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The Biden administration hopes to help fund its agenda by cracking down on tax evasion, but its plan to require more bank information is drawing strong opposition from GOP lawmakers and banks.
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As Florida lawmakers prepare to draw up a new budget, they continue to get a boost from residents and tourists spending money. A report released Monday showed that Florida collected $327.9 million more in general revenue in August than had been projected. Much of the bump, $248.2 million, came from higher-than expected sales-tax collections.
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The agreement would set a 15% minimum tax rate for companies around the world, but it would need to be passed by a closely divided Congress.
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Democrats will try the same budgetary process from four decades ago when first-year President Ronald Reagan used reconciliation to achieve his "revolution" in federal fiscal policy.
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Florida lawmakers will have an additional $2.6 billion to play with in general-revenue taxes, along with nearly $6 billion in unspent federal coronavirus stimulus money, as they begin to piece together an election-year budget.
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"Be alert to criminals who ask you, by phone, email, text – or even on social media, to verify your information," the IRS cautions.
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A statement from White House press secretary Jen Psaki said the counterproposal on one of the president's chief domestic priorities did not "meet the essential needs of our country."
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Tourism officials say it could lead to money being diverted away from tourism promotion and advertising.
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It is the second consecutive year the agency has given taxpayers more time to file their returns because of the coronavirus pandemic.
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This post will be updated today, Monday, Nov. 23, and through the week with the latest information on COVID-19 in South Florida.
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After failing to get the now-blocked citizenship question onto 2020 census forms, the Trump administration is turning to IRS tax forms, Medicaid data and Interior Department law enforcement records.
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The IRS has delivered more than $207 billion in coronavirus relief payments to individual taxpayers, but some of the recipients of the relief checks are the bank accounts of people who have died.