Supreme Court Upholds King, Says Obamacare Tax Credits Apply To All States

The Supreme Court has held that the Patient Protection and Affordable Care Act, sometimes called “Obamacare,” authorized federal health care tax credits for taxpayers living in states with exchanges and taxpayers living in states without exchanges who rely on the federal exchange. The final decision was 6-3 with Chief Justice Roberts delivering the opinion. Justices Kennedy, … Read more

Nevada Pops New Tax On Burning Man, iHeartRadio, Other Music Festivals

Heading to Nevada to catch your favorite entertainer this year? Better book a ticket for summer. Beginning in October 2015, tickets to live entertainment may be subject to a new 9% tax on admissions. All events held in venues capable of holding 15,000 or more concertgoers are subject to the new tax. The tax is … Read more

In Landmark Case, Supreme Court Finds Maryland’s Tax Scheme Unconstitutional

Last May, Dominic Perella, argued that the way that the State of Maryland treated tax credits was wrong, arguing, “Maryland’s approach is unfair to people who make money in more than one state.” As it turns out, the Supreme Court agrees, holding in Comptroller v. Wynne that Maryland’s tax scheme is unconstitutional because it doesn’t … Read more

Taxes From A To Z (2015): P Is For Personal Property Taxes

It’s my annual “Taxes from A to Z” series! Next up: P Is For Personal Property Taxes Most taxpayers are used to the idea that they can deduct taxes paid on real property. Real property generally includes land and improvements. Most commonly, those improvements are buildings. You most likely identify the “improvement” on your land … Read more

Paying Your Taxes In Bitcoin? Bill Would Make It Easy.

At tax time, you can generally settle your bill by cash (though not necessarily folded cash), check or credit card. A New Hampshire State Representative is hoping to add another way to pay: Bitcoin. A bill introduced earlier this year in New Hampshire, HR552, would require the state’s treasurer to “develop an implementation plan for … Read more

Tax Checks Go Up In Flames After Mail Truck Burns

“Neither snow, nor rain, nor heat, nor gloom of night, stays these couriers from the swift completion of their appointed rounds.” Apparently, however, fire will stop the U.S. Postal Service in their tracks. Last Wednesday, a U.S. Postal Service truck burned completely, destroying nearly all of the mail and packages inside, including a wedding ring … Read more

Minnesota Stops Accepting Returns Filed With TurboTax, Cites Fraud Concerns

(UPDATED: Intuit has temporarily suspended transmission of returns in all states. See this article for more details.) Minnesota Department of Revenue has stopped accepting tax returns submitted using Intuit’s TurboTax software. Rumors started flying about potential problems earlier this week and there were whispers that the Gopher State might stop accepting TurboTax returns as a … Read more

TurboTax Temporarily Halts All State E-Filings Amid Fraud Concerns

Author’s notes: Intuit has announced that TurboTax has resumed e-filing of state income tax returns. See this post for more information. Original story has been updated to include statements from H&R Block, Liberty Tax, TaxAct, additional state-specific information and a statement from IRS. Up to 18 states are reporting significant upticks in fraudulent activity and there … Read more

Texas Man Arrested After Attempt To Pay Taxes With Dollar Bills

A Wichita Falls man made news last week when he was arrested while trying to pay his property taxes. Only there’s a little bit more to the story than that. The 27-year old Texan, Timothy Andrew Norris, arrived in person at the Wichita County Courthouse to pay his $600 property tax with individual dollar bills … Read more

Salaries, Ads & Security: What’s The Real Cost Of Super Bowl XLIX?

In my house, today is all about Super Bowl XLIX. Yes, we’d rather see the Eagles playing (to be fair, we didn’t expect that to happen this year) and yes, I’ve had to have some interesting conversations with my kids about cheating (my son was a Tom Brady fan until recently – now, he’s not … Read more