House Democrats push for repeal of rule blocking SALT cap workaround

Rep. Tom Suozzi, DN.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the US Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Three House Democrats are still pushing for relief on the $ 10,000 limit on federal deduction for state and local taxes, known as … Read more

House Democrats push for SALT relief in appropriations bill

Rep. Tom Suozzi, DN.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the US Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images Despite roadblocks, five House Democrats are still fighting for relief on the $ 10,000 limit on federal deduction for state and local taxes, … Read more

Tying the knot this year? Add ‘marriage tax penalty’ to potential cost

Gorodenkoff | Istock | Getty Images If you’re happily saying “I do” this year, be aware that the IRS can be a real buzzkill. While many couples end up paying less in taxes after tying the knot, some face a “marriage penalty” – meaning they end up paying more than if they had remained unmarried … Read more

The IRS has sent more than 78 million refunds. How to check on yours

If you filed a last-minute tax return, you may see your 2021 refund faster than you’d expect. Nine out of 10 refunds have arrived within 21 days this season, according to the IRS. As of April 15, the agency has issued more than 78 million refunds worth over $ 242 billion in total, and the … Read more

There’s another sneaky tax deadline on April 18. How to avoid a penalty

Prathanchorruangsak | Istock | Getty Images With one week left to file your federal taxes, it’s easy to overlook another sneaky deadline: the due date for first-quarter estimated tax payments. If you have income from self-employment, a small business, gig economy work, investments and more, you must make a payment by April 18. You need … Read more

Cash-rich states are slashing taxes amid revenue windfalls

Anchiy | E + | Getty Images And this year, at least a dozen states have made cuts or are eyeing reductions, including both temporary and permanent measures, according to the Tax Foundation. While there have been some pushes for corporate or property tax relief, income taxes are “the heart of what’s going on,” said … Read more

What remote workers need to know about their 2021 taxes

Alistair Berg | DigitalVision | Getty Images Working from home – or any location away from the office – can come with some benefits. A simplified tax situation may not be one of them. If you worked remotely in 2021, it’s worth making sure you understand your state tax obligations this tax-filing season. Depending on … Read more