Internal Revenue Service (IRS) officials picked a left-wing think tank for a $15 million “independent review” of a proposal long supported by the same foundation to empower federal officials to prepare Americans’ tax returns, according to House Ways and Means Committee Chairman Jason Smith (R-Mo.). The think tank in question is New America, a Washington,…
Number of Canadians in Highest Tax Bracket Barely Changed Since Tax Rate Increase in 2016: Report
The number of Canadians whose taxable incomes are in the top 1 percent bracket has remained virtually the same since 2016, when the Liberal government increased the federal income tax rate to 33 percent for the highest earners—or those making $200,000 or more a year. The Canada Revenue Agency (CRA) said in an Inquiry of…
Gas Prices up by as Much as Almost 20 Cents in Some Canadian Cities
Gas prices jumped overnight in some cities across Canada by as much as almost 20 cents. According to the CAA’s gas price tracker, the price of gas is up nationally by just over three cents on average at 158 cents per litre, with some provinces seeing higher jumps than others. In Alberta, prices are up…
IRS Five Times More Likely to Audit Low-Income Filers Than All Others, Including Top 1 Percent: Watchdog
Internal Revenue Service (IRS) officials audit returns of taxpayers making $25,000 or less at a much higher rate than for all other income earners, including those in the top 1 percent who President Joe Biden claims pay nothing, according to a nonprofit government watchdog. “So far, it has completed 132,922 audits of these low-income wage…
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