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    American Action Network (AAN), a House Republican-aligned group, released a campaign ad Wednesday, slamming Rep. Hakeem Jeffries (D-NY) for the generous tax break he voted for as a New York State assemblymember that allows him to pay almost nothing in property taxes. The campaign ad targets Jeffries, who is widely seen as a successor to House Speaker Nancy Pelosi (D-CA), for paying a mere $200 in property taxes on his $1.2 million New York City condo while he pushes for higher taxes on Americans. Nancy Pelosi (D-CA) (SAUL LOEB/AFP via Getty Images) The ad showed two clips of Jeffries saying, “Middle-class Americans are struggling to find affordable housing,” and “We have to make sure the wealthy and well-connected pay their fair share.” However, the narrator asserted that Jeffries saved roughly $12,000 in property tax while the Democrats pushed for higher taxes on Americans. A news anchor is also shown in the ad detailing the report that exposed that Jeffries only paid a couple hundred dollars in property tax instead of thousands. The New York Post first reported last month that the congressman lives in a “heavily subsidized” condo. The report...
    A federal court in New York sentenced a Gambino crime family captain to prison and ordered him to pay $1 million in restitution for his role in a racketeering conspiracy. The mobster will also pay a fine of $15,000. U.S. District Judge Ann M. Donnelly sentenced Andrew Campos, a captain in the Gambino crime family of La Cosa Nostra to 37 months in prison. She also ordered that he pay $1 million in restitution and a fine of $15,000 following his plea agreement on charges related to wire fraud and money laundering, according to information obtained from the U.S. Attorney’s Office for the Eastern District of New York. “As a captain in the Gambino crime family, Campos has engaged in multiple fraud and money laundering schemes and maintained the corrosive influence of organized crime in the construction industry,” stated United States Attorney for the Eastern District of New York Breon Peace. “This Office, together with its law enforcement partners, will continue to pursue all investigative avenues to deter, interrupt and hold accountable members of organized crime who seek to line...
    Dear Amy: My youngest brother was arrested 19 years ago and jailed for eight weeks for molesting a 4-year-old child. He was on probation for 10 years. This was horrible for the child’s family and for my family. We thought it was a one-time thing. My brother went on with his life, got married, and has a good job. Very recently, five family members (now adults) have said he molested them, too, when they were young. Each has to decide whether to step forward and report it … now or ever. Related Articles Ask Amy: I like to help my hosts by taking leftovers. My wife says it’s rude. Ask Amy: I don’t want my husband using my name anymore when he does this Ask Amy: It makes me sick to think that my best friend violated my privacy Ask Amy: I know I sound delusional, but I’ve decided to sever all my friendships Ask Amy: As the senior neighbor on the street, I should have been told about the...
    SISTER Wives star Kody Brown and his fourth wife Robyn owe taxes on their Arizona home after third spouse Christine left the family.  Kody, 52, is spiritually married to Meri, 50, Janelle, 52, Christine, 49, and legally married to Robyn, 43, who has been dubbed the “head wife.” 5Kody Brown owes taxes on the Arizona home he shares with Robyn 5Kody and Robyn owe $2,056.89 on their $890,000 homeCredit: realtor.com Christine sold her Arizona home and is now renting a $1.1million duplex home in Murray, Utah after years of marital strife with Kody.  The Sun can exclusively reveal he owes taxes on the home and land he owns with Robyn.  According to Arizona courts, the married couple have delinquent taxes in the amount of $2,056.89, which includes interest on two acres of land next to their $890,000 home.  Kody and Robyn also owe $5,283.76 on their five bedroom, four bathroom house, but they have until the December 31 due date to pay off the amount. Robyn has been dubbed Kody’s “favorite” wife for years, as he isn’t seen with his...
    (CNN)Democrats have been waiting for years to reimagine the tax code so that, in their words, the wealthy are paying their "fair share" and working and poor families aren't disproportionately hit with the tax burden. But overturning key pieces of the GOP's 2017 tax law -- a boon for businesses that lowered individual and corporate taxes -- won't happen without a bruising fight, potentially within their own party.Special interest groups are already preparing for a sustained campaign against those changes, and the next weeks will test whether Democrats have the resolve to make good on what has been a campaign slogan up until now. "I still think we can find the revenues to do the $3.5 trillion," Sen. Mark Warner of Virginia, a Democrat on the Senate Finance Committee, said of his party's sprawling spending package. "If we cannot generate the revenue, it all becomes somewhat moot."He added, "It's not going to be easy." What we know so far about the Democrats big spending proposalsDemocrats' ability to roll back tax breaks for corporations and individuals will ultimately determine how much...
    Sen. Sherrod Brown of Ohio and Sen. Ron Wyden of Oregon. Democrats Sens. Ron Wyden (Oregon) and Sherrod Brown (Ohio) have introduced a new tax on corporations that's likely to be included in the reconciliation bill now being drafted in both the House and Senate to enact President Biden's Build Back Better plan. Wyden and Brown are chairs of the Senate’s finance and banking committees, respectively, responsible for drawing up pieces of the 10-year, $3.5-trillion spending plan. Wyden in particular has got the big job of finding ways to finance that, and a few problem Democrats (looking at you, Montana Sen. Jon Tester right now, protecting "family farms"), so the stock buyback tax and tightened rules on taxing partnerships is the solution he has landed upon. The combined proposals are projected to raise $270 billion over the next 10 years. The first proposal captures back some of the billions in lost revenue from the 2017 GOP tax scam. "Rather than investing in their workers, mega-corporations used the windfall from Republicans' 2017 tax cuts to juice their stock prices and reward their...
    ELIGIBLE Americans scoring Child Tax Credit checks should consider that the extra cash of up to $3,600 per child will affect next year’s taxes. This January, the Internal Revenue Service (IRS) will be sending what they’re calling Letter 6419s to families to calculate the money they received and what amounts might be owed due to overpayments. Getty 2 In January, the IRS will be sending what they’re calling Letter 6419s to families to calculate the money received The letter will calculate the “total amount of advance Child Tax Credit payments that were disbursed to you during 2021,” the IRS states. PAY NOW, NOT LATER The CTC checks started landing in Americans’ bank accounts and mailboxes in July and are expected to continue through December. The IRS is relying on the most recent tax filings, most commonly the 2019 or 2020 tax returns to verify if the family qualifies for CTC credits.  If a family’s financial or status changed in 2021 that means your eligibility to receive the credits did too.   KEEP IRS INFORMED For instance, if your family welcomed...
    Some farmers are pushing back against a proposal by the Biden administration that would raise taxes on some inherited assets, saying it could hurt multigenerational businesses. A group of Republicans, led by House Ways and Means Committee ranking member Kevin Brady of Texas and Rep. Adrian Smith of Nebraska, hosted a virtual event on Tuesday where they brought on three different owners of farms and businesses. The landowners expressed fear about the future of their enterprises if the Biden administration eliminated a provision of the tax code known as the step-up in basis. The step-up in basis allows inherited assets to be taxed at the basis value of when they were inherited rather than the basis value of when they were first purchased. It can allow the appreciation of an asset over the course of a decedent's life to go untaxed, although the estate tax may apply. Democrats argue that it affords the wealthy a loophole to keep assets without paying taxes, but Republicans say that the policy doesn’t just affect the wealthiest people but also farmers and...
    New analysis of President Biden's tax proposals has suggested that nearly 60 percent of Americans may still face bigger bills, despite his continued promise that no one earning less than $400,000 a year would be impacted. The findings from the nonpartisan Tax Policy Center show that the majority of the burden would be placed on America's richest families - also known as the one-percenters - earning more than $800,000. Around 99.8 percent earning between $500,00 and $1million will pay more an average of $8,810 more in taxes each year.  But low and middle-income families who have been told they would avoid a hike in rates may also have to pay extra. These tax bills may be offset by tax credits, but experts suggest that families earning between $75,000 and $500,000 may still get pinched. This is not as a result of direct taxes on income but of the impact of the other hikes in rates, such as the corporate tax rise.   New analysis of President Biden's tax proposals has suggested that nearly 60 percent of Americans may still face...
    PRESIDENT Joe Biden has vowed not to raise taxes for families that make less than $400,000 annually. Whether he keeps that promise may depend on "one’s frame of reference," according to CNBC. 3President Joe Biden speaks prior to signing the American Rescue Plan in March of 2021Credit: Reuters Will the Biden tax plan affect you if your income is below $400,000? The White House released some of its economic goals in a fact sheet for Joe Biden's American Families Plan in April of 2021. "Alongside the American Families Plan, the President will be proposing a set of measures to make sure that the wealthiest Americans pay their share in taxes, while ensuring that no one making $400,000 per year or less will see their taxes go up," the document reads. "When combined with President Biden’s American Jobs Plan, this legislation will be fully paid for over 15 years, and will reduce deficits over the long term." Biden's tax reforms "focused on the highest income Americans" would raise about $1.5 trillion across the decade, according to the fact sheet. “I think...
    SISTER Wives star Kody Brown owes over $1,000 in taxes on the Flagstaff, Arizona home he shares with wife Robyn, as the family “can’t afford” to build on vacant land they purchased back in 2018.  The Sun can exclusively reveal Kody, 53, owes $1,058.31 in property taxes, which include interest, on the Arizona home he shares with fourth wife Robyn, 42.  16Kody and Robyn Brown owe $1,058.31 in property taxes on their Flagstaff, Arizona homeCredit: TLC 16Kody and Robyn bought the home for $890,000 in 2019Credit: Realtor.com Kody missed two tax bills on the house, according to an Arizona court.  Kody and Robyn bought the five bedroom, fourth bathroom home for $890,000 in August 2019. The massive home almost ended Kody and Robyn’s marriage.  The home they were renting went on the market, forcing them to find another house.  16The kitchen has stainless steel appliancesCredit: Realtor.com 16There is also a kitchen islandCredit: Realtor.com 16The living room has hardwood floorsCredit: Realtor.com 16Kody and Robyn almost divorced over the homeCredit: Realtor.com Robyn refused to buy an abode, as it would financially delay...
    Garion Frankel, The Western Journal May 7, 2021 0 Comments Back when he was just the then-presidential candidate Barack Obama’s running mate, President Joe Biden told ABC’s “Good Morning America” that the plan was “to take money and put it back in the pocket of middle-class people.” Declaring that wealthier Americans would have to pay more in taxes, Biden proclaimed, “It’s time to be patriotic … time to jump in, time to be part of the deal, time to help get America out of the rut.” Unlike many of the 2008 Obama-Biden policy positions, taxing the rich is not a proposal that Biden has abandoned. In a Thursday speech, he declared, “I’m sick and tired of corporate America not paying their fair share.” [email protected]: “I’m sick and tired of corporate America not paying their fair share.” pic.twitter.com/0PvS8H6BnL — The Hill (@thehill) May 6, 2021 If paying more taxes is the litmus test that determines whether or not a rich person is patriotic, then it looks like Biden absolutely hates his country. The Federalist reported Thursday that upon leaving...
    Erin Coates, The Western Journal May 6, 2021 0 Comments While President Joe Biden has repeatedly promised that wealthy people will be the only ones impacted by his tax proposals, his plan will also hit American farm and ranch owners by limiting a longstanding tax break. Under the provision, known as a 1031 like-kind exchange, landowners can defer paying capital gains taxes after they sell an investment property and put the money toward buying different land, The Wall Street Journal reported. The tax break has been used to cheaply and quickly relocate farms to land with better soil to diversity crop growth and consolidate land. According to data from 2012, farm owners held about 40 percent of land in the continental United States, the report said. The Trump administration narrowed the use of the 1031 tax deferment by limiting the exchanges to only real estate; farmers used to apply it to other types of personal property, such as farm equipment and livestock. “That has been a very hard change,” fifth-generation cattle rancher Kalena Bruce told The Wall Street Journal....
    Progressive lawmakers and advocacy groups are hailing President Biden's sweeping multitrillion-dollar tax and spending plan as a major victory for the left-wing faction of the Democratic Party.  Biden's first 100 days in office have been marked by an unprecedented spending blitz: Less than one month after Democrats passed the $1.9 trillion coronavirus relief bill, the president unveiled a $2.3 trillion plan targeting infrastructure and green energy, followed by a $1.8 trillion measure focused on domestic priorities such as child care, paid family leave and education.  During his first primetime address on Wednesday before a joint session of Congress, Biden heralded the ambitious spending proposals, which would be paid for by new taxes on corporations and rich Americans, as an opportunity for the U.S. to rebuild its pandemic-stricken economy and expand the social safety net on a scale not seen since Franklin D. Roosevelt was in the Oval Office. "I can report to the nation: America is on the move again," Biden said. "Turning peril into possibility. Crisis into opportunity. Setback into strength." WHAT'S IN BIDEN'S NEWEST $1.8T TAX AND SPENDING PLAN? Biden — an establishment stalwart...
    House Speaker Nancy Pelosi defended raising taxes on America’s wealthiest citizens in order to fund President Joe Biden’s “American Families Plan” and said Republicans raised the national debt  during the Trump administration. “Again, what he’s [Biden] talking about is exactly just to reverse some of what the Republicans did in their tax scam where they added almost $2 trillion to the national debt if you include the cost and the interest on the debt to give tax breaks to the top, top, top wealthiest people in our country,” Pelosi said on MSNBC’s “Andrea Mitchell Reports.” Biden is scheduled to announce the “American Families Plan” on Wednesday during a joint congressional session address, marking the third major spending proposal since becoming president. Senior administration officials say the proposal will have a price tag of $1.8 trillion, following the “American Jobs Plan” and the “American Rescue Plan,” which were $2.25 trillion and $1.9 trillion respectively. (RELATED: ‘Creating A Dependency Culture Is Dangerous’: Newt Gingrich Warns About Biden’s Trillion Dollar Packages) WATCH: The plan will be funded primarily through tax increases on the...
    Here are the states that dont require face masks Granholm: DOEs big clean energy spending to come with strings attached THE MONEYIST Dear Quentin, Load Error My husband and his brother inherited their family home. When they were able to take possession, our son and his family needed a place to live. His brother was quite willing to let them move in and, in lieu of paying him rent for his 50%, my husband and I would be responsible for all upkeep, repairs, taxes, etc. The house is probably 90 years old, and needed quite a lot of work before they could move in. We spent approximately $20,000 to make it livable. After four years the house caught fire and, with the help of a crooked contractor, it took another $30,000 of our money to repair all the damage. Now comes my concern: If my husband and his brother had sold the house when they first inherited it, they would have split proceeds 50/50. It would definitely have been sold, because we didn’t want...
    Dear Quentin, My husband and his brother inherited their family home. When they were able to take possession our son and his family needed a place to live. The brother was quite willing to let them move in and, in lieu of paying him rent for his 50%, my husband and I would be responsible for all upkeep, repairs, taxes, etc. The house is probably 90 years old, and needed quite a lot of work before they could move in. We spent approximately $20,000 to make it livable. After 4 years the house caught fire and, with the help of a crooked contractor, it took another $30,000 of our money to repair all the damage. Now, comes my concern. If my husband and brother had sold the house when they first inherited it they would split proceeds 50/50. It would definitely have been sold because we didn’t want to be landlords to anyone other than son. But now 6 years later, we have paid well over $60,000 in repairs and taxes. This amount is well over what we...
    Former “Modern Family” star Nolan Gould says his weight loss moment of clarity came after a trip to Taco Bell that almost broke the bank. The 22-year-old actor, who played Luke Dunphy on the long-running sitcom, said he let his waistline expand during the COVID-19 pandemic — but has been able to get things back under control and has transformed his physique. “I definitely enjoyed my fair share of the quarantine lifestyle, a fair bit of day drinking and a lot of ordering things on delivery so as not to go out,” the star told Page Six. “I remember there was this one day when I ordered $30 worth of Taco Bell, which is an insane amount of tacos to eat and I ate it all in one sitting. I woke up the next morning and thought, I can’t do this anymore.” So for the last six months, Gould has been having socially distanced work outs with a trainer and has overhauled his diet. Nolan Gould in “Modern Family” in 2014, and working out in February 2021.ABC ; Courtesy...
    Philip Rivers announces retirement after 17 seasons: Its just time What Disney Food Was Popular The Year You Were Born These $19k SUVs Will Make You Trade in Your Car Ad Microsoft Full screen 1/8 SLIDES © damircudic / Getty Images If you welcomed a child to your family in 2020, congratulations. Not only do you have an heir and a legacy, but for the rest of your life, you’ll have an awesome story about how you welcomed a child into your life during the weirdest year ever. You also have a whole lot of changes coming to your taxes, which just got more complicated. The good news is, they might have gotten cheaper. Kids equal tax breaks for millions of Americans, and the latest addition to your family might just lower your tax bill or boost your refund.  Find Out: What Are the 2020-2021 Federal Tax Brackets and Tax Rates? Chances are good you haven’t slept for a full night...
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