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Keyword: tax

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  • Treasury, IRS reveal a postcard-size form to file your taxes

    06/29/2018 3:28:31 PM PDT · by Innovative · 44 replies
    CNBC ^ | June 29, 2018 | Liz Moyer
    The GOP's long-promised change is an offshoot of a tax overhaul last year that cut corporate rates and winnowed down the number of individual tax brackets. On Friday, the Treasury Department and IRS unveiled the new postcard, which will replace the current forms 1040, 1040A and 1040 EZ.
  • Why soda taxes don't work

    06/24/2018 12:33:12 PM PDT · by Tolerance Sucks Rocks · 53 replies
    The Washington Times ^ | June 24, 2018 | Adam Brandon
    Time and again we hear politicians from different parts of the country profess the virtues of a soda tax. Their reasoning ranges from wanting to improve the public health, by cutting back consumption of unhealthy drinks, to talking about how much revenue it will bring in. This proclivity of nanny statists to push policies to change people’s behavior hues quite closely to Einstein’s definition of insanity: Trying the same thing over and over, expecting different results. Policy makers of all stripes need to abandon their affinity for soda taxes. Put simply, soda taxes just don’t work. Take Berkeley, California, as...
  • Going shopping? N.J. wants to impose fees on bags, but critics say it won't stop littering

    06/21/2018 3:54:51 PM PDT · by GuavaCheesePuff · 25 replies
    Newark Star-Ledger ^ | June 21, 2018 | Michael Sol Warren
    In the battle against litter in the Garden State, plastic bags have been public enemy number one. Several municipalities, mostly along the Shore, have acted on their own to limit plastic bag use either through fees or bans. But for years, efforts for statewide regulation of the bags has failed to gain traction. Now, state lawmakers have decided that it is time to move forward. A new fee on plastic and paper shopping bags is being pushed through the state legislature: The bill cleared budget committees in both the Assembly and Senate on Tuesday and could be passed as early...
  • New 1040 tax form will be the size of a postcard

    06/21/2018 8:46:57 AM PDT · by Libloather · 56 replies
    Fox Business ^ | 6/20/18 | Brittany De Lea
    U.S. Treasury Secretary Steven Mnuchin said on Wednesday that new tax forms, designed to make the filing process clearer and simpler for Americans, will be released next week. “Next week we will be unveiling the new 1040 and it will be a postcard as we promised,” he said during a press conference celebrating the six-month anniversary of the passage of tax reform. “Hardworking taxpayers won’t have to spend nearly as much time filling out their [tax forms].” The 1040 form is the U.S. individual income tax return. Republicans promised to simplify the filing process for taxpayers, famously claiming the forms...
  • High Court: Online shoppers can be forced to pay sales tax

    06/21/2018 7:58:37 AM PDT · by Reno89519 · 162 replies
    AP ^ | June 21, 2018 | Hessuca Gresko
    WASHINGTON (AP) — The Supreme Court says states can force online shoppers to pay sales tax. The 5-4 ruling Thursday is a win for states, who said they were losing out on billions of dollars annually under two decades-old Supreme Court decisions that impacted online sales tax collection. The high court ruled Thursday to overturn those decisions. snip “Each year the physical presence rule becomes further removed from economic reality and results in significant revenue losses to the States. These critiques underscore that the physical presence rule, both as first formulated and as applied today, is an incorrect interpretation of...
  • The End of All That's Good and Pure About The Internet (Censorship LINK TAX passed)

    06/20/2018 6:11:49 PM PDT · by MarchonDC09122009 · 40 replies
    Gizmodo ^ | 06/20/2018 | Rhett Jones
    The End of All That's Good and Pure About The Internet https://gizmodo.com/the-end-of-all-thats-good-and-pure-about-the-internet-1826963763 Rhett Jones June 20 2018 The EU has passed an Internet link tax on anyone who links to any EU published content. The tax will be levied against individuals or organizations in any country due to mutual copyright treaty conventions. Article 11 Article 11 has been variously called the link tax or the snippet tax. Designed to mitigate the power over publishers that Google and Facebook have amassed in the last decade, it codifies a new copyright rule for linking to news organizations and quoting text from their stories. Online platforms...
  • Seattle city council repeals "head tax" on city's big businesses

    06/12/2018 4:25:42 PM PDT · by hoagy62 · 14 replies
    KOMO.com ^ | 6/12/18 | AP and KOMO
    Seattle leaders on Tuesday repealed a tax on large companies such as Amazon and Starbucks after a backlash from businesses, a stark reversal from a month ago when the City Council unanimously approved the effort to combat a growing homelessness crisis. The council voted 7-2 after supporters and opponents packed a meeting with signs saying, "Tax Amazon, housing for all" and "No tax on jobs," with some shouting for more time to discuss the issue. The vote showed Amazon's ability to aggressively push back on government taxes, especially in its affluent hometown where it's the largest employer and where some...
  • Unpopular gas tax could be issue in California governor's race

    06/06/2018 8:15:57 PM PDT · by Mariner · 49 replies
    KCRA Sacramento ^ | June 6th, 2018 | Mike Luery
    SACRAMENTO, Calif. (KCRA) — San Diego businessman Jon Cox may be the underdog in the governor’s race, but Republicans believe Democratic opponent and Lt. Gov. Gavin Newsom is vulnerable because of his support for an unpopular tax. If there’s one issue that resonates with Republicans, it’s the repeal of the gas tax in California. On Wednesday, Cox made a point of blaming Newsom for the 12-cent hike at the pumps -- even though Newsom, as lieutenant governor, was not involved in the legislative vote. “He wants to defend the gas tax,” Cox said. “I'm leading the effort to repeal the...
  • Filing tax return and finding dependent has also claimed same exemption

    06/06/2018 12:21:12 PM PDT · by George from New England · 34 replies
    self
    Have found that months after I filed i.r.s. tax return, that a dependent filed and started to claim themselves as a dependent. Had 5 kids and this is the last one. Both of us seem to be stuck in limbo. I.R.S. is dragging their asses, no irs notice dates promised are met, no refunds issued at all. I would file a 1040-X amended return but I am under the impression that a return has to be accepted and processed in order to amend it. Can those freepers that had this happen, comment.
  • “Google tax” plan moves ahead in Mountain View after city panel actions

    05/24/2018 10:11:35 AM PDT · by NohSpinZone · 21 replies
    San Jose Mercury News ^ | 5/23/18 | By GEORGE AVALOS
    MOUNTAIN VIEW — Plans for a “Google headcount tax” moved ahead Wednesday in Mountain View after a municipal panel recommended that the full city council approve the proposal. A three-member subcommittee of the Mountain View City Council endorsed the concept on Wednesday of a tax on the number of workers a company employs within the city limits, although government officials refer to it formally as a “restructuring” of the business license tax. The Mountain View City Council is scheduled to meet June 5 to make a final decision on whether it will order the city staff to prepare a ballot...
  • Seattle City Council members propose property tax increase (TR)

    05/23/2018 12:07:02 PM PDT · by DFG · 58 replies
    Q13FOX (Seattle) ^ | 05/21/2018 | Hana Kim
    EATTLE -- People who own a home in King County are paying about 17% more in property taxes this year than last year to help pay for the state’s funding of public education. But come November, Seattle leaders will be asking voters to approve a bit more of an increase for city dwellers. City Council members say while the state funding property tax hike pays for basic education, the levy they want to be renewed will be an extra investment to ensure that kids from preschool to high school will have what it takes to succeed.
  • Now will you come to Tacoma? New tax credit takes aim at Seattle's new head tax

    05/21/2018 8:02:06 PM PDT · by llevrok · 26 replies
    The News Tribune (Tacoma WA) ^ | 5/21/2018 | KATE MARTIN
    Bruce Kendall said Monday his phone at the Economic Development Board for Tacoma-Pierce County has been ringing steadily since last week's vote by the Seattle City Council to tax big businesses $275 per employee. "I've received inquiries over the last week from companies that have indicated they are exploring options for locations in Pierce County," Kendall said. "And they are telling me that's why they are calling me, because the head tax passed. Now companies have another reason to call: A $275 tax credit per employee for new, family-wage jobs. "Note the value, it's not random," tweeted state Rep. J.T....
  • How Seattle’s New Tax to Fight Homelessness Could Ruin its Economy

    05/18/2018 7:03:46 AM PDT · by SeekAndFind · 39 replies
    Fortune ^ | 05/18/2018 | Travish Brown
    In a shortsighted effort to fight homelessness, Seattle’s city council has approved a new employee “head tax” on companies based in the city. The policy pits growth and progress against each other in a zero-sum game that will do far more harm than good. The head tax is exactly what it sounds like: a straight levy of $0.14 per hour per employee—about $275 a year for a full-time worker—targeting every business in Seattle with revenues of $20 million or more. The proposal’s backers aim to raise around $48 million per year to fund various affordable housing initiatives in order to...
  • Amazon reacts to Seattle head tax and ‘hostile’ rhetoric

    05/14/2018 6:24:04 PM PDT · by jeannineinsd · 40 replies
    Mynorthwest.com ^ | 5/14/18 | Mynorthwest.com
    Hours after the Seattle City Council passed a head tax on the city’s largest businesses Monday, Amazon issued a statement in response. The online shopping giant is grateful that the city amended its head tax proposal to a lesser amount, but notes that it is wary of city leaders’ attitudes toward business. Amazon’s statement is attributed to Vice President Drew Herdener: "We are disappointed by today’s city council decision to introduce a tax on jobs. While we have resumed construction planning for Block 18, we remain very apprehensive about the future created by the council’s hostile approach and rhetoric toward...
  • Seattle City Council votes 9-0 for scaled-down head tax on large employers

    05/14/2018 5:26:38 PM PDT · by jeannineinsd · 35 replies
    Seattle Times ^ | 5/14/18 | Daniel Beekman
    The council approved a tax of $275 per employee, per year on for-profit companies that gross at least $20 million per year in the city — down from a $500-per-head tax Mayor Jenny Durkan had threatened to veto. The Seattle City Council voted unanimously Monday to adopt a new tax on the city’s largest employers to help address homelessness. The ordinance will impose a tax of $275 per employee, per year on for-profit companies that gross at least $20 million per year in the city — down from a $500-per-head tax that Mayor Jenny Durkan threatened to veto. -snip- The...
  • Laffer Curve strikes again: lower tax rates produced more revenue (But Spending Still a Problem)

    05/12/2018 6:23:20 PM PDT · by SeekAndFind · 9 replies
    Calafifa Beach Pundit ^ | 05/12/2018 | Scott Graniss
    Laffer Curve strikes again: lower tax rates produced more revenue The results of last year's Trump tax cut are starting to roll in, and they should not be surprising to students of the Laffer Curve or readers of this blog. As I noted last October, not cutting taxes rates is boosting the deficit: Since early last year (February 2016, to be exact), when talk of tax cuts began to spread and politicians on both sides of the aisle began to agree that our corporate tax rate—the highest in the developing world—should be cut, revenues from corporate and individual income taxes...
  • Fury, frustration erupt over Seattle’s proposed head tax for homelessness services

    05/06/2018 8:45:08 AM PDT · by grimalkin · 32 replies
    Seattle Times ^ | 5/4/2018 | Vianna Davila
    Reaction to a proposed Seattle business tax for housing and homeless services jolted elected officials this week as flare-ups of opposition revealed deep frustration with the city’s handling of its homelessness crisis. If Seattle City Council members were surprised by the reaction — including a raucous town-hall meeting in Ballard and an unexpected protest by construction workers — the response of many residents and business owners seemed to be, what took you so long? “They’re hearing the whole story now,” said Erin Goodman, executive director of the Sodo Business Improvement Alliance, which is holding its own town hall on the...
  • Taxing Remittances Can Build the Wall

    05/05/2018 5:36:03 PM PDT · by SeekAndFind · 11 replies
    American Thinker ^ | 05/05/2018 | By Daniel John Sobieski
    Among the alleged asylum-seekers parked on the U.S. border is a contingent of Hondurans, allegedly fleeing persecution, poverty, crime, and oppression.  If that is the case, then why is the Honduran government helping them, driving them northward under orders given to the Honduran ambassador, who is helping and escorting them? Leaders of a caravan of Central American migrants traveling toward the United States through Mexico have repeatedly accused the Honduran government of corruption and with failing to address the poverty, crime and economic conditions forcing families to flee by the thousands. So it shocked some observers when the Honduran ambassador joined...
  • Do Illinoisans support a progressive tax? It depends on how you ask

    05/01/2018 7:44:32 AM PDT · by AT7Saluki · 11 replies
    Illinois News Network ^ | 5/1/18 | Cole Lauterbach and Greg Bishop
    A poll by the Paul Simon Public Policy Institute at Southern Illinois University showed nearly three-quarters of those asked support a tax that “would be lower for lower-income taxpayers and higher for upper income taxpayers.” When asked if they would support a tax that “would result in single filers earning over $17,300 to pay more in taxes,” support drops to 14 percent. The Illinois Policy Institute asked that question in a poll in late March and early April. “We know we have to increase revenue to get our state out of it (economic trouble) and I believe this (progressive tax)...
  • Boom: Treasury kills 305 regulations, IRS hammered

    04/24/2018 6:33:23 PM PDT · by aMorePerfectUnion · 36 replies
    The Washington Examiner ^ | April 24, 2018 12:44 PM | by Paul Bedard
    Acting on President Trump’s demand that his cabinet secretaries gut Obama-era federal regulations, the Treasury Department on Tuesday said it has cut over 300 standing and proposed rules with a focus on the Internal Revenue Service. In a new 20-page report, Secretary Steven T. Mnuchin highlighted the elimination of 305 regulations, including those proposed, and the wiping away of 298 IRS “deadwood” rules. “Reducing unnecessary burdens will lead to increased economic growth, greater job creation, and a fundamentally stronger economy for our country,” said Mnuchin. “Regulatory reform is a key component of the president’s plan to make American businesses more...