Tax Information

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Small Businesses Filing Amended Federal Tax Returns to Recover Money


Small Businesses Filing Amended Federal Tax Returns to Recover Money By Darren Oliver April 15th may be gone but, but certainly not forgotten ? especially if you, like millions of small businesses, unknowingly overpaid your federal taxes and can recover money by filing an amended return. According to the IRS tax code, you have three years from the filing date for the tax year in question to file an amended return. For example, if returns for the 2003 tax year were filed on March 1, 2004, the taxpayer has until March 1, 2007 to file an amended return. This same rule also applies if the taxpayer feels they have made errors resulting in a balance. Most business owners either prepare their business taxes themselves or have a tax preparer or accountant do them. With either method, the tax liability can be calculated as higher than it actually is because of missed deductions, unrecognized changes in tax laws or just plain being given bad advice. There are a number of applicable deductions which many tax preparers often miss from home office deductions to self-employed health insurance to personal assets converted to business use. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars. Another area, which causes many businesses to overpay, is being given incorrect advice by their tax preparer or even the IRS directly. In a poll performed by Money Magazine, the average tax preparer produces an average of 480 returns between February 1 and April 15, making it difficult for each return to get the time and attention it deserves. This same poll also found there was an average discrepancy of 300% between what the tax preparers said was due and what was actually due. Furthermore, in the IRS?s 2001 assessment of their own call centers, they found that 50% of the time, their representatives gave incorrect or insufficient advice. Whether a business owner does their taxes themselves and had to call the IRS for clarification on an issue or a CPA did, odds are the answer was not correct. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can, like all humans do, easily make a mistake. In 2002 alone, 3.3 million taxpayers filed an amended return. Samuel Rowley, owner of Muffler Masters in Colorado, was able to recover $14,500 through the filing of an amended return when it was found that he overpaid FICA and payroll taxes. Another small business owner, Karen McClafflin, owner of home-based Secret Canyon Realty, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. Why is it that when faced with a life-threatening surgery a second opinion is immediately sought after but, when trusting thousands or millions of dollars to an individual or entity, it?s done without question? Businesses must get a second opinion, whether it is done before or after the return is filed, to ensure they are not overpaying or simply to ensure their returns are accurate in all aspects. If not, they could be leaving thousands of dollars on the table.

How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share


How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share By Darren Oliver With the rush to file your taxes by April 15th, you probably did not consider the possibility that you overpaid. According to the General Accounting Office, in 1998 alone, there was $311 million paid unnecessarily to the IRS. Do not count on the IRS to tell you if you have overpaid because they are not required to but you can file an amended return for up to three years. Chances are, you either prepare your business taxes yourself or have your tax preparer or CPA does them. There a number of issues surrounding either tax preparation method, which can result in your tax liability being calculated as higher than it actually is including missed deductions, numerous changes in tax laws or being given incorrect advice. As a home-based business professional, there are a number of deductions you are entitled to which many tax preparers often miss. For example, if you run a home office you are entitled to deduct expenses for the percentage of square footage the home office is occupying. Expenses include the combined total of mortgage interest, property taxes, utilities, repairs, etc. For example, if 250 square feet of a 1,000 square foot house is being used for a home office, you are entitled to deduct a quarter of your total expenses. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars that you are unnecessarily paying the IRS. That is money that you could be using to grow your business. Karen McClafflin, owner of home-based Secret Canyon Realty in Colorado Springs, CO, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. Another area, which causes many business owners to overpay, is being given incorrect advice by their CPA, tax preparer or even the IRS directly. In a poll performed by Money Magazine, the average tax preparer, prepares an average of 480 returns between February 1st and April 15th, that is a lot of returns in a relatively short amount of time which makes it difficult for your return to get the time and attention it deserves. This same poll also found there was an average discrepancy of 300% between what the tax preparers said was due and what was actually due. Moreover, in a poll of 50 professional tax preparers, consisting of 10 basic tax questions, none answered all 10 questions correctly and only 34 got at least half correct. This problem does not extend to just tax preparers or CPA?s. In the IRS?s 2001 assessment of their own 544 call centers, they found that 50% of the time, their representatives gave incorrect or insufficient advice. Whether you do your taxes yourself and had to call the IRS for clarification on an issue or your CPA did, odds are the answer was not accurate. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can easily make a mistake or, forget to use an exemption which could reduce your tax liability. If you have not yet filed your taxes, it is a good idea to get a second opinion from an independent source. The extra money and time spent in doing this could save you thousands. Look for someone or a company who: Has sufficient years preparing home-based business tax returns Prepares less than the average number of returns between January and April so that your return gets sufficient time and attention. Have had clients get a second opinion. In addition, talk to those clients to get there first hand insight. Is willing to pay for a second review of your tax returns to ensure accuracy. Is willing to take MSN?s online Tax IQ Test at http://moneycentral.msn.com/investor/calcs/n_taxq/main.asp. Although designed for consumers, this test contains basic tax information that even junior level tax preparers should know. Just as you trust a surgeon with your life, you trust this individual or company with your money and confidential information. Be highly selective and do not be afraid to put them through a rigorous qualification. If they are not willing to participate in your qualification then either they do not know their stuff or, your business is not that important to them. If you already filed your taxes or think you might have missed out on deductions, have been given bad advice or failed to take advantage of a tax law change which could reduce your liability for previous tax years, what can you do? The good news is that by law, the IRS is required, for up to three years, to review your returns and records as many times as needed to find errors. You have the same three years to get a second opinion and file an amended return. In fact, in 2002, 3.3 million taxpayers filed an amended return. Samuel Rowley, owner of Muffler Masters in Colorado Springs, was able to recover $14,500 through the filing of an amended return when it was found that he overpaid FICA and payroll taxes. You may worry that an amended return will trigger an audit however; the IRS itself admits this is not the case. In 2002 alone, 3.3 million taxpayers filed an amended return. The IRS is not the big, bad agency we used to know. In fact, statistics show that audits are down and continue to decline. Businesses throughout the U.S. overpay their taxes to the tune of billions each year and your money could be part of the billions that is overpaid. When it comes to your taxes, always get a second opinion to ensure you are not paying more than you should and, you can even hit pay dirt by looking back.

Alas! In E-Commerce Taxland


In trying to comply with tax laws for your e-business, you may find yourself falling down the rabbit-hole, going through the looking glass, and attending a Mad Tea-Party.

Rearrange Your Affairs For Maximum Tax Savings


One way to maximize your business profits is by reducing your taxes. Frequently, income and other taxes could be lowered significantly if only the taxpayer were willing to plan ahead. By taking some simple steps to rearrange your affairs, you could save a fortune!

Organizing Your Taxes


Does this scene sound familiar? It?s April 7. You haven?t seen the top of your dining room table in two weeks because of the piles of paid bills, receipts, canceled checks, and unidentified cash register receipts covering it. Your head pounds and your stomach churns as the countdown to April 15 begins.

Seven Key Tax Deductions for the Self Employed


As a sole proprietor, it?s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004.

How To Set Up A Tax-Saving Bookkeeping System


One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. And, because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a system, and the drudgery of daily maintenance.

Knock-Knock-Knock


Knock-Knock-Knock

How to Reduce the Estate Tax Using the A-B Revocable Living Trust


In a past article I relayed the plight of the widow who stated:

Keeping Your Own Money ? NOT Handing It Over To The Taxman


Most people trying to make a crust online (or offline for that matter) are so focused on doing just that, they ignore taking simple steps to ensure that they hang on to just as much of it as they can. Instead, they hand over large lumps of their hard-earned money in tax, usually in one of two mistaken beliefs. Either:

Tax Reform, My Way


We need real tax reform and we need it now. Previous attempts have been made at tax reform, but they have only provided band-aid solutions that have still left us with too many quirks, complication, and read tape. There are several things Congress could do to simply the tax system and benefit the taxpayers and federal budget at the same time.

Surprising Truths About Tax Preparers


Choosing the right tax preparer for your business is a decision best not left until April. A former tax preparer and small business mastermind offers insights into the secret world of tax preparers.

Navigating The Internet Sales Tax Laws


QUESTION: I have been contacted by my local city government to say that my business is scheduled to be audited to determine if I owe any sales tax from items purchased on the Internet. Can they really make me pay this tax? I thought you could buy things online tax free? -- Katie R.

Home Based Business Tax Deductions


Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.

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Here’s How TurboTax Just Tricked You Into Paying to File Your Taxes  ProPublica

Come along as we try to file our taxes for free on TurboTax!


Trump tax cuts helped rich people in GOP states more than in Democrat states  CNBC

President Trump's landmark tax legislation will benefit rich households in red states more than those in blue states, a new study finds.


Would Elizabeth Warren's wealth tax actually work as intended?  Chicago Booth Review

In January this year, Senator Elizabeth Warren unveiled a proposal to tax the wealth of the richest 0.1 percent of Americans. The proposed legislation to tax ...


Carmack says he paid taxes on disputed Detroit property  The Detroit News

Detroit businessman Robert Carmack and his lawyer said Monday he paid taxes on a parcel of land on Detroit's southwest side and therefore was the legal ...


California soda tax bill shelved, in reprieve for beverage industry  CNBC

LOS ANGELES — A bill that would have slapped a statewide tax on sugary drinks in California stalled Monday when the lawmaker who authored it shelved the ...


Elizabeth Warren wants to use her wealth tax to wipe out Americans' college debt and pay for tuition  CNBC

Warren says her proposal would benefit 95% of the 45 million Americans carrying student debt and wipe it out for 75% of them. She says those steps would ...


Commentary: Gleeful Democrats pulled off the perfect tax scam  Kennebec Journal & Morning Sentinel

"Nobody likes to give themselves credit for this kind of messaging success, but progressive groups did a really good job of convincing people that Trump.


He added up the tax increases California Democrats are proposing. The total? $15 billion  Sacramento Bee

California is known for being a high-tax state, but those taxes could soon get increased even higher. Democrats are considering bills that would raise billions in ...


Leon County would hold tax rate steady but get new revenue in 'no-frills' budget  Tallahassee.com

While eyeing a "no-frills" spending plan, Leon County's preliminary budget for 2020 looks to keep tax rate steady even as higher property values drive taxes up.


3 Ways to Legally Get Out of Paying Taxes in Retirement  Yahoo Finance

Seniors need all the money they can get. Here's how to keep more of yours away from the IRS.


By the numbers: Pennsylvania ranks 11th highest on state cigarette taxes  Watchdog.org

The state cigarette taxes in Pennsylvania ranked 11th in the nation, according to a new analysis from the Tax Foundation based on 2016 data.


Start planning for your 2019 tax return now  The Boston Globe

Now is the time to start tax planning for next year, because you have time to make any changes that may be necessary to avoid a huge tax bill.


These are the towns with the highest property taxes in each of N.J.'s 21 counties  NJ.com

The average property tax bill in New Jersey was $8,767 last year. But there can be big swings from town to town and county to county. So far we've shown you ...


Senate committee rejects bill to send more sales taxes proceeds towards bridges, roads  The Advocate

On arguments that the legislation would pick apart last year's hard-fought deal to stabilize the state's revenue collections, a Louisiana Senate committee ...


John McClaughry: Heating fuel tax is an insidious carbon tax  vtdigger.org

Editor's note: This commentary is by John McClaughry, the vice president of the Ethan Allen Institute. The House-passed heating fuel tax bill (H.439) is now in ...


If you haven't filed your taxes yet, here are some last-minute tips  CNN

Tax Day 2019 is here! Whether you want to file for an extension, save money or even find the closest place to buy a stamp, here is your last-minute Tax Day ...


Cuyahoga County's high taxes prompt discussion about consolidation  cleveland.com

A recent analysis that suggests Cuyahoga County is unduly burdened has the Greater Cleveland Partnership wondering if local government should be ...


Trump sues to block congressional subpoena seeking years of his tax records  Los Angeles Times

Trump and his business organization have sued to block a subpoena that seeks years of the president's financial records.


'TAX HIKE MIKE': MONTVALE MAYOR MIKE GHASSALI HAS A HISTORY OF RAISING TAXES  InsiderNJ

'TAX HIKE MIKE': MONTVALE MAYOR MIKE GHASSALI. HAS A HISTORY OF RAISING TAXES. Tax Rates Higher Under Ghassali's Reign. This is the second ...


Why homeowners should stay in N.J., despite the taxes. A millennial explains.  NJ.com

By Jason DeAlessi. As a millennial who follows happenings in Trenton very closely, I am troubled by the NJ.com editorial,“This is why I'm leaving New Jersey.


David Cay Johnston: What Is Trump Hiding in His Tax Returns?  The Nation

The Pulitzer Prize–winning investigative reporter explains what's likely in Trump's returns.


Unhappy with your tax return? How to prepare for 2019  CNBC

Your refund tells only part of the story of how you fared under the Tax Cuts and Jobs Act. If you really want to dig into your taxes, check out your liability.


Radford passes budget, tax increase | Radford News  Roanoke Times

RADFORD — The Radford City Council officially approved its budget and real estate tax rate with little affair.


Tax day 2019: millions are cheating on their taxes, but few go to jail  Vox.com

Tax cheats owe $131 billion to the US government — enough to fund the entire Department of Education for two years.


Political Scene: Tax returns show a big Point Judith Capital payout to Raimondo and lots more  The Providence Journal

Unlike President Donald Trump's refusal to release his tax returns, most Rhode Island politicians are agreeable to releasing theirs. PROVIDENCE — In ...


Housing, taxes could sway vote to fill Seattle City Council seat vacated by Rob Johnson  The Seattle Times

Housing and homelessness are areas of focus as the Seattle City Council vets candidates to fill the seat vacated by District 4 Councilmember Rob Johnson.


Still Haven’t Filed Your Taxes? Here, Last-Minute Advice  The New York Times

Fewer taxpayers than last year had filed by late March. That may be because of the new tax law. “This is the most complicated tax season ever,” one C.P.A. said.


Bernie Sanders Released His Tax Returns. He’s Part of the 1%.  The New York Times

WASHINGTON — Senator Bernie Sanders of Vermont, a leading candidate for the Democratic presidential nomination, disclosed 10 years of tax returns on ...


This April 15, Don't Fall for the Right's Favorite Lie About Taxes  The Intercept

You've probably encountered propaganda using extremely misleading statistics to claim that the U.S. tax system is soaking the rich. It's not.


Pekin eyes slate of new taxes to pay for pensions, infrastructure needs  week.com

PEKIN, Ill. (WEEK) — UPDATE: Pekin Mayor-elect Mark Luft said the tax votes will be tabled tonight so the council can have more time to “mull it over.” ...


Face It: You (Probably) Got a Tax Cut  The New York Times

Studies consistently find that the 2017 law cut taxes for most Americans. Most of them don't buy it.


A Brief History Of Income Taxes : Planet Money  NPR

Taxes have been around forever. But the income tax? In the U.S., it's relatively recent.


Public Tax Returns? No, Just Those of the Well-Off  Bloomberg

Disclosure would discourage cheating and give better insight into the extent of U.S. inequality.


Toms River municipal budget has no tax increase; councilman votes against it anyway  Asbury Park Press

GOP Councilman Daniel T. Rodrick, who is running for mayor, said more spending cuts need to be made.


4 Tax Strategies That Could Make a Divorce Settlement Easier  The New York Times

Divorce negotiations are never easy, and they became more complicated this year, thanks to the tax overhaul. Here are four tips for taxpayers to consider.


The Losers And Winners Of The Trump Administration's Big Tax Cut  NPR

It's tax day and many Americans are finding out whether last year's big tax overhaul really did cut their taxes. Most did, but some people saw their tax bill go up ...


Pro Football Hall of Fame wants bed tax revenue  Akron Beacon Journal

CANTON — The Pro Football Hall of Fame is asking Visit Canton for $500000 annually over the next 30 years to support Johnson Controls Hall of Fame Village.


Trump’s Taxes Are Fair Game. Just Ask Warren Harding.  Bloomberg

The Teapot Dome corruption scandal resulted in a 1924 law that gives the House Ways and Means Committee authority to demand returns.


Twice as many companies paying zero taxes under Trump tax plan  NBC News

60 major corporations, including Netflix and Amazon, told the IRS their 2018 tax rate was effectively zero under the Tax Cuts and Jobs Act, a new study found.


Bedford County supervisors vote to lower real property tax rate  WDBJ7

In a 4-3 vote, supervisors lowered the real property tax rate to an equalized rate of 50 cents per $100 of assessed value.


Mayor John Suthers addresses homelessness, affordable housing, taxes, police and more  Colorado Springs Gazette

Voters elected Colorado Springs Mayor John Suthers this month to a second term. The Gazette asked Suthers several questions by email about his first term, ...


Advocacy group warns federal gas tax hike would have negative impact for Pennsylvania taxpayers  Watchdog.org

A nonprofit organization recently put out an open call to Pennsylvania lawmakers and implored them to steer clear of a proposed increase in the federal gas tax.


Their Tax Rate Is 0%  The New York Times

You should be jealous of Amazon, G.M. and Coors.


Honolulu officials approve tax break for homeowners  Hawaii News Now

HONOLULU (AP) - Honolulu officials have approved a bill that would lower property taxes by about $70 for most Oahu homeowners. The Honolulu ...


Everyone’s Income Taxes Should Be Public  The New York Times

Disclosure of tax payments would make it easier to hold politicians accountable. It also would help to reduce fraud and economic inequality.


SoFi’s No-Fee ETF Launch Saddles Some Customers With Tax Bills  The Wall Street Journal

SoFi recently launched two no-fee ETFs, marking its first foray into the $3.9 trillion U.S. ETF market. But the move stands to hit some clients with unexpected ...


Doing your taxes? Use these tips to get organized  NBC News

Here are 6 things that can help you be better prepared at tax time this year — and next.


Study finds that tax rates haven't changed for the rich in decades  CNBC

CNBC's Robert Frank reports on a study that found that the wealthy paid little taxes in the 1950s and 1960s despite many Democratic lawmakers suggesting ...


Is CT stepping off its fiscal rollercoaster? Income tax receipts appear stable.  The CT Mirror

After watching Connecticut income tax receipts fluctuate by hundreds of millions of dollars over the past two years, state officials appear to be getting off the fiscal ...


Manufacturers Sue U.S. to Stop Tax Regulation  The Wall Street Journal

The National Association of Manufacturers sued the federal government alleging that a tax regulation affecting winemakers and alcohol companies violates ...


Team Trump Scoffs at Tax Return Deadline, Dares Dems to Take Legal Action: 'Let Them Knock Themselves Out'  The Daily Beast

The Trump administration, along with the president's personal lawyers, are preparing to formally tell Democratic lawmakers seeking years of Donald Trump's tax ...


Which Presidential Candidates Have Released Tax Returns  NPR

Congressional Democrats are embroiled in the fight to try to compel the release of President Trump's tax returns, which he continues to decline to do. But with ...


Long lines of residents sound off to Richmond City Council on tax hikes, RPS funding  WWBT NBC12 News

RICHMOND, VA (WWBT) - Richmond City Hall was packed Monday night, with people waiting in over-flow rooms for their chance to speak. Residents sounded ...


Shocked by Your Tax Refund? Next Year Could Be Worse Unless You Act Now  The New York Times

Fewer taxpayers have received refunds so far this year, and refunds are smaller. Now is the time to check your paycheck withholdings.


Thousands may owe state taxes because of technical glitch  KGO-TV

California's tax board says a technical glitch resulted in possibly thousands of incorrect refunds - and some may have to pay money back.


Skip that avocado toast ... 60% of millennials don't have $500 to cover their tax bill: Survey  CNBC

Drop the avocado toast. Many millennials can barely pay their tax bill. Six out of 10 people in this age cohort don't have $500 set aside to cover what they owe ...


Cambridge Rep. Calls for Capital Gains Tax to Fund Transit  Banker & Tradesman

A state representative from Cambridge wants to raise the state's capital gains tax in order to generate more than $1 billion in new revenue for the state each year ...


The 140-Year-Old Dream of ‘Government Without Taxation’  The Atlantic

In 1879, a political economist argued that wealth derived from land value belonged to the American public. Today, economists are reviving interest in his ideas ...


Save money on tax-free emergency supplies weekend  Monitor

HARLINGEN — The best preparation for any emergency starts today. The state tax-free emergency supplies weekend from April 27-29 allows Texans to stock ...


Blackstone CEO Steve Schwarzman wants US to raise minimum wage, eliminate taxes for teachers  CNBC

Watch CNBC's full interview with Blackstone's Steve Schwarzman on the firm's restructuring, the US economy and more 10:12 AM ET Thu, 18 April 2019 | 17:49.


France asks: Should billionaires get tax breaks on Notre Dame donations?  CNN

London (CNN Business) One after the other, France's three richest families opened their checkbooks and pledged a combined $565 million to rebuild the ...


Gov. Bullock vetoes three bills, including tax cut on Social Security income  KPAX-TV

HELENA – Gov. Steve Bullock vetoed three bills late last week, including one that would have exempted more Social Security income from state taxation.


US Workers Are Paying High Taxes. But Without Any of the Benefits.  Jacobin magazine

The United States is commonly thought of as a low-tax country. But workers effectively pay some of the highest taxes in the developed world — without getting a ...


UPDATE: Washington County leaders approve tax break for German company  WJHL-TV News Channel 11

UPDATE: The Washington County Commission has approved a tax break for "Project Starlight," a plan to bring a German manufacturer to the county.


Kamala Harris releases 15 years of her tax returns  CNN

Throwing down the tax return gauntlet against both Democratic Sen. Bernie Sanders and President Donald Trump, Sen. Kamala Harris of California released 15 ...


A Texas sales tax increase would hit poor people the hardest  The Texas Tribune

Top Republican leaders have proposed raising the sales tax and using the money to lower local property tax rates. Wealthier Texans and businesses would ...


Here's who's winning under Trump's tax law  CNN

Tax day isn't until Monday, but there have already been some surprises for Americans filing their first income tax returns under President Donald Trump's 2017 ...


Controversial pick for Harrisburg School District solicitor owes business tax to city, schools: court document  PennLive

A majority of Harrisburg School Board members want to hire James Ellison as the new solicitor at a special meeting Monday. Ellison owes more than $3000 in ...


Cory Booker unveils plan to cut taxes for half the country  NBC News

WASHINGTON — *Fresh* off launching a national campaign tour over the weekend, Sen. Cory Booker, D-N.J., unveiled a new proposal on Monday to cut taxes ...


Donald Trump’s Tax Returns: What We Might Learn  The New York Times

The president's tax returns would provide insight into how much money he is making, or losing, each year, but they would not fully illuminate the sources of his ...


Your taxes could be going down again soon, and so could taxes on business  Charlotte Observer

The standard deduction for income taxes would go up and business tax breaks would be extended with a tax package that has support from key North Carolina ...


Beto O'Rourke releases 10 years of tax returns  CNN

Democratic presidential candidate Beto O'Rourke on Monday released ten years of his tax returns, pledging to also soon release his 2018 returns as well.


New 'Patriotic Millionaires' group says: Please, tax me more  NBC News

WASHINGTON — Karen Seal Stewart is rich. And she wants to pay more in taxes. Yes, you read that right. Stewart is one of the Patriotic Millionaires, a group of ...


Elizabeth Warren Proposes New Corporate Tax  The Wall Street Journal

WASHINGTON—Democratic presidential candidate Elizabeth Warren is proposing a new 7% tax on the largest, most profitable U.S. companies, a move that ...


Poll: 68 percent say they paid same or more in taxes in 2018 | TheHill  The Hill

About two-thirds of Americans, 68 percent, say they paid the same or more in taxes for 2018 than the previous year, while less than a quarter said they paid less, ...


Syracuse tax increase is needed to fix deteriorating water system (Your letters)  Syracuse.com

No one likes a tax increase, but "I have to say I'm with the mayor on this one," writes a Syracuse taxpayer.


Who wants to pay taxes?  Vox.com

A lot of people do, at least when they have direct input on how governments spend their money.


Elizabeth Warren's 'Real Corporate Profits Tax' Analysis  Tax Foundation

Senator Elizabeth Warren (D-MA) released a proposal for a surtax on corporate profits called the “Real Corporate Profits Tax.” The Real Corporate Profits Tax ...


Legislators break with Lamont and propose higher taxes on wealthy Connecticut residents  Hartford Courant

Democratic legislators are proposing a tax increase on the investment income of Connecticut's wealthiest households to help close the state budget deficit, ...


How the hell are cryptocurrency holders supposed to file their taxes?  MIT Technology Review

Though it wasn't in time for tax day, US lawmakers are pressuring the IRS to clarify its policies for digital currencies.


The Wealthy In Massachusetts Don't Pay Enough In Taxes. We Can Change That  WBUR

Here's something you might not know about liberal Massachusetts: In the past four decades, the commonwealth has seen the third-largest decrease in taxes of ...


Tax day is Monday. How do I file a tax extension for 2019?  USA TODAY

If you haven't filed yet and are feeling pressed for time, you may want to consider getting an extension. Here's how to get the extra time you need.


Tax refunds: Red states doing better than blue states  CNN

Most American taxpayers got tax cuts last year, thanks to the new tax law. They just may not have realized it. And filing their returns Monday won't help make it ...


The White House has reached peak ridiculousness on Donald Trump's taxes  CNN

Congratulations, Sarah Sanders! You just made the single worst argument for why Donald Trump shouldn't release his taxes!


What Elizabeth Warren Doesn’t Get about Taxes  National Review

Senator Warren's corporate-tax hikes and new wealth taxes would hurt the very impoverished Americans they aim to help — and everyone else, to boot.


Texas Senate gives local governments more breathing room for property tax revenue growth  The Texas Tribune

After a key Republican holdout agreed to bring a priority bill to the floor, the upper chamber increased an election trigger on revenue increases from 2.5% to ...


Bill Would Ban IRS From Creating Free Electronic Tax Filing System  NPR

NPR's Rachel Martin talks to ProPublica reporter Justin Elliott about a bipartisan congressional measure which could ban the Internal Revenue *Service* from ...


Stephen Moore, Trump’s Fed nominee, owes $75,000 in unpaid taxes  Vox.com

President Donald Trump's controversial pick to fill an open seat on the Federal Reserve Board, Heritage Foundation fellow Stephen Moore, reportedly owes ...


Montreal real estate: Take time to learn about tax breaks for homeowners  Montreal Gazette

Wrapping your head around the ins and outs of tax rules can be complicated, but it's worth it.


All the 2020 Presidential Candidates' Tax Returns  MONEY

The 2020 presidential race is officially underway, and that means it's time to talk tax returns. President Donald Trump notwithstanding, almost all major party ...


Texas Gov. Greg Abbott, other top leaders propose raising the sales tax to provide property tax relief  The Texas Tribune

The state's "Big Three" unveiled the proposal in a joint statement. The idea would need approval from two-thirds of the House and Senate and a majority of ...


Can taxing the rich pay for Bernie Sanders' Medicare for All plan?  CNN

Vermont Sen. Bernie Sanders is not hiding the fact that everyone's taxes would go up under his "Medicare for All" plan, though the rich would be hit with several ...


The Notre Dame Fire, The Carbon Tax And Climate Policy  Forbes

What is the state of climate policy on 2019 Earth Day? Our sense is that while a carbon tax is facing political problems, climate policy is alive and kicking.


The stress of tax season is real. Here's how to cope  CNN

The pressure to file for tax returns by a deadline gives tax preparers and accountants plenty of business while adding enough stress to garner the attention of the ...


Is Trump’s tax law helping or hurting the housing market?  MarketWatch

A New York Federal Reserve study suggests tax reform has contributed to the housing industry's recent woes, but other factors may play an even bigger role.


Trump Wrong About Tax Law  FactCheck.org

Asked whether he believes federal law requires him to give Congress his tax returns, President Donald Trump responded, “There's no law whatsoever.


Sen. Elizabeth Warren releases 2018 tax returns  CNN

Sen. Elizabeth Warren on Wednesday released her 2018 tax returns, laying bare a key financial record the Democratic Party has made a political issue since ...


In 1 Chart, How Your Taxes Are Spent  Daily Signal

Unless Congress fixes health entitlements and Social Security, they—and interest payments on the national debt—will consume every dollar of taxes paid by ...


Tennessee House lawmakers weigh $21M tax break for FedEx expansion  The Commercial Appeal

House lawmakers are set to vote on HB 1461, sponsored by Speaker Glen Casada. The bill was amended to specifically provide FedEx a tax break.


5 top Michigan corporations paid $0 in federal taxes under Trump's new tax law  Detroit Metro Times

You may have paid federal taxes, but four Fortune 500 companies in Michigan did not. In fact, they received hundreds of millions of dollars in...





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