For posterity’s sake, here’s what the IRS says about its open Employee Retention Credit (ERC) […]
Tag: Tax Credits
The IRS Is Graciously Letting Taxpayers Withdraw Some Bad ERC Claims
On Thursday the IRS announced a special withdrawal process to help those who may have […]
The IRS Has Stopped Processing ERC Claims Because ERC Mills Are Scamming the F*ck Out of Them
The IRS announced today that it has issued an immediate moratorium on processing new employee […]
Utah Accounting Firm and Dudes Who Work There Busted For ERC Fraud
BUSTED. Get it? The report from KSL-TV in Salt Lake City we are about to […]
Maryland Lawmakers Prepared to Take Their Tax Credits Back From House of Cards
Oh, Maryland, you're so funny: Members of the Maryland House of Delegates are still stewing […]
Meanwhile in Canada, You Get a Tax Credit For Not Stinking the Joint Up
Apparently my Canadian pal Krupo is playing around with some tax software and tipped me […]
Senators Look to Expand Eligibility for a Successfully Dysfunctional Tax Credit
Today, Senators Dick Durbin (D-IL) and Sherrod Brown (D-OH) introduced legislation that will not only extend […]
After Filing Snafu, H&R Block Making It Up to Customers in Most Superficial Way Possible
Kinda like a thoughtless relative or friend who completely forgot your birthday: “H&R Block appreciates that […]
It’s Nice to Know That Tax Credits Aren’t Going Completely to Waste
This is what happens when tax breaks are used as political favors: Tax consultants estimate […]
Arkansas Governor Questions Anyone’s Patriotism Who Can’t Get Behind Tax Breaks for Wind Energy
Today in let's-make-asinine-statements-in-regards-to-tax-policy-news, Arkansas Governor Mike Beebe recently told a large crowd that, “[a]nyone standing in […]
Some in New Jersey Aren’t Crazy About This Film Tax Credit Situation
A chorus of angry politicians and a national coalition of Italian-Americans called on Gov. Chris Christie Thursday to veto a controversial $420,000 film tax credit awarded to the hit MTV television show “Jersey Shore.” “The governor needs to step up for decency and veto this. If the show wants to go somewhere else, let ‘em,” said state Sen. Joseph Vitale (D-Middlesex), who said it includes negative stereotypes of young Italian-Americans. “Let us just hope against hope that New Jersey taxpayers don’t end up paying for ‘Snooki’s’ bail the next time she is arrested. What a terrible, terrible and misguided waste.” said State Sen. Paul Sarlo (D-Bergen). [NJ.com via DMWT]
Here Are the Tax Breaks That Obama Wants Cut to Pay for the Jobs Bill
If you’re in the $200k+ club, a hedge fund manager or corporate jet owner, you won’t be pleased. From Reuters:
— A limit on itemized deductions and certain exemptions on individuals who earn over $200,000 and families who earn over $250,000, which would raise roughly $400 billion over 10 years.
— A proposal to treat carried interest earned by investment fund managers as ordinary income rather than taxing it at capital gains rates, which would raise $18 billion.
— Eliminating certain oil and gas industry tax breaks that would raise $40 billion.
— A change in corporate jet depreciation rules that would raise $3 billion.
Right. Can’t forget the oil companies.
Obama seeks $467 billion in tax changes to fund jobs plan [Reuters]