News / General Business

'Class Warfare' in Action: Amazon Dodged $5.2 Billion in Taxes in 2021

Source: commondreams.org - Feb 9, 2022

An analysis released Monday shows that Amazon utilized several perfectly legal mechanisms to avoid paying $5.2 billion in federal corporate income taxes in 2021, a year in which the online retail... Read more >

Category: General Business

Taxes on stock trades may surprise new investors

Source: cnbc.com - Feb 9, 2022

This year’s tax filing season begins on January 24. Some new, younger investors may be in for a surprise. Last year’s trading frenzy over “meme stocks,” such as AMC Entertainment and... Read more >

Category: General Business

Monthly child tax credit payments have stopped. But families who file their tax returns can still get the rest of the credit, officials say.

Source: cbsnews.com - Feb 9, 2022

Katrena Ross started receiving $300 a month last July as part of the expanded monthly child tax credit payments. The Michigan mother of three, including a son with autism, used the money to pay for... Read more >

Category: General Business

Louisiana retains title for highest combined state and local sales taxes

Source: businessreport.com - Feb 4, 2022

Louisiana consumers pay the highest average combined state and local sales taxes in the nation, according to the latest report by Washington, D.C.-based Tax Foundation. High sales taxes can... Read more >

Category: General Business

Here's how long it will take to get your tax refund in 2022

Source: cbsnews.com - Feb 4, 2022

Three-quarters of all Americans get an annual tax refund from the IRS, which often is a family's biggest check of the year. But with this tax season now open, taxpayers could see a repeat of last... Read more >

Category: General Business

Do Social Security and Medicare Taxes Apply To Household Employees?

Source: finance.yahoo.com - Feb 4, 2022

Georgina Tzanetos Fri, February 4, 2022, 8:30 AM·2 min read Social Security and Medicare taxes together are commonly referred to as the “FICA” tax. This is a 7.65% tax both employees and... Read more >

Category: General Business

PayPal taxes 2022: How big are the transactions this app and Venmo report to the IRS?

Source: marca.com - Feb 3, 2022

Are you self-employed or get paid by apps like PayPal? Then, you must know the new changes the IRS is making. The American Rescue Plan, signed into law last year made specific evolutions for cash... Read more >

Category: General Business

IRS Offers Tezos Staker Refund on Rewards Tax in Break From Current Policy

Source: coindesk.com - Feb 3, 2022

The U.S. Internal Revenue Service (IRS) offered a Tennessee couple a refund on income taxes paid for unsold staking rewards as part of what appears to be a settlement in an ongoing legal fight –... Read more >

Category: General Business

2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions

Source: irs.gov - Feb 2, 2022

These updated FAQs were released to the public in Fact Sheet 2022-07 PDF, February 1, 2022. There have been important changes to the Child Tax Credit that will help many families receive advance... Read more >

Category: General Business

Many lower- and middle-earning households may pay nothing in income taxes this year

Source: cnbc.com - Apr 28, 2021

A large swath of American households may pay nothing in income taxes for 2021, a new congressional report suggests. Taxpayers with income of less than $75,000 are projected to have, on average, no... Read more >

Category: General Business

53 tax deductions & tax credits you can take in 2021

Source: policygenius.com - Apr 28, 2021

Updated Feb. 5, 2021: It’s tax season! While few people want to pay anything at all, there are ways to pay less. Tax deductions and tax credits can help you save money in tax season 2020.... Read more >

Category: General Business

IRS pushed to crack down on P2P payment apps

Source: accountingtoday.com - Apr 28, 2021

The Internal Revenue Service could be doing more to track unreported income flowing through increasingly popular peer-to-peer payment apps like Venmo and Zelle, according to a new report. The... Read more >

Category: General Business

When will you get the Child Tax Credit for $3,600? When payments could arrive and how often

Source: cnet.com - Mar 26, 2021

Around 37 million stimulus checks are going out this week (track your payment here). And while the third payments for up to $1,400 per eligible person are the most immediate way the government is... Read more >

Category: General Business

Wealth tax, estate tax, capital gains: Here’s how Democrats want to tax the super rich

Source: cnbc.com - Mar 26, 2021

Democrats may soon be raising taxes on the rich, as lawmakers pivot to priorities beyond Covid pandemic relief. A change in the way Uncle Sam taxes the wealth, capital gains and estates of the... Read more >

Category: General Business

Preparing for High Winds: How to Protect a Home from Damage

Source: newjerseyrealestatenetwork.com - Mar 25, 2021

Wind can come in the form of hurricanes, tornadoes, cyclones, microbursts or downdrafts. There are high winds and gusts in some instances that last just a few minutes, and there are sustaining... Read more >

Category: General Business