federal taxes Archive
Rates And A Lawsuit | Tax Policy Center
September 22, 2022
No Comments
TweetShareSharePin0 Shares The Fed raises interest rates. Will the jobless rate follow? The Federal Reserve announced an increase of 0.75 percent to its baseline interest rate. The Fed has raised the rate five times since March and by 0.75 percent three times. Most members of The Federal Open Market Committee expect to raise interest rates
State Tax Policy at the Ballot Not for the Faint of Heart
September 22, 2022
No Comments
TweetShareSharePin0 Shares Picture this: you arrive at your polling place this November and start filling in your ballot. Member of Congress? Check. State legislators? You did your homework! Mayor? Good to go. Whether certain property tax exemptions provided for agricultural equipment and certain farm products should be expanded to include a merger of two or
Inflation Reduction Act Energy Tax Increases
September 22, 2022
No Comments
TweetShareSharePin0 Shares As noted in a Tax Foundation blog post last week, the Inflation Reduction Act (IRA) primarily uses carrots, not sticks, to incentivize reductions in carbon emissions. The Inflation Reduction Act creates or expands tax credits for various low- or no-emission technologies, rather than imposing a generalized penalty for emissions, such as a carbon tax.
Iowa Towns Blunder Budgets, Residents Won’t Pay Property Taxes
September 22, 2022
No Comments
TweetShareSharePin0 Shares Two Iowa towns failed to submit their budgets by the state’s required deadline, meaning that residents now do not have to pay property taxes. Per a report from Des Moines CBS affiliate KCCI 8, people who reside in Zearing and Le Roy will not pay property taxes this fiscal year due to city leaders’ error.
Court Lifts Hold on Mar-a-Lago Records, Trump Criminal Investigation Resumes
September 22, 2022
No Comments
TweetShareSharePin0 Shares In a landmark move, a federal appeals court has lifted the hold on records obtained during the FBI’s August 8 raid on Donald Trump’s Mar-a-Lago residence. This allows the United States Department of Justice to resume its ongoing criminal investigation into the 45th President. The Associated Press reported on the situation, noting: The
Tax Tips For Self-Publishing Authors: A Complete Guide
September 22, 2022
No Comments
TweetShareSharePin0 Shares If you’re a bookworm who has finally made the jump from reader to author, congratulations are in order! This is no small feat, and you deserve to be proud of your accomplishment. Once you write a book, though, you might find yourself feeling a bit overwhelmed by the financial aspects of becoming an
Shakira Breaks Silence on Tax Evasion, “I Have to Stand Up For What I Believe”
September 22, 2022
No Comments
TweetShareSharePin0 Shares Latin singer, Shakira, has finally broken her silence on her ongoing tax evasion court battle in Spain. The “La Tortura” singer is facing a tax trial in the European nation after rejecting prosecutors’ deal in July. Details of the plea deal that Shakira and her legal team turned down were not immediately available but, the Associated Press, shared that
Private Investigator Involved In High-Profile Case Goes to Prison For Tax Fraud
September 22, 2022
No Comments
TweetShareSharePin0 Shares Tracy Leonard, a private investigator involved in the high-profile Andrea Knabel missing persons case, is headed to federal prison for nine months for tax fraud. According to an official release from the Internal Revenue Service (IRS), Leonard operated a private investigation firm in Clarksville, Indiana, near Louisville. Between 2015 and 2019, the PI
Life Insurance Abuses, Election Season Tax Cuts
September 21, 2022
No Comments
TweetShareSharePin0 Shares Wyden expands an investigation of tax avoidance through private placement life insurance (PPLI). TaxNotes reports (paywall) that Senate Finance Committee Chair Ron Wyden is expanding an investigation into PPLI abuses. They were intended as tax-advantaged savings vehicles for middle-income households. But they are being used to invest millions of dollars in hedge funds
47 People Charged In $250 Million COVID-19 Child Meal Program Scam
September 21, 2022
No Comments
TweetShareSharePin0 Shares Throughout the COVID-19 pandemic, many government agencies provided assistance to struggling families. The pandemic era changed life for everyone, with some families going from double incomes to single incomes due to company closures, and others facing personal crises like divorce. One government department that offered aid to families in need was the U.S. Department
