Anchiy | E+ | Getty Images And this year, at least a dozen states have made cuts or are eyeing reductions, including both temporary and permanent measures, according to the Tax Foundation. While the...
Tag: Government taxation and revenue
The IRS has sent nearly 30 million refunds. Here’s the average payment
Cabania | iStock | Getty Images Plus Despite ongoing challenges, the IRS has sent nearly 30 million tax refunds, worth about $103.2 billion, the agency reported Friday. While 29% of Americans worry ab...
New Jersey governor floats property tax relief for homeowners, renters
New Jersey Gov. Phil Murphy delivers a victory speech on Nov. 3, 2021, in Asbury Park, New Jersey. Eduardo Munoz Alvarez | Getty Images Property tax relief may soon be coming to New Jersey. Gov. Phil ...
how it affects your tax return
Your filing status is the backbone of your tax return, and checking the wrong box can be costly. Yet many filers still confuse single and head of household, financial experts say. “Most people a...
What to know before filing business taxes for the first time
In 2021, amid the ongoing pandemic and “Great Resignation,” Americans filed a record 5.4 million applications for new businesses, according to data from the U.S. Census Bureau. That means ...
Should you consider a Roth IRA conversion when the market drops?
If you’re considering a Roth conversion, stock market drops may make the strategy more appealing, according to financial experts. While the popular move, allowing higher earners to bypass inco...
Here’s what the end of Covid tax breaks means for business owners
Samuel Corum/Bloomberg via Getty Images Rules around small business taxes have changed significantly in the last two years. This year is no exception as many of the various pandemic-era deductions and...
Education Department won’t seize tax refunds for overdue student loans
Miguel Cardona, U.S. Education Secretary, at the Queen Theatre on Dec. 23, 2020 in Wilmington, Delaware. Joshua Roberts | Getty Images News | Getty Images The U.S. Department of Education has suspende...
Super Bowl betting to top $7.6 billion. Don’t forget taxman if you win
Algerina Perna | Baltimore Sun | MCT | Getty Images If you plan to drop money on a Super Bowl bet this weekend, remember the IRS will be looking for its cut of your winnings. Americans are expected to...
Here’s why new parents may qualify for another $1,400 stimulus check
Marko Geber | DigitalVision | Getty Images The IRS has issued all third-round stimulus payments to eligible Americans, the agency said Wednesday. However, new parents and other recipients who added de...
Oxfam on Covid inequality, tax rich to pay for vaccines, protect climate
A pedestrian wearing a face mask delivers food to a homeless person sleeping in the entrance of a shop, closed due to coronavirus restrictions, in central London on December 23, 2020. Tolga Akmen | AF...