Fewer taxpayers than last year had filed by late March. That may be because of the new tax law. “This is the most complicated tax season ever,” one C.P.A. said. Source: NYT > Business – ANN CARRNS
Wealth Matters: The Teddy Bear Test, and Other Ways to Pass a State Tax Audit
Wealthy people with multiple homes may try to establish residency in lower-tax states to reduce their bill. Advisers say it’s a complicated task. Source: NYT > Business – PAUL SULLIVAN
SALT Limit Is Hitting 11 Million Tax Returns, Audit Finds
The Treasury report also shows the level of attention that high-ranking administration officials paid to a controversial regulation from the new tax law. Source: NYT > Business – JIM TANKERSLEY
DealBook: Tax the Rich? Here’s a Modest Proposal
Should there be a wealth tax on the richest Americans? A top bracket of 70 percent? Maybe take most of the estate when a billionaire dies? Or we could just close these gaping loopholes. Source: NYT > Business – ANDREW ROSS SORKIN
Your Money Adviser: Those Credit Card Bonuses May Be Taxable
If you get cash back from a card in exchange for purchase, that’s generally not taxable. But, experts say, a bonus for referring a friend probably is. Source: NYT > Business – ANN CARRNS
Democrats Want to Tax the Wealthy. Many Voters Agree.
A proposal to tax wealth finds support across party lines, along with the premise that the government should combat inequality. Source: NYT > Business – BEN CASSELMAN and JIM TANKERSLEY