taxes | Connecticut Public Radio
WNPR

taxes

Katie Harp / Pexels

Do you have credit card debt hanging over your head? Or maybe you've been thinking you should start saving for retirement, but you aren’t sure how to pay for it?

This hour we sit down with NPR correspondent Chris Arnold, who covers personal finance and consumer protection. NPR’s new family of podcasts, Life Kit, gives listeners practical tips for navigating life challenges from parenting to healthy eating. Arnold hosts Life Kit’s podcasts about money. They are all about figuring out how to get your finances in order in a fun and approachable way.

Checking In With Governor Ned Lamont

Mar 4, 2019
Ryan Caron King / Connecticut Public Radio

It's been nearly two months since Ned Lamont was sworn in as Connecticut's 89th governor. 

Elements of his budget proposal, released last month, are being opposed by many segments of the state's population.

Mark Pazniokas / CTMirror.org

Governor Ned Lamont has said he is open to negotiating almost everything in his budget proposal. Well, it seems like lots of people are going to take him up on his offer.

State legislators on opposite sides of the political spectrum are panning Lamont's plan to raise roughly $500 million a year by expanding the goods and services subject to the state's sales tax.

The 2019 tax season is here. Have you filed your forms? If so, good on you for not procrastinating. If not, you might want to reconsider waiting until the last minute... because the U.S. tax code has changed.

This hour, we take an in-depth look at the 2017 Tax Cuts and Jobs Act and find out what it means for those filing taxes this year.

Later, Connecticut Public Radio’s Patrick Skahill takes us inside a UConn lecture hall, where students are learning the science of cultivating... get this... cannabis. 

Getty Images / Pool

President Donald Trump's State of the Union address Tuesday night was full of contrasting tones. Like when he endorsed national paid family leave for new parents, and then just seconds later, called for legislation banning late-term abortions.

Today, we break down his speech, and how well it went over or didn't go over with Congressional Democrats.

Chion Wolf / WNPR

Elections aren't for another nine or so months, but mayoral races are heating up across Connecticut. That includes those in the state's three largest cities where the top municipal leaders are Democrats, and challengers from within the party keep emerging.

Wikimedia Commons

Amazon’s getting billions of dollars in tax breaks and other incentives from New York and Virginia to build its two East Coast headquarters. This hour: has corporate welfare become the standard?

What's Up With Connecticut's Election System?

Nov 14, 2018
Chion Wolf / Connecticut Public Radio

We’re still finding out results from last Tuesday’s elections in Connecticut and that’s not surprising, really. Some of the races were just really close. That’s probably a good thing.

Another good thing: Lots of people showing up to vote. Gigantic numbers showing up to vote in a midterm election in Connecticut and just about everywhere.

The bad thing: We still can’t seem to get this election thing right at least in our cities.

This hour, we look at possible fixes.

Chion Wolf / WNPR

Some more good news for Connecticut homeowners who are struggling with crumbling foundations -- many will now be able to deduct the cost of repairs from their federal taxes over the next two decades. 

Yinan Chen / Wikimedia Commons

What does effective philanthropy look like in the 21st century?

This hour, we sit down with Jay Williams, the President of the Hartford Foundation for Public Giving.

We also talk with scholar and author, Chuck Collins. He is a one-percenter who dedicated his life to addressing income inequality. Collins’ policy institute has found that charities are increasingly depending on larger donations from a smaller number of wealthy individuals. We ask Collins--is that a good thing?

Democratic candidate for governor Jay Gonzalez announced a proposal on Wednesday to tax private colleges in Massachusetts to pay for his transportation and education plans.

Ryan Caron King / WNPR

Employment and health care top the list of issues concerning Connecticut voters, according to a recent poll.

Frankie Graziano / Connecticut Public Radio

Connecticut is suing the federal government over Republican tax cuts. The $1.5 trillion cuts were signed by President Donald Trump in December and included a cap on federal deductions for state and local tax, or SALT.

Some online sales are about to start costing more.

The U.S. Supreme Court ruled Thursday that states can require retailers to collect and remit sales taxes on out-of-state purchases. The 5-to-4 decision reversed decades-old decisions that protected out-of-state vendors from sales tax obligations unless the vendor had a physical presence in the state.

Photo Phiend / Creative Commons

Legislative leaders say they may consider a special session to look at potential problems with the state’s tax incentive programs for businesses. An audit of economic development incentives administered by state officials has found inaccuracies in both the level of tax credits and the amount of job creation achieved by the companies that benefited. 

Frankie Graziano / Connecticut Public Radio

The deadline to file federal income taxes is Tuesday. Many filers will use a paid preparation service on top of having to pay their taxes. But if you qualify for something the IRS calls the “Volunteer Income Tax Assistance” program or VITA, you can get them done for free.

Jennifer Sanchez, an employee at Lifebridge Community Services in Bridgeport, benefits from the EITC
Harriet Jones / Connecticut Public Radio

As tax time comes down to the wire, an advocacy group is trying to raise awareness of one very under-used tax credit. It’s called the Earned Income Tax Credit, and it’s been boosting the income of low-wage workers for more than 40 years. But it’s still such a well-kept secret that it’s estimated as many as one in five people who are eligible never claim it. 

Ryan Caron King / WNPR

Governor Dannel Malloy is introducing a proposal to restore funding for transportation projects.

iStock

The Affordable Care Act required Americans to carry some form of health insurance. But the new federal tax bill will eliminate what’s called an “individual mandate” for the 2019 tax year.

Mary Anne Williams

The IRS has clarified that Connecticut homeowners who have already incurred expenses to repair crumbling foundations will be able to deduct existing losses from their federal taxes. 

This story was originally published Jan. 8, 2017 at 5:22 p.m. ET.

New England electricity customers could get a direct benefit from a cut in federal corporate taxes — lower utility bills.

Consumer advocates in New England are calling on regulators and utilities to turn over to ratepayers any savings from a reduction in the corporate income tax rate, which the recent tax law knocked down by 40 percent.

The week after Christmas is usually a short and slow one for town officials in New Paltz, N.Y. — but not this time.

"When we opened town hall Wednesday we had almost 100 voicemails from people inquiring about how they could prepay their taxes," says Daniel Torres, the town's deputy supervisor.

And the phones kept ringing. People started lining up. Torres says the clerk's office has a only few people working in it.

"The clerk's office was so overrun. After a certain while we couldn't even pick up the phones anymore," he says.

A glitch in the Republican tax overhaul has created an uncertain future for Newman’s Own Foundation and the food company it operates.

A little-remarked-upon provision changing the way inflation is calculated is among the big changes contained in the tax overhaul signed by President Trump last week.

The new method, using the so-called "chained" consumer price index to determine when to adjust tax brackets and eligibility for deductions, is expected to push more Americans into higher tax brackets more quickly. In the past, the tax code used the traditional CPI measure issued by the Labor Department each month.

Mary Anne Williams

State residents whose homes have crumbling foundations are among those who'll be out of luck under the new federal tax overhaul.

Chris Potter / Flickr

When you file your 2018 income taxes, you might notice that the standard deduction has essentially doubled. Exemptions will likely be eliminated and in its place, you might see a larger tax credit per dependent claimed. But it also raises at least one other big question: will you give as much to charity?

Updated on Dec. 22 on 12:02 p.m. ET

Congressional Republicans delivered on their first major legislative accomplishment of the Trump era on Wednesday, when the House voted 224-201 to pass a $1.5 trillion tax package. The bill cuts individual rates for eight years and slashes the top corporate tax rate to 21 percent permanently.

Ron Cogswell / Creative Commons

The U.S. Senate passed a GOP-sponsored tax bill on Tuesday evening, after the House of Representatives did the same earlier in the day.

Updated at 6:25 p.m. ET

Congressional Republicans released a final draft of their tax bill Friday. With newfound support from two wavering senators, lawmakers appear to be on track to pass the measure and deliver it to President Trump for his signature by Christmas.

Votes in the House and Senate are expected next week.

With lawmakers in the House and Senate announcing that they've reached a deal, affordable housing advocates are anxiously waiting to see which version of the bill wins out with regard to housing. They say the House bill has a poison pill in it.

"The effect would be devastating," says Diane Yentel, president of the National Low Income Housing Coalition. "It would mean a loss of around 800,000 affordable rental homes over the next 10 years."

Pages