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HCL Technologies Fourth-Quarter Net Profit Fell 24% on Higher Tax Expenses
By Kosaku Narioka HCL Technologies Ltd.’s fourth-quarter net profit dropped 24% from a year earlier due partly to higher tax expenses. The Indian information-technology services provider said late Friday that its net profit for the quarter ended March fell to 23.87 billion rupees ($318.8 million) from INR31.54 billion a year earlier. That missed the estimate …
West Baton Rouge Council refuses tax break for solar panel project
WEST BATON ROUGE PARISH – A solar plant project in west Baton Rouge is now in jeopardy after the parish council refused to give the project a tax break. Carey Denstel, vice-chairman for the West Baton Rouge Parish Council, said $22 million in tax exemptions was too high a price to pay for the California-based …
With a Big Tax Break, Hong Kong Tries to Soothe the Rich
HONG KONG — Political opposition has been quashed. Free speech has been stifled. The independent court system may be next. But while Hong Kong’s top leaders take a tougher line on the city of more than seven million people, they are courting a crucial constituency: the rich. Top officials are preparing a new tax break …
Idaho joins 12 other states in refusing unemployment tax break
TWIN FALLS, Idaho (KMVT/KSVT) — As part of the American Rescue Plan, states were given the opportunity to offer tax breaks on unemployment income earned during the 2020 fiscal year. Idaho is one of 13 states choosing not to offer such breaks. The most recent COVID relief bill stated the first $10,200 of unemployment income …
IRS refunds will start in May for $10,200 unemployment tax break
Samuel Corum/Bloomberg via Getty Images The IRS will start issuing tax refunds in May to Americans who filed their returns without claiming a new break on unemployment benefits, the federal agency said Wednesday. The American Rescue Plan waived federal tax on up to $10,200 of unemployment benefits, per person, received in 2020. Households with $150,000 …
An Unexpected Unemployment Tax Break: What to Know
In the massive stimulus package enacted earlier this month, lawmakers inserted a last-minute exemption for many taxpayers with up to $10,200 of unemployment payments for 2020. Normally this income is fully taxable on federal returns, so the change could save many filers $1,000 or more. The brain twister, for the agency and affected taxpayers, is …
Federal Relief Delays Tax Break for California Businesses – NBC 7 San Diego
California businesses got billions of dollars from the federal government during the coronavirus pandemic, money that helped many survive public health restrictions that hobbled their livelihoods. But now Gov. Gavin Newsom’s administration worries a new federal law could mean the state can’t exempt that money from taxes. The U.S. government changed the law so businesses …
IRS: Pandemic, old technology, understaffing leave millions of 2019 tax returns untouched – WISH-TV | Indianapolis News | Indiana Weather
INDIANAPOLIS (WISH) — The backlog of federal income-tax returns was created in part by the coronavirus pandemic shutdown in spring 2020. Cory Haskett of Madison County, located northeast of Indianapolis, is one of the millions of U.S. taxpayers who has not received a 2019 federal tax refund from the IRS. He is waiting on close to $6,000 from the federal government. …
IRS delays filing deadline to mid-May, as IRS grapples with a backlog of 24 million unprocessed tax returns
The IRS shared the full scope of its backlog with the House Ways and Means Committee and the agency’s own government watchdogs. The numbers, obtained by The Washington Post, far dwarf the data the IRS has revealed to the public. The IRS later communicated its plans to adjust the tax filing deadline to House and …
Unemployment Benefit Tax Break – NBC 7 San Diego
The coronavirus pandemic completely changed our way of life. Millions of people lost their jobs and had to rely on unemployment benefits for the first time, for example. In the past, those checks were taxed at the federal level, but now that’s changed, to a degree. “If you got $20,000, you can exclude $10,200 of …
