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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.

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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."

Wealthy Americans may get a new conduit for political money in the tax overhaul bill now being reconciled on Capitol Hill.

A small provision in the House version of the bill would let big donors secretly give unlimited amounts to independent political groups — and write off the contributions as charitable gifts.

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In a move that signals a shift in the health care market, CVS/Health announced a $69 billion deal to buy Aetna - the third largest insurer in the nation. This would be one of the biggest health care deals of all time, and would leave Aetna CEO Mark Bertolini with a sweet $500 million payout.

Ryan Caron King / WNPR

WNPR’s Jeff Cohen and Ryan Caron King are back on the ground in Puerto Rico.

This hour: an update from The Island Next Door. We get the latest on local recovery efforts in the aftermath of Hurricane Maria. 

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Reaction to passage in the Senate of the Republicans’ tax agenda has been swift in Connecticut. Both Connecticut senators, along with all of their Democratic colleagues, opposed the bill, which was passed at 2:00 am Saturday morning, with no hearings. 

Updated Dec. 2 at 11:57 a.m. ET

The Senate narrowly approved a $1.4 trillion tax overhaul early Saturday morning following a day of procedural delays and frustration.

The legislation, which would cut the top corporate tax rate to 20 percent and lower taxes for most individuals, narrowly passed in a vote of 51-49. Tennessee Republican Bob Corker was the only Republican to vote against the legislation, joining every Democrat and both independents in opposing the sweeping overhaul of the nation's tax laws.

Updated at 11:20 a.m. ET

Senate Republicans continued maneuvering to pass their overhaul of the nation's tax code on Friday, possibly working around concerns by stern deficit hawks after an official estimate on Thursday said that the economic growth spurred by the plan would still leave a $1 trillion hole in the deficit.

Republicans lawmakers are considering a federal budget "trigger" that would raise taxes if proposed tax cuts don't deliver the economic growth they have promised.

But the proposal is generating a lot of pushback from critics, especially conservatives.

The so-called trigger mechanism would be a legislative provision to rescind corporate tax cuts by as much as $350 billion if revenue targets are not met, Bloomberg News reports.

Graduate students around the country walked out of their classes, office hours, and research labs to protest the House Republican tax plan Wednesday.

"This plan is going to be disastrous for higher ed," said Jack Nicoludis, a Harvard graduate student in chemistry, who helped organize a protest on the campus. He said the bill would more than double his taxes.

Chion Wolf / WNPR

Connecticut Attorney General George Jepsen announced this week that he will not be seeking a third term. This leaves two huge holes to fill - AG and Governor - with no clear front-runners.

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Today's Scramble will be another all-call show. We won't have any guests -  just you and your calls to Colin. 

Chion Wolf / WNPR

It’s been a hectic few weeks on Capitol Hill, but the Thanksgiving recess means a bit of rest for lawmakers and a chance for us to check in with a member of the Connecticut delegation.

John Morgan / Creative Commons

The House of Representatives passed a 440-page tax bill Thursday that was introduced two short weeks ago. Among other things, the bill would remove deductions  important to people with big medical expenses and college tuitions and ultimately hit hardest those making $75,000 or less. 

Senate Republicans hope to vote after Thanksgiving on a sweeping tax overhaul plan that they say will cut taxes for nearly every individual and family in America. The bill calls for those cuts to last only for the next eight years, unless history is a guide.

Chion Wolf / WNPR

Connecticut’s Commissioner of Revenue Services says Republicans’ efforts to reform the federal tax system are fundamentally flawed. 

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