Kentucky Chamber of Commerce的动态

The 16th Amendment, upon which the federal income tax is based, was proposed in1910 at the same the Fed Act was secretly planned to pragmatically expand the power and size of the federal government. The truth about the end result of the amendment, a non-apportioned income tax, was realized by several of the States, such as Kentucky, which refused to ratify the 16th Amendment before 1913. The Kentucky Senate never ratified the amendment, so Kentucky never ratified the amendment. The other States were deceived into ratifying, not realizing the planned income tax, yet the amendment was illicitly declared ratified in 1913 by the Wilson administration without the required number of ratifying States, 34. Woodrow Wilson was not concerned with the constitutionality of the 16th Amendment, but only with the revenue that its non-apportioned federal income tax would produce, which would finance his entry into the First World War and the further expansion of the federal government. If EVERY State in1913 opposed an individual federal income tax, why would those State legislatures ratify an amendment that would incur a non-apportioned federal income tax? That is a question that the SCOTUS over the decades has conspiratorially refused to address.

TAX RICH AMERICANS https://lnkd.in/emrxtG7K Vote for VP #Harris to End Trump’s 2017 Law’s Windfalls for the Wealthy. As the 2017 law’s individual income and estate tax cuts approach expiration, policymakers and the public should keep two important dynamics in mind. First, in addition to the top 1 percent receiving large tax cuts, the 2017 law delivered the largest average tax cut — measured as a percentage of pre-tax income — to households in the 95-99th?percentile. Their tax cut from the 2017 law amounts to 3.2 percent of their pre-tax income, on average (or nearly $13,000, on average). This is more than?triple?the roughly 1 percent average percentage income gain of the bottom 60 percent.

The federal Tax Cuts and Jobs Act, enacted in 2017, made changes to the personal income tax code that expire after 2025. U.S. Congress will likely consider whether to alter or extend these provisions next year. A key analysis suggests that the highest income taxpayers would disproportionately benefit extending these provisions, particularly the Estate Tax and the deduction for qualifying pass-through business income. While NH residents in the lowest 20 percent of the income scale would receive an average reduction of $210 in taxes paid by extending the Tax Cut and Jobs Act, taxpayers with incomes of $871,400 and higher, projected to be in the top one percent of New Hampshire residents by income in 2026, would have an average tax reduction of $57,470. Learn more in our new Data Byte: https://lnkd.in/eyhAyn29

The Federation Council Approved the Bill on Improving the Tax System 10.07.2024 The Federation Council has approved a draft law on improving the tax system. The law will enter into force on January 1, 2025. Major changes in terms of personal income tax. The personal income tax rate for income up to 2.4 million rubles per year remains at 13%, for income from 2.4 million to 5 million rubles. – 312 thousand rubles (personal income tax is paid at the rate of 13% on the amount of 2.4 million rubles) and 15% on the excess of 2.4 million rubles; for income from 5 million to 20 million rubles. – 702 thousand rubles and 18% of the excess of 5 million rubles; for income from 20 million to 50 million rubles. – 3,402 million rubles and 20% of the excess of 20 million rubles; over 50 million rubles. – RUB 9,402 million and 22% of the excess of the income threshold. Continue reading: https://lnkd.in/gjnXuTrx

Did you know that for tax purposes, your normal year of income usually spans 12 months ending on June 30th? However, individuals can apply for a substituted year of income by notifying the tax commissioner in writing under section 39(1) of the Income Tax Act, the commissioner may approve this request under subsection 3. Taxpayers who have been granted permission to use a substituted year can now apply to switch back to a normal year or select another substituted year, subject to approval by the commissioner under Section 39(3) of the Income Tax Act. It's important to note that the commissioner has the authority to revoke this permission at any time. Transitional year: Any changes as a result of changes in any of the above between the last full year of income to the date of change will be treated as a separate year of income to be known as the transitional year of income. Understanding your income tax period is key to managing your finances efficiently and avoiding unnecessary penalties. ?? #IncomeTax #FinancialPlanning"

Advance Income Tax is the tax paid by a?taxpayer?in advance. This means, instead of paying all the tax at the end of the financial year, advance income tax is paid by eligible taxpayers as they earn. In every financial year, taxpayers can pay advance tax in four installments in the months of June, September, March, and December. All the advance taxpayers who have already paid the three installments of tax for the current?financial year, and are left with only the fourth instalment, must pay it as soon as possible. The last date to pay the fourth and last installment of advance tax for the ongoing financial year is 15 March 2024. Failing to pay the advance tax for March 2024, may cost a penal interest to the taxpayers. We need to keep demanding transparency and accountability from?all?of our elected officials. Americans and Indians need to know that their representatives in government are working for them, and not influenced by conflicts of interest. To those who have been speaking out: Please keep raising your voices on this issue. It matters, and it makes a difference. #sirabhinavjain #storysellercomics #tax #advancetax2024 #caexperts

ITR filing: How can taxpayers check their income tax refund status online? A step-by-step guide Normally, the income tax department takes four to five weeks to issue a refund. But when you do not receive the refund on time, it is imperative to check the intimation received from the income tax department. https://lnkd.in/gESChBF4

The AMT was created to make sure taxpayers in higher tax brackets pay their fair share of taxes. Make sure you're aware of three potential scenarios that could trigger it.

The AMT was created to make sure taxpayers in higher tax brackets pay their fair share of taxes. Make sure you're aware of three potential scenarios that could trigger it.

The 2025 Federal Income Tax Brackets are here....