Sentences with phrase «incurred by taxpayers»

The justices of the Massachusetts Supreme Court opined that proposed legislation that would provide tax deductions for certain educational expenses (tuition, textbooks and transportation) incurred by taxpayers whose dependents attended public or nonprofit private primary and secondary schools would violate Massachusetts» Blaine Amendment.

A careful analysis of the effects of a particular pension reform on benefits provided to public employees and costs incurred by taxpayers would entail detailed calculations under a range of possible assumptions.

A taxpayer can either deduct actual costs incurred by the taxpayer's automobile, or use the standard mileage rate method to calculate the amount deductible by business use.

-- No deduction shall be allowed for the applicable percentage of any FDIC premium paid or incurred by the taxpayer.

Not exact matches

The federal tax schedule or table is a chart devised by the Internal Revenue System that aids the taxpayers in determining the federal income tax incurred for a particular year.

The Chartered Institute of Taxation (CIOT) has called on HMRC to allow taxpayers a limited number of defaults before incurring a penalty for late submissions under the new proposals for digital tax reporting.1 This can be achieved by allowing those taxpayers a short extension period on those particular occasions.2 The CIOT says such an approach to penalties is more consistent with HMRC's five principles for penalties than alternative penalty regimes that HMRC recently consulted on.3 The CIOT has said that this «cumulative suspension» penalty regime is more likely to encourage compliance, penalise non-compliance and be a proportionate response to late filing.4 HMRC is yet to publish details about the level of the penalties, although it has confirmed that this will be a fixed penalty, irrespective of the size of the business.

In an memo e-mailed to county Sheriff Adrian Anderson on Friday and obtained by Mid-HudsonNews Network, Steinhaus wrote: «I want to reaffirm that county property taxpayers are not to incur any expense for the assignment of county employees to this private event or to address the collateral impacts to traffic or related localities.»

Tax - saving implies that there are certain provisions in the Indian Income Tax Act that allows an individual to save tax by investment in some particular investment instruments (like ELSS mutual funds or Life insurance premium etc., under Section 80c) or when the taxpayer has incurred some expenses on which tax liability can be minimized to some extent (Example — HRA, LTA etc.,).

about $ 12K a MONTH to sit on CITY PROPERTY paid for by Austin taxpayers (so that they can now bring in competition for Austin's pets)-- the City won't incur add» l costs for APA!

Now, under the new rules, on the death of the life beneficiary, the taxes are instead allocated to the life beneficiary's estate, creating a mismatch of taxes being incurred by one taxpayer and the assets being held by a different taxpayer.

Those individual taxpayers, by whom the house rent allowance is not received, qualify for this deduction on the rent they pay, subject to the highest deduction equal to 25 % of the total income incurred or Rs. 2, 000 per month.

«Loan modifications and short sales help stabilize home values and neighborhoods, and limit the losses incurred by lenders, the federal government and taxpayers, which is good for everyone,» said Veissi.