Hacker News with Generative AI: Taxes

Why So Many Ultra-Expensive Supercars Have Montana License Plates (cowboystatedaily.com)
A $3 million Ferrari or $4 million Bugatti hypercar on the road turns heads as people scramble to take photos. Chances are good it will have a Montana license plate. The state’s tax laws make it a haven for the super-rich to register their supercars.
Taxes, Montana, Luxury Cars, Supercars
19 points by Bender 6 days ago | 3 comments
Ask HN: As a foreigner in the US, how do you find filing taxes here? (ycombinator.com)
I am from the UK but living in the US and filing taxes has been a complete disaster.
Taxes, Immigration, United States, United Kingdom
6 points by blackhaj7 7 days ago | 8 comments
Spending <1% of Your Time on Taxes Is a Mistake (iriscotax.substack.com)
Taxes, Finance, Personal Finance
11 points by tuye0305 11 days ago | 3 comments
Republicans want to tax EV drivers $200/year in new transport bill (arstechnica.com)
WASHINGTON, DC—The House Transportation and Infrastructure Committee will meet today to discuss its proposed budget legislation, and there's a doozy in there for drivers of electric vehicles and hybrids.
Politics, Transportation, Electric Vehicles, Taxes
11 points by pseudolus 22 days ago | 6 comments
Liverpool to introduce 'tourist tax' for visitors (bbc.com)
People staying overnight in Liverpool will have to pay a "tourist tax" after hoteliers voted in favour of plans to introduce one.
Tourism, Liverpool, Taxes, Travel
7 points by ksec 25 days ago | 1 comments
Trump Reportedly to Do Away IRS Direct File Program for No Discernible Reason (techdirt.com)
For three years now, a select group of states have had a pilot program through the IRS for its Direct File program.
Politics, Taxes, Government
20 points by beardyw 36 days ago | 2 comments
Intuit, Owner of TurboTax, Wins Battle Against America's Taxpayers (prospect.org)
For nearly three decades, a cold war has raged through the halls of Congress and in high-end shellfish restaurants perched precariously on Washington, D.C.’s southern coast. The battle lines have shifted between successive administrations, sometimes tilting toward proletariat victory, and sometimes cutting fast toward total surrender to corporate America.
Politics, Taxes, Business, Lawsuits
456 points by leotravis10 36 days ago | 228 comments
IRS making plans to rescind Harvard's tax-exempt status (cnn.com)
IRS, Taxes, Harvard University, Non-Profit Organizations
26 points by ironyman 37 days ago | 5 comments
Trump admin plans to end the IRS Direct File program for free tax filing (apnews.com)
Politics, Taxes, Government, IRS, Technology
46 points by breadwinner 37 days ago | 20 comments
I Fought the IRS for Over $12K and won (mikekasberg.com)
This is a story about how I overpaid my 2021 taxes due to an error in TurboTax and spent nearly three years trying to recover more than $12,000 from the IRS! I began writing this back in 2022, in the midst of frustration with TurboTax and the IRS, but waited to finish writing and publish it until I knew the ending.
Taxes, Finance, Personal Finance, Legal Issues
50 points by LorenDB 39 days ago | 96 comments
Open guide to equity compensation (github.com/jlevy)
Stock options, RSUs, taxes — read the latest edition: www.holloway.com/ec
Finance, Equity Compensation, Stock Options, Taxes
656 points by mooreds 40 days ago | 297 comments
No state has axed its income tax in 45 years; 2 Southern states plan to do so (apnews.com)
No state has axed its income tax on wages in 45 years. Now 2 Southern states are on a path to do so
Taxes, Politics, Economy, Southern States, United States
8 points by JumpCrisscross 46 days ago | 1 comments
US tax return filings drop by nearly 1M, extension requests rise (cnn.com)
Taxes, Economy, Government
67 points by MilnerRoute 47 days ago | 58 comments
Earners vs. Owners (profgalloway.com)
It’s tax season in the U.S. Sixty-million-plus Americans’ taxes are so simple, the IRS could process them automatically and just send a bill or refund check. Instead, the average American spends $270 and 13 hours filing their taxes each year. Spoiler alert: The IRS is the least popular federal agency.
Taxes, Finance, Economics
22 points by Brajeshwar 49 days ago | 0 comments
Immigrants pay 19.2% of taxes in the United States, more than $650B (elpais.com)
Immigration is not only a fundamental part of American history; it is an inherent part of the social and economic fabric of the United States and is key to the country’s future.
Immigration, Taxes, United States
10 points by PaulHoule 61 days ago | 0 comments
American pharmaceutical companies aren't paying tax in the U.S. (cfr.org)
The 2024 10-K reports of America’s largest pharmaceutical companies show that they continue to avoid paying much, if any, U.S. corporate income tax.
Taxes, Pharmaceuticals, Business, Finance, United States
60 points by luu 67 days ago | 46 comments
Buy, Borrow, Die – How to be a billionaire and pay no taxes (theatlantic.com)
America’s superrich have always found ways to avoid paying taxes, but in recent years, they’ve discovered what might be the mother of all loopholes. It’s a three-step process called “Buy, Borrow, Die,” and it allows people to amass a huge fortune, spend as much of it as they want, and pass the rest—untaxed—on to their heirs. The technique is so cleverly designed that the standard wish list of progressive tax reforms would leave it completely intact.
Taxes, Wealth Inequality, Finance, Law
10 points by pseudolus 67 days ago | 2 comments
Several states seek end to property taxes (foxbusiness.com)
As Tax Day nears, fiscally conservative leaders in several states are pushing to abolish property taxes, with one Pennsylvania lawmaker arguing that homeowners shouldn’t have to "pay rent" to the government.
Politics, Taxes, Real Estate
5 points by walterbell 70 days ago | 11 comments
The failure of the land value tax (worksinprogress.co)
Land value taxes are once again becoming a popular all-purpose solution to housing issues. But implementing them in the early 1900s Britain destroyed the then-dominant Liberal Party.
Real Estate, Taxes, Politics, History
45 points by eamag 71 days ago | 81 comments
DOGE's Cuts to the IRS Threaten to Cost More Than Doge Will Ever Save (propublica.org)
The Trump administration claims gutting federal agencies will save money, but cutting the IRS means the government collects less taxes. “If you’re interested in the deficit and curbing it, why would you cut back on the revenue side?” one expert asks.
Taxes, Government Spending, Economics, US Politics
38 points by danso 75 days ago | 9 comments
Ask HN: How do you handle VAT / Sales Tax accounting as B2C SaaS? (ycombinator.com)
Hey! I run a B2C SaaS and I use Stripe for all of my sales (subscriptions).
SaaS, Business, Accounting, Taxes
96 points by throw_1VJ51pMb 76 days ago | 86 comments
Musk ally is moving to close office behind free tax filing program at IRS (theguardian.com)
An Elon Musk ally installed in the US government said in a late night email going into Saturday that the office behind a popular free online tax filing option would be shuttered – and its employees would be let go.
Politics, Taxes, Government, Technology
91 points by rntn 83 days ago | 4 comments
Trump official calls Social Security 'wrong' with groundwork for cuts (independent.co.uk)
Donald Trump and Elon Musk are ramping up baseless claims that tens of millions of dead people are collecting Social Security payments, laying the groundwork to cut out “waste” and “fraud” as they look to make dramatic cuts for some of the most expensive programs in the federal budget to pay for astronomical tax cuts for America’s wealthiest households.
Politics, Social Security, Government Spending, Taxes
23 points by throw0101a 91 days ago | 14 comments
Musk Team Seeks Access to IRS System with Taxpayers' Records (nytimes.com)
The Internal Revenue Service is preparing to give a team member working with Elon Musk’s so-called Department of Government Efficiency access to sensitive taxpayer data, people familiar with the matter said.
Politics, Government, Privacy, Data Security, Taxes
21 points by 2OEH8eoCRo0 95 days ago | 9 comments
The European VAT Is Not a Discriminatory Tax Against US Exports (taxfoundation.org)
The Trump administration has once again floated the idea of “reciprocal” tariffs on foreign countries.
International Trade, Tariffs, Taxes, Politics, Economics
179 points by dzogchen 97 days ago | 379 comments
Trump Will Seek to End Carried Interest, Expand Salt in Tax Bill (bloomberg.com)
President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including ending the carried interest tax break used by private equity fund managers and expanding the state and local tax deduction.
Politics, Taxes, Finance, Legislation
6 points by blindriver 106 days ago | 5 comments
IRS using AI to make sure people aren't playing the system (2024) (cbsnews.com)
Your 2023 taxes are due in a few weeks, and now the Internal Revenue Service is using a new artificial intelligence tool to make sure people aren't playing the system.
Artificial Intelligence, Government, Taxes
9 points by zo1 106 days ago | 6 comments
Move your company out of Delaware to Nevada or Texas (eladgil.com)
Delaware, with a population of less than 1 million people, is home to over 1.8 million business entities, including more than 60% of Fortune 500 companies.
Business, Finance, Legal, Taxes, State Government
11 points by eladgil 107 days ago | 4 comments
Musk Says He's 'Deleted' Popular Free IRS Tax Filing Program (thedailybeast.com)
President Trump’s “special government employee,” Elon Musk, announced on Monday that he has dissolved the Internal Revenue Service’s free file program, effectively firing the staff who worked on the popular program.
Politics, Taxes, Elon Musk, Government
63 points by standardUser 109 days ago | 12 comments
Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income (truthout.org)
Elon Musk’s Tesla paid a total of $0 in federal income taxes in 2024, new tax reports show, despite the company having raked in billions of dollars in income and being the most valuable car company in the world.
Taxes, Business, Tesla, Elon Musk
318 points by cdme 112 days ago | 236 comments