#state-taxes-and-regulations

#state-taxes-and-regulations

Preparing and submitting individual income tax returns costs taxpayers more than $91 billion a year, nearly half of which represents the opportunity cost of lost hours spent on tax compliance.

"During COVID, we learned that it is far too easy to commit fraud in federal programs. We also learned that once the money goes out the door to a fraudster, the vast majority is gone for good."

Trillions flow into the United States government on Tax Day, yet a significant share is directed toward war and defense contractors, rather than essential services.

"Yes, we're No. 1 in education. Yes, we're a safe state," said Chris Keohan, the spokesperson and consultant for the Taxpayers for an Affordable Massachusetts ballot committee. "But what does it tell you if we're losing people to states that are less safe, that have less level of education? It tells you that we're at a breaking point and something absolutely has to be done."

"I was thinking, well, it's a little inconsistent for me to refuse induction, refuse to go into the military, yet pay taxes that would fund other people to go into the military," the 81-year-old told Fortune.

The law did not eliminate the charitable deduction in name. It rendered it functionally useless for anyone who does not already have enough deductions to clear the standard deduction threshold on their own.

The collector general has secured six debt judgments against James Geoghegan in the past six-and-a-half years for a total of almost €550,000.

The FPPC wants to know if county government funds were used on Measure A campaign mailers, following complaints from the Silicon Valley Taxpayers Association and Libertarian Party of Santa Clara County.

Georgia's program ranks among the most generous in the country, with many states offering their own versions of a match with the federal LIHTC program, often focusing on preserving existing affordable housing rather than building more.

"My constituents are saving thousands of dollars and they know it. Republicans can and should take credit because the alternative would've been massive tax hikes under the Democrats had they won the 2024 election."

An update to the tax code will enable some car buyers to write off their monthly payments on their taxes this year, with significant caveats for eligibility.

"If we don't get what we need [in terms of extra government help] then a Section 114 Notice will come in, which is effective bankruptcy. We'd then get administrators come in, in effect - they'd then make a plan for where the money gets spent in Worcestershire. It would be a catastrophe. We're going to have to halt projects that were put into the budget by the previous administration, things that maybe were 'nice to have', but we can't afford them."

MONTEREY - The city of Monterey declared a fiscal emergency to place new tax measures on the ballot this summer. The Monterey City Council met Tuesday, continuing the discussion of the city's $10 million deficit that they are trying to rectify through the 2026-2027 fiscal year budget, which starts in July. The council voted unanimously to declare a fiscal emergency, which city officials said was needed in order to place new tax measures on the ballot.

Days before the 2026 tax filing season begins, the head of the IRS announced a shake-up Tuesday, saying the personnel and operational changes are intended to improve taxpayer service and modernize the agency. The timing of the announcement coincides with a critical moment for the agency, as the IRS prepares to process millions of tax returns while simultaneously implementing major tax law changes under the tax and spending package President Donald Trump signed into law last summer.

If you live in Illinois, you pay a greater percentage of your income in taxes than almost anyone of any income stratus anywhere in the country. That's not right,

The proposed Billionaire Tax Act, imposing a one-time 5% tax on the total wealth of Californians whose net worth is $1 billion or more, needs reconsideration. Certainly, anyone with $1 billion (or more) has more than enough to live very comfortably, but there is an approach that would be less onerous to the billionaires and more helpful to the state. A one-time 5% tax would bring in a windfall for the state - once.