Today’s map zeroes in on states that have a “marriage penalty” in their individual income tax brackets. Under a graduated-rate income tax system, a taxpayer’s marginal income is exposed to progressively higher tax rates. A marriage penalty exists when a state’s income brackets for married taxpayers filing jointly are less than double the bracket widths that
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The U.S. Capitol Building is reflected against an ambulance along the East Front on Capitol Hill in Washington, U.S., July 16, 2020. Tom Brenner | Reuters While negotiations over the next coronavirus stimulus bill have carried on for months, there has been one certainty: Democrats, Republicans and President Donald Trump have all backed sending out
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AstraZeneca shares fell more than 6% in after-hours trading Tuesday after the company said its late-stage trial for a potential coronavirus vaccine had been put on hold due to safety concerns.  “This is a routine action which has to happen whenever there is a potentially unexplained illness in one of the trials, while it is investigated,
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A Tiffany & Co. employee wears a protective mask as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 1, 2020 in New York City. The fourth phase allows outdoor arts and entertainment, sporting events without fans and media production. Cindy Ord | Getty Images Entertainment
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People wait in their cars as they line up to collect unemployment forms in Hialeah, Florida. CHANDAN KHANNA/AFP via Getty Images The official unemployment rate fell to 8.4% in August as businesses continued emerging from broad shutdowns imposed early in the coronavirus pandemic, the Bureau of Labor Statistics reported Friday. That’s the lowest rate since
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Deferring payroll taxes; another way to track EIPs; managing needy clients; and other highlights from our favorite tax bloggers. Daring adventures TaxMama (http://taxmama.com): The IRS is still putting out Tax Tips daily. Only problem is, they seem to be recycling old news and not updating it for COVID practices. Here’s some great news, though: The
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