Center for Public Integrity的动态

A smaller #taxbase, everything else equal, means less tax revenues for safety, #education, road repair and every other core #government service – or, as is typically the case in #Illinois, more debts and more tax hikes.

I spoke with Heidi Sommer about what is at stake for tax policy in the November elections at POLITICO’s “Election 2024: The Future of Taxation” event. With parts of the 2017 Trump tax law expiring in 2025, we have an opportunity to reform the tax code and build an economy that fosters truly inclusive economic growth. The Trump tax law gave huge tax breaks for the wealthy and corporations while average Americans waited for a trickle-down that never came. It’s time for the wealthy and corporations to pay their fair share and to end the profiteering and price gouging. Americans have the economy on their mind ahead of the November election. With a fairer tax code that brings in substantial revenue, we can address the issues that Americans care about the most, like affordable child care or student loans. In 2025, Congress and the White House will have the opportunity to change who benefits from our economy. At Groundwork, we believe it should work for the people who power it. Watch here: https://lnkd.in/espS4gak

Check out my newest Op-Ed for California Globe regarding LA's devastating Measure ULA and other burdensome tax policies harming LA County and California. https://lnkd.in/gP7PbbE2

Only 45% of those eligible for the Working Families Tax Credit applied to receive the credit in 2023, according to the Washington State Department of Revenue. While there are some differences, if you qualify for the federal Earned Income Tax Credit (EITC), you likely also qualify for a state refund up to $1,225.

If you are thinking about buying a 2nd home or where to retire, an important consideration is #taxes. This is an interesting article which details the tax burden in each state. Worth noting is that Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming don't charge income taxes. Can you guess which which state has the highest and lowest tax burden?

Not surprised to see this stalling continue and honestly was shocked they were trying to use ending the #erc as a funding mechanism since: 1- Paying out fraudulent claims is something the government shouldn’t be doing in the first place, do we really need additional legislation to accomplish that? With many of the pop-up-shops already out of operation, is this a real continued concern with a modicum of more oversight on payouts? 2- Punishes taxpayers who legitimately qualify for being cautious and waiting to file 3- Is likely an overstated benefit as most large well administratively coordinated employers filed earlier on and it’s smaller organizations who have less support who are still in the process of completing their filings Bonus- Is it really “paying” for something to use money you don’t have (since the program is already over budget) to buy something else? That’s like saying, well instead of going into credit card debt on buying this new car, I guess I’ve “saved it” and can now go on a vacation instead. ?? (If it’s going to be a wait until next year, we’re basically done on the statute of limitations anyway?)

Terrific opinion by the WSJ: ?? **Continued Tax Reductions in North Carolina: A Path to Economic Prosperity** ?? 1. **Enhanced Economic Growth** ?? ??- North Carolina's commitment to lowering income taxes has significantly boosted the state's economy, led by the General Assembly. ??- The tax reduction from 7.75% in 2013 to a planned 3.99% by 2026 has made NC a regional leader, attracting businesses and increasing employment. 2. **Against EITC Reintroduction** ? ??- The Democrat proposal to reintroduce the Earned Income Tax Credit (EITC) is seen as a narrow, populist measure that benefits a small segment of taxpayers. ??- It diverts funds from broader tax reductions that could benefit a wider economic spectrum. 3. **Evidence Supports Tax Cuts** ?? ??- Research shows that lower taxes enhance job creation and innovation, leading to a more dynamic state economy. ??- Other states with high taxes, like New York and New Jersey, have experienced slower growth, suggesting that lower taxes may foster better economic conditions. This strategic approach reflects a clear preference for broad-based tax reductions over targeted tax credits, promoting widespread economic benefits rather than limited subsidies. #economicdevelopment #tax #incometax https://lnkd.in/etGZGqsr

1. $2 Million is ALOT of money to be giving to the IRS and I wouldn’t wish this one my worst enemy lol 2. A lot of money is also relative. If he made $10,000,000 and paid $1.6M in federal taxes, that’s a 16% tax rate which is ALOT better than the 37% he should’ve paid (keep in mind I have no idea how money much he earned). 3. This is why tax planning is so important, if you don’t plan throughout the year you could be stuck with a large tax bill such as this one 4. Now with that said… once you get into the high 7-8 figures there are only so many strategies that you can implement AND not all strategies are worth implementing. Don’t let instagram fool you ????♂? 5. For example, yes if he moved to Puerto Rico he could save hundreds of thousands in taxes, but it that worth being away from his family for 180 days per year ????♂? idk 6. Another example, yes if he started investing in real estate he would pay a lot less in taxes, but my brother is a stock investor.. so is saving on taxes worth getting him out of his zone of genius ????♂? idk 7. Lastly, let’s not overlook the fact that HE HAD THE MONEY TO PAY THE BILL! This is why is so important to set aside you money for taxes throughout the year so when the bill does come…you can pay it So these are my thoughts…but I would love to hear yours below ???????? #taxes

The IRS is stepping up efforts to collect unpaid taxes from high-wealth earners while rolling out cutting-edge digital tools to make tax season smoother for all. With over $1.1 billion collected already, this initiative shows how serious the IRS is about streamlining processes and modernizing taxpayer experience. #TaxUpdate #TaxLawyer #IRS https://hubs.ly/Q02VjT3d0

The IRS is stepping up efforts to collect unpaid taxes from high-wealth earners while rolling out cutting-edge digital tools to make tax season smoother for all. With over $1.1 billion collected already, this initiative shows how serious the IRS is about streamlining processes and modernizing taxpayer experience. #TaxUpdate #TaxLawyer #IRS https://hubs.ly/Q02Vk2yD0