federal taxes Archive
Florida Tax Collections Beat Projection By $141 Million
December 29, 2022
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TweetShareSharePin0 Shares According to a report issued by this week by the Florida Legislature’s Office of Economic and Demographic Research, the state had $3.23 billion in net general revenue during the month of October. This exceeds economists’ August prediction by a notable $141.4 million. Per the report, that amount would have been even higher if
Gov. Youngkin Wants to Give Small Businesses Major Tax Break
December 29, 2022
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TweetShareSharePin0 Shares Virginia Governor Glenn Youngkin has proposed a first-of-its-kind tax break for small business owners in the state. A report from Norfolk’s WAVY 10 news station shared details, noting that Youngkin intends to provide a 10% deduction for business income. He referred to this as “a direct savings that small businesses will see right
A Spending Bill, A Reporting Delay, And The Plight Of Millionaires
December 27, 2022
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TweetShareSharePin0 Shares Congress passed a year-end spending bill. Finally. Congress finally approved the spending bill on Friday. It will keep the government open through Sept. 30 and expands a long list of retirement savings incentives. The big changes include delaying, yet again, Required Minimum Distributions—this time to age 73 and eventually to 75. The bill
2022: developments, successes and looking forward to 2023
December 26, 2022
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TweetShareSharePin0 Shares As 2022 comes to an end, we would like share our reflections on the Tax Justice highlights of 2022 – a year of shifting power dynamics and increasing momentum. We’ll begin with our CEO Alex Cobham: Organisationally, this has been a key year with the first major refresh of the board for some
A Spending Bill Lumbers To The Finish Line, Lawmakers Heading Home For the Holidays
December 23, 2022
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TweetShareSharePin0 Shares Senate passes omnibus spending bill. The Senate passed the $1.7 trillion bill that would fund the federal government through Sept. 30 and create new retirement savings incentives. The bill now goes to the House, which is expected to approve it today. Why was the IRS so slow to audit Trump’s tax returns? Two
Businesswoman Sentenced For Evading $500,000 In Payroll Taxes
December 23, 2022
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TweetShareSharePin0 Shares A Missouri businesswoman has been sentenced for evading over $500,000 in payroll taxes to the Internal Revenue Services (IRS). Credit: Dowell/Getty Images On December 21, Gina Marie Volmert, of Jefferson City, was sentenced to one year and one day in federal prison without parole. U.S. District Judge Stephen R. Bough also ordered Volmert
Oahu Homeowners Appalled By Skyrocketing Property Values, Taxes
December 23, 2022
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TweetShareSharePin0 Shares Homeowners on the island of Oahu, Hawaii are appalled by property values — and property taxes — that have recently skyrocketed. Credit: Naomi Rahim/Getty Images According to a new report from Honolulu’s Hawaii News Now, many residents who live in the popular tourist destination saw their property value assessments rise 20% to 30%
CPA Charged With Tax Fraud, Embezzling Over $1 Million
December 23, 2022
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TweetShareSharePin0 Shares An Ohio CPA has been charged with tax fraud as the result of a scheme that saw him embezzle over $1 million from his employer. Credit: Mint Images/Getty Images The Department of Justice shared an official press release about the case from the U.S. Attorney’s Office for the Northern District of Ohio. Michael
What You Should Know About Middle Class Tax Refund Fraud
December 23, 2022
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TweetShareSharePin0 Shares In October, the State of California began mailing debit cards and issuing direct deposits to those eligible for the Middle Class Tax Refund (MCTR). Qualified residents were granted one-time payments between $400 and $1,050 for couples who filed jointly or between $200 and $700 for those who filed individually. The amount was based
HOA Foreclosed On Woman’s Home, Sold It Without Her Knowledge
December 23, 2022
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TweetShareSharePin0 Shares A homeowners’ association in North Carolina reportedly foreclosed on a neighborhood resident’s home without informing her. According to one recent report, the homeowner only found out when the bidder who purchased her residence at auction contacted her by phone. Trenita Rogers owned her home outright and had lived in the house for 12
