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Last month, Congress passed a historic $2.2 trillion aid package aimed at easing the financial burden facing state governments, businesses and American families during the coronavirus pandemic. As part of this legislation, the majority of Americans are eligible to receive one-time cash payments — $1,200 for most — but for some, accessing those funds is a confusing and complicated process, while others were completely left out of this part of the relief plan.

The Nevada Department of Employment, Training, and Rehabilitation will participate alongside other financial experts in a telephone town hall scheduled for Tuesday afternoon.

Like Christmas, St. Patrick’s Day, and the Fourth of July, Tax Day in America is associated with the same calendar date each year.

While the aggregate tax system is mildly progressive, state and local tax systems are notably regressive. The lowest 95 percent of all income earners pay on average a higher percent of their income in state and local taxes than their share of aggregate income.

The Nevada Tax Commission has voted to give its chairman the authority to negotiate settlements on behalf of state marijuana regulators, with the agreements going before the full commission for final approval.

There was a lot of tax talk in 2019 – especially on social media. From Bitcoin to stretch IRAs to tax refunds, Twitter streams were filled with news, links, and best practices focused on tax.

The new tax law that went into effect in 2018 nearly doubled the standard deductions. As a result, only 13.7 percent of taxpayers are expected to itemize expenses on their 2019 returns, according to the not-for-profit Tax Foundation. Prior to the enactment of the Tax Cuts and Jobs Act, nearly one-third of filers itemized expenses to reduce their taxable income.

As the end of the year approaches, it’s a good idea to start thinking about how you’ll handle your federal tax return. Some taxpayers are still getting familiar with the Tax Cuts and Jobs Act of 2017, which has been in effect for only one tax season.