federal taxes

18 Stories

It's Tax Day, and Nearly 40% of Us Haven't Filed Yet
It's Tax Day—in
All but 2 States
Apr 18, 2022 6:43 AM CDT

It's Tax Day—in All but 2 States

Maine and Massachusetts residents get one more day

(Newser) - Monday is Tax Day—the federal deadline for individual tax filing and payments—and the IRS expects to receive tens of millions of last-minute filings electronically and through paper forms. As of April 8, the IRS had received more than 103 million returns for this tax season, and it had...

This Year's Tax-Payment Deadline Isn't April 15

Most Americans get 90-day extension

(Newser) - If you owe Uncle Sam less than $1 million, April 15 is no longer your tax-payment deadline this year. Treasury Secretary Steven Mnuchin on Tuesday announced a COVID-19 delay that the Wall Street Journal calls "unprecedented." Those individuals, as well as businesses that owe no more than $10...

Guess What Amazon Paid in Taxes Last Year

If you guessed $0, you're close. It's less than $0.

(Newser) - Amazon, pay federal taxes? Hope Uncle Sam isn't holding his breath. The retailing giant paid zero dollars to the feds in 2017 and 2018 despite profits totaling nearly $17 billion, the Guardian reports. Seems Amazon relied on tax credits and tax breaks for executive stock options to turn its...

New Bipartisan Cause: Cheaper Booze



 New Bipartisan Cause: 
 Cheaper Tequila 
IN CASE YOU MISSED IT
May 31, 2015 7:08 AM CDT

New Bipartisan Cause: Cheaper Tequila

House bill slashes federal tax on whiskey, rum, too

(Newser) - Raising a glass of whiskey, rum, or tequila to the spirit of bipartisan cooperation could become cheaper under a bill introduced to the House Tuesday. The Distillery Innovation and Excise Tax Reform Act, co-sponsored by Indiana Republican Todd Young and Kentucky Democrat John Yarmuth, would dramatically cut federal taxes on...

TurboTax Maker Fights to Keep It Harder to Do Taxes

Intuit has been lobbying against 'return-free filing': ProPublica

(Newser) - If only it were quicker, easier, and cheaper to prepare and file your taxes. Oh, wait—it could be. Denmark, Sweden, and Spain use a system in which the government pre-fills your tax returns using info from your employer and bank. You tweak whatever is incorrect and you're done,...

If It Was 1980, You'd Be Paying More in Taxes

 If It Was 1980, 
 You'd Be Paying 
 More in Taxes 
'nyt' analysis
Nov 30, 2012 7:06 AM CST

If It Was 1980, You'd Be Paying More in Taxes

Federal taxes down, but state, local taxes up

(Newser) - Although many Americans express anger at the seemingly ever-increasing amount they have to fork over to Uncle Sam, most actually paid a lesser amount in 2010 than they would have in 1980, according to an analysis by the New York Times that took into account federal, state, and local taxes....

Obama Playing Hardball on Taxes

He plans to seek $1.6TR extra from wealthy, corporations

(Newser) - President Obama is telling GOP leaders to read his lips: Some new taxes. The president plans to play hardball in budget negotiations with an opening figure of $1.6 trillion in tax hikes for corporations and the wealthy, the Wall Street Journal reports. The figure is far more than Republicans...

The Tax Rate You Paid in 2009 Was Lowest in 30 Years

Tax cuts plus falling incomes behind drop, CBO says

(Newser) - Anti-tax protesters were a major political force in 2009—which also happens to be the year Americans paid the lowest share of their income to the federal government in at least 30 years, according to the nonpartisan Congressional Budget Office. A CBO analysis released yesterday found that the average tax...

7 Tax Breaks You Probably Don't Know About

You may be able to deduct college courses, disaster losses

(Newser) - If you've put off your taxes until the last minute, here's a little reward for your procrastination: Time offers seven tax breaks that could save you money—now that you actually know about them:
  • Higher education: There are certain credits available for qualified tuition, and you may not
...

Obama Plan Preview: $3T Savings, $1.5T Tax Boost

'Washington Post' bares early details of president's plan

(Newser) - Details of President Obama's new debt-reduction plan to be unveiled this morning are emerging—and it's not a pretty sight for the rich. The president will likely outline a plan to cut the federal debt by $3 trillion over the next decade, with half of that coming from...

Dems, GOP Back Push to Cut Corporate Tax Rate

Bipartisan support builds behind effort to close loopholes

(Newser) - With deficit reduction on the agenda and America's corporations sitting on a record amount of cash, Democrats and Republicans have found something they agree on: It's time to slash the corporate tax rate. Bipartisan support is building for plans to eliminate many loopholes and tax breaks and use...

New GOP Budget Would Cut $4T

Plan would drastically slash Medicare

(Newser) - In an attempt to reframe the budget debate, Republicans are proposing a 2012 budget that features $4 trillion in spending cuts over the next decade—and would end Medicare as we know it, reports the Wall Street Journal . Democrats won’t likely support the 2012 plan, helmed by House Budget...

Federal Taxes at Lowest Level Since 1950

But rates will increase in the coming years

(Newser) - Griping about high taxes? Not so fast: Federal tax bills are at historic lows this year, and for the third consecutive year, families and businesses will pay less than they did under George W Bush. The government’s take—as a share of the national economy—is its lowest since...

America Stuck With a Temporary Tax Code
America Stuck With a
Temporary Tax Code
Analysis
Dec 14, 2010 8:21 AM CST

America Stuck With a Temporary Tax Code

Businesses complain of uncertainty

(Newser) - Once upon a time—in the late 1990s—there were only a few dozen temporary tax provisions requiring regular renewal. Now there are 141, and if Congress does indeed pass the proposed two-year extension of the Bush tax cuts, the whole income tax system will essentially be a temporary provision,...

US Tax Burden Lowest Since 1950

Recession, stimulus shrink tax rate to 60-year-low

(Newser) - You wouldn't know it from the clamor of anti-tax protests, but Americans turned over a lower share of their income to the taxman last year than at any time since the Truman administration, according to a USA Today analysis. State, local, and federal taxes took up 9.2% of income...

Um, Guys, Taxes Are Lower This Year

That could change in the future, however

(Newser) - Believe it or not, tea partiers, your taxes probably went down this year. Soon after Barack Obama took office, those tax-and-spend Democrats cut individuals’ federal taxes by roughly $173 billion, the AP reports, which should more than make up for any tax increases states were forced to push through to...

47% of Americans Pay No Federal Income Tax

Tax day is just Christmas for many

(Newser) - Tax Day is a dreaded deadline for millions, but for nearly half of US households it's simply somebody else's problem. About 47% will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions, and exemptions to eliminate their...

Tea Partiers Just Plain Ignorant
 Tea Partiers Just Plain Ignorant 
OPINION
Mar 19, 2010 1:43 PM CDT

Tea Partiers Just Plain Ignorant

Anti-tax activists have no idea how much they pay in taxes

(Newser) - For a movement that frets so much about the “burden of federal taxation,” Tea Party adherents have a remarkably dim understanding of what they actually fork over to Washington. In a recent survey of anti-tax activists in Washington Tuesday, tea partiers thought, on average, that 42% of GDP...

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