Nine districts to hold referendums amid worries that voters will say no
Without approval for the new levies, suburban and rural districts alike say they will be forced to cut staff and likely see an increase in the number of students in a classroom.
Taxes
Articles
Indiana communities wait uneasily as lawmakers eye food and drink tax change
Thirty-three Indiana communities have a food and beverage tax: a 1% sales duty levied on businesses that sell or help sell food and drink. In some localities, both the municipality and county have one, stacking up to 2%.
Indiana monthly revenue falls short of projections for first time in year
The last time monthly revenue didn’t meet expectations was September 2021, when collections missed the mark by 0.1%.
IRS wants millions to claim child tax credit, stimulus funds
The government said some families might be leaving up to $3,600 per child unclaimed, as well as other payments owed to them.
Fishers City Council approves 1% food and drink tax, property tax cut
The council voted 8-1 in favor of the 1% food and beverage tax that would raise an estimated $3.2 million a year toward the construction of the Fishers Events Center.
Indiana well-positioned to legalize iGaming, state study says
Indiana could earn between $341 million and $943 million in taxes from iGaming over three years, depending on the rate adopted.
White House: More than 850K Hoosiers eligible for student loan debt forgiveness
Most of those Indiana recipients could have up to $20,000 forgiven because they received Pell Grants, which are provided to students whose families can’t help them pay for college.
Fishers proposes food and beverage tax to fund $170M arena for Indy Fuel
In addition to introducing plans for the new tax hike, the Fishers City Council on Monday unanimously approved plans for Andretti Autosport’s $200 million headquarters and an updated headquarters-expansion proposal by Italy-based Stevanato Group.
Tax-credit online marketplace creates connections for more deals
Indiana’s entrepreneurial community has high hopes that the new service will help attract more out-of-state investment in Hoosier startups.
Indiana’s casinos paid $700M in taxes in latest fiscal year
Indiana’s 12 casinos raked in $2.5 billion from July 2021 through June 2022, according to the Indiana Gaming Commission’s annual report.
IRS to look into setting up free electronic tax filing system
The IRS has lacked the funding—or the clout to outmaneuver private lobbyists—to seriously consider its own e-filing platform, current and former officials say, forcing taxpayers instead to deal with a consortium of private providers.
Indiana to tax student loan forgiveness, similar to other states
Democratic state Rep. Rep. Greg Porter of Indianapolis condemned the policy in a statement Tuesday and said he was drafting legislation to retroactively eliminate state income tax on debt relief.
IRS to wipe away $1.2 billion in late fees from pandemic
The IRS estimates that nearly 1.6 million taxpayers will receive more than $1.2 billion worth of penalty relief. The tax agency will automatically issue the refunds or credits for most of the fees by the end of September.
Indiana agencies start sending new round of tax rebates
The state Department of Revenue announced Thursday that it had already issued about 1.5 million direct deposits for the $200-per-taxpayer rebates from the surging state budget surplus approved by the Indiana Legislature earlier this month.
Indiana gasoline taxes dropping 5 cents a gallon next month
A total of 57 cents per gallon in state taxes will be charged during September under rate changes released Wednesday by the Indiana Department of Revenue.
Yellen tells IRS to develop modernization plan in six months
Treasury Secretary Janet’s memo, obtained by The Associated Press, outlines the importance of modernizing IRS computer systems and ensuring the agency has an adequately-staffed workforce now that the tax collector is set to receive nearly $80 billion over the next 10 years.
Biden signs major climate, health care legislation
The measure is expected to be paid for by new taxes on large companies and stepped-up IRS enforcement of wealthy individuals and entities, with additional funds going to reduce the federal deficit.
Companies facing first tax on stock buybacks in Biden bill
Under the bill, companies will face a new 1% excise tax on purchases of their own shares, effectively paying a penalty for a maneuver that they have long used to return cash to investors and bolster their stock price.
Expanded IRS free-file system one step closer in Dems’ bill
Now that the IRS is set to receive nearly $80 billion through the so-called “Inflation Reduction Act,” the agency has the means to develop new systems to help Americans pay their taxes.
Hoosiers could see mailed tax refund checks as early as next week
After a paper shortage delayed the first round of checks by several weeks, all paper needed for printing has now been received, meaning checks can start going out, said a spokesperson for the state auditor’s office.