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Families Planned to Use Child Tax Credit to Pay Bills but Some Were Confused About Eligibility

TweetShareSharePin0 Shares Starting in July, many parents began receiving monthly payments of the Child Tax Credit (CTC). A new IPSOS survey as well as Urban Institute interviews suggest these regular payments will help families make ends meet. Families report they’ll use the credit to catch up with past due bills and pay regular expenses such

Budget Bill Markup Continues | Tax Policy Center

TweetShareSharePin0 Shares Moving a tax bill. The House Ways & Means Committee will continue  work on its provisions of the Build Back Better Act. The panel begins Day 3 of its markup  today and will continue tomorrow, including the now released legislative amendment that details the House Democrats’ tax plan.  The big score. The Joint

Neal’s Tax Bill Is Big And Bold, With Hits and Misses

TweetShareSharePin0 Shares The most important thing to know about the tax bill proposed by House Ways & Means Committee Richard Neal (D-MA) is that it’s big. Really big. The congressional Joint Committee on taxation estimates the massive plan would raise taxes on corporations and high-income households by roughly $2.1 trillion over 10 years, use about

House Tobacco Proposals Defy Biden’s Tax Pledge

TweetShareSharePin0 Shares House Democrats’ newly released $3.5 trillion tax legislation includes a tax increase on tobacco, nicotine, and vapor products levied on tobacco manufacturers. But ultimately it would fall heavily on tobacco consumers—many of the group that earns less than $400,000 that President Biden pledged would not see a tax increase. According to the Joint

Ways and Means releases list of tax provisions for budget bill

TweetShareSharePin0 Shares The House Ways and Means Committee on Monday released legislative text for proposed tax changes to be incorporated in the budget reconciliation bill known as the “Build America Back Better” act. The committee plans to mark up the bill on Tuesday and Wednesday. The proposal would raise tax rates for corporations and individuals

Credit Carry Forward as Timely Refund Claim

TweetShareSharePin0 Shares In Libitzky v. United States, No. 3:18-cv-00792 (N. D. Cal. 2021) the district court dismisses cross motions for summary judgment in a refund suit and pushes the case forward for a determination by a jury.  The parties agree that the Libitzkys overpaid their 2011 liability by almost $700,000.  They disagree on the issue
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