Taxes

TBIT / Pixabay, Public Domain

Starting this week, Kentucky’s six percent sales tax now applies to a new set of services like automotive repairs, pet grooming, dry cleaning, gym memberships and landscaping.

Updated at 8:05 p.m. ET

Tax filers have little longer to get their paperwork in to the Internal Revenue Service.

In a statement, the IRS announced it is giving taxpayers an additional day to file and pay their taxes after technical issues on the agency's website made it impossible for people to view their tax record or make payments for much of the day on Tuesday.

Reporters and researchers are just starting to comb through the huge, rushed-to-passage tax package to figure out the implications.

One of the changes, according to the Institute on Taxation & Economic Policy, which advocates for a "fair and sustainable" tax system, allows far more wealthy donors in 10 states to turn a profit through "donations" to private school scholarships.

Sergey Kuzmin-123rf stock photo

  The Kentucky General Fund receipt rose more than $25 million dollars in November compared to this time last year.

Congressional Republicans aim to take critical steps Thursday toward fulfilling their pledge to overhaul the nation's tax code by the end of the year.

The House Ways and Means Committee is expected to approve sweeping legislation to cut taxes for most individuals and businesses on the same day that Senate Republicans are set to unveil their own legislative vision for taxes. The dueling proposals are part of a broader plan that GOP leaders hope will end with both chambers passing a compromise tax bill by the end of the year.

Congressman Thomas Massie, Facebook

Kentucky’s Fourth District Congressman said he’s confident that his party will be able to pass the most sweeping tax code change in decades. 

Updated at 1:55 p.m. ET

As Republicans scrambled to assemble a tax overhaul bill, Americans weren't even sure that Congress should be focusing on reshaping the tax system.

Only about one-quarter of Americans believe that passing a tax overhaul should be "the top priority for the president and Congress," according to a CBS News poll released Wednesday; 70 percent said other things should be "addressed first." And even Republicans aren't particularly enthused: Only about half (51 percent) said an overhaul should be the top issue.

Updated at 3:10 p.m. ET

House Republicans unveiled a draft tax bill on Thursday, calling for deep cuts in both individual and corporate tax rates.

"With this bill, we will grow our economy by delivering more jobs, fairer taxes, and bigger paychecks to Americans of all walks of life," said Rep. Kevin Brady, R-Texas, chairman of the House Ways and Means Committee.

House Republicans announced late Tuesday that they would delay by one day the release of their long-awaited tax cut bill that GOP leaders have promised will be the most extensive overhaul of the tax code in a generation, as members clashed over curtailing popular tax breaks to pay for trillions of dollars in tax cuts for individuals and corporations.

At the marathon Senate Budget Committee hearing this week, Sen. Bob Corker, R-Tenn., strolled in like a man who had just quit his job and was ready to tell the boss what he really thinks.

Pages