Tag: ‘individual income tax’

Tax Fun in the Summertime?

By :: February 16th, 2015

Congress is in recess this week. The Daily Deduction will resume its regular schedule on Monday, February 23.  Tax reform’s narrow window, according to House Ways and Means Chair Ryan. “I just think knowing the way the budget process works on tax reform that if we haven’t done it in 2015, which is effectively through […]

Read More

What’s Behind That 1040? Check Out TPC’s Interactive Tax Forms

By :: April 9th, 2014

Federal income taxes are complicated. That’s why roughly 90 percent of us either hire someone to prepare our tax returns or use computer software to do the job on our own. Only a tenth of us actually sit down and fill out the forms by hand. But it’s still important to understand what goes onto […]

Read More

Utah Lets Same-Sex Couples File Joint Tax Returns

By :: January 17th, 2014

The Utah State Tax Commission yesterday reversed Governor Gary Herbert (R), ruling that same-sex couples may file their 2013 state tax returns as married, as long as they wed before the end of last year. The ruling also applies to couples who married in other jurisdictions. As I discussed in my last TaxVox post, the […]

Read More

DOMA’s Tax Hassles for Same-Sex Couples

By :: March 26th, 2013

The annual income tax season is no fun for any of us but it can be a lot worse for same-sex couples in California, Nevada, and Washington. Those three states follow community property law and recognize either same-sex marriages or domestic partnerships. The combination makes tax filing an even bigger hassle than the rest of us […]

Read More

Same-Sex Couples and Taxes

By :: March 25th, 2013

The 1996 Defense of Marriage Act (DOMA) was not primarily a tax law but it certainly affects the federal taxes that same-sex couples pay. In fact, taxes are the basis for the second of the two cases concerning same-sex marriage that the Supreme Court will hear this week. Although the federal government generally recognizes state […]

Read More

102% Tax Rate? Really?

By :: February 8th, 2012

Investment manager James Ross last week told New York Times columnist James Stewart that his combined federal, state, and local tax rate was 102 percent.  No doubt, Ross did pay a lot of tax to the feds and the two New Yorks, city and state. But did he really pay more than all of his […]

Read More