Remove income tax Remove Rhode Island Remove Tax
article thumbnail

Why are some states’ sale taxes higher than others?

TaxConnex

When you sell across multiple states – or even within various localities in a single state – one striking observation emerges: the consistent inconsistency of sales tax rates. The federal income tax has just seven brackets to cover the whole span of what somebody can make. Why do sales tax rates have to be so complex?

article thumbnail

IRS Provides Tax Relief to Rhode Island Storm Victims

CPA Practice

By Katelyn Washington, Kiplinger Consumer News Service (TNS) The IRS has granted federal tax relief for taxpayers impacted by severe storms in parts of Rhode Island. The relief includes extensions for various tax payment and filing deadlines. 2023 quarterly estimated income tax payments normally due on Jan.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

IRS Tax Relief for Taxpayers Impacted by Severe Storms in Rhode Island

Withum

Affected taxpayers qualifying for this tax relief include individuals and householders who reside or have a business in Providence County. The taxpayers eligible for relief under this information release now will have until June 17, 2024, to file various federal individual and business tax returns and to make tax payments.

article thumbnail

A history of sales tax

TaxConnex

All hail sales tax! Taxing certain goods dates back as far as 4,000 years. Ancient Egypt taxed cooking oil, for instance. The tax was levied on a product people had to buy and were forbidden to reuse (coincidentally, the Pharaoh had a monopoly on production). Salestaxes are no exception.

article thumbnail

IRS Says State Issued Stimulus Payments are Not Taxable

CPA Practice

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

article thumbnail

How the 50 States Rank By Tax Burden

CPA Practice

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

article thumbnail

Florida Fisherman Pleads Guilty to Evading $400K in Taxes

CPA Practice

A Florida man pleaded guilty yesterday to evading taxes on income he earned from commercial fishing in Massachusetts. Despite earning substantial income working as a fisherman, Garraty did not file until 2012 any federal income tax returns for tax years 2002 through 2011. Attorney Joshua S.

Florida 98