Latest National taxes News

Final valuation of Prince's estate pegged at $156.4 million

Jan. 15, 2022 17:15 PM EST

MINNEAPOLIS (AP) — The six-year legal battle over pop superstar Prince’s estate has ended, meaning the process of distributing the artist's wealth could begin next month. The Minneapolis Star Tribune reports that the Internal Revenue Service and the estate’s administrator,...

Ducey proposes earned-income tax credit in $14B budget plan

Jan. 14, 2022 19:07 PM EST

PHOENIX (AP) — Gov. Doug Ducey on Friday proposed a tax credit for Arizona's low-income workers, the first time in his eight years of pushing tax cuts that he pitched a benefit targeted at the bottom end of the income spectrum. In his final budget proposal before leaving office,...

GOP Ohio congressional delegation wants chip law funded

Jan. 14, 2022 16:52 PM EST

COLUMBUS, Ohio (AP) — GOP members of the Ohio congressional delegation Friday asked House and Senate leaders to fully fund a law meant to address a global shortage of semiconductor chips used in phones, cars and video games. The request comes as multiple media reports say Santa...

Goodbye 'godsend': Expiration of child tax credits hits home

Jan. 14, 2022 15:12 PM EST

CHARLESTON, W.Va. (AP) — For the first time in half a year, families on Friday are going without a monthly deposit from the child tax credit — a program that was intended to be part of President Joe Biden's legacy but has emerged instead as a flash point over who is worthy of government...

Poland announces tax cuts meant to ease soaring inflation

Jan. 11, 2022 13:09 PM EST

WARSAW, Poland (AP) — Polish Prime Minister Mateusz Morawiecki on Tuesday announced a second round of sales tax cuts as part of the right-wing government’s efforts to fight inflation after it reached a 21-year high last month. Morawiecki blamed surging consumer prices on high...

Mississippi tax revenue jumps during 1st half of budget year

Jan. 10, 2022 16:04 PM EST

JACKSON, Miss. (AP) — Mississippi government collected more money during the first half of this budget year than it did during the same period a year earlier. With the robust collections, legislative leaders and Republican Gov. Tate Reeves say they want to approve some sort of tax...

Tax season begins two weeks early due to virus, IRS funding

Jan. 10, 2022 13:52 PM EST

WASHINGTON (AP) — This year's tax filing season will begin on Jan. 24, 17 days earlier than last year, the Internal Revenue Service announced Monday. The IRS is warning that a resurgence of COVID-19 infections on top of less funding authorization from Congress than the Biden...

Former New Mexico spaceport CFO alleges fraud, retaliation

Jan. 05, 2022 18:19 PM EST

ALBUQUERQUE, N.M. (AP) — The former chief financial officer for the New Mexico Spaceport Authority filed a whistleblower lawsuit alleging that he was forced to resign after raising concerns about financial malfeasance that he said cost taxpayers millions of dollars. Among numerous...

$3.5M in loans to help older Mainers pay property taxes

Jan. 05, 2022 16:22 PM EST

AUGUSTA, Maine (AP) — Maine will use $3.5 million in federal money to provide loans to help older residents pay property taxes, Gov. Janet Mills said Wednesday. Mills, a Democrat, said the loans will cover annual property tax bills for some residents who are unable to pay them and...

Wisconsin tax burden rises for first time in decade

Jan. 05, 2022 10:24 AM EST

MADISON, Wis. (AP) — Wisconsin's state tax burden increased slightly last year for the first time in a decade due largely to a pandemic-related economic surge, according to a report released Wednesday. The nonpartisan Wisconsin Policy Forum's study found total state and local taxes...