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Keyword: taxcutsandjobsact

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  • AOC allegedly on hook for unpaid seven-year-old tax bill: report

    05/18/2020 3:35:37 AM PDT · by Libloather · 16 replies
    NY Post via Fox News ^ | 5/18/20 | Carl Campanile
    US Rep. Alexandria Ocasio-Cortez wants to raise taxes on the rich - just not pay her own. The Democratic socialist congresswoman from The Bronx still hasn’t paid a 7-year-old tax bill leftover from a failed business venture. AOC had founded Brook Avenue Press, a publishing house that sought designers, artists and writers from urban areas to help paint The Bronx in a positive way in children’s stories, in 2012. As the Post previously reported, public records show the state dissolved the company in October 2016. The state can make such a move when a business fails to pay corporate taxes...
  • GOP Rep. Pete King to buck party, vote for Democrats' coronavirus relief bill

    05/14/2020 4:42:48 PM PDT · by Red in Blue PA · 60 replies
    Rep. Pete King (R-N.Y.) said he plans to buck party lines and vote in favor of the $3 trillion coronavirus relief package proposed by House Democrats and slated to come to the floor on Friday, the New York Times first reported Wednesday. King — who represents one of the hardest-hit districts in the state and is set to retire at the end of this term — said while there are provisions that give him pause, he feels it’s critical that Congress provide funding for state and local governments that have been disproportionately affected by the deadly virus. The New York...
  • Trump’s coronavirus economic recovery playbook includes payroll tax cut, he says

    05/14/2020 5:31:03 AM PDT · by knighthawk · 12 replies
    Fox Business ^ | May 14 2020 | Brittany De Lea
    As the U.S. works to recover from the financial fallout of the coronavirus pandemic, President Trump is preparing a “stronger” playbook than his 2017 policy platform to return the U.S. economy to its former strength, he says, which could include a payroll tax cut. During an interview with FOX Business’ Maria Bartiromo on Thursday, Trump said he liked the idea of a payroll tax cut because it provides a benefit to both businesses and workers. “That’s one of the taxes that I want to see cut,” Trump said. “And by the way, we’ve already given – we’ve given the largest...
  • Gavin Newsom for President?

    05/11/2020 6:15:07 AM PDT · by Kaslin · 44 replies
    American Thinker.com ^ | May 11, 2020 | Eileen F. Toplansky
    If, as Rush Limbaugh has opined, there is no way the Democrat Party will hoist Joe Biden over the finish line, then what do the Democrats have up their sleeve to stay in power? After all, "[t]he Democrats have no enthusiasm. There's no fire in their bellies. They're grumbling even as they're defending Biden. ...[T]hey really couldn't give a damn about Joe Biden." Enter Gavin Newsom. The California governor certainly has the credentials. From the beginning of his term, he blatantly ignored constitutional and immigration law. He has proven that he is a radical illegal immigration advocate, thus adhering to...
  • Eighth Circuit Upholds Determination that Wells Fargo is Liable for Penalties for Engaging in Abusive Tax Shelter Scheme

    04/27/2020 4:07:49 PM PDT · by ransomnote · 4 replies
    justice.gov ^ | April 27, 2020 | DOJ
    WASHINGTON – The Eighth Circuit Court of Appeals issued a precedential opinion on Friday, April 24, 2020, affirming a district court decision that a transaction designed to generate massive foreign tax credits (referred to as the STARS tax shelter) lacked economic substance and business purpose and was subject to the accuracy-related penalty for negligence, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman and Deputy Assistant Attorney General Joshua Wu of the Justice Department’s Tax Division.In Wells Fargo v. United States, No. 17-3578, the Eighth Circuit Court of Appeals affirmed the decision of the U.S. District Court for the District of...
  • IRS urges taxpayers to use electronic options; outlines online assistance (The IRS is not currently able to process individual paper tax returns.>

    04/20/2020 1:01:05 PM PDT · by Raycpa · 29 replies
    IRS ^ | 4/9/20 | IRS
    Paper Tax Returns: All taxpayers should file electronically through their tax preparer, tax software provider or IRS Free File if possible. The IRS is not currently able to process individual paper tax returns. ...... Practitioner Priority Service (PPS): Due to staff limitations the Practitioner Priority Service line is temporarily closed until further notice. The IRS is unable to process Centralized Authorization File (CAF) requests at this time.
  • Joy Reid Tries to ‘Own’ Trump Over Stimulus Checks, But Makes Libertarian Argument Against Taxes

    04/16/2020 4:47:11 PM PDT · by CheshireTheCat · 7 replies
    Legal Insurrection ^ | April 16, 2020 | Mary Chastain
    I’ve noticed those that suffer from severe Trump Derangement Syndrome will even shred apart their ideology in order to own President Donald Trump. MSNBC’s Joy Reid is the latest TDS sufferer to do this. She tried so hard to downplay the stimulus checks people will receive but instead admitted taxation is theft.
  • IRS: First batch of coronavirus stimulus checks have been sent

    04/12/2020 5:12:01 PM PDT · by Bruiser 10 · 60 replies
    NY Post ^ | 12 April 20 | Mark Moore
    The IRS said over the weekend it has started sending coronavirus stimulus payment to eligible Americans who have direct deposit. “#IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts today,” the IRS announced in a tweet Saturday. “We know many people are anxious to get their payments; we’ll continue issuing them as fast as we can.” The payments are part of the $2.2 trillion package passed by Congress at the end of March intended to help workers who have been laid off or furloughed and to give businesses a financial boost to offset the dire economic effects caused...
  • New IRS Site Could Make it Easy for Thieves to Intercept Some Stimulus Payments

    04/11/2020 10:41:21 AM PDT · by aimhigh · 14 replies
    Krebs on Security ^ | 04/11/2020 | Brian Krebs
    The U.S. federal government is now in the process of sending Economic Impact Payments by direct deposit to millions of Americans. Most who are eligible for payments can expect to have funds direct-deposited into the same bank accounts listed on previous years’ tax filings sometime next week. Today, the Internal Revenue Service (IRS) stood up a site to collect bank account information from the many Americans who don’t usually file a tax return. The question is, will those non-filers have a chance to claim their payments before fraudsters do? . . . . In this case, fraudsters would simply need...
  • Progressive youth groups issue demands for Biden ahead of general election

    04/08/2020 12:55:44 PM PDT · by yesthatjallen · 31 replies
    The Hill ^ | 04 08 2020 | Tal Axelrod
    A slate of progressive youth groups have issued a list of demands they want to see presumptive Democratic presidential nominee Joe Biden adopt ahead of the general election. Eight progressive groups said in a joint letter released Wednesday that they feared Biden’s centrist policies would alienate younger voters, who trend more liberal, and hinder Democrats’s efforts to unseat President Trump in November. The groups noted that while Biden racked up delegates with a March winning spree, he consistently ceded voters under 45 years old to Sanders in the primaries. SNIP While Sanders, who had garnered the endorsements of all eight...
  • Millions of low-income Americans at risk of missing out on stimulus payments

    04/08/2020 10:07:24 AM PDT · by BenLurkin · 45 replies
    KTLA ^ | 04/08/2020
    There are as many as 10 million low-income, childless adults in the United States who are eligible for the federal government’s stimulus payment program, but are at risk of missing out on the money, according to tax experts. That’s because they aren’t required to file tax returns, making it harder for the IRS to verify their income — or even to know who they are or where to find them. “These folks are very disconnected from the tax system." By law, people don’t have to file if they earn less than $12,200. Those without children aren’t eligible for the child...
  • IRS releases more info on how to get coronavirus stimulus checks ASAP

    03/31/2020 6:15:06 PM PDT · by upchuck · 50 replies
    NBC ^ | Mar 31, 2020 | Sahil Kapur
    New information from the IRS on Monday shines more light on what people can do to get their checks from the government as quickly as possible while many families worry about paying the bills and buying food during the coronavirus crisis, which has cost millions of people their jobs. For Americans eligible for stimulus cash under the new relief law, the fastest way to receive it is to make sure they've filed a tax return for 2019 or 2018 with bank information so the government can deposit the money directly. The IRS says it will use people's 2019 returns to...
  • Calculate how much you might get from coronavirus relief package

    03/27/2020 8:29:57 AM PDT · by Freedom'sWorthIt · 48 replies
    WRAL.com ^ | 3/27/20 | WRALTV
    The federal government is poised to send checks — or make direct deposits — to most Americans to help people survive financially in the wake of the COVID-19 coronavirus pandemic. The health crisis has evolved into an economic crisis as businesses and schools shut down to slow the spread of the virus. Based on the CARES act approved by the U.S. Senate late Wednesday, many American would receive a payments of $1,200, and families would see an extra $500 per child they claim as a dependent on their tax returns. Want to know how much you are projected to receive?...
  • $2 trillion in debt-financed coronavirus relief will cost future generations dearly

    03/26/2020 8:43:43 AM PDT · by Steve1999 · 34 replies
    Washington Examiner ^ | 03-26-20 | Brad Polumbo
    It makes sense that the federal government is stepping in to provide financial relief to the millions of citizens facing economic ruin due to the coronavirus crisis and subsequent government restrictions on activity. But what’s unconscionable is the fact that, thanks to the way Congress spent the last decade ignoring any sense of fiscal responsibility, coronavirus relief must come at the cost of further indebting future generations and dimming the outlook of our financial future. It’s not the $2 trillion price tag on the coronavirus relief bill, passed Wednesday evening by the Senate, that does this in and of itself....
  • All You Wanted To Know About Those Tax Stimulus Checks But Were Afraid To Ask [It's Forbes, so EXCELLENT information!]

    03/26/2020 8:18:15 AM PDT · by catnipman · 149 replies
    Forbes ^ | 3/26/2020 | Kelly Phillips Erb
    When will I get my check? Checks are supposed to be produced “as rapidly as possible,” but it’s been suggested that could take up to two months. If you use direct deposit, it will be faster. How big will my check be? Checks will be $1,200 per adult - or $2,400 for married couples filing jointly - and an additional $500 per child. Today In: Taxes Are there income limits on checks? The amount of the checks would start to phaseout for those earning more than $75,000 ($150,000 for joint returns and $112,500 for heads of household). This is adjusted...
  • Check Will Soon Be In The Mail For 120 Million Taxpayers

    03/26/2020 7:30:27 AM PDT · by Helicondelta · 73 replies
    washingtontimes.com ^ | March 26, 2020
    About 120 million U.S. taxpayers will qualify for direct payments from the government under the historic $2.2 trillion economic relief bill to combat the impact of the coronavirus, according to a conservative advocacy group’s analysis. Treasury Secretary Steven T. Mnuchin has said checks of up to $1,200 per person and $500 per child will go out within three weeks of President Trump signing the legislation, which could come as early as Friday. The IRS will send the money by direct deposit to taxpayers who have set up that capability; otherwise checks will be mailed. Individuals with income up to $75,000...
  • Failure of Coronavirus Bill to Address Economic Collapse

    03/25/2020 1:57:18 PM PDT · by slowhandluke · 14 replies
    Armstrong Economics ^ | 3/25/2020 | martin armstrong
    ...The relief for small businesses is not adequate. A tax credit for some small businesses for 50% of wages paid to employees during the coronavirus crisis is absurd. Most have been ordered to be closed so there were no wages and they had to fire employees so they could collect unemployment. They need business loans suspended and property taxes. That will put pressure on states to lift the absurd closures.
  • Trump Calls for American Independence Agenda to Defeat Coronavirus: U.S. Must Never Rely on a Foreign Country

    03/24/2020 6:38:49 PM PDT · by bitt · 48 replies
    Breitbart ^ | 3/24/2020 | John Binder
    President Trump is calling for Republicans and Democrats to unite behind his American independence agenda to defeat the spread of the Chinese coronavirus. During a Tuesday press conference, Trump detailed the “critical” need for American independence in manufacturing, the energy sector, and territorially at the nation’s borders to stop the coronavirus crisis: "We should never be reliant on a foreign country for the means of our own survival. I think we’ve learned a lot. This crisis has underscored just how critical it is to have strong borders and a robust manufacturing sector. For three years, we’ve embarked on a great...
  • Brief Explanation of the Victory Tax

    03/24/2020 9:37:04 AM PDT · by eyeamok · 3 replies
    constitution.org ^ | unknown | unknown
    The scope of the I.R.C. never targeted all individuals in the union. Only for a brief period, and under war powers, were all individuals made subject to taxation of income. The repeal of the Victory Tax means the scope of what is taxed was restored to its original intent, and individuals in the states of the union do not have to pay taxes on their incomes. And as the Victory Tax was the only act to have levied any such tax, the scope of taxation has never again expanded to include the whole of The United States of America.
  • Romney calls for government to send $1,000 check to every adult to deal with coronavirus

    03/16/2020 9:35:11 AM PDT · by kevcol · 209 replies
    Washington Examiner ^ | March 16, 2020 | Susan Ferrechio
    Mitt Romney called on the federal government to send every adult $1,000 immediately to help cope financially with the economic damage caused by the spread of the coronavirus. “Every American adult should immediately receive $1,000 to help ensure families and workers can meet their short-term obligations and increase spending in the economy,” Romney, a Utah Republican senator and 2012 presidential nominee, said in a statement.