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The Latest Breaking News from Federal Taxes

How to file your taxes and get your refund for free in 2023

Historically, April is tax time. (We will hold briefly for boos.) But there is a silver lining. Two, actually: Most people don’t need to pay for special software to file them. And if you’re fortunate enough to be a Californian, your state and federal taxes probably aren’t due until October.

Los Angeles Times

Brazil govt to resume fuel taxes -ministry

The Brazilian government is set to resume the collection of federal taxes on fuels this week, the Finance Ministry said on Monday.

Reuters

IRS won't tax most relief payments made by states last year

The IRS says most relief checks issued by states last year won't be subject to federal taxes, providing late guidance as taxpayers have begun filing returns

The Independent UK

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The IRS now says most state relief checks last year are not subject to federal taxes

A week after telling payment recipients to delay filing returns, the agency won't challenge the taxability of payments related to general welfare and disaster.

WEKU

Karl Smith: Republican tax proposals aren’t as bonkers as they sound

Among the many concessions Kevin McCarthy agreed to in order to become speaker of the House is one that would give the so-called Fair Tax Act a full hearing on Capitol Hill. To describe the bill as radical would be an understatement. Not only would it abolish the Internal Revenue…

Tribune News Service

Brazil's Lula decrees extension for tax exemption on fuels

Brazil's newly sworn-in President Luiz Inacio Lula da Silva signed a decree on Sunday extending for 60 days an exemption for fuels from federal taxes, a measure passed by his predecessor aimed at lowering their cost.

Reuters

Pritzkers release tax returns: Last year’s $18.5 million in taxable income more than triple previous year

Gov. J.B. Pritzker’s campaign released partial 2021 state and federal tax returns, which also show the Pritzkers paid $4,733,028 in federal taxes and $883,780 in state taxes.

Chicago Sun-Times

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Operation Lone Star troops could owe feds tax money thanks to state’s payroll error

On Thursday, officials with the Texas Military Department acknowledged that the payroll system they used for the mission has withheld too little in federal taxes from service members’ paychecks.

The Texas Tribune

Brazil's Lula to continue tax reform but replace income tax bill if elected, says aide

Brazil's former President Luiz Inacio Lula da Silva, if elected in October, will back a tax reform bill currently in the Senate that would unify federal taxes on consumption into one valued-added tax, a close aide told Reuters on Thursday.

Reuters

US tax bill costs corporations nearly $300 billion more, while middle class pays less

Corporations will pay nearly $296 billion more in U.S. federal taxes over the next decade, and middle-income households will see some tax cuts, under the tax-and-climate bill that is likely to become law in the coming days.

Tribune News Service

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