federal taxes Archive
State Tax Ballot Measures to Watch on Election Day 2022
October 24, 2022
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TweetShareSharePin0 Shares On Election Day 2022, most eyes will be on Congress, with polls showing control of both chambers up for grabs. But the action is not limited to Washington, D.C.: across the country, voters will decide important questions through state and local ballot measures. At the state level, 25 measures in 12 states relate
Debt Ceiling Drama. UK Drama. Courtroom Drama.
October 24, 2022
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TweetShareSharePin0 Shares After the election, swapping spending cuts for a debt ceiling increase? Republicans want to use a House vote on raising the debt ceiling, necessary to prevent government default, to win concessions on spending cuts. The federal government is expected to reach its $31.4 trillion debt limit sometime in 2023 but some Democrats would
Jury Selection Officially Underway In Trump Criminal Trial
October 24, 2022
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TweetShareSharePin0 Shares Jury selection has officially begun in Manhattan for the highly publicized Trump Organization criminal trial. NBC News shared details, noting that “potential panelists [are] likely to be questioned intensely about whether they can be impartial in a case that involves the former president and his eponymous company.” Last week, Reuters confirmed that the long-awaited case
Credit Suisse Ends Tax Probe With $324 Million Payment
October 24, 2022
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TweetShareSharePin0 Shares Credit Suisse has recently been the subject of multiple tax probes worldwide and has agreed to make a $324 million payment to end one situation. Per Reuters, the finance giant will pay the fee to end a French tax probe, which has seen investigators looking into whether the Swiss bank assisted wealthy clients
Man Sentenced to Prison For Decade-Long Mortgage Fraud Scheme
October 24, 2022
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TweetShareSharePin0 Shares A Massachusetts man has been sentenced to four years in federal prison for running a decade-long mortgage fraud scheme. Over the course of ten years between 2006 and 2015, George Kritopoulos, a Salem real estate developer, engaged in fraud on at least 24 loan transactions totally $6.5 million. Lenders lost over $3.8 million as
What The IRS Inflation Adjustment Really Means
October 21, 2022
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TweetShareSharePin0 Shares The Internal Revenue Service announced its inflation adjustment for tax year 2023: It will be a bit more than 7 percent, the largest increase in many years. But this change is widely misunderstood: It isn’t a cause for joy, and it isn’t a tax cut. The adjustment is intended to reflect today’s higher
FL Voters to Decide on Continuation of Parkland Shooting School Safety Levy
October 21, 2022
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TweetShareSharePin0 Shares A Florida tax levy put in place after the 2018. Parkland school shooting will be on the ballot for renewal this November. Following the deadly shooting at Marjory Stoneman Douglas High School, the 75% millage tax officially went into effect in Lake County in 2019. According to Click Orlando, the Lake County School
Hyundai Says Biden’s EV Tax Changes Are “Astronomical” Blow
October 21, 2022
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TweetShareSharePin0 Shares Hyundai officials have spoken out about the “astronomical blow” they’ve been dealt thanks to the electric vehicle (EV) tax changes that were included in President Biden’s Inflation Reduction Act. In August, it became apparent that the new regulations applied to very few — if any — of the EV models currently on the
Trump Org. Criminal Tax Trial Set to Begin Next Week
October 20, 2022
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TweetShareSharePin0 Shares The Trump Organization’s criminal tax trial is set to officially begin Monday, October 24 with jury selection. Reuters confirmed that the case will be tried in Manhattan state court. The outlet shared that the Trump Organization could face up to $1.6 million in fines for the three tax fraud counts and six other
Liz Truss Becomes Shortest Tenured PM In History, Steps Down After Six Weeks
October 20, 2022
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TweetShareSharePin0 Shares Six weeks ago, Liz Truss officially became British Prime Minister following Boris Johnson. Now, she has stepped down following the recent crash of the British pound amid her controversial tax plan. This makes Truss the shortest tenured Prime Minister in United Kingdom history. CNN shared details about the situation, noting that her “successor will
