tax

**BIDEN’S HOUSING TAX CREDIT SHAKE-UP: Will $10,000 Move the Needle for Locked-In Buyers in Frozen Market?**

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Washington, D.C. — As the housing market continues to navigate through the aftermath of the pandemic, President Joe Biden has introduced a new plan to address the challenges faced by homeowners across the country. The market, having experienced drastic shifts from a buyers’ market to a sellers’ market and back again, is currently experiencing a period of stagnation with historically low levels of home sales and soaring mortgage rates. President Biden’s proposal includes a one-year …

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Executive Compensation Outstrips Corporate Tax Payments in New Report on America’s Top Companies

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San Francisco, California – A recent report has shed light on the disparity between the compensation of top executives at some of America’s largest companies and the federal taxes paid by these companies. According to the analysis by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS), senior executives at 35 different firms, including well-known companies like Tesla and T-Mobile US, received more in pay than the net tax payments of their …

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Tax Credit: Biden’s Bold Move to Make Homeownership Attainable for All Americans

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Washington, D.C. – The dream of homeownership is slipping further out of reach for many Americans, as they face soaring home prices and high mortgage interest rates. In response to this housing affordability crisis, President Joe Biden unveiled a proposal during his State of the Union address to introduce new tax credits aimed at assisting first-time homebuyers and current homeowners looking to upgrade. Under the proposed plan, first-time homebuyers could receive a $10,000 tax credit …

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Budget D.C. Leaders Prepare for Tax Increase as Budget Gap Nears $800 Million – What You Need to Know Now!

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WASHINGTON, D.C. leaders are gearing up for a challenging budget season ahead, anticipating a deficit of $600 million to $800 million for the fiscal year 2025. The impact of the ongoing pandemic on office vacancies and tax revenue has put pressure on city officials to consider a potential tax increase to address the financial shortfall. D.C. Council Chairman Phil Mendelson highlighted various financial strains on the city, including the expiration of federal pandemic aid, which …

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Tax Relief Package Rejected by Gov. Evers: Financial Disaster Looming?

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MADISON, Wisconsin – Governor Tony Evers made a decisive move on Friday by rejecting three key bills from a $2.1 billion tax package proposed by Republicans. In a strong statement, Evers expressed concerns that these bills would lead Wisconsin down a path towards financial insolvency if enacted. The rejected bills aimed to expand the state’s second-lowest tax bracket, provide exemptions for retirees’ income, and increase tax credits for married filers. Although Evers has yet to …

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Receipts Surge, Tax Refunds Plunge: US January Deficit Plummets in Shocking Turnaround

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The Treasury Department reported that the U.S. January deficit saw a significant decrease as receipts increased and tax refunds declined. The deficit for the month dropped to $165 billion, which is 60% less than the January 2021 deficit of $404.5 billion. This significant improvement was attributed to the growth in tax receipts and the decrease in tax refunds. The increase in tax receipts was primarily driven by higher estimated tax payments from corporations and individuals, …

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Private Equity Option for NFL Succession Drama: Billionaire Owners Tackle Tax Concerns

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Kansas City, Missouri – The rise of private equity in the NFL ownership landscape has captured the attention of sports enthusiasts and financial analysts alike. Billionaire families are increasingly turning to private equity as a means of addressing complex tax concerns and securing the succession of their football franchises. This trend has sparked a debate about the implications of private equity involvement in the NFL. Some argue that it brings financial stability and long-term growth …

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2024 Enhanced Child Tax Credit: Congress Poised to Approve Larger Refunds for Lower-Income Families

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WASHINGTON, D.C. — The Senate is currently considering a bill that could potentially provide more financial support to lower-income families with children this year. The proposed Tax Relief for American Families and Workers Act of 2024 seeks to expand the child tax credit, boosting the maximum refundable amount per child over the next three years if approved and signed into law. In 2021, Congress temporarily expanded the child tax credit as part of a massive …

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Child Tax Credit Delay: Key Info for 2024 Tax Refund Payouts

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Houston, TX – Tax season has arrived, and many Americans are looking forward to receiving their tax refunds. However, for those claiming additional credits such as the child tax credit and the earned income tax credit, there may be delays in getting their refunds. According to the IRS, the average person typically receives their refund within 21 days of filing their tax return, but this timeline may be extended for those claiming certain credits. Not …

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Child Tax Credit Expansion Splits Wisconsin Delegation – Gwen Moore Votes Against Controversial $80B Tax Package

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Milwaukee, Wisconsin – Representative Gwen Moore has long been an advocate for low-income families and children in Congress, focusing on fighting for policies that support their needs. While Moore has worked to expand the child tax credit, she recently voted against a nearly $80 billion tax package aimed at doing just that. She argued that the measure does not do enough to address the needs of the poorest families, stating that the proposed changes would …

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