Not just payments for children: families may be eligible for another type of tax incentive

This summer, the increased child tax credit caught the attention of the whole country as millions of families began receiving payments. But Congress also increased this year's lesser-known benefits for working families: the Child and Dependent Care Tax Credits. More detailed ...

Biden wants to introduce a 'death tax': what is it and who will affect

US President Joe Biden wants to change how a person's assets are taxed when they are passed on to heirs to stop exacerbating inequality and create a fairer system. Writes about this AS. The name "death tax" is used instead of inheritance tax by those who wish to abolish ...

Tax holidays in the USA: when and in which states you can save on purchases

The new school year is approaching, and the thought of stocking up on fresh notebooks, pencils, and folders is both exciting and scary. All these school supplies, electronics and new clothes tend to be very expensive. Unless, of course, you can buy everything you need ...

Internet tax: subscriptions to Netflix and Amazon may rise in Ukraine

The Parliament of Ukraine adopted a law providing for the levy of value added tax (VAT) on services provided to Ukrainians by international Internet giants not registered in Ukraine. Writes about this BBC. Ukrainian media call it the law on "tax on Google", but in fact it ...

If you make a gift in the United States, you must pay a gift tax: rates and conditions

Did you know that if you give someone too much money, you may have to pay tax on that gift? Most taxpayers are not familiar with the concept of gift tax that the government levies on transfers of money or other assets from one ...

A new tax will appear in California: who will it affect

San Francisco voters have approved a new tax that will target businesses with the most disproportionately high-paid executives. The details of the innovation were reported by the Mercury News edition. The adoption of such a measure was approved by 65,18% of voters, making San Francisco the first city in the United States to move to taxation as a private ...

Several states plan to raise taxes to tackle coronavirus crisis

State and local governments, struggling to raise money during the economic crisis caused by the COVID-19 pandemic, are steadfast in their push to raise taxes to fill budget holes. Writes about this Fox Business. It is proposed that in California, wealthy residents of the state ...

Why Unemployed Americans May Become Indebted to the IRS Next Year

Millions of Americans have lost their jobs during the COVID-19 pandemic, and many claiming unemployment benefits could face an unexpected tax bill next year. Writes about this Fox Business. The IRS requires people to report benefit income ...

Which state residents pay the most and least of all local taxes

When it comes time to pay tax, all Americans are in the same boat. But the tax amount is not the same in all states. Although the bulk of taxes for a given year are collected by the federal government, there is still a large proportion of taxes that are paid differently in different ...

26 things to do now if you want to file a tax return on time

Taxes are a frustrating fact of life for most people, but planning ahead can make the task a little easier. Tax professionals and other financial experts have compiled a list of everything that needs to be done now in order to have time to file a return without any problems by April 15th. About it…

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