The Money Circles

Oct72021 by Alesha EversonNo Comments

Indonesian parliament approves major tax reform bill

Tax

JAKARTA, Oct. Oct (Reuters) - Indonesia's parliament on Thursday approved a government proposal to amend tax rules, with Deputy Speaker Muhaimin Iskander saying he would raise value-added tax rates next year and scrap planned corporate tax cuts. The law introduces a 35% income tax, new carbon tax, and tax waiver program for those earning more than 5 5 billion (35 351,000) a year. But while some business groups and analysts have questioned the timing of the planned tax hike, the economic recovery from the epidemic appears to be still fragile. According to a copy reviewed by Reuters, the law calls for an increase in the VAT rate on sales of almost all goods and services from 10% to 11% and by 2025 to 12%. It also abolished planned corporate tax cuts and introduced higher income ...

Oct72021 by William CarterNo Comments

October tax extension deadline fast approaching October tax extension deadline fast approaching

Tax

The deadline for tax returns for 2020 returns is approaching, but there is still time to avoid additional penalties and fees. Filers have until October 15 to file an extended return, originally on May 17. Those who have applied for an extension can waive the late penalty by sending a refund by October 15. Otherwise, failure to pay the penalty means 5% tax per month, limited to 25%. There are usually no file-to-file penalties for refunds, but taxpayers are likely to lose their money by waiting too long to file. Taxpayers can use online filing options, such as IRS free files, to send returns. In addition, states may have different deadlines for tax extensions, so filers should double check the details through their state tax website. More time to fileAlthough the October 1...

Oct72021 by Leroy BeckerNo Comments

The troubled trucking company had the Trump White House backing the epidemic loan, emails show

Loan

According to an email released Wednesday by the Congressional Oversight Committee, the financially strapped trucking company received support from the Trump White House in 2020. Yellow Corporation gave the Treasury Department a 30% stake as a condition for the $ 700 million loan, which came from funds earmarked by Congress for companies "critical to national security." Debt critics, who have accused Republicans and Democrats of overseeing relief funds, have argued that the Pentagon and Treasury have extended the term of Yellow, formerly known as the YRC, to several competitors in the trolling market. Congressional investigators on the Democratic-led selection committee on the coronavirus crisis, who issued the email, are now asking the National Archives and Records administration to...

Oct72021 by Laura BassNo Comments

Student loan waiver: half a million people to benefit from the repairs, some immediately

Loan

WASHINGTON - The promise of a public service debt waiver program was supposed to be simple. If college graduates are willing to leave the lucrative salary in the private sector to work as teachers and police officers or government employees, any of their federal student loans will be waived after 10 years of payment. The program has proven nothing but forgiveness. More than a decade after it was founded in 2007, thousands of borrowers have applied for the waiver. The federal government has denied almost all of them. That should change since this fall. The Department of Education on Wednesday announced a major overhaul of the debt waiver program that would quickly eliminate ,000 1.7 billion in debt from 22,000 borrowers. The government estimates that about ,000 2.8 billion in d...

Oct72021 by Kindra HeathNo Comments

The best cheap car insurance in Minneapolis

Insurance

The average cost of car insurance in Minneapolis, Minnesota is $ 1,980 per year for full coverage or $ 165 per month. The average work journey in the city is less than 25 minutes and most drivers drive alone. Although a shocking statistic, Minnesota surpassed 300 traffic deaths by the end of August 2021, the lowest ever Minnesota benchmark since 2007. Those who have affordable rates in Minneapolis can go a long way in staying financially secure. While reviewing the best car insurance in Minneapolis, Bankret’s insurance editorial team evaluated the cheapest car insurance companies in the region by the average premium and available coverage and discounts. The cheapest car insurance company in Minneapolis is State Farm, according to Banquet’s 2021 cited annual premium study. The best c...

Oct72021 by Alesha EversonNo Comments

USDA introduces new insurance policies for farmers who sell locally

Insurance

WASHINGTON - The U.S. Department of Agriculture is introducing new insurance options, especially for agricultural growers who sell local produce, including small farms. The new microfarm policy simplifies record keeping and includes post-production costs such as washing and value-added products. The USDA's Risk Management Agency has developed this new policy based on research based on the 2018 Farm Bill and includes feedback from growing growers for their local community. The policy will be available from the crop year of 2022. RMA Acting Administrator Richard Flournoy said, “We look forward to offering this new coverage to producers who work to provide fresh and healthy food to their community. "The USDA's focus is on supporting local and regional food systems, and this new crop in...