Displaying items by tag: income tax

A federal jury sitting in Greensboro, North Carolina, convicted a North Carolina couple of conspiring to defraud the IRS and other federal employment tax and income tax violations.  

It would be outrageous.

It would be unprecedented.

It would damage the credibility and validity of North Carolina’s highest court for decades.

RALEIGH — The N.C. House passed a bill by a vote of 100-5 on Wednesday to exempt military retirement pay from state income taxes.

RALEIGH — The North Carolina Senate passed a Republican-led tax reform package Wednesday evening in a quick, 36-14 vote that drew eight Democrats to cross the aisle and vote in favor of the bill. House Bill 334 would raise the standard deduction from $21,500 to $25,500 for joint filers, which would take about a quarter of a million of the lowest-income North Carolinians entirely off the tax rolls. It also reduces North Carolina’s flat income tax rate for remaining taxpayers from 5.25% to 4.99%.

RALEIGH — Personal income tax rates would be slashed and the corporate tax rate entirely eliminated by 2028 under a proposal rolled out on Tuesday, May 25, by N.C. Senate Republicans.

Despite the bizarre virtue signaling by a few rich CEOs on cable news to pay more in taxes, the vast majority of Americans don’t like having their pockets emptied by the government. A lower tax climate is an American tradition.

CHARLOTTE — The Internal Revenue Service’s Criminal Investigation Division reminded  taxpayers today to file accurate tax returns and choose a tax preparer wisely. The nation’s tax season starts on Friday, Feb. 12, 2021 when the agency begins accepting and processing 2020 tax year returns.  

RALEIGH — North Carolina taxpayers could get a check from the state by late November.