A change in property tax payment methods and what changes are ahead for federal income taxes were the subjects of posts last week at my other tax blog.
Homeowners in an Indianapolis neighborhood were hit with higher property taxes to cover a new sewer system. They got to choose whether to pay the real estate tax in full or pay it off over 30 years.
A small group paid the total tax. So when the city changed the payment system and forgave the unpaid tax still owed by the installment paying homeowners, the early payers sued, seeking a refund of some of their quickly paid taxes.
The case went all the way to the U.S. Supreme Court, which said "sorry." The country's highest court ruled for the city. My Bankrate Taxes Blog post explains why.
There's no good explanation, however, for why there's such resistance to letting the Bush tax cut rates for the two top income brackets go up as scheduled in January 2013.
According to a new analysis of the possible hike's effects, less than 2 percent of Americans will feel the potential tax increase.
You can check out my new tax posts over at Bankrate.com each Tuesday and Thursday. If you happen to miss them on those days, you can find a wrap-up here the following weekend.
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