Sentences with phrase «of other taxpayers»

These funds are usually held by the qualified intermediary in a commingled account with the exchange funds of other taxpayers.

The Supreme Court ruled similarly that, although tax secrecy and confidentiality were important values that should be protected (and were expressly protected under s 81 of the Tax Administration Act 1994), the disclosure of information regarding the affairs of other taxpayers was reasonably necessary for the fulfilment of the Commissioners statutory obligation in this instance.

The tax credit is not allowed if the taxpayer designates the taxpayer's contribution to the school tuition organization for the direct benefit of any dependent of the taxpayer or if the taxpayer designates a student beneficiary as a condition of the taxpayer's contribution to the school tuition organization. The tax credit is not allowed if the taxpayer, with the intent to benefit the taxpayer's dependent, agrees with one or more other taxpayers to designate each taxpayer's contribution to the school tuition organization for the direct benefit of the other taxpayer's dependent.

A taxpayer that isn't a dependent of any other taxpayer gets a standard deduction in a fixed amount, depending on filing status.

Not exact matches

And put that way, it seems a bit more daunting from a taxpayer's point of view, especially when there's very little governments can or need to do to fix Canada's affordable housing crisis — other than get out of the way.

Labour has said it will raise income taxes on people earning more than # 80,000 ($ 103,152) a year, promising no increases for the other 95 % of taxpayers.

That means, roughly speaking, that about $ 488 million of those costs were borne by taxpayers or absorbed as losses by other parts of the medical sector.

To help taxpayers chill out on April 18, Kona Ice will once again be parking its trucks at post offices, tax preparation centers and other businesses around the country, handing out free cups of tropical shaved ice and complimentary Hawaiian leis.

U.S. taxpayers ended up bailing out big banks and others to the tune of over $ 700 billion.

Because they aren't responsible for collecting the taxes for these payments, «a provincial government and its voters are incited to always demand more from the centre, shifting a large part of the costs to the taxpayers of other provinces,» argues Université du Québec economist Pierre Lemieux.

In that case, according to the IRS, rental losses of up to $ 25,000 for single taxpayers and married couples filing jointly (and $ 12,500 for married filing separately) can be used against other types of income.

Although there are no guarantees that anyone other than the taxpayer involved will receive the promised treatment, private letter rulings serve as useful barometers of the IRS's thinking.

«When it comes to showing solidarity with the poorer countries in the Mediterranean, parts of the Middle East and in Africa, they succeed in persuading people that it's all taxpayer money being given to other people who don't deserve it.»

Stateside, the Coyotes eke out a precarious existence via taxpayer dollars from host city Glendale; other American teams are losing millions of dollars a year.

(Sec. 11021) This section temporarily increases the standard deduction to $ 24,000 for married individuals filing a joint return, to $ 18,000 for head - of - household filers, and to $ 12,000 for all other taxpayers.

If, on the other hand, you're one of the tens of millions of able - bodied Americans who have benefitted from record welfare spending that's not nearly as means - tested or fraud - free as it should have been, it's time to take your hand out of the taxpayers» pockets and get to work.

Like other corporate and individual taxpayers, the amount of income taxes paid each year will vary based on the level of income subject to tax.

On the other hand, the 27 percent of taxpayers not receiving a refund may be getting the opposite — a big tax bill.

Alternative minimum tax: The alternative minimum tax (AMT), which was designed to affect only the wealthiest taxpayers but has been a thorn in the side of millions of others, would be completely repealed.

Examples include provisions that allow immediate expensing or accelerated depreciation of certain capital investments, and others that allow taxpayers to defer their tax liability, such as the deferral of recognition of income on contributions to and income accrued within qualified retirement plans.

Equity Income Funds typically distribute most of their income in the form of Qualified Dividends, which for many taxpayers are taxed relatively lightly, allowing most Equity Income Funds and ETFs to be considered High Tax Efficiency investments when compared with other investment options that generate taxable income.

Hensarling and other Dodd - Frank critics have called that ability — known as «orderly liquidation authority» — a bailout, even though any taxpayer money used is supposed to be recouped from the sale of the company's assets or an assessment on the financial industry.

Combined with other proposed tax law changes, many more taxpayers will be claiming the standard deduction in lieu of itemizing deductions.

Why does this group of taxpayers deserve a tax cut more than all other Canadian taxpayer?

The Conservative proposals take up a large part of the surplus but puts money in taxpayer's pockets, some more than others.

Others reduce deductions, in which case their quantitative impact depends on the taxpayer's marginal tax rate: the higher the tax rate, the greater the value of the lost deduction.

Itemized deductions: The TCJA wipes out several itemized deductions and modifies others in conjunction with the repeal of the «Pease rule» reducing deductions for upper - income taxpayers.

The other, led by Sens. Elizabeth Warren of Massachusetts and Sherrod Brown of Ohio, said the bill catered too much to the banks that contributed to the financial crisis and would increase the likelihood of future taxpayer bailouts.

The tax reform law included a number of other major changes for individual taxpayers.

Higher - income taxpayers with mortgage interest, property tax, and other deductions in excess of such amounts would have no tax incentives to give to charity because charitable gifts would not add to their deductions.

Taxpayers can deduct up to $ 3,000 of net losses (losses in excess of gains) each year against other income; taxpayers can carry over losses above that amount and deduct them from futuTaxpayers can deduct up to $ 3,000 of net losses (losses in excess of gains) each year against other income; taxpayers can carry over losses above that amount and deduct them from fututaxpayers can carry over losses above that amount and deduct them from future gains.

Taxpayers would lose the ability to deduct their state and local property and other taxes from their federal taxes, a break used by about 44 million people (or 30 percent of tax filers.)

The Baltimore Sun filed a request under the Public Information Act seeking a copy of the proposal, which could reveal details on how much taxpayer money and other benefits the city and state were prepared to offer the Seattle company.

At the same time, the introduction of an integrated Canada-U.S. entry - exit system will improve mobility — and reduce costs to taxpayers — by eliminating the need for separate systems to track the comings and goings of citizens and other travelers.

Besides opening up the jails and Guantanamo, Obama will be leaving Trump with a bunch of other fiascos he created that will take years to fix and billions of taxpayer dollars to remedy.

In other words, Quebec and federal taxpayers are being asked to pony up to protect the financial well - being of the family, which, incidentally, received approximately $ 150 million in dividend payments from Bombardier over the last decade, even as the company has yet to repay all the money its borrowed from the federal government in the past.

Experts expect that other elements of the tax bill — including the near - doubling of the standard deduction and the $ 10,000 cap on property, state and local income taxes — will mean fewer taxpayers itemize.

The Consumer Federation of America, among others including myself, have written about the high cost of tax assistance services for low - income taxpayers and the potential for consumer abuse including price gouging.

How could there have been meaningful reform of Wall Street if Citigroup and these other four banks are still holding a loaded gun to the taxpayers» head?

The other major pillar of the reform is the cuts that have been enacted for individual income earners, with middle - class taxpayers earning between $ 19,050 and $ 77,400 per year receiving a cut in tax from 15 to 12 percent.

The CFIB, in other words, represents a number of shops whose employees are paid substandard wages with no in - house pension plans, and who can get away with it because the taxpayer is topping up the low CPP / QPP payouts their employees receive on retirement.

A Bit of History Earlier this year, the High Administrative Court of France was seized on behalf of several taxpayers, challenging the instituted regimen, in force since July 2014, related to taxation of bitcoin and other cryptocurrency - related transactions.

Notable students of the conservative Calgary School have included Prime Minister Harper, Mr. Levant, Ms. Smith, Conservative cabinet minister Pierre Poilievre, conservative strategist Ken Boessenkool, Fraser Institute senior fellow and former Taxpayers Federation director Mark Milke, and former Prime Ministerial Chief of Staff Ian Brodie among others.

In other words, if you are thinking about buying RBC stock, no need to assume the bank would suffer big losses in the event of a housing crash: it will be taxpayers who take the hit.

From a tax perspective, readers may want to know that there is something that federal tax code calls the passive loss limitation rules that prevent taxpayers from offsetting passive losses against other forms of income.

Although it's impossible to avoid taxes entirely, taxpayers do their best to take full advantage of the deductions, credits and other tax breaks available to them in order to cut the amount they have to pay to the IRS.

In the meantime, a taxpayer may refer to other available circular notices regarding the treatment of foreign currency transactions.

If you are not a taxpayer of the state offering the plan, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

Others simply might not be worth using anymore for you after this year, due to the significant increase in the standard deduction, which will make itemizing unnecessary for many millions of taxpayers.

Although the provision is equipped with guardrails restricting professional service firms, other taxpayers may be tempted to recharacterize their income to take advantage of this tax break.