Iowa officials are warning that state income tax refunds will be delayed in 2018. The Des Moines Register reports that Iowa Department of Revenue Director Courtney Kay-Decker says the refund … Click to Continue »
(Paul Mirengoff) So reports Jibran Khan at NRO’s Corner. Senators Rubio and Scott have fallen into line, having secured an increase in the child tax credit refund. No surprise there. But here’s a surprise, at least to me. Senator Corker says he will vote for the bill, notwithstanding his concern that it will increase the deficit. Show More Summary
The Senate GOP is now united in support of the party’s tax plan. Senators Rubio (R-FL) and Scott (R-SC) announced their support after securing an increase in child tax credit refundability, which they have been pushing for throughout the bill’s finalization process. Show More Summary
Marco Rubio insisted that more of the bill's $2000-per-child tax credit be made "refundable," that is, it's a tax credit even if you don't pay taxes. In other words, it's a direct wealth transfer from tax-paying Americans to non-tax-paying Americans....
Republican Senator Marco Rubio signaled his support for a sweeping tax bill on Friday, saying changes that had been made at his urging to increase the refundability of a child tax credit marked “a solid step toward broader reforms.” “Increasing the refundability of the Child Tax...
U.S. Republican Representative Kristi Noem said on Friday that the refundable portion of an expanded child tax credit in the tax bill under negotiation on Capitol has risen to $1,400 from $1,000, an apparent bid to win support from Republican Senator Marco Rubio. “I believe we’re in a...
It looks like Marco Rubio is getting his wish. Thanks to his threat to vote against the tax bill, negotiators are increasing the refundability of the child tax credit: Taxpayers without income-tax liability will be able to get $1,400 of the $2,000 per-child credit, said Rep. Kristi Noem (R., S.D.), one of the members of […]
Talking Points Memo reports: Sen. Marco Rubio (R-FL) said Thursday that he won’t vote for his party’s huge corporate tax cut plan unless GOP leaders increase the size of the child tax credit. “I want to see the refundable portion of the child tax credit increased from its current number,” Rubio told reporters as he... The post Sen. Show More Summary
Senator Marco Rubio (R-FL) says that he will vote against the GOP tax bill, unless refundability of the child tax credit increases from its current $1,100, a choice he calls “Not tough at all.” Rubio came to the decision after partyShow More Summary
TAX BILL House and Senate negotiators have reached final agreements on most elements of the tax bill. And it looks like the Child Tax Credit will get expanded again. Under the proposal, the child tax credit would be refundable against payroll taxes as well — a big boost for low-income workers who pay 15% of [...]
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The Senate just voted to reject the Marco Rubio-Mike Lee child tax credit amendment to the GOP Senate Tax Bill by 71 to 29. The amendment would have made the child tax credit refundable against the payroll tax, resulting in higher immediate take-home pay for parents. Show More Summary
Ramesh below is absolutely right about the case for the Lee-Rubio amendment making the child tax credit refundable against both income and payroll taxes, and about the weakness of the case against it. If there’s a point I’d press aShow More Summary
Taxpayer sometimes believe that they can blow off the filing deadline if they are simply filing a return that will show an overpayment. That's poor thinking as Professor Les Book explains over at Procedurally Taxing blog. See “I Thought I Was Getting a Refund” is An Inadequate Excuse for Late...
More than half of consumers already have a plan to spend next year's tax refund.
“Meet Cindy: a single mom, making $30,000 per year, who hopes to one day get beyond living paycheck to paycheck. With a $700 increase in her tax refund each year under our tax bill, Cindy can start saving for her future.” — House Speaker Paul D. Ryan (R-Wis.), in a tweet, Nov. 17, 2017 Many […]
It's probably a lot larger than you realize.
This is a Subscribers-Only area. If you are a subscriber, please login. If not... Become a Subscriber Today » Please login below for access: Username or E-mail Password Remember Me Reset Password The post Kroll: Flawed Estimates Provide Misleading Support for Elimination of PAB and Advance Refunding Bond Tax Exemptions appeared first on Toll Roads News.
Departing IRS Director John Koskinen used his final news conference to warn about major dangers prompted by deep cuts in the tax agency's budget
Think you know when tax season will open and tax refunds will be released? Not so fast, says IRS. A number of sites are posting dates and charts but IRS says they are not yet set for 2018.