Washington (CNN)House Democrats on Friday unveiled the outline for their first legislative push in the new Congress -- a bill that would aimed at substantial government reforms on everything from voter rights to campaign finance to ethics requirements in Washington to the documents presidential candidates must hand over when they win the nomination. A Democratic aide told CNN that "the bill would require presidential nominees to release their returns from the three most recent taxable years." The bill -- which Democrats are calling "H.R. 1" -- isn't expected to pass in a Republican-controlled Senate or be signed into law by President Donald Trump. But it nevertheless acts as a statement of priorities for House Democratic priorities and is what Democrats plan to make their first order of business in January when they take control of the House. Here's the lawmaker who can request Trump's tax returns Longtime House Democratic leader Nancy Pelosi, who is vying to reclaim the … [Read more...] about House Democratic priorities in new Congress: Trump tax returns and tackling corruption
Tax return minnesota
Well, last month, he had his chance. He did not take it. At issue were Trump’s tax returns, which have remained secret and are now back in the limelight. After 18 months of trawling through the Trump family’s financial dirty laundry, The New York Times published a scathing report accusing the sitting president of “dubious tax schemes” and “outright fraud,” helping his parents sidestep taxes, and undervaluing that money so he could siphon as much as possible to himself and his siblings. A Trump lawyer has called these allegations “100 percent false.” Trump himself described the story as “a very old, boring and often told hit piece.” The only way to say for sure who’s right would be to see those tax returns for ourselves. And last month, the House Ways and Means Committee -- the House’s head honchos when it comes to taxation -- took it upon itself to decide whether we should have the privilege. It began as a … [Read more...] about Erik Paulsen voted to keep Trump’s tax returns a secret
Sen. Elizabeth Warren released her tax return for 2018 on Wednesday, offering a window into her household income of about $846,000 last year.The Democratic presidential candidate’s disclosure followed her releasing returns dating back a decade in August.“I’ve put out 11 years of my tax returns because no one should ever have to guess who their elected officials are working for,” Warren said in a statement on Wednesday. “Doing this should be law.” Warren and her husband, Bruce H. Mann, filed jointly reporting an adjusted gross income of $846,394 for 2018.Warren received $176,280 as a senator representing Massachusetts and reported several hundred thousand dollars in income from book deals. She has written just under one dozen books, including her 2017 book “This Fight is Our Fight," for which she received a $300,000 advance.Mann, a professor at Harvard, earned $402,827.The couple paid $230,965 in federal taxes - a tax rate of 27.3 percent - and … [Read more...] about Elizabeth Warren releases 2018 tax return, says ’doing this should be law’
U.S. Rep. and Democratic candidate for governor Tim Walz released his 2017 personal income tax returns Thursday, using the occasion to urge Republican candidates, former Gov. Tim Pawlenty and Hennepin County Commissioner Jeff Johnson, to do the same. Johnson, as well as Walz’s top Democratic rivals in the field — state Rep. Erin Murphy of St. Paul and state Auditor Rebecca Otto — have pledged to release their personal tax earnings, but haven’t done so yet. It’s unclear if Woodbury Mayor Mary Giuliani Stephens, who’s running as a Republican, has been asked whether she plans to release her information; a spokesman couldn’t be reached for comment Thursday. Gov. Mark Dayton, who has annually released his returns during his two terms as governor, isn’t seeking re-election. Pawlenty, who entered the race earlier this month, has not committed to releasing his returns. When asked, Pawlenty noted that much of his income since leaving the … [Read more...] about Tim Walz releases 2017 tax returns. Will Tim Pawlenty? (Most other governor hopefuls said they will.)
Candidates for governor Jeff Johnson and Tim Walz both earn well above the median household income of their fellow Minnesotans, but an accountant who reviewed their tax returns said he found nothing unusual in either. Johnson, a Republican and a Hennepin County commissioner from Plymouth, shared his 2017 tax return at the Star Tribune's request. Walz, the Democratic candidate and a U.S. congressman from Mankato, released 11 years of tax returns earlier this year. "Both are reasonably similar. And neither is particularly interesting," said Chris Wittich, a CPA with Boyum Barenscheer, an accounting firm based in Bloomington. Although the Johnson and Walz households both earn incomes higher than average, the two families are mostly wage earners, and neither uses exotic deductions or fancy maneuvers to avoid paying taxes. Jeff and Sondra Johnson together made about $254,000 in 2017. Tim and Gwen Walz's combined income was about $212,000 in 2017. The median household income in Minnesota is … [Read more...] about Tax returns lay out similar financial situation for candidates for governor Jeff Johnson, Tim Walz
The Internal Revenue Service has nearly $1.4 billion in unclaimed income tax refunds for 2015, and the agency is trying to get the money to the rightful recipients.The money belongs to an estimated 1.2 million taxpayers who did not file a 2015 Form 1040 federal income tax return, according to a news release. In Pennsylvania, that includes an estimated 46,000 people in Pennsylvania with a total estimated refund amount of $53,541,000. "We’re trying to connect over a million people with their share of $1.4 billion in potentially unclaimed refunds for 2015,” said IRS Commissioner Charles Rettig in the release. “Students, part-time workers and many others may have overlooked filing for 2015. And there’s no penalty for filing a late return if you’re due a refund.”If you think the IRS might owe you a refund from 2015: File a 2015 tax return with the IRS no later than this year’s tax deadline, Monday, April 15. Taxpayers in Maine and Massachusetts have … [Read more...] about IRS has nearly $1.4 billion in unclaimed tax returns: Could some of it be yours?