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GOP lawmakers said the provisions provided needed economic relief for some industries, while they took fire from deficit hawks.
This tax proposal would do more than make tips income tax-exempt for servers. While this tax proposal promises to benefit servers, it's more complex than that.
The GOP bill adds hurdles for EITC recipients, hitting low-income families hardest while preserving tax breaks for the rich.
Supporters of a new income tax credit for middle-class households with children couldn’t overcome Gov. Ned Lamont’s objections this spring, despite strong grassroots support and broad backing ...
How It Could Affect Servers Under current law, every tip — cash, credit, debit or via the business’s electronic payment system — must be reported as income no matter the amount.
Senators also removed a provision that would have created a new income tax credit for some people who earned a Purple Heart – the decoration for service members who were wounded or killed in action.
Tax credits, like the Child Tax Credit and Earned Income Tax Credit, help working parents afford childcare, transportation, and school supplies.
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