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You may owe taxes for federal student loan forgiveness if you live in one of these states
If you’re one of the millions of Americans expecting student loan forgiveness, you won’t owe federal taxes. But that doesn’t mean you’re off the hook at the state level. Read More.
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6 More States Stop Taxing Military Retirement
In 2022, six more states have joined the ranks of those exempting, or partially exempting, military retirement pay from state income tax liability. The move means that nearly 300,000 more military retirees across the nation are now exempt from state income tax. Read More.
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Texas governor promises tax relief
Texas Gov. Greg Abbott has pledged to use half of the state’s projected $27 billion surplus to reduce property taxes. Gov. Abbott made the pledge after conservatives called for the historic surplus to be used to provide property tax relief. Read More.
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The Chairman’s Report September 9th, 2022
The recently enacted Inflation Reduction Act has many provisions to which many of us may object, but the $80 billion to the IRS is particularly upsetting. Read More.
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Indiana will tax loan forgiveness, similar to other states
Indiana will tax student debt relief as income, reflecting similar policies in other U.S. states following the Biden administration’s announcement of a forgiveness plan last month. Read More.
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EV tax credit may be out of reach for most consumers
While the climate, health care and tax law includes an overhaul for the electric-vehicle tax credit, allies and industry representatives have expressed concern that the statute may ultimately benefit too few consumers. Read More.
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CBO: IRS Will Increase Audits On Middle Class, But Only A ‘Small Fraction’ Of New Tax Revenues
The Congressional Budget Office (CBO) admitted that the IRS will increase audits on middle-class Americans after it received a funding boost from the so-called “Inflation Reduction Act.” Read More.
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Idaho Governor Signs Massive Tax Cut, Education Bill
Idaho Gov. Brad Little late Thursday signed a massive tax cut and education spending bill made possible by the state’s projected $2 billion budget surplus. Read More.
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State Stimulus Payments 2022: Residents in These States Are Getting Checks in September
Many states have been issuing tax rebates and stimulus payments to help combat ongoing inflation. While some have already been issued, other states are still sending checks out. Read More.
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How to put ‘Tool Time’ sales tax holiday to work for you this Labor Day weekend
Labor Day weekend could be the perfect time to put in some work around the house. Starting Saturday, Sept. 3, people across Florida can save money on tools and other home repair and construction items as part of the state’s first “tool time” sales tax holiday. Read More.
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The witnesses missing from tax hearings: average taxpayers
As Congress raced to pass long-stalled health, climate and tax legislation this summer, Democrats advanced the country’s latest update to U.S. tax laws, giving the IRS $15 million to design a free “e-file” tax return system. Read More.
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North Carolina says it will tax Biden's student-loan forgiveness, and 3 more states are likely to follow suit
Student-loan forgiveness will be considered taxable income in North Carolina, the state's Department of Revenue said on Wednesday. Read More.
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The Grassroots Corner September 5, 2022
The Grassroots Corner - Week Beginning 9/05/22: “Meet David Webber, our new Maryland FAIRtax Leader” Read More.
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EU: US electric vehicle tax credit reduces buyers' choices
A new U.S. tax credit aimed at encouraging Americans to buy electric vehicles may backfire and limit choices for consumers because of concerns it's weighed against European Union manufacturers, the EU trade chief said Thursday. Read More.
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DC homeowners stuck with enormous tax bills due to change in tax code
Imagine waking up today to a $20,000 bill out of nowhere. That’s what happened to hundreds of D.C. residents when they opened their August property tax bill. Read More.

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