Understand the Situation: Federal income tax removal is unlikely because of tariff revenue.
Trump’s Tax Claims and Tariff Revenue Recently, President Donald Trump asserted that thanks to tariffs, Americans might soon stop paying federal income taxes altogether. However, experts are skeptical about these lofty claims. In a Thanksgiving message to service members, Trump suggested that tariffs could lead to drastic tax cuts, possibly eliminating income taxes entirely. He […]
Understand the Situation: Ending federal income tax seems improbable because of tariff income
Trump’s Claims About Tariffs and Income Tax President Donald Trump has recently suggested that Americans might soon cease paying federal income taxes due to the revenue generated from tariffs. However, experts are skeptical of these claims, indicating they might be inflated. “In the coming years, I think we’re going to cut income taxes, possibly almost […]
House group from both parties reveals a plan to extend ACA premium tax credits
Bipartisan House Members Propose Two-Year Healthcare Framework A bipartisan coalition of House representatives revealed a two-year healthcare framework on Thursday that aims to keep the Affordable Care Act’s (ACA) enhanced premium tax credit from expiring at the end of this year. Rep. Mike Lawler, R-New York, emphasized the significance of the situation. “The question is […]
Updated 2025 New Castle County property tax statements are being sent to residences.
After a property tax reassessment, a lawsuit, and potentially an appeal, residents of New Castle County will soon receive their final property tax bill for 2025. The county is set to mail revised property tax bills during the week of November 24-28, 2025, sending copies to both property owners and, when necessary, their mortgage companies. […]
Nancy Mace Withdraws Bill to Address Food Stamp Fraud Taking Your Tax Money
Rep. Nancy Mace Targets SNAP Fraud with New Bill Republican Representative Nancy Mace from South Carolina is taking aim at SNAP fraud by proposing legislation that would mandate photo identification on Electronic Benefits Transfer (EBT) cards. If passed, this bill would revise the Food and Nutrition Act of 2008 to require EBT cards to display […]
IRS discontinues well-liked free service before the 2026 tax season: What happens now?
IRS Shuts Down Direct File Tax Service The Internal Revenue Service has discontinued a widely used service that allowed taxpayers to file their taxes directly without cost. This initiative, known as Direct File, was launched by the U.S. Treasury and the IRS in early 2024, aiming to help people file taxes independently and save money. […]
On Your Side: If you own a newer vehicle, verify this on your property tax bill.
Tax Assessment Confusion for Greene County Drivers SPRINGFIELD, Mo. – It’s a good reminder to take a second look at your personal property tax return, especially if you recently bought a new car. What’s happening is that county collectors are sending out tax bills at the end of the year, and many Greene County taxpayers […]
Declining cryptocurrency values create a ‘unique’ opportunity for investors to utilize a traditional tax approach, according to a CPA.
The Current State of the Cryptocurrency Market The virtual currency market is experiencing a downturn. Bitcoin, the largest cryptocurrency globally, saw a 6% drop during trading on Monday, marking its most significant single-day fall since March. While it has seen a bit of a rebound and is currently priced around $93,000, it remains approximately 25% […]
Gavin Newsom Advocates for a Retroactive Tax on Those Who Left the State
While Governor Gavin Newsom (D-Calif.) is initially focusing on billionaires, the idea of implementing retroactive taxes—even for those who have left California—should raise concerns among all residents or former residents of the state. “Newsom is advocating for a retroactive tax on millionaires that would affect around 220 billionaires residing in California by 2025,” according to […]
Governor Gavin Newsom is against California’s ‘billionaire tax’ while considering a run for the presidency in 2028.
There’s a significant push in California to reform the healthcare system, targeting the state’s wealthiest individuals. Governor Gavin Newsom has come out as a notable opponent of this initiative. A political consultant named Dan Newman expressed that Newsom is against a proposed one-time 5% tax aimed at around 200 billionaires with fortunes exceeding $1 billion. […]