Tag

Tax Returns

All articles tagged with #tax returns

law3 days ago•3 min saved

Prominent Litigator Tom Goldstein Convicted on Majority of Counts in Maryland Tax Trial

Former U.S. Supreme Court litigator Tom Goldstein was found guilty on 12 of 16 counts after a six-week trial in Maryland, including tax evasion, willful failure to pay taxes for four years, three counts of making false statements on loan applications, and four counts of aiding in the preparation of false tax returns. He was acquitted on the remaining four counts. Maximum penalties include up to 30 years for each loan-statement count and substantial potential prison terms for other convictions; sentencing will follow for the jury verdict and potential asset-forfeit issues.

via Bloomberg Law News|

#false-statements #law #loan-application

politics1 month ago•13 min saved

Former President Sues IRS for $10 Billion Over Leaked Tax Records

Former president Donald Trump filed a $10 billion federal lawsuit against the Internal Revenue Service, alleging a leak of his confidential tax information and seeking damages and reforms.

via AP News|

#irs #lawsuit #note-top5tags-should-be-five-items-i-included-six-please-ignore-the-extra-item

politics1 month ago•4 min saved

Trump Sues IRS and Treasury Over Tax-Return Leaks, Demands $10 Billion

Trump has filed a federal Miami lawsuit seeking at least $10 billion from the IRS and Treasury, alleging an IRS contractor leaked his and his sons’ and the Trump Organization’s tax returns to media in 2020, causing reputational and financial harm; the suit cites the contractor’s 2024 conviction and notes ongoing litigation as part of Trump’s broader series of lawsuits.

via CBS News|

#irs #lawsuit #politics

politics1 month ago•2 min saved

Trump Sues IRS and Treasury for $10 Billion Over Tax-Return Leaks

Donald Trump, his sons and the Trump Organization filed a $10 billion lawsuit in a Miami federal court against the U.S. Treasury and the Internal Revenue Service, alleging they failed to prevent leaks of his and related tax returns by former IRS contractor Charles Littlejohn to media outlets such as the New York Times and ProPublica, causing reputational and financial harm and potentially seeking punitive damages; Littlejohn has pleaded guilty and was sentenced to five years in prison, and Trump has pursued other lawsuits against media outlets in recent years.

via The Guardian|

#irs #leaks #politics

politics1 month ago•454 min saved

Trump files $10B lawsuit against IRS and Treasury over tax-return leak

Former President Donald Trump and his sons filed a federal lawsuit in Florida seeking at least $10 billion against the IRS and Treasury, alleging confidential tax-return information was illegally leaked to media outlets by a Booz Allen Hamilton contractor and that government safeguards failed during his first term; the suit notes the contractor, Charles Littlejohn, was previously convicted, and mentions Booz Allen’s contract termination and other context around past tax-return disclosures.

via CNN|

#booz-allen-hamilton #florida-court #irs

economy1 month ago•15 min saved

2026 tax season reshapes refunds with new deductions and filing options

The IRS opens tax season with sweeping changes from the One, Big, Beautiful Bill Act, including new deductions for seniors, tips, and overtime; temporarily higher SALT limits and revised 2026 standard deductions; plus new filing options like IRS Free File and Free File Fillable Forms; refunds typically arrive within about 21 days for e-filed returns, with an April 15 deadline and about 164 million returns expected.

via Axios|

#deductions #economy #irs

law1 year ago•1 min saved

Judge Criticizes Giuliani's Asset Delay Amid Legal Battles

A federal judge has allowed Georgia poll workers Ruby Freeman and Shay Moss to investigate Rudy Giuliani's claim that he gifted his Yankees World Series rings to his son, as part of their $148 million defamation judgment against him. The judge's order permits them to subpoena Giuliani's accounting firm for tax returns to verify the legitimacy of the gift. The rings are valued at over $200,000, and the judge has warned Giuliani of potential contempt proceedings if he fails to comply with property turnover requirements.

via ABC News|

#defamation #georgia-poll-workers #law

personal-finance1 year ago•2 min saved

"Biden and Harris 2023 Tax Returns: Key Takeaways for Everyday Taxpayers"

President Joe Biden and Vice President Kamala Harris released their 2023 tax returns, showing lessons for average Americans, including the impact of interest income, self-employment tax planning, and the importance of working with a tax professional for those with complex financial situations. The Bidens and the Harrises both earned most of their income from salaries, with interest income causing small estimated tax penalties. The Bidens reduced self-employment taxes through their S corporations, while taxpayers with self-employment income should consider the impact on future Social Security benefits. Working with a tax professional is recommended for higher earners with complex financial situations.

via CNBC|

#income-tax #joe-biden #kamala-harris

politics1 year ago•2 min saved

"Biden's 2023 Tax Returns Show $620,000 Income and 23.7% Federal Tax Rate"

President Biden and first lady Jill Biden released their 2023 tax returns, highlighting a federal adjusted gross income of $619,976 and emphasizing their commitment to transparency. This move is seen as a contrast to former president Donald Trump, who did not release his tax returns. Biden plans to use tax day to underscore differences in economic policies between himself and Trump, with a focus on benefiting the middle class. The released returns also show the Bidens' charitable contributions, while Vice President Harris and second gentleman Doug Emhoff reported a federal adjusted gross income of $450,299 and made charitable donations as well.

via The Washington Post|

#2024-election #biden #contrast

politics1 year ago•2 min saved

Bidens' 2023 Tax Returns: $620,000 Income and Contrasts with Trump

President Joe Biden and his wife reported a 7% increase in income to $619,976 for 2023, paying 23.7% in federal taxes, with most of their earnings coming from their jobs and additional income from investments and book royalties. Biden plans to deliver a speech on tax policy, advocating for higher rates for the wealthy. The couple donated $20,477 to charity, while Vice President Kamala Harris and her husband reported $450,380 in income, $88,570 in federal taxes, and $23,026 in charitable donations for 2023.

via NBC News|

#charitable-donations #income #joe-biden

politics1 year ago•2 min saved

Bidens Paid $147,140 in Federal Income Taxes on $620,000 Income in 2023

President Biden and first lady Jill Biden paid $146,629 in federal income taxes in 2023, with an effective federal tax rate of 23.7%, after reporting income of $619,976. This marks the 26th year that Biden has released federal tax returns. The Bidens' joint income in 2023 was slightly more than in 2022, with Jill Biden earning $85,985 from teaching and reporting $4,115 in royalties from prior book publications. They also made charitable contributions totaling $20,477 to 17 charities, including $5,000 to the Beau Biden Foundation. Meanwhile, Vice President Kamala Harris and second gentleman Doug Emhoff reported paying $88,570 in federal income tax in 2023, with an effective federal tax rate of 19.7%, after earning income of $450,299. Former President Donald Trump has not released his latest federal tax returns.

via USA TODAY|

#federal-taxes #income #politics

politics1 year ago•2 min saved

Bidens' 2023 Tax Return Reveals $620,000 Income

President Joe Biden and first lady Dr. Jill Biden released their joint tax return, revealing an income of $619,976 in 2023, with the bulk coming from President Biden's $400,000 salary and pensions. They paid $146,629 in federal income tax and made charitable contributions, including $5,000 to the Beau Biden Foundation. Vice President Kamala Harris and second gentleman Doug Emhoff made $450,299, paid $88,570 in federal income tax, and donated to various charities. The release continues the tradition of transparency in the White House, in contrast to former President Donald Trump's refusal to voluntarily release his tax returns.

via CNN|

#biden #income #politics

politics1 year ago•7 min saved

"Unveiling Trump's Enigmatic Sources of Income and Recent Setbacks"

Former President Donald Trump's post-presidency tax returns are unlikely to be disclosed soon, as he has shown no interest in voluntarily releasing them and Democrats have not shown a willingness to pursue them further. Facing mounting legal bills, Trump has resorted to selling various items to support himself, and recent hard data on his income only goes back to 2020. Despite claiming to have ample funds, Trump's financial situation is under scrutiny as he faces multiple legal battles and the need to raise significant amounts of cash for bonds. The ongoing lack of transparency regarding his income and taxes has raised concerns about potential foreign influence and the public's ability to evaluate candidates.

via HuffPost|

#democrats #donald-trump #income

taxation1 year ago•5 min saved

"Free Online Tax Filing Now Available in 12 States: What You Need to Know"

The IRS has officially launched the Direct File pilot in 12 states, allowing eligible taxpayers to file their tax returns online for free directly with the IRS. The pilot, which has received positive early reviews, is open to taxpayers with relatively straightforward tax situations, and users can receive support through a live chat feature. Taxpayers in the pilot states can use Direct File through the April tax deadline, and those with state-income tax will be guided to a state-sponsored tool to complete their state tax return. The IRS encourages eligible taxpayers to try this innovative new option before the April 15 deadline.

via IRS|

#direct-file #irs #online-filing

finance2 years ago•2 min saved

"IRS Expands Free Tax Filing Program Nationwide: What Taxpayers Need to Know"

The IRS reports a 9.7% increase in the use of its Free File guided tax software for the 2024 filing season, with 943,000 taxpayers submitting returns through the program. Refunds totaling $92.9 billion have been sent out, with an average payment of $3,213. The agency is also launching a pilot scheme called Direct File, providing a free tax payment system for eligible American workers. Additionally, the IRS is cracking down on high-earners who have failed to file tax returns, identifying 125,000 suspected cases of non-compliance among those earning over $400,000 annually.

via Newsweek|

#finance #free-file #irs