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federal taxes Archive

What Is The Fair Tax And Why Should You Care?

TweetShareSharePin0 SharesWhat Is The Fair Tax And Why Should You Care? The U.S. Federal Income Tax Code is a tax on the income of American companies and citizens enacted by the government. The U.S. Constitution gives Congress the power to impose taxes, duties, imposts, and excises. The purpose of the Tax Code is to provide

Who Bears the Burden of Corporate Taxes? Reviewing the Evidence

TweetShareSharePin0 Shares The Biden administration has pledged to not raise taxes on anyone earning less than $400,000 a year. However, the administration’s corporate tax proposals would likely violate that pledge, given that corporations are comprised of people who also might earn less than $400,000. The economic evidence suggests that in the long run, workers and

Taxes & Infrastructure Funding for Highways

TweetShareSharePin0 Shares As spending priorities are dividing lawmakers trying to negotiate among the various federal infrastructure plans, less time is being spent on the funding of one of the key components—our highways, both current and future taxes and fees. One of the current taxes, a federal excise tax on heavy commercial vehicles and trailers, is

What Is A Wage Garnishment?

TweetShareSharePin0 SharesWhat Is A Wage Garnishment? A wage garnishment is a legal procedure through which a percentage of a person’s earnings are withheld by an employer for the payment of a debt. Most wage garnishments are made by court order. Other types of wage garnishments are of legal or open procedures made by the IRS

Wisconsin Budget Surplus Presents Opportunity for Future Growth

TweetShareSharePin0 Shares As Wisconsin legislators work to finalize the state budget for the fiscal year (FY) 2022-23 biennium that begins July 1, the Wisconsin Legislative Fiscal Bureau (LFB) on Tuesday reported the state has substantially more revenue to work with than was anticipated when the LFB issued revenue projections earlier this year. Specifically, the LFB’s

Federal Refunds

TweetShareSharePin0 SharesFederal Refunds A Federal refund is one you may be entitled to for many reasons. The most common one that everybody tends to think about is for their income tax. The rules continue to change as to what you will be eligible for. Some people end up getting a few hundred dollars back. Others

Vaccine Lottery: Taxes on Lottery Winnings

TweetShareSharePin0 Shares Krispy Kreme may have started the vaccine incentive ball rolling, but many states are putting big money into the effort with vaccine lotteries. Unlike a normal lottery, no one is paying for tickets—but the tax collector still gets paid when someone wins. With lots of restricted spending COVID-19 relief funds and a substantial
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