Tagged: Taxes

From NPR: Almost nobody is paying the use tax. It’s for all those online purchases you didn’t pay state sales tax for last year. In fact, accountants are about the only ones who went through the trouble of sifting through all their receipts to calculate it.

It’s tax day and a busy one at the Kentucky Revenue Department. State Division of Individual Income Director Bruce Nix says some 1.3 million state tax returns have already been filed, but another 400,ooo could arrive today.  For taxpayers who need more time, Nix says filing for an extension with the IRS is all that’s required in Kentucky.

One week from today is the tax filing deadline. More than one million of the expected 1.8 million Kentucky returns have been filed and processed. 

Pamela Trautner in the Kentucky Finance Cabinet said the vast majority of taxpayers are filing their returns electronically.

“Electronic filing has grown in popularity since Kentucky implemented that in 2003,” she said. “I think that year there were 50 percent who filed online. Last year there were 77 percent.”

April 18 is National Tax Freedom Day, the point at which Americans will have earned enough money to pay this year's tax obligations at the local, state and federal levels. Elizabeth Malm is an economist with the Washington-based Tax Foundation. She said Americans this year will work five days later than in 2012 to pay all their taxes.

From NPR: Kansas Gov. Sam Brownback is doing his best to eliminate income taxes in his state. But to get rid of the old he’s going to have to do something radically un-Republican: raise other taxes.

A new report by the Institute on Taxation and Economic Policy shows a big gap between Kentucky’s income levels on who pays taxes. The report says Kentucky’s top 1 percent income bracket pays roughly 5 percent of the state’s income, while the bottom 20 percent pays 9 percent.