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Man Skips Holiday Reunion Because Of Insane Tax Code

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Plenty of obstacles come between people and their families on the holidays: Illness, politics, work.

For Mark Klein, the obstacle was taxes. . .

Klein, a tax lawyer at Hodgson Russ, lives in Buffalo, New York. He “keeps track of the number of days he spends in Manhattan through an app on his phone, meticulously ensuring he does not surpass 183 days — the threshold at which individuals are required to pay city taxes,” the Financial Times writes. A holiday trip would’ve put him over that threshold.

Klein advises “some of the country’s wealthiest residents.” He reportedly told the Financial Times that “some of his clients fly into New Jersey and wait on one side of the George Washington Bridge, which connects to New York, until just after midnight to avoid triggering another day in the state.”

Christian Burgos, the director of tax services at Pollack and Brant, offered some unpleasant truth.

“If you’re not careful with how much time you’re spending in a particular jurisdiction throughout the year, once you’re reaching the latter half of the tax year you really have to be more mindful,” Burgos told the outlet. “There might be birthdays or family events that you have to skip out on. Otherwise, you’re going to trip that wire.” (Read more from “Man Skips Holiday Reunion Because Of Insane Tax Code” HERE)

Photo credit: Flickr

Jackson-Hewitt Tax Services Allegedly Caught Handing Out Tax Filing Instructions to Illegal Aliens

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With Tax Day a little more than two weeks away, Jackson-Hewitt Tax Services has been caught handing out flyers in New York City allegedly advising illegal migrants on how to get up to $14,000 in tax refunds from the IRS.

According to independent journalist Savanah Hernandez, the company’s representatives are handing out information outside the Roosevelt Hotel migrant shelter with tax filing tips showing illegal aliens how they can get thousands of dollars from the IRS based on how many children they claim to have.

Hernandez presented a flyer that seems to inform the migrants that they can get a $7,650 refund if they claim one child, $12,635 if they have two, and $14,255 for three children.

After Hernandez posted this video to X, Department of Government Efficiency (DOGE) chief Elon Musk noted that this sort of fraud is costing America billions and serving to attract illegals to this country.

“IRS refund fraud payments are one of several means used by the Democratic Party to attract and retain illegal immigrants in the USA. That’s why they are so opposed to @DOGE stopping this!” Musk wrote.

(Read more from “Jackson-Hewitt Tax Services Allegedly Caught Handing Out Tax Filing Instructions to Illegal Aliens” HERE)

Trump Reported Losing Nearly $1B Over 2 Years on Tax Returns: Accountant Testifies

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Former President Donald Trump reported losses on his tax returns each year for a decade – including close to $1 billion in a two-year span alone, his onetime accountant testified at trial this week.

Donald Bender, a partner at accounting firm Mazars USA, took the stand in Manhattan Supreme Court Tuesday as part of the criminal tax fraud case against the Trump Organization.

From 2009 to 2018, Bender said he filed 76-year-old Trump’s taxes and “There are losses for all these years.”

Bender – who was called as the first defense witness and was given immunity for testifying before a grand jury – admitted upon questioning from prosecutors that in 2009 and 2010 alone Trump reported losing close to $1 billion. (Read more from “Trump Reported Losing Nearly $1B Over 2 Years on Tax Returns: Accountant Testifies” HERE)

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Massive $1.48 Trillion Tax Hike in Build Back Better Not Enough to Pay For Biden’s Radical Agenda

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The tax hikes President Joe Biden’s Build Back Better social program spending bill would raise nearly $1.48 trillion in new tax revenue, according to the Joint Committee on Taxation.

Despite the massive tax hike, the new revenue still falls short of the $1.75 trillion spending increase House Democrats have packed into the legislation to fund the Biden agenda of new cradle to grave social programs and green new deal schemes.

Representative Richard Neal (D-MA), the chairman of the House Ways and Means Committee, has said the package would be “fully paid for” with taxes and other offsets. Centrist Democrats have said they want to see analyses from the Joint Committee on Taxation (JCT) and the Congressional Budget Office before voting on the legislation. (Read more from “Massive $1.48 Trillion Tax Hike in Build Back Better Not Enough to Pay For Biden’s Radical Agenda” HERE)

Photo credit: https://www.flickr.com/photos/96739999@N05/28153945488

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Joe Biden Breaks Pledge: Raises Taxes on Americans Earnings Over $50K

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The Democrats’ $3.5 trillion infrastructure bill would break President Joe Biden’s pledge not to increase taxes on working-class Americans.

The Joint Committee on Taxation (JCT) found that the House Ways and Means Committee’s portion of the $3.5 trillion infrastructure bill would increase taxes on Americans making over $50,000 or more per year in the calendar year 2031, according to a Joint Committee on Taxation (JCT) report.

The JCT’s analysis of the infrastructure bill would serve as a significant break from Biden’s promise not to raise taxes on Americans making less than $400,000 per year.

“The President remains committed to his pledge from the campaign that nobody making under $400,000 a year will have their taxes increased,” White House press secretary Jen Psaki said in March. Psaki clarified that this figure applies to families, not individuals, but the infrastructure plan would still raise taxes on most Americans.

The JCT analysis even found that the proposal would increase taxes on Americans in calendar year 2027 for those making between $30,000 to $40,000 per year.

(Read more from “Tony Blinken Confirms Child Brides Evacuated With Older Men From Afghanistan” HERE)

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Trump Officials Feel ‘Betrayed’ After Getting Slapped With Thousands in Unexpected Back Taxes

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Former Trump administration officials feel shocked and betrayed after discovering they owe the federal government thousands of dollars in unpaid taxes.

More than a dozen former officials say they had not received any warning prior that they would be responsible for paying back the government in full, with bills ranging from just under $1,100 in some cases to just over $1,500 in others.

The Washington Examiner conducted interviews on the subject with individuals who, in 2020, worked at the White House or a number of executive branch agencies, including the departments of Agriculture, Defense, Homeland Security, Housing and Urban Development, Treasury, and the Small Business Administration. Some officials received notices directly from the Office of the Administration within the White House, while others were alerted by the agencies they previously worked for, claiming they must pay upward of $1,000 within 30 days of the post-marked date. The earliest date an official who spoke with the Washington Examiner was notified of the back taxes was in the first week of April, while the latest was on May 18. The notices were distributed both by mail and email.

A spokesman for the National Finance Center, an agency within the Department of Agriculture that handles payroll for the federal government, told the Washington Examiner that former Trump administration employees received 13 “written communications” regarding their future tax burden, six of which were sent prior to the end of President Donald Trump’s term on Jan. 20, 2021. (Read more from “Trump Officials Feel ‘Betrayed’ After Getting Slapped With Thousands in Unexpected Back Taxes” HERE)

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Biden Taxes: $2,000 per Family and 40-Cents a Gallon

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Grover Norquist has seen the coming onslaught of Democratic taxes and regulations before. And despite the likely hit it will have on the economy, personal incomes, and 401(k) retirement portfolios, he sees a potential upside that could stall or reverse the effects.

“Joe Biden is doing exactly what [Bill] Clinton did to lose the House and Senate and exactly what Obama did to lose the House,” said the president of Americans for Tax Reform. “Massive tax hikes, massive spending, and then poking on the other issues,” he explained.

And, he said, while former President Donald Trump also suffered midterm election defeats, any losses in the 2022 midterm elections will be because of the public’s rejection of liberal policies, not presidential tweets and nonstop investigations. . .

In an interview at his downtown Washington office, Norquist mocked Biden’s campaign promise not to raise taxes for people earning $400,000 or less.

“He has no intention of keeping it because he also says he’s going to repeal the entire Trump tax cut, which for a median-income family of four that earned $73,000 a year, that’s a $2,000 tax increase,” he said. (Read more from “Biden Taxes: $2,000 per Family and 40-Cents a Gallon” HERE)

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Biden’s Ridiculous Plan Would Tax Wealthy Estates as Much as 67%

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Joe Biden would tax the estates of wealthy individuals at a rate as high as 67%, according to an analysis by the Tax Foundation, a nonpartisan think tank that examines the tax code.

That high rate is a combination of Biden’s plans for raising the capital gains and estate taxes for people who earned over $1 million annually before death.

Under Biden’s plan, unrealized capital gains would be taxed at 43.3% at death. That rate includes taxing those gains at ordinary income tax rates, which would be raised to 39.6% under the former vice president’s plan. It also includes a net investment income tax of 3.8%.

Biden would also lower the exemption for the estate tax to $3.5 million and raise the rate to 45%. Today, the exemption is set at over $11 million for individuals, and the rate is 40%. (Read more from “Biden’s Ridiculous Plan Would Tax Wealthy Estates as Much as 67%” HERE)

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President Trump Hints at ‘Major Middle Income Tax Cut’ With One Condition

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President Donald Trump hinted Saturday that additional tax cuts are in the future for tens of millions of Americans.

However, the president said the “major middle income tax cut” would only become reality if Republicans retain control of the Senate and retake control of the House in 2020.

“If Republicans take back the House, and keep the Senate and Presidency, one of our first acts will be to approve a major middle income Tax Cut!” Trump said. “Democrats only want to raise your taxes!”

. . .

Larry Kudlow, the top White House economic adviser, said this week that Trump could propose new tax cuts before the 2020 presidential election that would additional economic relief for individuals and small businesses.

“The personal tax rates could easily be lowered, and probably the brackets could be shrunk. That’s a thought,” Kudlow said. “We might even kind of work through a way to help our friends in some of the states who are concerned about the shrinkage of the tax deductions there … the SALT taxes.” (Read more from “President Trump Hints at ‘Major Middle Income Tax Cut’ With One Condition” HERE)

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Narrative-Busting Data: Every Income Group Got a Tax Cut in 2018…Except Millionaires

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As data continues to pour in, the facts are once again affirming what many of us have known for quite some time: The GOP-passed tax reform law, which was opposed by every single Democrat in Congress, has reduced taxes for a lopsided supermajority of Americans. Despite a torrent of disinformation and false messaging from the collective Left, the overwhelming majority of US taxpayers saw their federal tax burden reduced in 2018. Even the New York Times fact-checked this claim and found the Democratic mantra to be inaccurate. Now, based on the latest available numbers from the IRS, the nonpartisan Tax Foundation confirms that the Left’s deceitful talking points aren’t just misleading — they’re actually the opposite of the truth:

Critics of the TCJA have claimed that the law’s tax cuts only benefit high-income individuals and businesses. However, the visual below shows that total tax liability fell for all income groups except those earning over $1 million in 2018…The initial data shows that the TCJA expanded the use of several credits and deductions, made the standard deduction more favorable than itemizing, reduced tax refunds, and lowered taxes for most Americans.

In every single group, the green bar is lower than the blue bar, including for working and middle-class Americans. Only the super rich, those making more than $1 million annually, have seen a very slight increase, on average. Compare that to the rhetoric surrounding the law. The gap between the political spin and the actual results is staggering. As many supporters of the law pointed out during the public debate, the reason this law would benefit so many Americans was that it doubles the standard deduction, which was already being used by a large majority of filers. As expected, the number of people choosing to take advantage of the increased standard deduction (as opposed to itemizing) has increased dramatically:

One of the most significant changes introduced by the TCJA was the expansion of the standard deduction. The standard deduction increased from $6,500 to $12,000 for single filers, and from $13,000 to $24,000 for those married filing jointly, in 2018. This change had a significant impact on the ease of filing for many taxpayers, as taking the standard deduction simplifies the tax filing process. As shown below, the percent of taxpayers who itemized went down at all income levels. Overall, the percentage of the population that itemizes decreased from 30 percent to 10 percent.

(Read more from “Narrative-Busting Data: Every Income Group Got a Tax Cut in 2018…Except Millionaires” HERE)

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