Robin McKinney of Columbia has a 5-year-old son and is getting $167 a month through the child tax credit. She said it’s all going to help pay for child care, which costs $288 a week.
Tagged with: child tax credit families Taxes
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July 15, 2021
Comments Off on Maryland Republicans launch effort to repeal tax on digital, streaming sales
Republicans in the Maryland Senate are hoping to rally public support to an effort to repeal a sales tax on digital download and streaming services in the coming legislative session.
Tagged with: Annapolis digital taxes General Assembly politics Taxes
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July 15, 2021
Comments Off on Child tax credit starts hitting families’ bank accounts
The child tax credit had always been an empty gesture to millions of parents like Tamika Daniel. That changed Thursday when the first payments went out.
Tagged with: families tax credit Taxes
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June 22, 2021
Comments Off on A ‘silver lining’: Ransomware payments may be tax deductible
The U.S. government offers a little-noticed incentive for those who do pay after ransomware attacks: The ransoms may be tax deductible.
Tagged with: cybersecurity hacking IRS ransomware Taxes
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June 8, 2021
Comments Off on Some of world’s wealthiest pay next to no income tax, ProPublica finds
The richest 25 Americans pay less in tax than many ordinary workers do, once you include taxes for Social Security and Medicare, ProPublica found.
Tagged with: rich Taxes wealthy
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June 7, 2021
Comments Off on G-7 nations agree to deter tax dodging, set minimum corporate tax rate of 15%
The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax of at least 15% to deter multinational companies from avoiding taxes by stashing profits in low-rate countries.
Tagged with: g-7 multinational corporations tax dodging Taxes
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June 1, 2021
Comments Off on Biden’s $6T budget proposal ramps up social spending, taxes on businesses
President Joe Biden is proposing a $6 trillion budget for next year that’s piled high with new safety net programs for the poor and middle class.
Tagged with: biden budget federal funds infrastructure Taxes
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May 21, 2021
Comments Off on Tax changes would boost IRS monitoring of cryptocurrency use
The Biden administration is taking steps to ensure Americans who pay for goods or services with cryptocurrencies don’t sidestep the tax man.
Tagged with: cryptocurrency IRS Taxes
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May 21, 2021
Comments Off on US proposes 15% minimum tax on global corporate profits
The U.S. Treasury Department said Thursday that it supports a global minimum corporate tax rate of at least 15% — below the 21% minimum it has been seeking to impose on the foreign profits of U.S.-based companies.
Tagged with: corporate taxes profits Taxes treasury
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May 17, 2021
Comments Off on Monthly payments starting in July to cover 88% of children
The Treasury Department said Monday that 39 million families are set to receive monthly child payments beginning on July 15.
Tagged with: child care Taxes
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