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IRS offering break for Colorado flood victims

IRS offering break for Colorado flood victims

The Internal Revenue Service will provide tax relief to individual and business taxpayers affected by, flooding, landslides and mudslides in Colorado. The IRS announced this week that some taxpayers in the counties of Adams, Boulder, El Paso, Larimer and Weld will receive tax relief, and other locations may be added in coming days following additional… Continue Reading IRS offering break for Colorado flood victims

Business tax break heads to CO governor

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A potential tax break on business equipment is headed to the desk of Colorado Gov. John Hickenlooper. The Senate voted 34-0 Wednesday to give final approval to the measure that allows municipalities to control how much of the taxes they want to exempt. The legislation would give municipalities the choice to exempt all taxes on… Continue Reading Business tax break heads to CO governor

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AARP seeks tax volunteers

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AARP Foundation Tax-Aide, the nation’s largest free, volunteer-run tax preparation service, is seeking volunteers  from across the state to aid with 2011 tax returns. Volunteers do not need to be an AARP member or a retiree to participate. Tax-Aide is particularly in need of volunteers who speak both English and Spanish. Volunteers will receive free… Continue Reading AARP seeks tax volunteers

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Douglas Bruce is due to be arraigned today in Denver on charges he evaded taxes. But the father of Colorado’s Taxpayer Bill of Rights says he plans to seek to have the case dismissed. Bruce is accused of tax evasion for allegedly failing to report money that went to a nonprofit group fighting government spending.… Continue Reading Anti-tax crusader Bruce back in court on evasion charge

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El Paso county commissioners are holding a hearing on a plan to put a sales tax for parks on the November ballot. The group Great Parks-Great Communities wants voters to decide on if they want to pay a cent and a half on a $10 purchase to support city parks. If approved, more than $9… Continue Reading El Paso county commissioners consider parks tax

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Colorado provides tens of millions of dollars in tax subsidies each year, but produces minimal information for taxpayers about who receives the support. A report from Good Jobs First shows Colorado earned a “D plus” grade for disclosing tax subsidies, after researchers determined the vast majority of recipients are not disclosed online. The largest subsidy… Continue Reading Colorado earns a ‘D+’ for disclosing tax breaks

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“Don’t tax me, don’t tax thee. Tax that fellow behind the tree!” Thus spoke Louisiana Sen. Russell Long decades ago, neatly summarizing the dilemma that legislators face when trying to increase revenue. The lowliest elected official soon learns to his or her dismay that voters want services, but have little interest in paying for them.… Continue Reading Too much to hope for: Tax reform that is simple, fair

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The system is under fire by a number of leading accounting firms who complain about delayed refunds and, in some cases, notices from the state demanding payment of penalties and interest along with the repayment of refunds that had been larger than expected. Continue Reading Dept. of Revenue system causing tax return nightmares

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Some supporters of public schools are backing a proposal that would allow the Legislature to raise taxes to pay for education. The proposal is up for its first hearing today in the House Education Committee. It seeks to ask voters this fall if they would give the Legislature approval to raise taxes as needed to… Continue Reading Education tax hike gets first hearing at Capitol

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Voters in the western Colorado town of Fruita were deciding today whether to make their town the first in the state to tax medical marijuana. The City Council decided to ask voters whether to impose a 5 percent sales tax on medical marijuana to help the town of about 11,000 cover costs of regulating dispensaries.… Continue Reading Fruita voters decide on sales tax for marijuana

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