Taxes

If you've ever wondered where your tax dollars are going, you're not alone: Cardi B posted a video on Instagram saying she want receipts of where her tax mon...

We are quickly approaching the deadline for filing (and paying) our federal and state income taxes, and that means it’s time for an annual post to help put things in perspective. Let's start with some historical perspective: when income tax began in 1913, the maximum marginal income was only 7% on incomes above what would be more than $12 million in today's dollars.

The U.S. tax system is designed to be progressive, with rich people paying a larger share of their income to the IRS. Here's what to know.

Jeff Bezos has been unloading Amazon shares at a fast clip, dumping nearly 36 million shares for about $6 billion. Here's why.

Bezos has said he plans to offload about 50 million Amazon shares in total over the next year, worth ~$8.7 billion currently.

Tax season is here! Whether you're seeking a quick overview of the essentials, a deep dive into the details, or an exploration of engaging activities for your students, we've got you covered!    Want to review the essentials?  NGPF's new Starter Pack On-Demand modules do just that!  The Role of Taxes reviews the elements of your paystub and an overview of where your tax dollars go. The Tax Forms & Filing module covers key dates, tax forms, and methods in filing your taxes. Both modules are filled with fundamental tax content.

Tax articles recently included many on developments at the IRS and tax advice and planning for retirement. We also take a look at inflation’s impact on tax brackets for 2023 taxes, and changes to some states’ income taxes. But we begin the update with a timely article given all of the huge lottery drawings this summer.   Lottery Winnings This might be a good hook during your tax unit—How much will a jackpot winner pay in taxes?

The forthcoming overhaul of the Internal Revenue Service is intended to increase audits of the wealthy and big corporations while leaving audit rates on average households the same, according to a plan released by the agency Thursday.

The IRS will pilot its own online tax preparation tool.

Private companies' rent-seeking behavior has kept Americans from accessing a simpler and cost-effective tax filing system, resulting in wasted resources for tax filers.

If you're expecting a tax refund, it could be smaller than last year. And with inflation still high, that money won’t go as far as it did a year ago. The more than 101 million taxpayers who had filed as of April 7 got refunds that were an average of 9.3% less than last year. That's in part due to pandemic relief programs expiring. The filing deadline for most taxpayers is Tuesday, though it has been extended for eight states that were hard hit by severe weather. According to the most recent IRS data, the average refund is $2,878, down from $3,175. That's a difference of more than $300.

IR-2021-219, November 10, 2021

Professional athletes owe major tax bills every time they work in another state. If you’re a remote employee, you might, too.

Estimate your tax refund or how much you may owe to the IRS with TaxCaster, our free tax calculator that stays up to date on the latest tax laws so you can be confident in the calculations.

30% of Americans say they’re reliant on their tax refund to make ends meet in 2023, especially Gen Z and millennials Despite fewer pandemic tax credits, 29% of Americans expect a higher tax refund this year Nearly a quarter of American taxpayers plan to use their tax refund to pay for necessities (24%) It’s the […]

More states are slashing or eliminating taxes, lessening the burden mostly for the wealthy. What does that cost the rest of us?

IR-2022-188, October 21, 2022

The IRS has released higher federal tax brackets and standard deductions for 2023 to adjust for inflation. Here's what filers need to know.

Here's a breakdown of income and rates for next year.

Question of the Day for teachers and students (Updated): What percent of U.S. taxpayers prepared their own tax returns in 2021?

Secret IRS files reveal the top US income-earners and how their tax rates vary more than their incomes. Tech titans, hedge fund managers and heirs dominate the list, while the likes of Taylor Swift and LeBron James didn’t even make the top 400.

Economists Say We Should Tax the Rich at 90% Why the Rich Like High Taxes Enjoy this video? You can access many more resources like quizzes, teacher's guides, and free DVDs when you register! It will take you less than two minutes, and best of all: it's FREE!

Learn about basic taxation, paycheck deductions, gross pay, net pay & more! It’s a Money Thing is a registered trademark of Currency Marketing

Thanks to the coronavirus, this tax season is going to look a lot different. Here’s everything you need to know to help you file your taxes with confidence.

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NGPF Activity Bank Taxes Interactive: Intuit Education TurboTax Simulation Teachers, you MUST carefully review the TEACHER GUIDE for instructions on how to implement this activity in class. You cannot possibly run the simulation without following the directions listed there. The gu...