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News Articles: tax

Supreme Court of Georgia bench. (Supreme Court of Georgia/X)

Tagged as: 

  • Law

Georgia Supreme Court upholds state Capitol arrests, tax on strip clubs

The Georgia Supreme Court issued two rulings Thursday that upheld the arrests of two Democratic state lawmakers for protesting inside the state Capitol and declared constitutional a state tax levied on adult entertainment establishments.

November 01, 2024
|
By:
  • Dave Williams
Economists say creating a 2% tax minimum for the extremely wealthy would unlock an extra $250 billion per year.

Tagged as: 

  • Business

A proposal to tax the uber-rich is gaining traction. But there are skeptics

The Brazilian government has proposed a 2% global wealth tax on the uber-rich. It would impact the 3,000 wealthiest people in the world.

August 06, 2024
|
By:
  • Patrick Wood,
  • Kathryn Fink,
  • and 1 more
COVINGTON, KY - APRIL 8: Kathleen Malone works on tax returns at the Cincinnati Internal Revenue Service Center April 8, 2005 in Covington, Kentucky. The tax filing deadline is a week away.

Tagged as: 

  • Your Money

TikTok is filled with tax advice. Is any of it worth listening to?

TikTok, and other apps like it, are filled with financial advice. Some of it is reliable, some... less so.

There are videos about running a business, having a side hustle, generating passive income. And also, there are a lot of tips and tricks, many of them questionable, about saving on your taxes.

On this show, we run some of the greatest hits of TikTok tax advice by some bonafide tax experts. We'll talk about whether you can use gambling losses to reduce your tax bill, whether your pets qualify you for tax deductions – and we'll fact check the claim that all rich people own expensive Mercedes G-Wagons... for tax purposes.

Along the way, we'll drill down on the concepts like taxable income and the standard deduction. And we'll ask why so many videos on TikTok suggest that you (fraudulently) categorize personal expenses as business expenses. Sometimes with a literal wink and a nod.

This episode was hosted by Nick Fountain. It was produced by Emma Peaslee with help from Willa Rubin, who also fact-checked this episode. It was edited by Molly Messick and engineered by Cena Loffredo. Alex Goldmark is Planet Money's Executive Producer.

Help support Planet Money and get bonus episodes by subscribing to Planet Money+
in Apple Podcasts or at plus.npr.org/planetmoney.

April 12, 2024
|
By:
  • Nick Fountain,
  • Molly Messick,
  • and 1 more
The IRS is warning taxpayers that they may be leaving more than $1 billion on the table. The federal tax collector said Monday, March 25, 2024, that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020.

Tagged as: 

  • Your Money

The IRS has 940,000 unclaimed tax refunds from 2020 that are about to expire

The average median refund is $932 for 2020. Texas (93,400), California (88,200), Florida (53,200) and New York (51,400) have the largest amount of people potentially eligible for these refunds.

March 26, 2024
|
By:
  • GPB Newsroom
Werfel says he wants to build a "menu of options" for how people can file their tax returns.

Tagged as: 

  • National

The IRS got $80B to help people and chase rich tax avoiders. Here's how it's going

Commissioner Danny Werfel says the IRS is seeing "very powerful early results" in its efforts to improve enforcement on high wealth is paying off.

January 30, 2024
|
By:
  • Ari Shapiro,
  • Megan Lim,
  • and 1 more
gas station

Tagged as: 

  • News

With or without gasoline revenue, Georgia tax collections in the red

Georgia tax collections fell an adjusted 5.7% last month compared to October of last year, the state Department of Revenue reported Tuesday.

November 08, 2023
|
By:
  • Dave Williams
California Gov. Gavin Newsom shakes hands with Assemblymember Jesse Gabriel, D-Los Angeles County, after signing Gabriel's bill that raises taxes on guns and ammunition in Sacramento on Tuesday, Sept. 26, 2023.

Tagged as: 

  • Law

California is first state to levy a tax on guns and ammo to fund safety programs

New law will impose an additional 11% in addition to federal tax. It's one of nearly two dozen gun laws signed into law on Tuesday. but Newsom acknowledges some might not survive legal challenges.

September 26, 2023
|
By:
  • The Associated Press

Tagged as: 

  • News

Georgians starting to get tax refund checks

Georgia taxpayers have begun receiving refunds for the second year in a row, Gov. Brian Kemp announced Monday.

May 02, 2023
|
By:
  • Dave Williams
Rep. Marjorie Taylor Greene, R-Ga., talks as President Joe Biden delivers his first State of the Union address to a joint session of Congress, at the Capitol in Washington on March 1, 2022.

Tagged as: 

  • Politics

Political Rewind: MTG gets top committee assignments; Kemp in Davos; Lawmakers want a flat tax

Wednesday on Political Rewind: Rep. Marjorie Taylor Greene secured seats on two high-profile House committees. Will she bring her extreme views with her? Gov. Brian Kemp told the World Economic Forum that Georgia will be a pro-business powerhouse. Meanwhile, Republicans in both D.C. and Georgia aim to reshape tax policy.

January 18, 2023
|
By:
  • Bill Nigut ,
  • Natalie Mendenhall ,
  • and 1 more
A sign outside the Internal Revenue Service building in Washington, on May 4, 2021.

Tagged as: 

  • Economy

The IRS is increasing the standard deductions for 2023 as inflation intensifies

The IRS is increasing energy-related tax breaks, as well as standard deductions for single and married people and heads of households.

October 19, 2022
|
By:
  • Ayana Archie
An operating room technician performs an ultrasound on a patient in Shreveport, La., on July 6, 2022.

Tagged as: 

  • Law

Pregnant? Georgia says that fetus counts as a dependent on your taxes

A person at least six weeks pregnant on or after July 20 through Dec. 31, 2022, can submit the fetus as a dependent on their state tax returns starting next year.

August 02, 2022
|
By:
  • Jaclyn Diaz
More than 130 countries on Friday agreed to set a global minimum corporate tax rate, a proposal spearheaded by U.S. Treasury Secretary Janet Yellen, seen here at a House Oversight Committee hearing on Sept. 30.

Tagged as: 

  • Business

Over 130 countries clinch a deal that could radically reshape how companies are taxed

The agreement would set a 15% minimum tax rate for companies around the world, but it would need to be passed by a closely divided Congress.

October 08, 2021
|
By:
  • David Gura
President Ronald Reagan shows his boot following the signing of his tax bill in August 1981 at his vacation home near Santa Barbara, Calif.

Tagged as: 

  • Politics

The Democratic Push To Tax The Rich More Is 40 Years In The Making

Democrats will try the same budgetary process from four decades ago when first-year President Ronald Reagan used reconciliation to achieve his "revolution" in federal fiscal policy.

September 16, 2021
|
By:
  • Ron Elving
Shalanda Young, acting director of the Office of Management and Budget, says low interest rates mean the timing is right for government investment in social programs.

Tagged as: 

  • Politics

Biden Proposes A Huge Hike In Government Spending In A $6 Trillion Budget

The president's budget details his ambitious (and costly) plans to invest in infrastructure and the social safety net — the likes of which the country hasn't seen in decades.

May 29, 2021
|
By:
  • Asma Khalid
Brian Deese, director of the White House National Economic Council, speaks to reporters at the White House Monday about the American Families Plan.

Tagged as: 

  • Politics

Biden Wants Millionaires To Foot The Bill For Big New Social Programs

President Biden will ask Congress to increase taxes on capital gains for tax filers who make more than $1 million a year — a move the White House says will affect only about 500,000 households.

April 26, 2021
|
By:
  • Ayesha Rascoe
  • Load More

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