As I wrote to our representatives, if the Ohio Legislature won’t help cities make ends meet, we will be faced with having to reduce department staffing levels and curtail services or ask wage earners in the City to pay a higher income tax. I told them that I couldn’t ask our citizens...
The centerpiece of the Philadelphia tax system is the Philadelphia wage tax, which raised more than $1.6 billion in 2014. That tax has been challenged as unconstitutional in light of the Supreme Court's 2015 decision in Wynne v. Comptroller of Maryland, which struck down a structurally similar...
with bill and debt collectors calling them on a regular basis. Other people who come into our office are completely up to date on all their bills, but they always pay the minimum payment with the amount of their bills never getting smaller. The interest rates on their bills are high and ...
State and city taxes generated $1.1 billion in tax revenue. Each household in Greater Philadelphia would need to be taxed an additional $660 to replace the visitor-generated state and local taxes in 2024. Also, the visitor economy would cover the average salary of 17,600 public school teachers...
wage-earning Americans and business owners are often the targets of federal criminal tax investigations. Whether it be for failing to disclose a foreign bank account, failing to file a tax return, or over-deducting on business expenses, the IRS and Department of Justice will not hesitate to ...
some sentiment that the lower corporate tax rate could make tax credit investment less valuable and therefore dampen the volume of tax credit investment available from private industry. Some industry experts have estimated that this factor could result in a drop in production of affordable housing by...
Another important advantage to note is that when debt is discharged through bankruptcy, there are no tax consequences. If a creditor forgives your debt or accepts a partial payment in satisfaction of a larger liability, the amount forgiven is considered income for tax purposes. You will be requir...
STATE TAX RELIEF The Wolf administration said it’s easing up on tax enforcement during the pandemic. The Department of Revenue said it will pause payments on existing payment plans on request; offer flexible terms for new payment plans; suspend or reduce automatic enforcement of liens, wage garn...