[ad_1] WASHINGTON, April 15 (Reuters) — U.S. President Joe Biden and his wife Jill on Monday released tax returns showing that their income rose 7% to $619,976 in 2023 and that the couple paid 23.7% of their income in federal taxes. Biden released the data on the day U.S. taxes for the prior year are due, and … Read more
[ad_1] WASHINGTON — Senate Republicans are inching closer to burying a bipartisan bill to expand the child tax credit and provide breaks for businesses, issuing a series of demands that would most likely disrupt the coalition that enabled it to pass the House. The $78 billion bill, negotiated by House Ways and Means Committee Chair … Read more
[ad_1] KANSAS CITY, Mo. — The future of the Royals and Chiefs in Kansas City was thrown into question Tuesday night when residents of Jackson County, Missouri, resoundingly voted down a sales tax measure that would help to fund a new downtown ballpark along with major renovations to Arrowhead Stadium. Royals owner John Sherman and … Read more
[ad_1] The judge overseeing the federal tax case against Hunter Biden denied a series of motions by the president’s son to dismiss the tax charges against him. In an 82-page order, U.S. District Judge Mark Scarsi rejected all eight motions filed by Biden’s legal team, which relied on various legal arguments in asking him to … Read more
[ad_1] “The maximum financial impact is to the extent of the penalty levied. The company does not agree with the order and will take appropriate action(s) for the same,” the filing noted. Bharti Airtel Group firm Telesonic Networks has been penalised for alleged irregularity in claiming input tax credit, according to a regulatory filing. … Read more
[ad_1] IE 11 is not supported. For an optimal experience visit our site on another browser. Supreme Court may rely on ‘procedural punt’ in abortion pill case, says legal expert 04:55 Johnson needs to compromise with Democrats to retain speakership, Rep. Quigley says 08:05 Netanyahu canceling high-level meeting is ‘political response’ to UN vote, says … Read more
[ad_1] Hunter Biden is expected to ask a judge at a hearing Wednesday to dismiss tax charges filed against him last year, arguing that the case is politically motivated. Biden alleges prosecutors caved to pressure from Republican lawmakers, who launched an impeachment inquiry into his father, President Joe Biden, after an earlier plea deal fell … Read more
[ad_1] The CBDT circular also clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed by the CBDT. Representative Picture The CBDT has permitted income tax authorities to file appeals irrespective of monetary threshold in cases relating to TDS/TCS, undisclosed foreign income, or … Read more
[ad_1] In case you need another reason to shout “tax the rich” from the rooftops, it’s here, and it’s going to make you angry. A study found that 35 major US companies paid their top five executives more than they paid in federal income taxes between 2018 and 2022, the Guardian reports. The findings, which … Read more
[ad_1] The income tax department on Sunday said it has started sending emails and SMSs to assessees whose taxes paid during the current fiscal are not commensurate with financial transactions. The department is undertaking an e-campaign, which aims to inform such persons/entities of significant financial transactions, through email (marked as Advance Tax e-Campaign-Significant … Read more