What the Tech: Should you protect yourself with an IRS Identity Protection PIN?
The IRS says tax fraud and scams cost Americans $5.5 billion a year. Should you set up an identity protection PIN through IRS to protect yourself?
Taxes
State grocery tax to drop by 1% on Friday
You will get a bit of a break on your grocery bill in Alabama starting Friday, September 1.
People Flock to Alabama State House to Support Removing State Sales Tax from Groceries
Alabama lawmakers are considering removing, or phasing out, the state’s 4% sales tax on food.
Pike Road Votes Yes to Property Tax Increase
Pike Road residents have voted yes for an ad valorem tax referendum.
COVID-19 Payments and Benefits Will Not Be Taxed in Alabama
Wednesday the Alabama Senate voted unanimously 27-0 to pass a bill that will not tax COVID relief payments and benefits received. Sponsors of the bill say it will reduce taxes on businesses in Alabama. The bill now heads to the Governor’s desk for signage into law. Categories: Coronavirus, Montgomery Metro, News, Statewide Tags: alabama covid relief, covid relief, PPP, Small…
Montgomery County Tax Referendum Passes in Legislature
In a rare Saturday session, the Alabama Legislature passed budgets and the Montgomery tax referendum. The property tax referendum passed the Senate floor with an amendment, and was concurred by the House of Representatives. The ad valorem tax proposal would add 12 mills to the current 10 mill property tax rate in Montgomery County. All of the money would go…
Montgomery Delegation Votes Yes to Ad Valorem Tax
CORRECTION: This story was edited on 5/9/2020 to reflect the property tax increase would be 12 mils, as opposed to the previous reported 18.5 mils. On Tuesday a House Committee made of the Montgomery delegation approved a bill that would increase property taxes for education in Montgomery County. The Ad Valorem Tax Bill narrowly passed along party lines with a…
Concern IRS Rule Could Impact Private School Scholarships
Advocates of a state-supported private school scholarship program are concerned that donations could drop under proposed new IRS rules. The program, known as the Alabama Accountability Act, gives donors an income tax break for donations to groups that provide private school scholarships. Currently, donors get a dollar-for-dollar reduction on their state income tax bill, and can also claim a federal…
Supreme Court Rules States Can Now Collect Taxes from Online Retailers
The Supreme Court has ruled that states can now collect taxes from online retailers even if the retailers are out of state. It’s a decision states and retailers have been waiting on. The high court says states can compel internet sellers to collect sales tax regardless of whether they have a physical presence in the state. The decision overrules a…
H&R Block Shares Skid Again on Store-Shuttering Plan
Shares of H&R Block were down for the second day in a row following the tax preparer’s announcement that it would shutter 400 offices in response to a new tax law that could simplify the average American’s return. As more people opt for do-it-yourself software such as TurboTax, the Kansas City, Missouri company said it would invest in new technology…
