It could have been worse. Still, half a million dollars more for the Duluth Transit Authority and an approximately 8% increase in the city tax levy will be a lot to bear in 2023 for already overburdened Duluthians. And that’s precisely what the Duluth City Council is poised to pass. Read More.
The European Commission plans to make crypto companies report user holdings to tax authorities, it said Thursday. But the European Union (EU) body says it’s still working on how to enforce the measures on wallet providers or exchanges based outside the bloc. Read More.
Democrats want to expand a tax credit that aids low-income families. Republicans hope to preserve a set of tax breaks that benefits businesses. And both parties hope to prevent a federal government shutdown. Read More.
The difference between God and a U.S. Senator is that God doesn’t think he is a U.S. Senator. The arrogance of many in D.C. who believe that only they are smart enough to determine what is best for us is well known. Likewise, the idea that they will try to use the IRS to reward their friends and punish their enemies is not “news’’ to anyone either.
The Internal Revenue Service and the Treasury Department issued a notice explaining how businesses such as builders, developers and owners of clean energy facilities can satisfy the prevailing wage and apprenticeship requirements for enhanced tax benefits under the Inflation Reduction Act. Read More.
Sales tax is a requirement for interior designers, and the accounting part can be cumbersome. Working with an accountant or tax payment service can take some of the burden out of staying compliant, says Sherrell T. Martin of Nitram Financial Solutions. Read More.
If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS. Typically, you get a federal refund when you’ve overpaid yearly taxes or withheld more than the amount you owe. Read More.
For many years the American people have been assured that the increasing amounts of personal information collected on their tax returns was confidential. After all, data on a person’s income and spending is about as personal and private as you can get. We were further assured that our personal data would be used only to ensure that everyone was paying the correct amount of income tax.
Philadelphia's latest citywide tax assessment raised residential property values by an average of 31%, which means taxes are soaring, too. But it's not too late to do something about it — and we can help. Read More.