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Ohio House Passes Bill to Broaden Renewable Energy Tax Credit
COLUMBUS – Last week, the Ohio House of Representatives gave the green light to House Bill 264, marking a significant step toward expanding the scope of facilities eligible for the Renewable Energy Tax Credit within the state. The announcement was made by State Rep. Mark Johnson (R-Chillicothe), who sponsored the bill in collaboration with State […]
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Donald Trump May Owe IRS More Than $100 Million in Back Taxes
The IRS may soon come calling to collect an unpaid debt of more than $100 million in back taxes supposedly owed by former President Donald Trump. Trump’s financial woes stem from handling the Trump International Hotel and Tower in Chicago, his most recent major construction project. Built-in 2008 amidst the Great Recession, Trump claimed significant […] The post Donald Trump May Owe IRS More Than $100 Million in Back Taxes first appeared on The Source.
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Sports team owners face new scrutiny from IRS over tax avoidance
A massive trove of tax information obtained by ProPublica, covering thousands of America’s wealthiest individuals, reveals what’s inside the billionaires’ bag of tricks for minimizing their personal tax bills — sometimes to nothing. by Robert Faturechi, Ellis Simani and Justin Elliott This story was originally published by ProPublica. The IRS has launched a campaign to examine whether wealthy taxpayers are violating the law when using their ownership of sports teams to save large amounts...