federal taxes Archive

Rates And A Lawsuit | Tax Policy Center

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

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

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.

Tax Tips For Self-Publishing Authors: A Complete Guide

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”

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

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

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

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

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