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Presidential hopeful Donald Trump has proposed getting rid of taxes on tips and overtime. AdvertisementIf former President Donald Trump gets his way, workers who collect overtime pay or tips could stop paying taxes on them. "Their employer can pay less to keep them but the worker is not worse off because now they don't have to pay taxes on that," Shierholz said. Or it could mean some salaried workers switch to hourly wages in order to qualify for a higher rate of untaxed overtime pay. Do you collect tips or overtime pay?
Persons: Donald Trump, Trump, , It's, Kamala Harris, that's, Harris, it's, Heidi Shierholz, Shierholz, Joe Hughes, Alex Muresianu, Muresianu, Hughes, Rube Goldberg, Karoline Leavitt Organizations: Service, Yale, Trump, Social Security, Taxation, Economic, Tax Foundation Locations: Arizona, America
The federal agency recently sent letters to more than 9 million individuals and families who may qualify for the tax benefits but who have not yet filed a 2021 federal income tax return. Alternatively, ChildTaxCredit.gov also lets people file their 2021 federal income tax returns. watch nowThat includes a tool provided by Code for America, GetCTC.org, that will allow people to claim their 2021 child tax credits, earned income tax credits and third stimulus checks. Tax filers typically have up to three years to file their returns and claim tax credits for which they are eligible. Moreover, the notices reference two additional tax credits, the EITC and CTC, in addition to stimulus checks.
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