Charities are waiting to see whether new tax changes, which will reduce the number of Americans who qualify to lower their federal tax bills by using a deduction for giving, will also reduce donations.
Attracting higher-wage residents is key to future growth as city revenues have stagnated and local governments have become increasingly reliant on income taxes. Republican Chuck Brewer and Democrat Joe Hogsett are proposing ways to bolster Indy neighborhoods.
The first tax filing season under the new federal tax law is proving to be surprising, confusing—and occasionally frightening—for some Americans, especially those accustomed to getting money back from the government.
Thanks to a variety of tax credits and a significant tax break available on pay handed out in the form of company stock, Amazon actually received a federal tax rebate of $129 million last year, giving it an effective federal tax rate of roughly -1 percent.
The U.S. Department of Justice is accusing a tax preparation business with two locations in Indianapolis of reporting false information on federal income tax returns. It is seeking to shut down the business.
Hogsett called the condition of local roads “deplorable” and vowed to “return our streets to safe, passable condition.” Since Jan. 1., the city has received more than 12,000 repair requests for potholes.
Public utility regulators from Oklahoma to Massachusetts are considering lowering the rates that homeowners and businesses pay, after the passage of a federal tax overhaul that reduced the corporate income tax rate by 14 percent.
A wide range of economists and nonpartisan analysts have warned that the bill will likely escalate federal debt, intensify pressure to cut spending on social programs and further widen America's troubling income inequality.