WASHINGTON — The IRS is expanding its program that allows people to file their taxes directly with the agency for free. The federal tax collector’s Direct File program, which allows taxpayers to calculate and submit their returns to the government directly without using commercial tax preparation software, will be open to more than 30 million … Read more
The New Jersey Lottery has been waiting for the $1.13 billion Mega Millions jackpot winner to claim the prize since March. The unclaimed ticket, which has a cash value of over $537 million, was sold in Neptune Township of Monmouth County, New Jersey. Lottery officials are urging all players to check their tickets for the … Read more
South Africa has officially started investigating claims of tax evasion and unfair pricing, or “dumping,” involving car, bus, and truck tyres imported from Vietnam, Thailand, and Cambodia. The investigation is being led by the South African Tyre Manufacturers Conference. It focuses on whether these countries are avoiding anti-dumping taxes that are already in place for … Read more
A Morningstar Center for Retirement & Policy Studies research leveraged a new simulation tool to find that 45% of Americans retiring at 65 face risks of running out of money in retirement as people live longer and share greater responsibility for their retirement savings. The simulation considered attributes like health conditions, nursing home expenses, and … Read more
Social Security rules like the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) markedly reduce Social Security benefits for nearly three million US retirees receiving pension income. Under WEP, individuals receiving retirement or disability pension income from public employers that don’t withhold Social Security taxes from their salaries will see their Social Security … Read more
Heard of ballot box biology? That’s when special interests ask voters to circumvent the expertise and inclusive decision-making of the Colorado Parks and Wildlife Commission to get what they want. Equally pernicious is ballot box budgeting which distorts the state budget process in favor of certain interests by appealing directly to voters through initiatives. Ballot … Read more
Expect Colorado’s upcoming state tax refund to be the last big one for a while. Forecasts by legislative economists released on Thursday predict a softening of economic conditions, tighter budget forecasts and recent changes to state law. Together, those are expected to decrease state refunds due under Colorado’s Taxpayer’s Bill of Rights, or TABOR, from … Read more
Former President Donald Trump, an avowed proponent of tax cuts, is floating the idea of reversing a measure passed during his tenure in the White House that effectively raised taxes for many U.S. homeowners. In a post Tuesday on Truth Social, Trump suggested he would scrap a $10,000 cap on deducting state and local taxes (SALT) that … Read more
There is a legitimate debate to be waged over the current two-thirds voter threshold for approval of local bond measures in California. Some feel it’s too stringent, undermining the will of the majority. Others argue it’s an appropriately tough hurdle to ensure that there is broad consensus before saddling future generations with additional tax debt. … Read more
Shoppers on Wicklow Street in Dublin, Ireland, on Thursday, March 28, 2024. Bloomberg | Bloomberg | Getty Images A landmark ruling from the European Union’s top court means Ireland will receive 13 billion euros ($14.4 billion) in unpaid taxes from Apple — a windfall that Dublin had spent several years fighting to avoid. It leaves … Read more
