House Pushes Through Internet Tax Ban Bill but Will Senate Agree?
Everyone loves the Internet and most people couldn’t live without it. There are a lot of great things about the Internet; with one of those things being that fact that there are no state and local taxes to use it. Over the years, they have been many arguments back and forth as to whether or not there should be taxes on Internet use, with most people siding against it, especially consumers.
In the latest effort to put a permanent stop to the talk of taxing the Internet, the U.S. House recently passed a bill that would put the possibility of Internet taxes to rest for good. That’s the good news. The bad news is the Senate is not expected to agree with the House and therefore the Permanent Internet Tax Freedom Act (PITFA) is not expected to pass in the Senate and become law.
The original Internet Tax Freedom Act has been around since 1988 and it has already been renewed five times since its inception. However, the latest iteration is set to expire on October 1 of this year if it is not extended again. The burden could be huge for consumers, especially those from lower income households if it is not renewed. Even though most lawmakers from both parties are opposed to Internet taxes, the latest bill is not expected to pass because the Senate has tried combining the PITFA bill with other bills.
The Senate is concerned about the ability of states to charge sales tax between in-state and out-of-state retailers. As long as that continues to be an issue the PITFA will likely not pass by itself.
If You’re Using Airbnb for Some Extra Cash Don’t Forget About Taxes
Have you heard about the latest craze in hospitality? It’s the idea of renting out your home for a night or two, or perhaps even slightly longer, to someone looking for a place to stay other than a hotel. The leader in the industry is Airbnb, which works much like Uber, the personal cab driver…
If You’re Going to Argue About Taxes Your Argument Better Be Good
Lets face it a lot of taxpayers make mistakes on their tax returns. It’s also true that there are plenty of other taxpayers that willfully falsify their returns in order to save on their total tax bill. Some people even go as far as to simply skip out on filing a return all together. You…
Another Tax Scam Is Upon Us – Beware of Back Taxes Bullies
No one likes a bully. Bullies can wreck havoc on their victims. From swirlies to stealing lunch money, bullies are a big problem. The same can be said for tax bullies, except they want to steal a lot more than your lunch money. There have been several recent reports from different locations around the country…
Consider Taxes and Choose Your Retirement Location Carefully
Last week we discussed the best and worst states to retire in when it comes to taxes. So what kinds of factors actually play a role in coming up with those numbers? Choosing a place to call home when you retire is important and there are many factors that can play a role in where…