There has been a lot of discussion amongst government leaders about the cap on state and local tax (SALT) deductions. The Biden Administration’s Build Back Better Act proposes raising the cap, currently set at $10,000, to $80,000. But what is the SALT cap? And how would a ...
by Karl W. Smith Some centrist Democrats in Congress are pushing for a suspension of the gasoline tax, on the federal and state levels, and it’s not hard to see why: Many of them face tough odds for re-election next year, and rising fuel costs affect every one of their constituents. ...
MORGANTOWN – Sen. Shelley Moore Capito joined with other GOP senators on Wednesday to slam what they call a hypocritical tax break for the rich included in the House Democrats' version of the Build Back Better bill. “Supposedly,” Capito said, “as the president has explained, ...
The St. Louis Post-Dispatch has long argued that Democrats should leave in place a cap on deductions that wealthy taxpayers can claim based on their state taxes — the one good part of the Republicans’ 2017 tax-cut package. Now Democrats are nonetheless on the verge of dramatically raising ...
Architecture firm bookkeeper withheld nearly $2M from IRS Newsroom@DominionPost.com An area woman pleaded guilty Thursday to willfully failing to pay over to the IRS employment taxes withheld from employees’ wages. According to court documents and statements made in court, ...
by Maura Quint The year is 1975. The Bee Gees are at the top of the charts. “The Godfather: Part II” just won the Academy Award for Best Picture. And income inequality is the lowest it’s been in generations. Flash forward to 1985. Wham! is the band of choice. “Back To The ...