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Jurisdictional Dispute Blocks Decision o...

After 32 years, Camp Li-Wa lost a religious property tax exemption from the Borough of Fairbanks North Star, then appealed. It was four years ago. There are now four cases pending and none of the major legal issues, whether state court is the proper forum for appeals of tax assessor decisions, have been resolved. After […]

Our tax system urgently needs an overhau...

  Author: Sebastian Chambers, author of The A-Z of Inequality August 31, 2022 During the financial crisis, the then British Chancellor, George Osborne, exclaimed that “we are all in this together”. This was not true then and over the next twelve years it has become abundantly clear that those who own property, businesses and other […]

AICPA CEO Says Weaponized IRS Claims Are...

Following the announcement that the Internal Revenue Service (IRS) will use Inflation Reduction Act (IRA) funding to employ 87,000 new officers to bolster taxpayer enforcement efforts, the American Institute of CPAs (AICPA) publishes comments regarding this funding. . In a statement, AICPA President and CEO Barry Melancon, CPA, CGMA, addressed various false allegations regarding the […]

Brazilian treasury to present proposal f...

A man is pictured on Paulista Avenue in the financial center of Sao Paulo, Brazil December 8, 2016. REUTERS/Nacho Doce Join now for FREE unlimited access to Reuters.com Register BRASILIA, Aug 30 (Reuters) – Brazil’s economy ministry is preparing a new budget model to be presented after October’s presidential elections, aimed at loosening the constitutional […]

Opinion: The Bizarro universe of the fir...

Links to the breadcrumb PF Comment Neal Winokur: How like Ottawa to conjure up redundancy in an already complicated tax system The basic mechanics of the first home ownership savings account, or FHSA, already exist within the RRSP through the Home Buyers’ Plan. Photo by Peter J. Thompson/National Post Content of the article The federal […]

Public transport will be exempt from FBT...

Public transport will be exempt from benefits tax under proposals in an annual tax bill tabled today. Revenue Minister David Parker said the exemption contained in the Taxation Bill (Annual Rates for 2022-2023, Platform Economy and Remedial Matters) will apply where rates are subsidized by a employer and that the fares are primarily intended […]

Google AI spots 20,000 undeclared pools ...

The artificial intelligence software crossed aerial photographs with cadastral databases to find the tax evaders. Artificial intelligence (AI) software developed by Google has found thousands of undeclared swimming pools in backyards across France, resulting in a hefty tax bill for the owners of these pools totaling $14.5 million. The AI ​​software was launched in 2021 […]

As Illinois income and property tax refu...

In just a few weeks, Illinois residents will begin receiving tax refund checks. On September 12, the state will begin distributing one-time income and property tax relief payments, which were included in the Family Relief Plan, part of Illinois Governor JB’s budget. Pritzker, signed into law earlier this year. Payments won’t be released to everyone […]

Axel Royal LLC Confirms Recent Data Brea...

On August 23, 2022, Axel Royal LLC (“Axel”) reported a data breach on the company’s website as well as to various state attorney general offices. According to Axel, the breach resulted in names, driver’s license numbers, state identification numbers, financial account information, payment card information, medical information, health insurance information, security numbers social security, passport […]

NAM Files Lawsuit Against SEC for Revoca...

The U.S. Securities and Exchange Commission has struck down key parts of a landmark 2020 rule regulating so-called “proxy advisory firms” — and NAM is fighting back in court. The long road here: In 2020, after years of NAM advocacy, the SEC finalized a major rule designed to address proxy firm errors and conflicts of […]

Lawyers fight bill requiring them to rep...

Lawyers are pushing back against anti-money laundering legislation that would require them to report suspicious customer transactions, as banks must already do. U.S. House lawmakers led by Tom Malinowski (DN.J.) and Maxine Waters (D-California) spearheaded the provision of that body’s version of the bill authorizing defense. The requirement would also apply to accountants, payment service […]

FIRS and the power of the tax administra...

Over the years, there have been experiences of conflict, controversy, misunderstanding and widespread ignorance of the powers, roles, responsibilities and mandate of the Federal Inland Revenue Service (FIRS) to administer tax laws to generate revenue for the federal government. This has resulted in countless legal and administrative wrangles, which sometimes deprive the government of its […]

How to save tax on the sale of residenti...

If you sell your home after two years (i.e. 24 months) from the date of purchase, the gain, if any, will be treated as a long-term capital gain (LTCG). The LTCG is not only taxed at a flat rate of 20%, but also allows you to claim indexation benefits and provides various investment opportunities to […]

Tax regime without exemption needs to be...

With few takers for the income tax scheme with no exemptions even after two years of its introduction, the government could consider allowing some basic deductions and making the slabs more graduated to make it more attractive to taxpayers under different tranches, according to analysts. However, the dual regime tax regime may continue for another […]

Satanic Temple Gets Permission to Host P...

The Satanic Temple is holding an event at a Pennsylvania high school next month after the local school board said Friday it must approve the group’s application. The York County North School District said it had approved a request for “the Satanic Temple to use our facilities as we were required to do by Police […]

NM’s big budget surplus means big opport

Last week, New Mexico received some big news. When our legislature meets in January to develop our annual budget, we could have up to $2.45 billion more than what we allocated this year. It’s a hard number to pin down, but I think we can all agree that it’s a lot of money. It’s also […]

California Tax Budget Bill Review

On August 26, Assembly Bill 158 by the Assembly Budget Committee was gutted and amended to address tax relief. The bill would modify articles 17053.71, 17131.8, 23628 and 24308.6, add article 17053.75 and repeal and add article 19551.3 of the Revenue and Tax Code, modify article 8161 of the Code of Social Protection and Institutions […]

Amarillo Area Public Meetings for the we...

Monday Amarillo Economic Development Corporation Board of Directors 11 a.m.: Suite 1600, First Bank Southwest Tower, 600 S. Tyler, Suite 1600 Executive Session: Deliberation and/or discussion of various business prospects – transportation and manufacturing, purchase of real estate in the northeast quadrant of the city of Amarillo; discuss, consider and take appropriate action regarding the […]

Guest Comment: Navarro County Commission...

The historic assessment increases of last spring are still fresh in the minds of Navarro County property owners, but now exorbitant tax increases threaten to create real pain. The upcoming Navarro County Commissioner’s Court will consider approving the Voter Approval Rating — the maximum tax increase allowed by state law without seeking voter approval. Although […]

401(k)s should not be overlooked when ch...

Many workers who change jobs in the wake of the pandemic — whether for more money, better opportunities for advancement, or flexible hours — risk overlooking an important factor: their retirement savings. Those who increase their income by changing jobs should be able to save more money, which bodes well from a retirement savings perspective, […]

‘Working together’: Johnstown government

JOHNSTOWN, Pa. — There are only eight months left until Johnstown is due to leave Pennsylvania’s Law 47 program for municipalities in financial difficulty on April 28. Government officials generally speak optimistically about the city’s economic situation ending in the black for five straight years through 2020, with the 2021 audit pending; boosted its pensions […]

BusinessWise Accounting and Taxation | ...

BusinessWise Accountancy and Tax is a small and growing accounting firm in Chesterfield. Having identified a growing need in the local market for an accountancy firm focused on business strategy, owner Graham Nash launched the firm in 2020, with the initial goal of helping turn businesses around and help them recover from the pandemic. We […]

Round Rock gives initial approval for $5...

Round Rock City Council on Thursday passed a budget of $555.5 million and a tax rate of $0.342 per $100 of home assessment for the 2022-23 fiscal year. The council will consider the budget and tax rate again in a second public hearing and final vote on September 8. The owner of an average home […]

Former Hillandale Farms accountant plead...

PITTSBURGH — A Canonsburg, Pennsylvania resident pleaded guilty in federal court to conspiracy to commit fraud, conspiracy to launder money and tax evasion, U.S. Attorney Cindy K. Chung announced today. Jonathan A Weston, 58, pleaded guilty on August 23, 2022 to three counts before U.S. District Judge W. Scott Hardy. As part of the guilty […]

Tax Court Says When Deathbed Gifts Are O...

A new case in the Tax Court, CT Memorandum 2022-72, 7/12/22answers the question: when are “death gifts” considered complete for estate and gift tax purposes? Background: There are two powerful tax law provisions that can help most taxpayers avoid federal estate tax altogether or, at the very least, reduce it. 1. Annual exclusion from gift […]

Property taxes: what they are and how to...

As a homeowner, you will have expenses to cover as long as you own the home. One of these expenses is the property tax. Property taxes are paid annually to your state and municipality. The median annual property tax bill in the United States is $2,578, but your tax bill will vary depending on where […]

Are social security, disability benefici...

by: Alix Martichoux, Nexstar Media Wire Job : August 26, 2022 / 07:49 PDT Updated: August 26, 2022 / 07:49 PDT (NEXSTAR) – Millions of Californians eagerly await their middle-class tax refund – also called “inflation cut” payments by lawmakers – as we inch closer to October disbursement dates. This is not the first time […]

Menasha referendum could be half school ...

reader question: The Menasha School District says its $99.7 million referendum will not increase school taxes, due to repayment of previous debt. I understand, but how much would school taxes go down if the referendum was not passed? Answer: School administrators don’t like to talk about it because they are focused on meeting an identified […]

Tax evasion blotter: Clip seals

Turn on two timers; framed; the 30% solution; and other highlights of recent tax cases. Vegas: Real estate professional Scott Lawrence has pleaded guilty to federal tax evasion. From approximately 2009 to 2019, Lawrence owned and operated Turn Two Inc., a real estate company. In 2010, the IRS withdrew Lawrence’s personal bank account to settle […]

Kansas House Democrats propose package o...

TOPEKA — Democratic Kansas House candidate Kim Zito earned an undergraduate degree in 1997 and finished graduate school a decade later, but she still struggles with unpaid college loan debt. President Joe Biden’s new federal loan forgiveness initiative would reduce the federal student loan balances of millions of people by up to $20,000. This would […]

NYC to give $150 property tax rebate to ...

picture by Darian Chamkhali on Unsplash Mayor Eric Adams on Wednesday signed legislation that will give hundreds of thousands of homeowners to New York a one-time property tax rebate up to $150. Those eligible for the rebate are owners of single-family, two-family or three-family residences with an annual income of less than or equal to […]

Inflation’s harsh realities exposed as F

JACKSON HOLE, Wyoming (AP) — About a half-hour drive from the resort town where the high priests of international finance — top economists and central bank officials — gathered in Jackson Hole, Wyoming, to discuss global economic challenges, Ash Hermanowski oversees the distribution of approximately 1,200 free meals a day. At a food bank called […]

New UK PM must be radical to end electri...

Electricity pylons are seen in Wellingborough, Britain March 30, 2022. REUTERS/Andrew Boyers Join now for FREE unlimited access to Reuters.com Register LONDON, Aug 25 (Reuters) – Britain’s next prime minister must adopt sweeping ideas – such as reduced electricity rates, freezing energy bills or a “solidarity” tax hike for high earners – to cushion the […]

How to Talk to Your Clients About the IR...

By Ernie Villany, CPA. There are times when our consulting services are important. It’s one of them. As you may have noticed recently, the IRS has been a frequent topic in the 24-hour news cycle. The problems and challenges faced by the government tax assessment and collection agency have been well documented and quite noticeable […]

2022 Child Tax Credit: Are You Eligible ...

Since another enhanced child tax credit law is unlikely to be enacted, about 16 states plan to send more money to families between this year and next. An attempt to include the child tax credit in the Inflation Reduction Act was quickly voted down by a vote of 97 to 1. Parents received their final […]

CFOs should ask these strategic question...

According to a exam by the Center for Audit Quality in August 2021, 95% of S&P 500 companies have made detailed environmental, social and governance information available in some form. But some regulators, investors and other stakeholders are clearly unhappy with these efforts. Organizations seeking to disclose their ESG activities have faced a wide range […]

Pasco approves school tax, chooses schoo...

In a vote that will have a lasting impact on public schools in Pasco County, voters approved raise their property taxes to increase the salaries of district employees. With most ballots counted, the referendum received around 59% of the vote. Proponents have argued that the tax of up to $1 per $1,000 of assessed value […]

Determining an individual’s residency st

Finance Act 2022 has practically decided that a Pakistani citizen can be taxed in Pakistan even if he never comes to Pakistan. It is a bad law, which deserves serious consideration. In the following paragraphs, this subject is dealt with as follows: An individual’s residence status is governed by Section 82 of the Income Tax […]

LBMC Announces Key Talent Acquisitions i...

NASHVILLE, TN–(BUSINESS WIRE)–August 23, 2022– LBMC, one of the nation’s leading accounting and consulting firms, is pleased to announce the addition of two executives to align with the company’s continued growth and expansion into the areas of high net worth and international taxation. Bringing in national tax experts like David Frederick and Dennis Metzler is […]

How to plan for retirement? Check the A...

By Anshul August 23, 2022, 4:29 PM IST (Released) mini Retirement planning: The key to a successful retirement life is building a retirement corpus from an early age, to meet the cost of living, inflation and future healthcare costs. If you’re young now, retirement may seem like a distant concern. However, it’s important to start […]

Tyler ISD cuts tax rate and increases st...

TYLER, Texas (KETK) — The Tyler ISD Board of Trustees approved its overall budget for the 2022-2023 school year at its meeting Monday. This budget includes a tax rate cut of 10.98 cents and an increase in teacher compensation. The district’s budget will be more than $169.5 million for the school year, which includes a […]

Washington’s gun hoard and the taxman

OPINION: “A permanent military force, with an oversized executive, will not long be a sure companion of freedom.”—James Madison Conspiracy theories sometimes contain at least a thread of truth, which makes them valid for some on the far right. One of these theories is that the federal government is not on their side. Concerns have […]

The Coweta Community Foundation encourag...

The Coweta Community Foundation will celebrate its 25th anniversary this fall and mark the occasion by increasing grant amounts in its next cycle of traditional grants. The Foundation awarded $31,100 in grants in 2021, awarding 25 grants in the range of $1,000 to $2,000. This year, the Foundation plans to award more than $80,000 in […]

Canada’s new Tax-Free Home Savings Accou

New details about Canada’s new Tax-Free Home Savings Account (FHSA) have come out, and it could be a good option for anyone looking to foray into the housing market in the future. FHSA will hit the scene in Canada in 2023 and a recent Press release described what it might look like. The goal of […]

The IRS may be about to change the way A...

(The hill) – The IRS could be about to revolutionize the way Americans file their taxes. The Cut Inflation Act signed into law by President Biden on Tuesday provided the agency with $80 billion in funding, including $15 million to produce a report on a free, government-run electronic reporting system that proponents of tax simplification […]

Members of Congress use tax-funded radio...

Some may look like campaign ads, but congressman radio ads are taxpayer-funded and go through a bipartisan process to get aired. In the Mahoning Valley, U.S. Representatives Bill Johnson, R-Marietta and Dave Joyce, R-Bainbridge, broadcast radio advertisements with the final warning: “Paid from official funds authorized by the House of Representatives.” The two […]

FIRS certifies that donations to Adeosun...

The Federal Inland Revenue Service (FIRS) has certified that corporate donations to the former finance minister, Ms. Kemi Adeosun’s charity, DashMe Foundation, are tax deductible. The government revenue agency has therefore issued a tax-deductible donation certificate to the DashMe Foundation. The certificate was issued to the foundation last Thursday in Abuja. DashMe, a charity based […]

UK’s Truss to review tax and strike rule

Breadcrumb Links (Bloomberg) – Liz Truss, the favorite to become Britain’s next prime minister, will rethink taxes paid by the self-employed and try to limit disruptive strikes, according to an interview with the Sun newspaper. Author of the article: Bloomberg News Benjamin Robertson Liz Truss, Britain’s Foreign Secretary, answers questions from party members in the […]

Palestinians working in Israel strike to...

TULKARM, West Bank, Aug 21 (Reuters) – Tens of thousands of Palestinians employed in Israel staged an all-day strike on Sunday to protest the decision to pay their wages into bank accounts instead of cash. The new method of payment was agreed between Palestinian and Israeli authorities seeking a more efficient and safer way to […]

Amid federal treasury debt, New York bus...

COLONY — New York businesses continue to emerge from the peak of the COVID-19 pandemic two years ago, with ongoing supply chain issues, higher costs and difficulty finding employees. And now they’re being hit with what you might call a state COVID tax. Businesses across the state recently learned they have until Sept. 30 to […]

IRS funding boost becomes a political ta...

As Congress prepared to vote on President Joe Biden’s $700 billion climate, tax and health care bill earlier this month, the head of the US tax collection agency Taxes sent a letter to lawmakers arguing for its passage. Charles Rettig, commissioner of the Internal Revenue Service, knew that an $80 billion funding increase for the […]

Why Streamlining the Goods and Services ...

Express press service NEW DELHI: With multiple Goods and Services Tax (GST) rates, taxpayers find it difficult to classify goods and services under the correct bracket. Although the GST Department has provided frequent clarifications, there are still loopholes in the current system that allow many taxpayers to avoid paying high taxes. In order to improve […]

The Joplin School Board will establish a...

The Joplin School Board will establish a tax levy for the 2022-23 academic year on Tuesday that remains unchanged from last year. The proposed tax levy for fiscal year 2023 is $3.66 per $100 of assessed assessment, the same as last year, according to documentation provided to the board. The amount would be split into […]

These 12 States Don’t Tax Social Securit

Nobody likes paying income taxes, but for retirees, a Social Security tax bill can just add insult to injury. For those living on a fixed income, having to pay a portion of their monthly Social Security checks to the IRS means a lot less money to cover basic living expenses. Fortunately, most states do not […]

Five Laws Every Businessman Must Know in...

Like in any other country, there are laws that govern business in Nigeria. These laws are important to businesses and their dealings with individuals, government organizations, and other businesses. These laws serve as a guide for maintaining order, safeguarding rights, setting standards and settling disputes. As an entrepreneur, it is important to know these laws. […]

gst: beyond GST, how technology can impr...

Digital transformation is the buzzword in all businesses today, including finance. While in the area of ​​taxation, the government has taken the lead in digital tax administration, the business sector is still largely focused on the filing of the Goods and Services Tax (“GST”) as an enabler. key technology. However, globally, and some companies in […]

Ketchikan City Council approves seasonal...

Ketchikan Town Hall on June 11, 2020 (KRBD file photo by Maria Dudzak) Sales taxes within the city limits of Ketchikan increase starting next April, but will decrease the following October. Ketchikan City Council on Thursday approved a new seasonal sales tax system in an effort to take advantage of the summer tourist season. https://www.krbd.org/wp-content/uploads/2022/08/19TaxApproved.mp3 […]

With state revenues surprisingly high, Y...

As Virginia took in about $1.9 billion in windfall revenue last fiscal year, Governor Glenn Youngkin’s administration is proposing to invest $400 million in a new state taxpayer relief fund. . “The right thing to do is to return unforeseen income to taxpayersRepublican Youngkin told members of the House and Senate committees that oversee Virginia’s […]

Minnesota Nonprofits—Bread and Butter Re

Most of the 50 states (and the District of Columbia) have specific statutory regimes for nonprofit corporations. Some states, such as Delaware, regulate nonprofit corporations under general corporate statutes. For the past 15 years I have represented non-profit organizations across the United States which has given me the need, opportunity and desire to learn about […]

How to Start a Business in Florida (2022...

To start a business in Florida, you will need to choose a business name and decide on your business structure. There are several types of business entities, including sole proprietorships, limited liability companies (LLC), limited liability partnerships (LLP), and corporations. Individual business A sole proprietorship is an unincorporated business that has only one owner. Unlike […]

Taxation key to development, says ODIRS ...

Mr. Tolu Adegbite, Chairman of the Ondo State Internal Revenue Service (ODIRS), said taxation is very important for the development of any country. Adegbie said so in his lecture titled “Tax, The Future and You,” during a program organized by the Elizade University Tax Club (EUTC), on Friday in Akure. The President, represented by the […]

Want a better IRS? Simplify the tax cod...

Comment this story Comment One of the most visible elements of the tax and spending program known as the Cut Inflation Act is the vastly increased funding for the Internal Revenue Service. The promised flood of cash – an additional $80 billion over ten years, compared to base annual spending of around $15 billion – […]

Republicans call it an ‘army,’ but IRS h

WASHINGTON (Reuters) – New hires from the U.S. Internal Revenue Service (IRS) over the next decade will primarily replace retired baby boomers, answer taxpayer questions and program new computers, said US Treasury officials and tax experts, responding to Republican claims that the IRS will hire 87,000 new agents to harass Americans about their taxes. Republican […]

1H2022: NBP pre-tax profit climbs 21% to...

KARACHI: The Board of Directors of National Bank of Pakistan “NBP” “the Bank” met on Wednesday to approve the condensed interim financial statements for the six-month period ended June 30, 2022. With volumetric growth in average earning assets coupled with positive rate variance, the NBP recorded a 66% growth in gross interest income which reached […]

Pascrell seeks plan for IRA funds to pro...

Pascrell seeks plan for IRA funds to prosecute wealthy tax cheats and improve taxpayer services Oversight subcommittee chair seeks details from IRS on how it will implement tax loophole enforcement, improve services to expedite refunds, and oppose baseless attacks on tax loophole enforcement IRS law WASHINGTON, DC – U.S. Congressman Bill Pascrell, Jr. (D-NJ-09), chairman […]

Tax professionals can help extended fili...

As we approach the October 17 filing deadline for the 19 million taxpayers who have requested extensions, remember that there are important tax credits and deductions, some relatively new, that may provide significant benefits to our taxpayer customers.This year, the IRS has received 19 million requests for extensions through October 17. Tax professionals should carefully […]

Expanding the child tax credit would imp...

Comment this story Comment Comedian George Carlin once joked – in a routine that has captured attention since the Supreme Court overturned Roe vs. Wade — that pro-life conservatives “obsess over the fetus from conception to nine months,” but “once you’re born, you’re on your own.” Democratic politicians and left-leaning pundits rattled off various versions […]

Arkansas Income Tax Cuts: Accelerating R...

With the passage of SB1 at the third special session of the General Assembly, Arkansas last week became the 13th state to allow a reduction in the personal income tax rate this year. This round of income tax cuts in Arkansas effectively accelerated reforms that policymakers passed eight months ago. The December 2021 changes put […]

Misguided IRS funding for law enforcemen...

Whatever your politics, I think we can all agree that the IRS is underfunded, understaffed, and has ridiculously outdated technology that prevents it from performing even its most basic functions competently or effectively. . While I’m glad the Cut Inflation Act includes significant funding for the IRS, I remain frustrated with the hyper-focus on enforcement […]

Japan wants young people to drink more a...

Tokyo CNN — The Japanese government has been hit in the pocket with an unusual problem – its young people aren’t drinking enough. Since the start of the pandemic, bars and other premises selling alcohol have been hit hard by Covid-19 restrictions, causing sales – and alcohol tax revenues – to plummet in the world’s […]

When will you get your tax refund in Haw...

HONOLULU (KHON2) – The Hawaii State Department of Taxation has created a Law 115 refund page on its website for residents and said those who have filed taxes can expect see their $300 refund by September or October and it all depends on when they file their taxes. According to the department, Bill 115 is […]

Advice on the tax credit for clean vehic...

Treasury and IRS released initial tips Tuesday regarding a new requirement to qualify for the Sec. 30D clean vehicle tax credit, i.e. the car or truck must be assembled in North America. The Inflation Reduction Act, HR 5376, made sweeping changes to the clean vehicle tax credit, including extending it to 2032 and creating a […]

Navasota’s tax rate cut will still resul

August 17, 2022 by André Perrard We mentioned last week on our station the Navasota budget, and it lowers the tax rate for next year. Although it’s god on paper, you can still see an increase in costs. City Manager Jason Weeks stopped by our station on Tuesday to talk about the budget, which was […]

FACT SHEET: How the Cut Inflation Act is...

By signing the Cut Inflation Act, President Biden is delivering on his promise to address the climate crisis and build an economy that works for working families. The Cut Inflation Act makes historic investments in America’s future while lowering health care and energy costs. This is the most aggressive action we have taken to address […]

Apple to levy tax on streaming services ...

Last month, Apple settled a lawsuit against Chicago as the city imposed a new local tax on streaming services. At the time, the company feared the action would result in a ruling that such a tax is entirely legal, which could set precedents for other governments to do the same. The company will begin collecting […]

ESG: what is the next step and how to cr...

By Rich Daisley. Recently proposed disclosure requirements by the U.S. Securities and Exchange Commission (SEC) regarding greenhouse gas (GHG) emissions and related climate risk mitigation efforts highlight today’s reality. Today: No CPA can or should avoid being well-versed in matters related to these topics or broader environmental issues. , Social and Governance (ESG). This level […]

Does your state have a marriage penalty?

Today’s map focuses on states that have a “marriage penalty” in their personal income tax brackets. In a graduated rate income tax system, a taxpayer’s marginal income is subject to progressively higher tax rates. A marriage penalty or “marriage tax penalty” exists when a state’s income brackets for married taxpayers who file jointly are less […]

Critical Contrast: Republic Bancorp (NAS...

Republic Bancorp (NASDAQ:RBCAA – Get Rating) and Independent Bank (NASDAQ:INDB – Get Rating) are both finance companies, but which company is the best performer? We’ll compare the two companies based on valuation strength, institutional ownership, analyst recommendations, dividends, profitability, risk and earnings. Analyst Recommendations This is a summary of current recommendations for Republic Bancorp and […]

Trump executive Weisselberg expected to ...

Placeholder while loading article actions Allen Weisselberg, the longtime chief financial officer of former President Donald Trump’s company, is set to enter a plea deal in a criminal case against him, according to two people with knowledge of the matter. Weisselberg was indicted last year on felony charges, including tax evasion. The specific terms of […]

Companies facing new book tax and stock ...

The Cut Inflation Act that Congress passed on Friday includes a new minimum tax of 15% on book income for corporations that earn more than $1 billion in revenue, as well as a 1% tax on share buybacks, and these provisions may affect tax planning. used by larger companies and their accounting firms. The new […]

County Sales Tax Raise to Expand and Ren...

August 14 – ENID, Okla. – In less than two weeks, residents of Garfield County will consider a sales tax increase to expand and renovate the overcrowded county jail. Voters in the upcoming Aug. 23 primary election will see a proposal on their ballots to raise county sales tax by 0.30 percent, or 30 cents […]

The Unintended Consequences of Tax Regul...

By Charles Maniace. Taxes can be one of life’s safeguards, but that doesn’t necessarily mean they – or their purposes – are always understood. While sales tax is meant to be a way for states and local jurisdictions to pay for things like schools, roads, and utilities, these regulations can have unintended consequences. However, consumers […]

Stabilization, the rainy day fund reache...

The latest investment in the state’s Fiscal Stabilization Fund, commonly known as the Rainy Day Fund, saw its balance top $1 billion for the first time. Comptroller Susana Mendoza announced the $180 million payout on Thursday, bringing the balance to $1.036 billion — about enough funds to cover state operations for a week. The status […]

Explained: how China handles refined fue...

Workers are seen near pumping jacks at a China National Petroleum Corp (CNPC) oilfield in Bayingol, Xinjiang Uyghur Autonomous Region, China August 7, 2019. REUTERS/Stringer Join now for FREE unlimited access to Reuters.com Register SINGAPORE, Aug 15 (Reuters) – China’s refined fuel exports are set to fall in 2022 to a seven-year low as the […]

Publication of new tax transparency stan...

New tax transparency standards released for governments around the world New guidelines for tax transparency, for use by international governments, organizations and civil society, have been published by the General Assembly of the Global Initiative for Budget Transparency (GIFT) Supported by the International Monetary Fund, the World Bank and the Organization for Economic Co-operation and […]

Personal income tax leads to 40% increas...

The Union Government achieved more than a third of the direct tax collection target for this fiscal year during the April-July period, with personal income tax collection exceeding the catch-up of corporate tax under enhanced enforcement and compliance measures, according to official data. Total direct tax receipts, net of refunds, comprising corporation tax and personal […]

Conservation Society proposes historic s...

The Conservation Society of San Antonio announced plans Saturday to seek historic landmark status for the Institute of Texas Cultures. At an event at ITC, Society officials announced they had recruited Nesta Anderson, an archaeologist and historian, to write the proposal for submission to both the National Register of Historic Places and the Historical Commission. […]

CEO pay continues to skyrocket, defying ...

The cost of big salaries for corporate CEOs keeps rising, but so does those exorbitant salaries. A new study of CEO pay finds that changes to the federal tax code aimed at limiting executive compensation have done nothing to reduce what companies pay their executives. “Taxes just aren’t a big enough stick to change the […]

Finance Ministry plans to overhaul tax e...

PTI New Delhi, August 14 The Ministry of Finance proposes to review the new tax regime without exemption soon with a view to making it more attractive to taxpayers with individual incomes, sources said. Eventually, according to sources, the government aims to establish a system where there are no exemptions and where the […]

Haven’t received an income tax refund ye

Taxpayers often end up paying an excess amount to the income tax department for a variety of reasons. Even employers sometimes levy more income tax for salaried employees due to incorrect calculations or lack of proof of savings under various sections of the Income Tax Act. However, when filing your income tax return (ITR), you […]

Senator Kyrsten Sinema Took Money From W...

Senator Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longstanding goal of raising taxes on wealthy investors, received nearly $1 million during the year elapsed from private equity professionals, hedge fund managers, and venture capitalists whose taxes would have risen under the plan. For years, Democrats have promised to raise taxes on these […]

IRS Takes One Step Closer To Free Tax Fi...

Democrats push landmark climate and health care bill through Congress “Today is a day of celebration, a day we take another giant leap in our important agenda,” said House Speaker Nancy Pelosi, D-Calif., who minutes later announced the vote. final as she presided over the chamber. She said the measure “meets the moment, ensuring our […]

GOP under fire for IRS rhetoric

Republicans are being criticized for their rhetoric of more than $80 billion in funding for the IRS, including a massive climate, tax and health care bill Congressional Democrats are sending to the White House. The funding, over 10 years, is intended to help the IRS enforce various provisions of the Curbing Inflation Act, which would […]

ProNovos and Smith + Howard Announce Str...

Bruce Orr and Sean C. Taylor “Our customers are already high performers, but they’re always striving to do even better,” Taylor said. “The tools ProNovos has developed for construction contractors can help them raise their game. We are excited about this strategic relationship and believe our customers will be too. ATLANTA (PRWEB) August 13, […]

Tax refund: who is eligible for a direct...

Jhe Governor of Georgia, Brian Kempunveiled a number of tax refund schemes intended to help WE citizens face inflation. In its revised budget proposal for 2022 and 2023, Kemp said it would consider returning a total of $2 billion in property and income tax refunds. “As home prices soar across the country, local property tax […]

The Atal Pension Yojana account of taxpa...

The eligibility rules for opening an Atal Pension Yojana (APY) account will change from October 1, 2022. From October 1, 2022, a taxpayer will no longer be able to subscribe to the Atal Pension scheme. The central government has clarified that if a taxpayer opens an APY account under the APY scheme, their account will […]

The Origin Story of Deferred Interest Ta...

Digital image courtesy of Getty’s Open Content Program Digital image courtesy of Getty’s Open Content Program The carried interest tax loophole allows wealthy Americans, like those in private equity and hedge funds, to avoid billions in taxes each year. This is one of the most controversial features of the US tax system, but it has […]

In Orange County, Westminster City Counc...

The extension of a sales tax that has been credited with keeping Westminster financially afloat has moved forward after residents berated city officials for years of indecision. On Friday, four of five city council members agreed to place a measure on the November ballot asking voters to renew the 1% sales tax for the next […]

Cayman Islands: Benefiting from its flex...

The Cayman Islands is an attractive jurisdiction for registering and maintaining legal persons under a global corporate structure. To take advantage of this regime, existing companies domiciled in other jurisdictions will often migrate to the Cayman Islands to benefit from its inherent flexibility and tax neutrality. The Companies Act of the Cayman Islands allows a […]

Explainer: How might the new U.S. minimu...

Aug 12 (Reuters) – The main revenue stream of the new U.S. tax, climate and drug bill is a new minimum corporate tax of 15% aimed at preventing big, profitable companies from messing with the code of the Internal Revenue Service and reduce their tax bills to zero. The U.S. House of Representatives was due […]

Cut Inflation Act taxes stock buybacks, ...

Placeholder while loading article actions Democrats are set to pass the first new corporate taxes in a generation as part of President Biden’s sweeping climate, health care and tax bill, including a levy on a financial maneuver companies considered illegal market manipulation. In addition to a proposed 15% minimum tax on big business profits, lawmakers […]

$1 million in marijuana taxes earmarked ...

LAS VEGAS, Nev. (FOX5) – More than $1 million in marijuana tax revenue will be directed to free legal aid for those convicted of minor marijuana offenses, with the goal of helping thousands of people to seal their criminal record. The Southern Nevada Legal Aid Center and Nevada Legal Services will both receive $500,000 in […]

UK Tories fear scars of bitter leadershi...

Press play to listen to this article LONDON — It’s a long-standing maxim in British politics that divided parties don’t win elections. And so it was with some horror that politicians and supporters of Britain’s Conservative Party watched the contest to replace Boris Johnson fall into the most resentful Conservative leadership battle in decades. Already […]

Does the Inflation Reduction Act contain...

The Cut Inflation Act that Senate Democrats managed to pass on Sunday and which is heading for an expected vote in the House on Friday includes a package of tax credits intended to encourage renewable energy and the purchase of electric vehicles as part of a larger package of climate change control measures. But lesser-known […]

Lessons for federal lawmakers as Califor...

By Raza Lawrence (August 11, 2022, 2:58 p.m. EDT) – In New State Ice Co. v. Liebmann, United States Supreme Court Justice Louis Brandeis in 1932 called the 50 states laboratories of democracy, writing: It is one of the happy incidents of the federal system that a single courageous state can, if its citizens so […]

Gopuff jumps on instant driver payments

Gopuff has started Instant Payments for its US delivery drivers as part of a major update to the proximity delivery platform. Similar to Grubhub’s recent announcement that it had expanded instant pick-up options for its delivery drivers, Gopuff has teamed up with Stripe to offer its US delivery partners a similar option. To qualify for […]

Here’s how to check it online

The deadline for taxpayers whose ITRs need to be verified is October 31, 2022. Taxpayers can claim any overpayment of tax by submitting an Income Tax Return (ITR) to the Income Tax Service (IT). Those who submitted income tax returns (ITRs) for the 2021-2022 fiscal year have now received or are awaiting their ITR refunds […]

The accountant’s “misguided” loyalty to

A senior tax accountant’s misguided loyalty to her client and manager led her to lie to the Australian tax office and ruin her highly successful career, a judge has found. Jennifer Lee Nairne, 64, pleaded guilty to charges of dishonestly influencing a Commonwealth official and using false documents to do so between February 17, 2009 […]

Nigeria faces an existential threat, war...

In light of Nigeria’s declining revenue, the government’s continued payment of trillions of naira in fuel subsidies and the resulting economic challenges, the World Bank on Wednesday sounded the alarm that the country could face an existential threat. The international financial institution has warned that if the country fails to optimize its tax system and […]

Making Taxes Less Taxing: A Summary of t...

Earlier this year, the Court of Appeal ruled on two cases dealing with the issue of deemed employment status for the purposes of IR35. The cases involved similar facts and involved broadcasters who provided their services through personal service companies. The Court of Appeal judgments provide guidance on the approach to take when determining employment […]

Rackspace technology enables Konesh Miss...

SAN ANTONIO, Aug. 10, 2022 (GLOBE NEWSWIRE) — Rackspace Technology® (NASDAQ: RXT), the leader in end-to-end multicloud solutions, today announced that Konesh®, a company that provides managed services for accounting and tax procedures, chose Rackspace Technology to develop its cloud services infrastructure. Founded in 2009, Konesh, tax and accounting advisory firm, is the third-largest advisory […]

African economies are struggling after t...

Comment this story Comment With a Tweeter in May, Ghana’s President Nana Akufo-Addo excitedly announced the launch of an online government levy – a 1.5% charge on mobile money transactions over 100 Ghanaian cedis ($12) . Certain merchant, bank and personal transfers are now subject to the new tax. Ghana’s parliament passed the measure in […]

Santa Cruz hotel tax hike heads for Nove...

The Hyatt Place hotel at 407 Broadway in Santa Cruz has 106 rooms. (Stephen Baxter — Santa Cruz local file) SANTA CRUZ >> A measure that would increase taxes on hotels and short-term rentals in the city of Santa Cruz will appear on the November ballot, the Santa Cruz City Council decided Tuesday night. The […]

Summit County Council will hold a proper...

The Assessor, Auditor and County Treasurer will join the meeting to discuss their roles and how properties are calculated and taxed. Acting Summit County Executive Janna Young said a public hearing after the briefing will give residents time to air their concerns. “So a great opportunity for everyone to get their questions answered,” Young said. […]

ABA opposes opening law firms to new com...

The American Bar Association is pouring cold water on efforts to loosen restrictions on who can own law firms, including measures that could open up firms to new corporate competition. The group’s House of Delegates on Tuesday passed a nonbinding resolution discouraging changes to state rules prohibiting the sharing of legal fees with nonlawyers. But […]

Green Party calls on government to sabot...

The left-leaning Australian Greens are considering a possible showdown with the Labor government after its leader Adam Bandt signaled the party would try to thwart a planned third round of tax cuts for families. In an address to the National Press Club on August 3, Bandt claimed that another round of tax cuts would hurt […]

What to expect from Masters in Accountin...

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Accounting is a complex field that requires extensive training. A master’s degree in accounting prepares you for management positions and provides opportunities to pursue specialties in the field. Accounting professionals also enjoy […]

Child tax credit in 2022: See if you’ll

Millions of families across the United States are waiting to see if another child tax credit bill will pass. As the wait for federal legislation continues, some states are taking matters into their own hands by planning to send more money to parents in an effort to mitigate the impact of inflation and one possible […]

Larry Pack will join the Justice Governm...

CHARLESTON, West Virginia – Governor Jim Justice today announced that Larry Pack will join his administration as a senior adviser. “Larry is a dear friend and trusted advisor to me on a range of issues,” Governor Justice said. “He will bring a wealth of wisdom to my administration through his decades of experience […]

Business news, strategy, finance and com...

On the GST front, collections rose by 44% to ₹1,40,885 crore in June from ₹97,821 crore in the same month last year. One of the reasons is the high inflation, but the electronic invoice records also indicate an increase in volumes and, therefore, higher consumption. E-way bills stood at 73.62 million in May 2022, the […]