By Megan Henney Published April 16, 2019 Election FOXBusiness Facebook Twitter Comments Print video Will Medicare-for-all hurt Democrats in 2020? Fox News contributor Robert Wolf discusses Sen. Bernie Sanders Medicare-for-all plan and Sen. Elizabeth Warren’s (D-Mass.) wealth tax. As the 2020 election race begins to heat up some of the biggest talking points and policy debates are now coming into focus after 18 Democrats filed to run for president with the Federal Election Commission. Continue Reading Below Some Democratic candidates have proposed ambitious, multi-billion dollar policies to expand social programs and overhaul the country’s infrastructure, and they hope to fund these by repealing President Trump’s 2017 tax cuts which dropped the corporate tax rate to 21 percent from 35 percent. Here’s a look at some of the policies Democratic candidates say they want to implement if elected and want to pay for by … [Read more...] about What 2020 Democrats want to fund by repealing Trump’s tax cuts
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Tax day is here; but what if you can’t file — or pay — your taxes on time?The IRS said Friday that even with just days to go until the deadline, about 50 million taxpayers had yet to file their tax returns. If you are among them, don’t despair — there are options.Don’t delay If you don’t think you will be able to complete and file your taxes on time, request an extension.Filing an extension helps taxpayers avoid penalties for a late return, according to the IRS. You can seek an extension through the IRS website, your tax preparation professional or most tax preparation software companies. While an extension provides more time to file, it does not provide more time to pay any taxes owed.The deadline to file individual tax returns and pay taxes owed is April 15 for most taxpayers. Because of area holidays, taxpayers who live in Maine or Massachusetts have until April 17.Check for exceptions Anyone can request an automatic tax-filing extension, … [Read more...] about Today is April 15. If you can’t file (or pay) taxes by midnight, here’s what to do.
Sarah Skidmore Sell, Ap Personal Finance Writer Updated 8:06 am CDT, Sunday, April 14, 2019 FILE- This Feb. 13, 2019, file photo shows multiple forms printed from the Internal Revenue Service web page that are used for 2018 U.S. federal tax returns in Zelienople, Pa. If you don’t think you will be able to complete and file your taxes on time, request an extension. Filing an extension helps taxpayers avoid penalties for a late return, according to the IRS. less FILE- This Feb. 13, 2019, file photo shows multiple forms printed from the Internal Revenue Service web page that are used for 2018 U.S. federal tax returns in Zelienople, Pa. If you don’t think you will be ... more Photo: Keith Srakocic, AP Photo: Keith Srakocic, AP Image 1 of / 1 Caption Close Image 1 of 1 … [Read more...] about Can’t file (or pay) taxes on time?
Tina Orem, NerdWallet Published 12:32 pm PDT, Thursday, April 11, 2019 This article was first published on NerdWallet.com. If you owe a lot of money to the IRS, you probably shouldn’t make overseas travel plans anytime soon: That unpaid tax bill could prompt the State Department to revoke your passport or reject your application for a new one. But before you start unpacking your suitcase, here are three things tax pros say you should know if you want to keep your tax debt from sending your passport on the wrong kind of vacation. 1. Communicate with the tower Things have to be pretty bad for the IRS to come after your passport, says Eli Noff, a tax attorney and certified public accountant at Frost & Associates in Annapolis, Maryland. First, your overdue tax bill has to be more than $52,000, including interest and penalties. Second, the bill has to be “seriously delinquent” — that is, the IRS is basically at the end of its rope with you … [Read more...] about Late on Your Taxes? Your Vacation Plans May Get Grounded
WASHINGTON — Sen. Elizabeth Warren of Massachusetts, a Democratic candidate for president, is expected to unveil a plan that would impose a new annual tax on the 75,000 wealthiest families in the United States. Her plan is the latest sign of how Democrats, with an eye toward 2020, are looking to tax the rich to pay for expanded social programs and distribute wealth more evenly. In recent weeks, other Democrats have called for increasing marginal income tax rates for the very rich, including freshman Rep. Alexandria Ocasio-Cortez, D-N.Y., who has proposed a 70 percent top rate on income exceeding $10 million a year. Warren’s so-called ultramillionaire tax would levy a 2 percent annual tax on all assets — including stocks, real estate and retirement funds, held either in the United States or abroad — owned by households with a net worth of $50 million or more. It would add an additional 1 percent “billionaire surtax” on households with net worth … [Read more...] about Elizabeth Warren is proposing a wealth tax on ‘ultra-millionaires’