Sentences with phrase «income taxpayers since»

The program has helped nearly 50 million low - to moderate - income taxpayers since 1968 and is available to anyone 50 and older who can't afford a tax preparation service.

Not exact matches

Since almost all wage income is subject to withholding already, these taxpayers could more easily be shifted into a return - free system than the rest of the filing population.

Since 2007, around 80,000 California taxpayers each year have paid state income taxes this way under a program called ReadyReturn.

Since the 2010 tax year, there is no income limit for taxpayers who wish to convert a Traditional IRA to a Roth IRA.

Despite his six - figure income funded by taxpayer dollars, Terry has since 2000 amassed nearly $ 1.2 million in federal liens from the Internal Revenue Service and more than $ 205,000 in state tax warrants.

Since 2014, Trinity Christian has received more than $ 1.2 million in taxpayer funds through the Opportunity Scholarships Program, which provides low - income families money to attend private schools.

167 — amount in dollars of the average total state tax cut for middle income taxpayers in North Carolina since 2013 (Ibid)

Without this rule (the «interest disallowance rule»), taxpayers would realize a double tax benefit from using borrowed funds to purchase or carry tax - exempt bonds, since the interest expense would be deductible, while the interest income would escape federal tax.

The effect of this rule is that a taxpayer who purchases a tax - exempt bond subsequent to its original issuance at a price less than its stated redemption price at maturity (or, if issued with OID, at a price less than its accreted value), either because interest rates have risen or the obligor's credit has declined since the bond was issued, and who thereafter recognizes gain on the disposition of such bond will have part or all of the «gain» treated as ordinary income.

However, it may be more beneficial to use Form 1040 or Form 1040A, since those forms allow taxpayers to claim «head of household» status (which typically results in a lower tax than filing as «single»), dependents, and various credits and adjustments to income.

Since the IRS collects only on an individual's taxable income, taxpayers can cut their tax bills by lowering their taxable income through the mechanism of a tax deduction.

Since many states also similarly limit itemized deductions for high - income taxpayers, Carole's state tax agency could slap her around as well.

If one spouse doesn't work, the newly married spouse's tax burden will go down, since married taxpayers filing jointly pay lower taxes on combined income than single people with the same taxable income.

The Earned Income Tax Credit (EITC) has been around since 1975; the average credit claimed per taxpayer in 1975 was $ 201 (or $ 886 in 2015 dollars).

Since a dependent is unable to claim their own exemption, a tax return is necessary when their earned income is more than the standard deduction for a single taxpayer, which in 2017 is $ 6,350.

Life Fellow, American Bar Association Member, Editorial Board, Journal of Multistate Taxation and Incentives Member, Tax Section, American Bar Association Member, Tax Section, State Bar of California Member, Tax Section, Sacramento County Bar Association IPT Co-Chair, ABA / IPT Advance Income Tax Seminar Committee Member, Board of Directors, California Taxpayers Association (since 2012 - 2015) Member, State Tax Notes Advisory Board (since 1996) Former Member, Editorial Advisory Board, The State and Local Tax Lawyer, published by Section of Taxation, American Bar Association, Region 1, Regional Editor (1998 - 2000) Former Member, Tax Committee, California Chamber of Commerce (1993 - 2004) Former Member, Sacramento Area Commerce and Trade Organization (SACTO), European Committee (1997 - 2000) Former Member, Juvenile Justice Committee, State Bar of California (1982 - 1983) Former Member, Standing Committee on Legal Services to Prisoners, Legal Services Committee, State Bar of California (1980 - 1983)

The taxpayers are not sure of how to report their crypto incomes and profits since the cryptocurrencies are neither legalized nor regulated,

Since cryptocurrencies are used in cross-border transactions, US sourced cryptocurrency gains of non-resident taxpayers would be subjected to a withholding tax that could be reduced or eliminated under an income tax treaty.