federal taxes Archive
The Weekly (Tax)Buzz – August 17th, 2022
August 17, 2022
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TweetShareSharePin0 Shares The Weekly (Tax)Buzz – August 17th, 2022 If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from
One Oregon Gubernatorial Candidate Won’t Hand Over Tax Returns
August 17, 2022
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TweetShareSharePin0 Shares Of the three candidates for Governor of Oregon this year, only one won’t hand over their tax returns. Willamette Week shared details about the publication’s attempt to secure tax return copies from all three candidates in this year’s race — Republican Christine Drazan, Democrat Tina Kotek, and Independent Betsy Johnson. Former Democratic state Senator Johnson, however,
Japanese Tax and Benefit System for Working Parents: Marginal Tax Rates
August 16, 2022
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TweetShareSharePin0 Shares Imagine that a government provides subsidies to single parents that actually increase tax rates on additional work. This is the case for a Japanese single parent who earns a rough equivalent of US $39,981 and faces a 57 percent marginal tax rate. With just a small increase in pay of $599, she would
New Buyback Excise Tax Snares Foreign Investors
August 16, 2022
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TweetShareSharePin0 Shares The Inflation Reduction Act (IRA) approved by Congress last week included a new 1 percent stock buyback excise tax on US publicly traded corporations. Many of these companies now spend their excess cash to repurchase stock from their shareholders, rather than pay dividends or invest more in their firms. The new tax will
Does Your State Have a Marriage Penalty?
August 16, 2022
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TweetShareSharePin0 Shares Today’s map zeroes in on states that have a “marriage penalty” in their individual income tax brackets. Under a graduated-rate income tax system, a taxpayer’s marginal income is subject to progressively higher tax rates. A marriage penalty or “marriage tax penalty” exists when a state’s income brackets for married taxpayers filing jointly are less than
Thousands of New Yorkers Are Missing Out on an Easy Tax Credit
August 16, 2022
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TweetShareSharePin0 Shares Thousands of residents across New York City and New York State are missing out on an easy tax credit. The School Tax Relief (STAR) program provides property tax relief to eligible New York State homeowners. The official website for the program notes that there are two ways in which taxpayers can receive their rebate: STAR
Trump CFO Expected to Plead Guilty to Criminal Tax Charges
August 16, 2022
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TweetShareSharePin0 Shares Former Trump Organization CFO Allen Weisselberg is expected to plead guilty to criminal tax charges in New York as early as Thursday, August 18. Late last week, it was announced that Weisselberg’s trial would begin in Manhattan on October 24 after a motion for dismissal of the charges was denied. Bloomberg shared details: Weisselberg
Ex-Probation Union Leader Embezzled Thousands, Pleads Guilty to Tax Evasion
August 16, 2022
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TweetShareSharePin0 Shares An ex-probation union leader embezzled thousands of dollars and committed tax fraud during his tenure. On August 4, Manuel Edward Torres, 66 — who retired as a supervising probation officer in Santa Barbara County — visited Santa Barbara County Superior Court where he entered no contest pleas to eight counts of filing false
16 States Are Giving Residents Major Tax Rebates to Battle Inflation
August 16, 2022
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TweetShareSharePin0 Shares 16 U.S. states are giving residents major tax refunds and stimulus checks to battle inflation as prices on everything from gasoline to groceries continue to rise. Congress recently passed the Inflation Reduction Act of 2022 along party lines — Republicans unanimously opposed the bill — but none of the purported benefits of this new
Biden Will Sign The Inflation Reduction Act This Week
August 15, 2022
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TweetShareSharePin0 Shares All that remains is President Biden’s signature. The House passed the climate, health, and tax Inflation Reduction Act (IRA) on Friday, and Biden plans to sign it into law this week. It includes a book minimum tax on very large corporations, a tax on corporate stock buy-backs, and dozens of energy tax credits.
