Sentences with phrase «federal tax bill hits»
Not exact matches
In 2000 the League was hit with a $ 525,830 federal tax lien, interest and penalties adding onto the bill.
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Long Island is No. 1 on a list of the top 10 metro areas in the US with the greatest share of homeowners who pay $ 10,000 or more in property taxes annually, and thus would be hit hardest by the federal tax bill.
Last Wednesday, Rep. Peter King (R - Seaford) said the proposal would be a «direct hit to the Long Island economy,» and Rep. Lee Zeldin (R - Shirley) said it was «imperative that our local residents aren't subject to double and triple taxation and retain the ability to deduct local taxes and reduce their federal tax bill.»
An affluent suburb of New York City could be among the hardest hit under the proposed federal tax bill.
Under the new tax code, taxpayers will no longer be able to deduct state and local taxes from their federal bill once they hit a $ 10,000 threshold.
After all, federal tax rates rose in 2013, and anyone withdrawing funds from a traditional IRA would have been hit with a steeper - than - expected tax bill.