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Search resuls for: "Joe Hughes"


3 mentions found


☆ The top 5% will benefit from Trump's tax plans while the rest of America pays more, a new analysis says
  + stars: | 2024-10-09 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com   time to read: +6 min
With the economy top of mind for many voters, tax policy will be significant in the election. Trump's proposals include eliminating taxes on tips and overtime, extending the 2017 tax cuts for individuals, implementing higher tariffs on imported goods, and reducing the corporate tax rate. Meanwhile, the Tax Policy Center has found that the policies would bring down post-tax incomes by $1,800 in 2025. Joe Hughes, a senior analyst on federal tax policy at ITEP, previously told BI that high-wage workers could take advantage of Trump's proposals to make more money. Ultimately, though, any tax proposals would need buy-in from the House and Senate.
Persons: Donald Trump, —, everybody's, ITEP, Ernie Tedeschi, Trump's, Matthew Gardner, Gardner, Trump, Casey B, Mulligan, Joe Hughes, Hughes, Brian Hughes Organizations: Service, Taxation, Yale Budget Lab, White House Council, Economic Advisers, IRS, American Progress, Trump, Policy Institute, Washington Post, Trump campaign's, Democratic, Senate Locations: ITEP
☆ Trump's plan to scrap taxes on tips and overtime could reshape how millions of Americans get paid
  + stars: | 2024-10-02 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +7 min
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
☆ As a key deadline looms to claim 2021 tax credits, Republicans complain of 'suspicious timing' of IRS letters
  + stars: | 2022-11-09 | by ( Lorie Konish | ) www.cnbc.com   time to read: +5 min
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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