Tag Archives: taxpayers

Tennessee tops Tax Foundation sales tax rankings

Tennessee ranks highest among all 50 states in a new study of state and local sales taxes released today by The Tax Foundation, a nonpartisan research organization.

Tennessee has the highest combined state and local sales tax rate with an average of 9.43 percent, according to the study.

Arizona is the next highest at 9.12 percent. Rounding out the five highest states are Louisiana (8.86 percent), Washington (8.83 percent) and Oklahoma (8.68 percent).

Tennessee shoppers will get a break from nation’s highest sales tax rate this weekend with the annual state sales tax holiday Friday through Sunday.

Continue reading

Tell the IRS exactly what you think

Ever dreamed of telling the taxman what he can do with itemized deductions? Here’s your chance.

The Internal Revenue Service is looking for volunteers from Tennessee – and several other states – willing to serve on a federal advisory committee that will recommend ways to improve IRS service.

Volunteers must be willing to commit up to 500 hours during the year and pass an FBI criminal background check. And, committee members must be current on their federal taxes. The deadline to apply is April 27.

Continue reading

Haslam whiffs on Amazon tax issue

Missed opportunities can haunt us all of our lives. Tennessee Gov. Bill Haslam had one of those moments yesterday.Amazon+Sales+Tax.jpg

Haslam had a chance Tuesday to come out in favor of legislation that would require Amazon.com to collect state sales taxes on Tennessee purchases after it opens a pair fullfillment centers near Chattanooga.

But he whiffed.

Continue reading

Where’s your tax refund going?

A survey released by this week by the National Endowment for Financial Education offersthumbnail.aspx.jpeg some interesting insights into how different taxpayers handle their tax refund.

Folks who deliberately have more withheld from their pay in order to get a larger refund are, not surprisingly, a conservative bunch —  49 percent plan to pay down debt and 44 percent plan to salt it away.

Continue reading

Working together to benefit taxpayers

In a rare display of cooperation and good sense, five small counties in northwest Tennessee and southwest Kentucky have formed an alliance to work on economic development.

The Ken-Tenn Regional Alliance, which represents Obion, Weakley and Lake counties in Tennessee and Fulton and Hickman counties in Kentucky, operates at the other end of the state, but East Tennessee economic develoment officials would do well to pay close attention to the group’s efforts.

Working across county and state lines presents certain political hurdles, but joint ventures can serve taxpayers well if local officials are sincere in their efforts to cooperate.

Continue reading

Was TARP worth the cost? You betcha!

It looks like the cost of avoiding another Great Depression will be about $51 billion — a lot less than originally thought. Turn off the TV, sit in a quiet corner and think about that for a minute.

Wall+Street(2).jpgThe Troubled Asset Relief Program cost taxpayers a lot of money, but it was a cheap price for avoiding bread lines and 25 percent unemployment. It’s a price every taxpayer should be thankful for, but many are too angry to be thankful.

It’s a classic disconnect.

Continue reading

Maybe Geithner gets it — finally

Treasury Secretary Timothy Geithner has made a lot of headlines during the administration’s first year.

Today was no exception.

In an interview today he said it was “deeply unfair” that many Americans are still suffering while some companies are stronger than even after being bailed out by taxpapers. He understands why many Americans are hacked off.

Well, duh! Of course we’re hacked off.