All articles tagged with #tax payments
Originally Published 4 months ago — by Daily Kos
The author anticipates that the Treasury may face a financial shock this month due to lower-than-expected tax payments, especially affecting seniors, and questions whether the Treasury is prepared for this situation.
Originally Published 1 year ago — by NPR
The U.S. Virgin Islands and Puerto Rico are engaged in a billion-dollar conflict known as The Rum Wars, stemming from a law that requires federal taxes on rum sold in the U.S. to be sent to these territories. In 2008, the U.S. Virgin Islands convinced Captain Morgan to move its operations from Puerto Rico to St. Croix, sparking bitter rivalry. This scheme, intended to benefit the territories, has instead funneled hundreds of millions of U.S. taxpayer dollars into the pockets of big liquor companies.
Originally Published 1 year ago — by Los Angeles Times
When rolling over a 401(k) into an IRA, it's important to understand the tax implications and opt for a direct rollover to avoid taxes. Paying online fees, particularly for insurance bills, can be frustrating, but setting up automatic payments or using online bill pay through your bank may offer alternatives. Additionally, establishing accounts with the IRS and state tax authority can simplify tax payments and provide access to payment history and other important information.
Originally Published 2 years ago — by CBS Sports
The Los Angeles Clippers waived guard Eric Gordon to save money, reducing their projected tax bill from $169 million to $59 million. With Gordon's contract on the books, they would have exceeded the tax threshold, resulting in significantly higher tax rates. By removing Gordon's salary, the Clippers are now only $18 million over the tax threshold, potentially saving them over $130 million next season. This move allows them to potentially add salary elsewhere and get under the "second apron" set at $17.5 million above the tax level.