Taxes

Cuomo rejected a push to soak the rich in New York and said taxes that target billionaires could drive them to relocate.

Larry Kudlow, a long-time advocate of lowering taxes as a way to promote growth, is pushing for a payroll tax cut as a key part of the plan to spur economic growth amid the four-month-long pandemic recession.

Ocasio-Cortez, a New York Democrat, is part of a coordinated movement pushing Cuomo to pass legislation that would tax the state's 118 billionaires.

In postponing the filing deadline, the IRS also opened to the door to delayed refunds, as filers who took the extra three months to get their taxes done would, in turn, have to wait that long to get any money they were due back as a result.

He said the plan would reduce after-tax incomes “at all income levels including the middle class.”

The city's Unincorporated Business Tax generated more than $2 billion in revenue last year.

Experts say you should be prepared to act quickly.

The silver lining is that you may accrue interest on that delayed payment.

Because of a quirk in tax law, about 20 states may tax the aid that companies received through the $670 billion Paycheck Protection Program.

Every politician understands the importance of tax revenue.