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Joe Biden
No, billionaires don’t pay average of 8.2% in federal taxes
Joe Biden
No, billionaires don’t pay average of 8.2% in federal taxes
President Biden claimed during the State of the Union that the “average federal tax rate” for billionaires is 8.2%. But the actual number is higher.
Money
Headlines implying Americans could get $5,000 to shop under new bill are misleading
The proposed legislation is a tax credit for individuals and families that meet certain income qualifications, not free money to shop.
Immigration
There is no ‘Housing for Labor’ initiative from the Biden Administration
A satirical post claims President Biden and the IRS are offering tax incentives to families willing to take in migrants in a new housing program.
Taxes
Trump-era Tax Cuts and Jobs Act doesn’t have built-in tax increases for 2023 taxes
Viral social media posts falsely claim yearly income-based tax increases are built into a 2017 tax reform law. Here’s what the law actually means for taxpayers.
Taxes
No, the Trump-era Tax Cuts and Jobs Act doesn’t have built-in tax increases for 2023
The Tax Cuts and Jobs Act of 2017, a tax reform law signed by Trump, does not include yearly income-based tax increases like viral social media posts suggest.
Taxes
You can’t write off stolen property on your federal tax return – with very limited exceptions
Did you have a laptop or car stolen last year? Here’s why it’s very unlikely you’ll be able to claim that as a loss on your federal tax return.
Taxes
Yes, you can file your taxes for free
There are a handful of options you can use to file your federal taxes, and sometimes your state taxes, for free.
Taxes
Yes, you can file your taxes for free
There are several options you can use to file your federal taxes, and sometimes your state taxes, for free.
Taxes
There are several options you can use to file your taxes for free
There are several options you can use to file your federal taxes, and sometimes your state taxes, for free.
Money
Yes, there is a limit on how much tax-free money a parent can gift their child each year
In 2024, a parent is allowed to give their child up to $18,000 without having to report it to the IRS.
Electric Vehicles
What we can VERIFY about the EV tax credit in 2024
The rules for clean vehicle tax credits changed on Jan. 1, 2024. Here’s what we can VERIFY about which EVs are eligible for the credit in the new year.
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