Politics Feed

"The Witch Trial," an 1848 painting by William Powell Frith via Wikimedia Commons Witch hunt. It's been one of Donald J. Trump's favorite phrases for more than two years. He's used the term 310 times, according to Factba.se, the website launched in January 2017 by Virginia husband and wife team Bill Frischling and Jennifer Canty as a way to track and share all of Trump's utterances, be they verbal, written or, most frequently, on social media. The last time Trump invoked witch hunt to decry investigations linked to him was in a Tweet the afternoon of May 12: ....employment numbers... Read more →


The Internal Revenue Service has formed a working group to look into allegations that some of its Free File members really didn't (don't?) want taxpayers to file for free. State and city officials have launched official investigations into or taken legal steps in connection with allegations that some tax software companies redirected online searches away from their free options on at the IRS website. Now what is being hailed as the first nationwide class-action lawsuit in the matter has been filed against Intuit, the maker of TurboTax. Tax software giant is legal target: It's no surprise that the tax software... Read more →


Photo by vxla via Flickr CC If gratuities are part of your work, then the 10th of the month is an important tax date for you. It's the day — or the next businesses day if the 10th falls on a weekend or holiday — that you must report your tip amount for the previous month when it totals $20 or more. The Internal Revenue Service requires these reports because the tax code considers all types of tips as discretionary, fully taxable income. Wisconsin workers, however, may soon get a break on the state tax level when it comes to... Read more →


Free File is finally getting a lot of attention. Unfortunately for companies involved in the Internal Revenue Service/tax software partnership, it's not the kind of attention they want. The IRS now is following state officials in California and New York in looking into whether potential Free File users were intentionally directed away from the program. Free but not that popular: Free File, as the name indicates, was designed to allow most taxpayers access to no-cost online tax return completion and electronic filing. The 2019 filing season is its 17th. It's still available to taxpayers through the Oct. 15 extended filing... Read more →


Around two dozen tax breaks are now in a legislative zombie state, much like these creatures in George Romero's classic zombie film "Night of the Living Dead." The tax versions are waiting for federal lawmakers to bring them back to life or finally and completely put an end to them. (Photo via Wikimedia Commons) A dozen groups spanning the political spectrum are urging Congress to let zombie tax extenders remain dead. Are you still waiting on expired tax provisions to be resurrected? If a motley crew of public policy, tax and advocacy groups get its way, you'll be waiting forever.... Read more →


Today is the start of the annual Small Business Week. And yes, you can combine it with Cinco de Mayo and raise a margarita to your favorite entrepreneur. These 30 million or so smaller companies are hailed as America's backbone. Approximately 10 million are women-owned, 29 percent are minority-owned and nearly 10 percent are veteran-owned. Running a small business has never been easy. In fact, their size tends to put more pressure on such operations. Profit margins are thin. The ability to offer benefits to workers is stretched. And small companies tend to be more at the mercy of the... Read more →


Photo by Ken Hawkins via Flickr CC Free. It's the most magical word in the world. Everyone is always looking to get something for nothing. That includes tax filing. A couple of weeks ago, the tax and consumer protection worlds were abuzz over a provision in the Taxpayer First Act of 2019 that cleared the U.S. House with a provision that keeps the Internal Revenue Service from developing its own no-cost tax filing program. Such total IRS ownership of the form filling and electronic filing is the unicorn of the tax world for many. They oppose Uncle Sam acting as... Read more →


It was a gorgeous sunset at this Astros game at Minute Maid Park, but the Houston MLB franchise and other professional sports teams are looking at a recent IRS ruling that provides them a bright new dawn for favorable tax treatment of player trades. (Photo by Kay Bell) It's a busy time for professional sports fans. National Basketball Association (NBA) and National Hockey League (NHL) playoffs are in full swing. Major League Baseball's (MLB) early season is already full of surprises. Just what is wrong with the World Series champion Red Sox and Chris Sale? The National Football League (NFL)... Read more →


High tax filing season is over and the numbers have been tallied. Unfortunately for Republicans who still are fighting the public relations war over their major tax reform law, the figures aren't good. Yes, fractionally more money has been delivered to taxpayers through April 21, almost a week after the filing deadline for most U.S taxpayers. But the average refund check remains smaller than it was last year. In 2018, the average refund was $2,780. This year, it came to $2,725. In case you're not good at math in your head (I'm not) and don't have a calculator handy, that's... Read more →


Social Security might be in trouble, but as long as it's around in some form, Uncle Sam will keep collecting taxes related to it. That includes not only the payroll taxes from workers that go toward funding the federal retirement benefits, but also in some cases on the benefits themselves. If you have enough money when you're older to enjoy time the way you want with your grandchildren, you might face taxes on your Social Security benefits. Stop me if you've heard this before. Social Security is running out of money. That's the latest word from the trustees of the... Read more →


Multiply this computer trouble by 150 million taxpayers and you'll get an idea of the scope of the IRS' new plan to upgrade its technology systems. The Internal Revenue Service made it relatively unscathed through the 2019 main tax filing season. That's pretty amazing when you consider the agency: had sworn in a new commissioner just a few months earlier, had to tailor the season's opening around the longest-ever federal government shutdown, was still working on implementation of and guidance for the first major tax reform bill in more than 30 years and did it all using antiquated computer systems.... Read more →


420 Day celebrant photo by GoToVan via Flickr Happy 420 Day, when marijuana smokers commemorate cannabis. It's not surprising that the origins of this unofficial holiday to celebrate weed are fuzzy. Some say it's based on the California police or penal code number 420 that designates marijuana smoking. Not true. Another theory is that there are 420 active chemicals in marijuana. That count must have been made after a few tokes over the line. There are more than 500 active ingredients in marijuana, with only about 70 or so being cannabinoids unique to the plant. A more likely explanation is... Read more →


Feeling pretty good today, are you? You got your taxes done and to the Internal Revenue Service on Tax Day. Now you can shift from complaining about doing your taxes to complaining about how they are spent. Here, direct from the U.S. Treasury is a graphic look at where our tax dollars went in fiscal year 2018, which ended Sept. 30, 2018. Source: U.S. Treasury final monthly statement for fiscal year 2018 Click graph for a larger image In addition to this graphic, the 36-page statement includes details on Uncle Sam's expenditures, as well as the scoop on the $779... Read more →


Driving vacations are much more enjoyable when gasoline is cheap and the person behind the wheel isn't as amped up as this guy! The surest sign that summer is on the way is not temperature changes, but increasing gasoline prices. Oil companies traditionally take advantage of the seasonal shift, as families here in Texas and elsewhere across the country load up their cars — and fill up the gas tanks — to hit the road. Not too long ago, I topped off my tank with regular at $1.89 per gallon. Today the lowest price I've seen in the area is... Read more →


It's official. House Democrats have formally requested copies of the last six years of Donald J. Trump's personal and business federal tax returns. Trump has steadfastly refused to make public his taxes, breaking a modern-day tradition set by presidential candidates — and in-office presidents (and vice presidents) — of letting the public have a glimpse of White House 1040s. The main reason Trump has given for keeping his taxes private is that his personal and business filings are under audit. Tax experts throughout the media agree that no sane person would give their tax returns during an audit. After the... Read more →


Broad City image via Giphy.com Do you have to file a return? Sorry to be the bearer of bad news, but the answer usually is yes. But there's a difference between having to file a tax return and submitting a 1040 form because you should. And by should, I mean when it's to your advantage to do so. Yes, that does happen in the tax world now and then. When filing is required: First, though, let's look at when the tax code says we must send the Internal Revenue Service a Form 1040. Although the 1040 has a new look... Read more →


Tax credits for buying a Chevrolet Bolt, left, or Volt are going down on April 1. (Photo courtesy Driving Canada) The climate change debate rages on in political circles, but on U.S. roadways, many folks are voting, as the old saying goes, with their pocketbooks. They're buying more energy efficient and less polluting cars. And Uncle Sam has been part of that sales campaign. A federal tax credit that can be as much as $7,500 has convinced some Americans to trade in their gas guzzlers for electric autos. That tax break, however, doesn't last forever. Once an electric vehicle becomes... Read more →


We've got just more than three weeks before our 2018 tax returns are due, but most of us aren't in any hurry to complete this task. Through March 15, the Internal Revenue Service reports that it has received almost 76 million 2018 tax year returns. That's 2.5 percent fewer than this point in last year's filing season. In fact, the IRS latest filing season data shows that 9 of 12 tracked areas are still slightly behind last year's pace. Only visits to IRS.gov, tax returns directly e-filed by taxpayers and directly deposited refunds are up over 2018 numbers by 11.2... Read more →


The Patient Protection and Affordable Care Act became law on March 23, 2010. During the almost nine years since President Barack Obama signed the health care bill, which usually is shortened to the Affordable Care Act (ACA) or Obamacare, opponents of the law have been working to repeal, maybe replace and definitely weaken it. Republicans succeeded in late 2017 in eliminating a key component of the ACA. Under the GOP's Tax Cuts and Jobs Act (TCJA), the ACA's individual health insurance mandate. This is the requirement that you obtain at least minimum essential coverage, or MEC, for yourself and dependents... Read more →


Photo by Kumar's Edit via Flickr I've been married a long time. To the same guy. Marriage is not always easy and we don't even have a boss stirring up trouble between us. But we've made it through the tough times. And now as we patch things up when we do have our differences, we joke that we're staying together because it would be a bigger hassle to divorce. Sometimes, though, couples can't work through their troubles and decide to officially end their marriages. When that happens, among all the other issues, there are tax matters to consider. Here are... Read more →