#taxes
#taxes

Is California Headed For Another Tax Revolt? | KQED

Potential tax fight brewing in California amid ballot measures and legal battles.

Bill reintroduced in California for striking workers to qualify for unemployment benefits. [ more ]

Los Angeles Times

Los Angeles

IRS gives taxpayers in disaster-stricken San Diego County two extra months to file returns

Taxpayers in San Diego County have an extended deadline until June 17 to file returns and pay taxes due to recent winter storms.

Relief extended to other California localities affected by storms if added to the disaster area. [ more ]

Los Angeles Times

Los Angeles

Pot shops owed millions in taxes. So, California sold their bongs and pipes, and made $2,075

California seized property from marijuana dispensaries to recover $14.4 million in unpaid taxes, but only made $2,075 at auction. [ more ]

Los Angeles Times

Voters say California's budget deficit is an 'extremely serious' problem, poll finds

Half of California registered voters consider the state budget deficit an 'extremely serious' problem. 57% believe the state is headed in the wrong direction.

The state budget relies heavily on capital gains taxes paid by California's highest earners, making state revenues prone to volatility in the stock market. [ more ]

Dodgers Nation

LA Dodgers

Will Shohei Ohtani's Contract Prompt Congressional Intervention?

By deferring $68 million in salary each year, Shohei Ohtani's contract raises the possibility that he can avoid paying the bulk of his state taxes by residing outside of California once his contract expires.

California state controller Malia Cohen is calling on Congress to close any loopholes that would allow Ohtani to avoid paying his full share of state taxes on his new contract. [ more ]

Dodger Blue

LA Dodgers

California State Controller Asks Congress To Take Action Following Shohei Ohtani's Contract With Dodgers

The Los Angeles Dodgers signed Shohei Ohtani to a $700 million contract, with $680 million deferred.

The state of California expressed concern over the deferred money, as it could result in Ohtani avoiding paying taxes on a large portion of his earnings. [ more ]

New York Post

New state budget bites NYC: On the hook for migrants, schools

Gov. Kathy Hochul's rollback adds $4 billion to state pension liabilities, increasing concerns about high spending and burden-shifting. [ more ]

New York Post

NYC to get $2.4B for migrant crisis in Hochul's record-breaking state budget

Governor Hochul unveiled a $233 billion budget for the next fiscal year, including $500 million for NYC's migrant crisis.

The budget includes funding for various initiatives, such as retail theft prevention, flood resiliency, and campaign financing.

No tax increases are proposed. [ more ]

Times Union

No tax increases as Hochul set to unveil $233B budget proposal

Gov. Kathy Hochul is releasing a $233 billion executive budget that includes $2 billion for the migrant crisis.

The budget proposal will not increase personal income or business taxes, but will rely on revenue forecasts and reductions in Medicaid. [ more ]

moremigrant-crisis

www.france24.com

Business - French government plans unemployment reform, refuses new taxes

French Prime Minister Gabriel Attal plans to tighten unemployment benefits to address a large budget deficit.

The French government rejects calls for new taxes, including on corporate windfalls and share buybacks. [ more ]

euronews

Farmers in Romania, France and Germany continue road convoy protests

Agricultural workers in Romania, Germany, and France are protesting against green policies and taxes, demanding more government subsidies.

Farmers in these countries claim that they are being negatively impacted by environmental reforms and need subsidies to offset the costs. [ more ]

irs

time.com

Artificial intelligence

Can AI Help You Do Your Taxes?

Tax companies are using AI tools to simplify tax filing processes by automating tasks, identifying tax breaks, and minimizing compliance risks.

Taxpayers should not solely rely on AI tools for tax filing due to inaccuracies, but AI is predicted to significantly impact the tax industry in the future. [ more ]

Sacramento Bee

Can I file my taxes for free through the IRS? Here's how the new Direct File program works

The IRS is launching a new, free way to file taxes called the Direct File pilot program.

The program is currently limited and requires an invitation to participate, but it is expected to be more widely available in mid-March. [ more ]

New York Post

Joe Biden proves he's a hypocrite as money keeps pouring in

President Joe Biden criticized millionaires for not paying their fair share but minimized his taxes when making millions.

Special Counsel's report reveals Biden's financial motives, including sharing classified information for profit. [ more ]

New York Post

US politics

Biden's daughter owes thousands in income taxes, lien documents show

Ashley Biden, President Biden's daughter, owes $5,000 in income taxes beginning in 2015.

The tax lien was issued by the Pennsylvania Department of Revenue in Philadelphia County. [ more ]

New York Post

US politics

Biden demanded wealthy 'pay their fair share' - while Hunter ducked taxman

Joe Biden campaigned on wealthy Americans paying their fair share in taxes, while his son Hunter allegedly evaded taxes.

Biden's tax plan and policies have been criticized for targeting the wealthy while his own family engaged in questionable tax behavior. [ more ]

www.theguardian.com

Labour and Tories need to be honest about economic trade-offs, says IFS

The next UK government will face tough choices regarding taxes and spending due to weak growth and high debt interest payments.

The Institute for Fiscal Studies warns that budget tax cuts risk being reversed or paid for by spending cuts. [ more ]

New York Post

Hochul's budget isn't terrible - but will she stand up to lawmakers who will want to make it so?

Gov. Hochul's budget proposal for next year does not include any new taxes.

The budget aims to keep overall spending roughly flat and slow the growth of school aid. [ more ]

New York Post

5 months ago

NYC Council budget alternatives are non-starters

The New York City Council is proposing to spend reserve funds meant for a true crisis and increase taxes, despite Mayor Adams' call for budget cuts.

City spending has increased by 52% over the last decade while the quality of life in New York City has deteriorated. [ more ]

morespending

The Good Life France

Investment Property in France - what you should know - The Good Life France

Buying a property in France may not always be a good investment due to rising property taxes and other costs.

Property investments in France should be backed up with thorough financial planning to avoid common mistakes. [ more ]

www.theguardian.com

5 months ago

France to ban smoking on all beaches in effort to create tobacco-free generation'

France is banning smoking on beaches and in public parks, forests, and near schools.

The government is aiming to create the first tobacco-free generation by 2032.

Taxes on cigarettes will be increased, and the government wants to ban single-use disposable e-cigarettes. [ more ]

New York Post

Sorry, City Hall: Migrant flood is zero consolation as residents flee

Residents are leaving NYC due to high crime and taxes, being replaced by illegal migrants.

New York City's population is maintained by migrants, while taxpaying residents are leaving. [ more ]

Newsday

Struggling to stop illegal cannabis stores, New York governor asks online sites to hide them

New York Governor asks online sites to hide illegal cannabis dispensaries

Legal marijuana shops in New York face challenges in competition with illegal vendors. [ more ]

Axios

Biden's 2025 budget plan includes tax increases for corporations and the wealthy

Biden accuses GOP of favoring pharmaceutical companies

Biden to send budget to Congress with populist economic agenda [ more ]

Truthout

Poll: 74 Percent of Millionaires in G20 Countries Support Higher Taxes on Wealth

74% of millionaires in G20 countries support higher taxes on extreme wealth to address the cost-of-living crisis and improve public services.

More than 70% of respondents believe that wealth helps buy political influence and see extreme concentrations of wealth as corrosive to democracy. [ more ]

New York Post

Who is Ashley Biden? Joe Biden's daughter who owes thousands in taxes

Ashley Biden owes $5,000 in income taxes dating back to 2015.

Ashley Biden followed in her father's footsteps and pursued a career in public policy. [ more ]

New York Post

Ashley Biden taxes dodge shows ALL Bidens think law doesn't apply to them

Ashley Biden owes $5,000 in income taxes dating back to 2015

The news raises questions about the Biden family's commitment to paying taxes [ more ]

www.theguardian.com

EU data protection

Jeremy Hunt mirrors Labour policy by axing non-dom tax rules

Non-dom rules axed in the UK, moving towards a residency-based tax system from April 2025.

Transitional arrangements in place for current non-doms, encouraging them to bring wealth to the UK. [ more ]

Coindesk

Cryptocurrency

Indonesia's Crypto Watchdog Pushes for Friendlier Taxes as Regulatory Overhaul Looms

Indonesia's crypto regulator wants tax reconsideration

Crypto may be treated as securities under OJK oversight [ more ]

Coindesk

Cryptocurrency

Indonesian Crypto Exchanges Blame Dramatic Drop in Trading Volumes Partly on High Taxes

Indonesia's crypto exchanges saw a 60% drop in transaction volume in 2023 compared to the previous year.

Local exchanges blame the drop on high taxes, including income and VAT taxes that apply to crypto as commodities. [ more ]

time.com

Tech industry

Jeff Bezos Nets $8.5 Billion From Amazon Share Sale

Jeff Bezos sold 14 million Amazon shares, totaling $2.4 billion in just nine days.

Bezos' move from Seattle to Miami may save him considerable taxes due to Washington's capital gains tax. [ more ]

Forbes

Marketing

BrandStorytelling BrandVoice: Dive Into 'Responsibility Island' From H&R Block

H&R Block ventures into branded entertainment with 'Responsibility Island'.

Collaboration between H&R Block and Piro results in a strategic and entertaining tax-themed show. [ more ]

Yahoo Finance

Marketing

When to pay the ATO: How social media complicates tax

Social media influencers may need to pay taxes on their income depending on whether their work is considered a hobby or a business.

The Australian Taxation Office (ATO) uses several factors to determine if an influencer's work is a taxable business, including the commercial purpose, intention to engage in business, purpose of profit, regularity, and repetition of the activity. [ more ]

The Drum

Marketing

H&R Block parodies Netflix's Too Hot to Handle in new responsibility-themed reality show

H&R Block has created a four-part satirical reality series to educate young consumers about finances and taxes.

The program will be available for streaming on Roku and aims to engage young tax filers through unique and entertaining content. [ more ]

Sacramento Bee

Last California tax deadline was just months ago. What do you have to do this year?

California's state Franchise Tax Board received 4.5 million personal tax returns during last year's extension period following catastrophic winter storms.

California provides an automatic extension to file every year, but payment is still due April 15. [ more ]

Sacramento Bee

Gavin Newsom goes on defense over California Democrat's wealth tax. Why it's a political move

Governor Newsom criticized a proposal for a tax on wealthy Californians during his budget presentation.

The plan for a state tax on ultra-millionaires and billionaires was quickly shelved by state lawmakers. [ more ]

New York City

New York Post

New York City

Mazi Pilip, Tom Suozzi stump on final day of early voting in race to replace George Santos in Congress

Tom Suozzi criticized his opponent, Mazi Pilip, during a rally, calling him 'George Santos 2.0'.

Republican Nassau County Executive Bruce Blakeman praised Mazi Pilip's record and criticized Suozzi's tax increases and immigration policies. [ more ]

www.nytimes.com

5 months ago

New York City

New York's Millionaire Class Is Growing. Other People Are Leaving.

The ranks of millionaires have surged in New York while lower- and middle-income residents are leaving the city.

Black and Hispanic families making between $32,000 and $65,000 were leaving New York at the fastest rate last year. [ more ]

moreNew York City

www.berkeleyside.org

East Bay food

Berkeley Public Works employee charged with violently threatening boss over taxes

A Berkeley Public Works employee is facing charges for allegedly threatening his supervisor at the Berkeley Corporation Yard.

The employee, Pat Lynn Urdahl, is accused of making threats out of anger for having to pay taxes instead of receiving a refund. [ more ]

www.independent.co.uk

UK news

Rishi Sunak: I can't keep pledge to reduce NHS waiting lists

Rishi Sunak has admitted to failing on his promise to cut NHS waiting lists, which is the first time the prime minister has acknowledged being off track on his key targets.

Sunak's pledge to get the UK economy growing again is still uncertain, but he claims that he will stop the boats once deportation flights to Rwanda start running. [ more ]

Intelligencer

US Elections

Why Republicans Don't Want to Solve the Border Problem

Republicans are more willing to deal on taxes than on immigration due to the different nature of these issues in terms of political capital.

Republicans use immigration as a wedge issue against Democrats to win elections, while taxes are a policy goal they consider vital. [ more ]

www.dw.com

Europe news

Farmers protest in Brussels amid EU summit DW 02/01/2024

Farmers in Belgium have blocked roads leading to a European Union summit in Brussels using tractors as a form of protest.

The farmers are complaining about taxes, rising costs, cheap imports, rules, and bureaucracy. [ more ]

BBC News

UK politics

Labour 'shameful' for not scrapping banker bonus cap - SNP

Stephen Flynn criticizes the PM for being out of touch with public opinion.

The SNP claims the end of the cap on bankers' bonuses is due to 'broken Brexit Britain'. [ more ]

www.theguardian.com

UK politics

What is Labour's 28bn green plan and could it be shelved?

Labour's proposed green prosperity plan would commit 28bn a year to kickstart the UK's transition to a low-carbon economy.

The plan includes boosting renewable energy, insulating homes, improving transport infrastructure, fostering low-carbon industries, and helping fossil fuel-reliant industries transition to net zero.

The 28bn figure has been criticized by the Tories, who claim it would require higher taxes, but economists argue that it can be funded without raising taxes and seen as an investment. [ more ]

PortlandTribune.com

Wine

Oregon task force focus for Legislature: beer and wine taxes, plus alcohol addiction

Rep. Tawna Sanchez, a proponent of alcohol taxes, is chairing a state task force studying the public health impacts of alcohol abuse.

The task force is examining alcohol addiction in Oregon, the cost to the state, and funding for addiction prevention and treatment. [ more ]

therealdeal.com

LA real estate

Upscale Residents Leave LA to Escape Mansion, Other Taxes

Los Angeles is seeing an increase in wealthy residents leaving the city in search of lower taxes and more favorable conditions in other states.

The mansion tax, which took effect in April, has been a significant factor in driving wealthy residents out of Los Angeles. [ more ]

Austin Monitor

Austin

Austin confronts legal challenge to 10-mile light-rail plan - Austin Monitor

City Council and the Austin Transit Partnership are pushing back against a lawsuit aiming to terminate the 10-mile light-rail network project in Austin.

The plaintiffs argue that the city lost its authority to collect taxes for the project when the plans changed after the 2020 election. [ more ]

HuffPost

Social justice

Most States Have Tax Codes That Are Rigged To Benefit The Wealthy: Report

The top 1% in four out of every five states pay a lower tax rate than middle-class and low-income residents.

The majority of states have tax systems that disproportionately burden lower-income families, according to the report by the Institute on Taxation and Economic Policy. [ more ]

www.dw.com

Germany politics

Germany: Farmers blockade Berlin in tractor protest DW 12/18/2023

German farmers are protesting proposed diesel subsidy cuts and taxes that could cost them up to 1 billion euros.

The government is justifying the cuts as a way to address the country's budget deficit and reduce climate-damaging subsidies. [ more ]

Miami Herald