Individual Taxes Archive
SALT Cap Repeal Would Overwhelmingly Benefit High Income Households
April 23, 2021
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TweetShareSharePin0 Shares Households making $1 million or more a year would receive half the benefit of repealing the $10,000 federal cap on the state and local tax (SALT) deduction, according to new estimates by the Tax Policy Center. Seventy percent of the benefit would go to those making $500,000 or more. At the same time,
Tax Obligation Expenses Stay A Substantial Share of The Economic Climate
April 20, 2021
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TweetShareSharePin0 Shares Regardless of years of prevalent conversation amongst legislators regarding the demand to expand the government earnings tax obligation base, tax obligation expenses have actually stayed extremely secure as a share of the economic situation as well as will likely remain to do so, according to a new study by the Tax Policy Center.
Too Many IRS Audits of Big Businesses Result In No Change In Tax Liability
April 19, 2021
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TweetShareSharePin0 Shares Change can be good, right? Maybe or maybe not. But if you are the Internal Revenue Service, “no change” audits never are good. And, for big corporations, they are becoming more frequent. A “no change” audit happens when taxpayers substantiate the income, deductions, and credits they claimed on their tax returns. Since the
Delivering Tax Benefits to People Who Are Experiencing Homelessness
April 15, 2021
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TweetShareSharePin0 Shares By approving a third round of economic impact payments (EIPs) and expanding refundability of the Child Tax Credit, Congress has made refundable tax credits a more important pillar of income support than ever. But using tax credits as a way to provide income security to low-income households creates a significant challenge: How can
