Taxes

Tax season officially begins on Friday and it is shaping up to be another hectic year for taxpayers, preparers and the IRS.

Chief financial officer of Florida Jimmy Patronis explains how Disney will benefit from moving some of its jobs to the Sunshine State .

Amazon CEO Jeff Bezos, the richest man in the world, would owe close to $2 billion a year in state income taxes under a proposed wealth tax in Washington.

FOX Business anchor Larry Kudrow slammed New York on Wednesday for proposing a “phony policy” that could cause the NYSE to leave for another state with better tax incentives.

Many self-employed individuals are likely eligible for the benefit but there are parameters.

The CARES Act provided for a temporary above-the-line deduction of up to $300 for people who made cash donations to charity in 2020 and also plan to claim the standard deduction.

“Big Money Energy” author Ryan Serhant believes taxes are driving wealth out of states like New York and into states like Florida and warned that government should pay attention to the trend.

State revenues fell 1.6% in fiscal year 2020 and were 3.4% lower than projected before the pandemic.

The Senate conducted an 15-hour “vote-a-rama” on the budget Thursday that bled into the wee hours of Friday morning. A “vote-a-rama” is exactly what it sounds like.

The window for exploiting the basis for the payments might be limited.

The IRS mistakenly told tens of thousands of Americans that the agency was offsetting their stimulus payments because of unpaid federal debt from 14 years ago.  

Even individuals below the filing threshold may need to fill out a return this year.

The proposed facility is estimated to have a local economic impact of $8.6 billion over its first 20 years of operation, creating an estimated 1,800 direct jobs and 1,173 indirect jobs over 10 years. The company projects that the initial average annual wage for employees at the facility would be $66,254. 

The richest households paid 40.1% of all federal income taxes in 2018.

Washington state’s richest residents — including Jeff Bezos and Bill Gates — would pay a wealth tax on some financial assets under a new proposal.

Larry Kudlow, former top economic adviser to Donald Trump, argued on Wednesday that Sen. Elizabeth Warren's proposed wealth tax will really mean "higher taxes for everybody."