Can you feel a tax cut – politico electricity outage


There are definitely some caveats to that — average tax refunds are basically even with a year ago through the six weeks of the filing season, after lagging during the first couple weeks, so it will be interesting to see whether more taxpayers believe they got a tax cut once the filing season concludes. But the findings also underscore why the Treasury Department and other 6 gases TCJA advocates might be reiterating over and over why the size of a tax refund doesn’t spell out whether someone got a tax cut last year.

And as to what the new poll says about the politics surrounding TCJA and 2020? It suggests that this might be the second consecutive election in which the GOP tax cut isn’t much help at the ballot box, but it’s also far too early to make too sweeping a conclusion. The tax law doesn’t get polled that much — perhaps itself a sign that the TCJA isn’t front and center in the political scene — but the average of recent surveys finds it’s neither particularly popular or unpopular.

Related note: Not as many taxpayers have gotten a refund electricity and magnetism review game so far this year, even as the average refund has evened out, as Bloomberg’s Laura Davison reported — and that’s part of the problem Republicans are having in convincing the public their taxes by and large were cut. “If middle America can’t be persuaded, it could gas buddy have big implications for the long-term viability of the overhaul, and how consumers spend their extra income, Davison writes.

But at least when it comes to the substance of rules, OMB’s Office of Information and Regulatory Affairs has had a “ light touch,” Tax Notes reported after getting a ream of draft regulations out of the White House. At the same time, there were definitely instances when, for whatever reason, proposed rules got a pretty substantial makeover between the time OIRA was done with them and the regulations were released.

Case in point: The rules for the Opportunity Zone program, meant to spur investment in economically struggling areas and a provision that is becoming one of the more talked-about features of the TCJA. As it happens, Treasury plugged in a key definition to the Opportunity Zone rules between the time they were returned from OIRA and given to the public — spelling out what companies needed to do to meet a requirement gas 89 that “substantially all” of its tangible property was located in an opportunity zone. (The answer: 70 percent.)

Those allowances by the IRS let religious leaders save about $1 billion in taxes, according to the Becket Fund for Religious Liberty, which has represented religious leaders in the electricity vs gas heating costs case. The district court judge had agreed with the argument offered by the Freedom From Religion Foundation that the exemption for pastors, priests, rabbis and the like violated the First Amendment, which states that “Congress shall make no law respecting an establishment of religion.”

But the 7th Circuit ruled that the allowances were part of the law’s broader, secular goal to offer certain benefits for employer-sponsored housing. For Justice’s part, spokeswoman Kelly Laco noted that “a parsonage tax exemption is constitutional because it is religiously neutral” and “does not excessively entangle the government in a manner that would advance or inhibit religious expression.” INTERNATIONAL UPDATE

A BILLION HERE, A BILLION THERE: UBS just keeps gambling in its showdown with France over a tax fine north of $5 billion, Bloomberg reports. For starters, the Swiss bank, currently the world’s biggest wealth manager, could have settled with Paris and paid a smaller fine. Instead, a French judge hit UBS with a 4.5 billion euro fine, and now the bank has only put aside a tenth of what it owes. One potential explanation: The court proceedings over the fine could drag on for still at least another electricity transmission vs distribution several years, and UBS can use money not funneled toward the fine for more stock buybacks. STATE NEWS

NEXT GENERATION IN WRITEOFFS: Proposed legislation in Georgia that would gas engine tom place new restrictions on abortion would also offer a tax benefit, The Atlanta Journal-Constitution reports — allowing residents to claim an unborn child on their taxes. The proposal essentially bans abortion once a doctor can hear a heartbeat, which is usually around the sixth week of a pregnancy, and also allows taxpayers to claim a fetus as a dependent at the same time. Georgia has yet to issue an official budget estimate for the proposal, but the AJC projects that claiming an unborn child “could be worth a few hundred dollars.”

ABOUT THAT REFUND: As Energy Secretary Rick Perry might say: “Oops.” Louisiana announced Friday that it had accidentally sent some taxpayers double the tax refund they were supposed to get, and was in the process of clawing back some $26 million, ABC News reported. The state blamed dynamic electricity examples a computer error and is working with banks so it can largely recover the extra payments electronically. QUICK LINKS

** A message from the Intuit Tax and Financial Center: Last year’s sweeping tax legislation lowered a number of rates, increased the standard deduction, and limited the deductibility of things like state and local taxes, but given the scope of the bill, it’s hard to know how individual taxpayers will ultimately be affected physical science electricity review worksheet. While each situation will be different, tax filing remains a challenge for millions of households, especially taxpayers living in non-traditional family arrangements. This is true not only because of the complexity of the tax code but, increasingly, because of the changing nature of work and the make-up of millions of American families. The need remains for policymakers to truly simplify the regulatory implementation of the tax code, reducing the excessive complexity of tax compliance rules for the average taxpayer. To read more, visit **