The state says the IRS backed out of federal tax exemption for payments intended to help 880,000 Mainers cope with high energy costs last winter.
taxes
Posted inBusiness, Local & State
Pollute less, profit more: How Maine industry is rewarded for cutting down emissions and wastewater
A state tax exemption benefits industrial companies for cutting down on pollution but also draws millions of dollars away from small-town tax revenue, and never expires.
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Posted inNation & World, News
IRS plans limited rollout of free e-file tax return system with invitations to select taxpayers
The introduction of a government-run option could upend the industry and fundamentally change the way taxpayers interact with the IRS.
Posted inOp-Eds, Opinion
Commentary: Trump’s second-term agenda must not get lost in the noise
Anyone who isn’t a true believer in the former president’s authoritarian vision should be terrified.
Posted inBusiness
IRS plans to crack down on 1,600 millionaires to collect millions of dollars in back taxes
A team of academic economists and IRS researchers in 2021 found that the top 1% of U.S. income earners fail to report more than 20% of their earnings to the IRS.
Posted inKennebec Journal, Local & State, News, Uncategorized
Augusta tax bills being mailed late
With the first installment of property tax payments due Sept. 14, Augusta taxpayers still have not received their bills in the mail.
Posted inNews
Jay approves settlement agreement with paper mill owners over tax abatement request
The Select Board voted unanimously Friday to accept a settlement agreement with Pixelle Specialty Solutions for a tax abatement of $12.2 million in valuation and $250,100 in tax dollars.
Posted inMaine Voices, Opinion
Maine Voices: The real reason people are packing up and leaving blue states
The initiatives of the progressive left sound good – until the bill comes due.
Posted inBusiness, Nation & World, News
IRS steps toward new free-file tax return system have both supporters, critics mobilizing
And advocates for a free program to help file taxes are exponentially out-monied.
Posted inBusiness, Nation & World, News
IRS says it collected $38 million from more than 175 high-income tax delinquents
Federal tax collector’s enhanced ability to identify tax delinquents comes from resources provided by the Inflation Reduction Act.