Fair Tax Act, proposed by Representative Earl L. “Buddy” Carter (R-GA) would ban income, payroll, estate, and gift taxes, instead opting for a