Cook County residents could receive automatic refunds on overpaid property taxes, and here's how to check – NBC Chicago
More than 10,000 Cook County property owners overpaid their property taxes last year, and the Treasury Department is sending out millions of dollars in automatic refunds. Treasurer Maria Pappas said the $22 million in refunds are expected to be distributed in the next few days, and in most cases, those eligible for the refunds will […]
US should raise taxes, wait until late 2024 to cut rates: IMF
The International Monetary Fund said Thursday that the Federal Reserve should not cut interest rates until “late 2024” and that the government needs to raise taxes to rein in the growing federal debt, including on households earning less than $400,000 a year, as defined by President Biden. The prescription is set out in a detailed […]
Scrapping Taxes on Tips Part of GOP Being ‘Party of the Working Class’
House Ways and Means Committee Chairman Jason Smith (R-Missouri) spoke with Breitbart News on Wednesday about the upcoming Trump tax cut bill and the repeal of the tip tax. Smith spoke with Breitbart News Washington bureau chief Matthew Boyle at the Republican National Convention in Milwaukee, Wisconsin. Related video — Senator Daines on the tip […]
How Project 2025 might increase your taxes, for better or worse – WKRC TV Cincinnati
UNDATED (WKRC) – Project 2025 has been much discussed over the past few months, but it’s important to understand how the plan will affect you, starting with your taxes. Project 2025 is a 900-page guide for the next Republican president to overhaul many existing government programs, including the current tax code. The current tax system […]
IRS reports collecting $1 billion from rich households’ back taxes – The Washington Post
The IRS announced Wednesday that it has collected $1 billion in taxes and penalties from hundreds of wealthy households who have accumulated years of delinquent tax debt amid a weakening of IRS enforcement. “The tax claims were not even in dispute. Clearly these people owed back taxes,” IRS Commissioner Danny Wuerfel said on a conference […]
Treasury, IRS announce 'major milestone' of $1 billion in past-due taxes collected from millionaires – CNBC
Internal Revenue Service Commissioner Danny Wuerfel testifies to the House Appropriations Committee on Capitol Hill in Washington, May 7, 2024. Kevin Dietsch | Getty Images News | Getty Images “The IRS has collected $1 billion from billionaires, successfully launching a strategic new program and demonstrating that we can achieve the greatest return on investment,” Treasury […]
GOP Senate Hopeful Unveils Bill Critics Warn Could Lead To Carbon Taxes
Republican Utah Rep. John Curtis unveiled a bipartisan bill Tuesday that critics fear could be the first step toward domestic carbon taxes. Curtis, who is running for U.S. Senate in Utah, introduced the PROVE IT Act in the House alongside Democratic California Rep. Scott Peters, putting forward the complement to the already-introduced Senate version of […]
Jeff Bezos Saves $1 Billion in Taxes by Moving to Florida
Amazon founder Jeff Bezos recently relocated to Miami, Florida, to avoid Washington state’s state capital gains tax and save nearly $1 billion in taxes on recent stock sales. CNBC Reports Amazon founder and billionaire Jeff Bezos is once again in the spotlight not only for a massive stock sale, but also for the significant tax […]
EXCLUSIVE: GOP Rep Introduces Legislation To Eliminate Income Taxes On Overtime Pay
Republican Idaho Rep. Russ Fulcher introduced legislation Monday that would eliminate income taxes on overtime pay. The KEEP Act, first obtained by the Daily Caller, would specifically eliminate income taxes rather than payroll taxes to ensure that Social Security, Medicare and unemployment funding remain unaffected. Under the bill, Americans currently eligible for overtime, as defined […]