February 10, 2025
Tax

GFPS, County adjusting taxable values after Calumet revision; tax bills delayed

The Montana Department of Revenue notified Cascade County, Great Falls Public Schools, Great Falls Transit and the City of Great Falls officials on Oct. 25 of their revised certified taxable value due to an “industrial appeal settlement.” The adjustment appears to be related to the department’s recent request for clarification of Calumet’s tax abatement approved

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Tax

G20 communiqué analysis Annual Meetings 2024: progress on tax and inequality obscures Group’s wider failures

Summary The Group of Twenty (G20) is an informal forum in which the world’s major economies discuss global financial and development issues. The G20 is made up of 19 countries, the European Union and since 2023, the African Union. The 19 countries are Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico,

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Tax

Do You Have to Report Child Support on Your Taxes?

Whether you’re recently divorced or have a longstanding child support agreement, when tax season arrives in January, you might have questions about how to report or claim child support payments.  Child support is considered tax-neutral and isn’t taxed by the IRS. “Child support payments are not considered taxable income for the recipient, nor are they deductible

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Tax

Tory group defends low council tax policy

Getty Images A new report into the council’s finances found it is on the brink of effective bankruptcy Former Conservative council leaders in Windsor and Maidenhead have defended their decision to cut council tax after warnings it left the Royal Borough at risk of bankruptcy. A new report into the council’s finances found it is

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Tax

How American Tax Breaks Brought a Chinese Solar Energy Giant to Ohio

(Bloomberg) — Nestled among the corn fields of Pataskala, Ohio, Illuminate USA’s sprawling new solar factory is buzzing. Hundreds of freshly hired local employees are hoisting pallets, soldering equipment and inspecting their work as sheets of glass are transformed into state-of-the-art photovoltaic panels. They’re collecting hourly wages that start at double the state minimum. The

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Tax

Ballot measure 1A would allow Colorado’s Jefferson County to keep $30 million in tax revenue it knowingly overcollected

For the third time in five years, Jefferson County is asking voters to permanently remove caps that limit how much tax revenue the Colorado county can keep and spend, including a new cap just put in place by the state legislature two months ago. CBS “We would be the first in Colorado to have no

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Tax

Gov. Landry’s tax overhaul depends on swapping income for expanded sales taxes • Louisiana Illuminator

A special legislative session Gov. Jeff Landry has called for next month is built around his proposed tax overhaul that could significantly reduce income taxes for virtually everyone in Louisiana and eventually increase how much money the state can access to spend over the next five years, according to early projections from the Legislative Fiscal

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Tax

Property tax spikes compound Florida affordability crisis

Florida has 3 cities among the top 5 biggest hikes since 2019. If you have to ask, you can’t afford it. That old joke about luxury items may also apply to property tax bills, which are going up in three Florida metros like almost nowhere else in the country, per Redfin. In Jacksonville, property taxes

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Tax

Fintech Billionaire Fined By Regulator Over His Tax Disclosures

Wise cofounders Kristo Kaarmann and Taavet Hinrikus. (Courtesy of Wise) Kristo Kaarmann, the cofounder and CEO of money transfer firm Wise, was fined £350,000 ($453,970) for failing to inform the U.K.’s financial regulator of his personal tax issues. The Financial Conduct Authority (FCA) said Kaarmann did not notify the regulator of a “significant fine” he

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Tax

IRS extends tax deadlines for Hurricane Milton victims in Florida

Filing and payment relief for affected taxpayers in certain Florida counties. The IRS issued guidance granting relief to taxpayers affected by Hurricane Milton in Florida that began on Oct. 5, 2024. Taxpayers now have until May 1, 2025, to file various individual and business tax returns and make tax payments. The IRS is offering the

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